---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-23-084521"
form_type: "8-K"
ticker: "RILY"
cik: "0001464790"
company_name: "BRC Group Holdings, Inc."
filed_at: "2023-11-08T23:59:59+00:00"
generated_at: "2026-06-08T09:09:08.739057+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# B. Riley Q3 2023 net loss $75.8M; record revenues $462.3M (+48% YoY); declares $1.00 dividend

## Summary
- Record Q3 total revenues of $462.3M, up 48% YoY; YTD revenues $1.30B, up 86%.
- Net loss $75.8M driven by unrealized investment losses and a $35.5M non-cash Targus goodwill impairment.
- Operating adjusted EBITDA $107.5M in Q3, up 34% sequentially; YTD $267.8M.
- Board declares regular quarterly dividend of $1.00 per share and authorizes $50M share repurchase plan.
- Cash and investments $2.05B at quarter-end; raised ~$115M equity and expanded Nomura facility by ~$240M.

## SEC filing metadata
- accession: 0001213900-23-084521
- form_type: 8-K
- ticker: RILY
- cik: 0001464790
- company_name: BRC Group Holdings, Inc.
- filed_at: 2023-11-08T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1464790/000121390023084521/0001213900-23-084521-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1464790/000121390023084521/ea187879-8k_briley.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-23-084521
- JSON: https://secwatch.observer/filing/0001213900-23-084521.json
- Plain text: https://secwatch.observer/filing/0001213900-23-084521.txt

## Key facts
- Earnings Releases
  BRC Group Holdings, Inc. reported the nine-month period ending September 30, 2023 results: revenue $1.30 billion, net income net loss of $16.3 million, EPS $(0.56) per share.
  - Period: the nine-month period ending September 30, 2023
  - Revenue: $1.30 billion
  - Net income: net loss of $16.3 million
  - EPS: $(0.56) per share
  - Result: reported results
  source text: 30, 2023. Financial Highlights for Three and Nine Months Ended September 30, 2023 ● Record total revenues of $462.3 million in Q3, up 48% year-over-year; Record YTD revenues of $1.30 billion for the first nine months of 2023, up 86% ● Net loss of $75.8 million in Q3 primarily driven by unrealized investment losses related to changes in mark-to-market valuations on
  evidence_url: https://www.sec.gov/Archives/edgar/data/1464790/000121390023084521/0001213900-23-084521-index.htm
- Earnings Releases
  BRC Group Holdings, Inc. reported the fiscal quarter ended September 30, 2023 results: revenue $462.3 million, net income Net loss of $75.8 million, EPS $(2.53) per share.
  - Period: the fiscal quarter ended September 30, 2023
  - Revenue: $462.3 million
  - Net income: Net loss of $75.8 million
  - EPS: $(2.53) per share
  - Result: reported results
  source text: results for the three-month and nine-month period ending September 30, 2023. Financial Highlights for Three and Nine Months Ended September 30, 2023 ● Record total revenues of $462.3 million in Q3, up 48% year-over-year; Record YTD revenues of $1.30 billion for the first nine months of 2023, up 86% ● Net loss of $75.8 million in Q3 primarily driven by unrealized
  evidence_url: https://www.sec.gov/Archives/edgar/data/1464790/000121390023084521/0001213900-23-084521-index.htm

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