10-K · March 31, 2026
BRC Group Holdings describes a diversified "platform" strategy focused on financial services (capital markets, wealth) plus telecom and consumer products, and is prioritizing debt reduction and opportunistic…
Earnings analysis · 10-Q
RILY earnings analysis
Filed May 7, 2026 · Our reading of the company's report
The latest report
BRC Group Holdings reported a robust Q1 2026 with total revenues of $352 million, significantly up from $186 million in the prior year, coupled with a substantial net income of $211 million compared to a loss of $17…
Read full summary
BRC Group Holdings reported a robust Q1 2026 with total revenues of $352 million, significantly up from $186 million in the prior year, coupled with a substantial net income of $211 million compared to a loss of $17 million in the same period last year. The results reflect notable improvements across segments, especially Capital Markets, which saw a dramatic increase in trading gains.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $2.77
- Segment
- Capital Markets
- Segment
- Wealth Management
- Segment
- Lingo
- Segment
- magicJack
- Segment
- Marconi Wireless
- Segment
- UOL
- Segment
- Consumer Products
What stood out
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Revenue Growth of 89.2% YoY
Total revenue for Q1 2026 reached $352 million, up from $186 million year-over-year.
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Net Income Reversal
Net income surged to $211 million compared to a loss of $17 million in Q1 2025.
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Strong Trading Gains
Trading gains for Q1 2026 were $145 million, recovering from a loss of $16 million last year.
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Reduced Operating Expenses
Total operating expenses declined by 19.6% year-over-year, from $247 million to $199 million.
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Improved Operational Cash Flow
Net cash provided by operating activities was $38 million, compared to only $184,000 in the prior year.
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Increased Securities Holdings
Total securities and investments owned rose by $192.8 million compared to the last quarter.
What to watch
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Material Weakness in Controls
Management reported material weaknesses in internal controls over financial reporting that remain unremediated.
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High Debt Levels
The company has approximately $1.3 billion in debt, including $337.3 million in senior note maturities within the next 12 months.
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Regulatory and Legal Risks
The company faces ongoing legal proceedings and SEC inquiries related to past business practices.
Management's outlook
Outlook deferred to earnings press release / call.
Earlier filings 4
10-Q · January 14, 2026
BRC Group (f/k/a B. Riley) reported a strong operational quarter: revenue rose to $277,871,000 in Q3 2025 (vs. $175,364,000 in Q3 2024 and $225,302,000 in prior quarter), driving a gross margin of ~76.2% and operating…
10-Q · November 18, 2025
B. Riley reported Q1 continuing-operations revenue of $186,063,000 and a diluted loss per share of $(0.39). The quarter included a large gain on sale and deconsolidation of businesses of $80,841,000 and continued…
10-K · September 19, 2025
B. Riley positions itself as a diversified financial services platform focused on capital markets, direct lending, wealth and advisory services while opportunistically investing in distressed assets. The company pivoted…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.