---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-25-075744"
form_type: "8-K"
ticker: "RILY"
cik: "0001464790"
company_name: "BRC Group Holdings, Inc."
filed_at: "2025-08-13T23:59:59+00:00"
generated_at: "2026-05-17T13:53:56.881050+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "medium"
source: SEC EDGAR
---

# B. Riley reports H1 2025 net income $125-145M vs 2024 loss of $772M; debt down $600M

## Summary
- H1 2025 net income available to common shareholders $125M-$145M ($4.08-$4.74 diluted EPS); revenue $405M-$425M.
- FY 2024 net loss $772.3M ($25.46 diluted loss) due to $510M impairment on Freedom/Vintage and $105.4M goodwill impairment.
- Total debt reduced by $600M to $1.46B as of June 30, 2025; net debt $809M-$839M.
- Executed carve-out of B. Riley Securities in March 2025; BRS Q2 2025 revenue $60.9M, GAAP net income $12.5M.
- Oaktree facility amended with new investment baskets up to $100M; $126M debt reduction via bond exchanges.

## SEC filing metadata
- accession: 0001213900-25-075744
- form_type: 8-K
- ticker: RILY
- cik: 0001464790
- company_name: BRC Group Holdings, Inc.
- filed_at: 2025-08-13T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: medium
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1464790/000121390025075744/0001213900-25-075744-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1464790/000121390025075744/ea0252682-8k_briley.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-25-075744
- JSON: https://secwatch.observer/filing/0001213900-25-075744.json
- Plain text: https://secwatch.observer/filing/0001213900-25-075744.txt

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