B. Riley files Q2 report, says results consistent with preliminary numbers

B. Riley Financial (RILY) earlier today announced the filing of its quarterly report for the three-month period ended June 30, 2024. “The financial statements are consistent with the preliminary financial results released on August 12, 2024,” the company said in a statement. B. Riley expects to file its quarterly report for Q3 “in the near future, at which point it is expected to regain compliance with Nasdaq Listing Rules.” As of December 31, 2024, B. Riley disclosed a preliminary cash balance of $257M. Bryant Riley, co-Chief Executive Officer of B. Riley Financial, commented, “We regret the delays in our financial filings, which were due to a series of significant and unusual events that occurred in 2024. The results and disclosures contained in our 10-Q are consistent with the preliminary financial results we released in August. We are working diligently to finalize our third quarter 10-Q and expect to return to a normal filing cadence in 2025.” As we look to the future, we believe B. Riley is positioned for stronger performance in 2025 thanks to the actions we have taken over the past several months to monetize non-core assets and deleverage our balance sheet. We will retire our February 2025 Senior Notes as scheduled and look for opportunities to enhance value for the company from the dislocation in our other outstanding maturities. With our balance sheet in a stronger position, we expect to once again invest in our core financial services businesses.”