---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-23-013670"
form_type: "8-K"
ticker: "RILY"
cik: "0001464790"
company_name: "BRC Group Holdings, Inc."
filed_at: "2023-02-22T23:59:59+00:00"
generated_at: "2026-06-19T04:40:31.970655+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# B. Riley Q4 net loss $59.4M, operating EBITDA $101.8M beats guidance; declares $1.00 dividend

## Summary
- Q4 total revenues $326.8M; operating revenues $450.4M; operating adjusted EBITDA $101.8M (guided $90-100M).
- Q4 GAAP net loss ($59.4M); investment loss ($123.5M) within guided range of ($125-150M).
- Full-year 2022 net loss ($167.8M); operating adjusted EBITDA $366.5M, second-best in firm history.
- Declared quarterly cash dividend of $1.00/share, payable March 23 to holders of record March 10.
- Completed multiple acquisitions in 2022 expected to enhance uncorrelated revenues and cash flow.

## SEC filing metadata
- accession: 0001213900-23-013670
- form_type: 8-K
- ticker: RILY
- cik: 0001464790
- company_name: BRC Group Holdings, Inc.
- filed_at: 2023-02-22T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1464790/000121390023013670/0001213900-23-013670-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1464790/000121390023013670/ea174066-8k_briley.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-23-013670
- JSON: https://secwatch.observer/filing/0001213900-23-013670.json
- Plain text: https://secwatch.observer/filing/0001213900-23-013670.txt

## Key facts
- Earnings Releases
  BRC Group Holdings, Inc. reported the fourth quarter ended December 31, 2022 results: revenue $326.8 million, net income ($59.4 million).
  - Period: the fourth quarter ended December 31, 2022
  - Revenue: $326.8 million
  - Net income: ($59.4 million)
  - Result: preliminary results
  source text: § Total revenues were $326.8 million for the quarter and $915.5 million for the year. § Operating revenues increased to $450.4 million for the quarter and $1.3 billion for the year. § Net losses of ($59.4 million) for the quarter and ($167.8 million) for the year were primarily driven by softness in small-cap markets throughout 2022 and related impact on investments.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1464790/000121390023013670/0001213900-23-013670-index.htm
- Earnings Releases
  BRC Group Holdings, Inc. reported the fiscal year ended December 31, 2022 results: revenue $915.5 million, net income ($167.8 million).
  - Period: the fiscal year ended December 31, 2022
  - Revenue: $915.5 million
  - Net income: ($167.8 million)
  - Result: preliminary results
  source text: § Total revenues were $326.8 million for the quarter and $915.5 million for the year. § Operating revenues increased to $450.4 million for the quarter and $1.3 billion for the year. § Net losses of ($59.4 million) for the quarter and ($167.8 million) for the year were primarily driven by softness in small-cap markets throughout 2022 and related impact on investments.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1464790/000121390023013670/0001213900-23-013670-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.