Revenue remains highly unpredictable, fluctuating from $179.7M in 2025Q1 to $450.6M in 2026Q1, while gross margins exhibit extreme sensitivity to business mix, ranging from 44.2% to 82.3% over the same period.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 |
|---|
| Sales/Revenue | 1.3B | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Revenue Growth % | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Cost of Goods Sold | 0 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| COGS % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Gross Profit | 961.17M | 669.84M | 716.43M | 913.22M | 748.03M | 1.42B | 718.86M | 553.57M | 364.4M | 269.1M | 134.74M | 80.4M | 39.57M | 40.48M | 47.27M | 40.39M | 20.05M | 53.26M | 27.84M | 0 |
| Gross Margin % | 73.84% | 64.98% | 61.54% | 63.17% | 75.27% | 91.38% | 86.17% | 84.89% | 86.15% | 83.53% | 70.78% | 71.45% | 51.31% | 53.17% | 56.32% | 63.57% | 47.58% | 63.85% | 52.36% | - |
| Gross Profit Growth % | - | -6.5% | -21.55% | 22.08% | -47.35% | 97.64% | 29.86% | 51.91% | 35.41% | 99.72% | 67.58% | 103.19% | -2.25% | -14.37% | 17.06% | 101.39% | -62.35% | 91.32% | - | - |
| Operating Expenses | 481.63M | 519.15M | 1.19B | 817.16M | 718.17M | 906.2M | 442.59M | 386.92M | 319.01M | 240.26M | 86.01M | 58.32M | 47M | 36.38M | 39.83M | 32.95M | 31.41M | 35.74M | 21.7M | 396.81K |
| OpEx % of Revenue | - | 50.37% | 102.41% | 56.53% | 72.26% | 58.29% | 53.05% | 59.33% | 75.42% | 74.57% | 45.19% | 51.83% | 60.95% | 47.79% | 47.46% | 51.86% | 74.54% | 42.85% | 40.81% | - |
| Selling, General & Admin | 0 | 0 | 759.78M | 764.93M | 654.83M | 906.2M | 428.54M | 385.22M | 310.51M | 227.88M | 82.13M | 58.32M | 44.45M | 36.38M | 39.83M | 32.95M | 31.41M | 35.74M | 21.7M | 396.81K |
| SG&A % of Revenue | - | - | 65.27% | 52.92% | 65.89% | 58.29% | 51.37% | 59.07% | 73.41% | 70.73% | 43.15% | 51.83% | 57.64% | 47.79% | 47.46% | 51.86% | 74.54% | 42.85% | 40.81% | - |
| Research & Development | 0 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 0 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Operating Income | 479.53M | 150.69M | -475.74M | 96.05M | 29.86M | 514.53M | 276.26M | 166.65M | 45.38M | 28.84M | 48.73M | 22.08M | -7.43M | 4.1M | 7.44M | 7.44M | -11.36M | 17.52M | 6.14M | -396.81K |
| Operating Margin % | 36.84% | 14.62% | -40.87% | 6.64% | 3% | 33.09% | 33.12% | 25.56% | 10.73% | 8.95% | 25.6% | 19.62% | -9.64% | 5.38% | 8.87% | 11.71% | -26.95% | 21% | 11.55% | - |
| Operating Income Growth % | - | 131.67% | -595.3% | 221.65% | -94.2% | 86.25% | 65.77% | 267.2% | 57.34% | -40.8% | 120.65% | 397.16% | -281.33% | -44.93% | 0.01% | 165.5% | -164.84% | 185.22% | 1647.86% | - |
| EBITDA | 512.21M | 185.86M | -430.33M | 145.66M | 69.83M | 540.4M | 295.63M | 185.7M | 59.19M | 39.98M | 53.03M | 22.93M | -6.79M | 5.96M | 8.28M | 8.42M | -10.57M | 18.15M | 6.58M | -396.81K |
| EBITDA Margin % | 39.35% | 18.03% | -36.97% | 10.08% | 7.03% | 34.76% | 35.44% | 28.48% | 13.99% | 12.41% | 27.86% | 20.38% | -8.8% | 7.83% | 9.86% | 13.26% | -25.07% | 21.76% | 12.37% | - |
| EBITDA Growth % | 202.37% | 143.19% | -395.45% | 108.58% | -87.08% | 82.8% | 59.2% | 213.72% | 48.04% | -24.6% | 131.27% | 437.95% | -213.82% | -27.97% | -1.72% | 179.69% | -158.21% | 176.08% | 1756.98% | - |
| D&A (Non-Cash Add-back) | 32.67M | 35.17M | 45.41M | 49.6M | 39.97M | 25.87M | 19.37M | 19.05M | 13.81M | 11.14M | 4.31M | 848K | 646K | 1.86M | 835K | 981K | 792K | 634K | 433K | 0 |
| EBIT | 574.18M | 322.3M | -745.42M | -43.04M | -193.33M | 707.22M | 344.71M | 166.8M | 54.7M | 28.83M | 49.04M | 22.1M | -7.42M | 3.95M | 8.89M | 7.55M | -12.48M | 16.71M | 6.39M | -396.81K |
| Net Interest Income | -63.49M | -89.03M | -129.69M | -152.37M | -138.27M | -92.23M | -64.69M | -48.63M | -32.07M | -7.96M | -1.68M | -817K | -1.25M | -2.64M | -2.41M | -4.41M | -3.15M | -11.24M | -3.9M | 0 |
| Interest Income | 19.08M | 3.71M | 3.62M | 3.88M | 2.73M | 229K | 564K | 1.58M | 1.33M | 420K | 318K | 17K | 12K | 26K | 201K | 476K | 522K | 32K | 158K | 0 |
| Interest Expense | 82.57M | 92.74M | 133.31M | 156.24M | 141M | 92.45M | 65.25M | 50.2M | 33.39M | 8.38M | 2M | 834K | 1.26M | 2.67M | 2.61M | 4.88M | 3.67M | 11.27M | 4.06M | 0 |
| Other Income/Expense | 0 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Pretax Income | 491.61M | 229.56M | -878.73M | -199.28M | -334.34M | 614.76M | 279.46M | 116.59M | 21.3M | 20.45M | 47.05M | 21.27M | -8.68M | 1.28M | 6.28M | 2.66M | -16.14M | 5.43M | 2.33M | -6.62M |
| Pretax Margin % | 37.77% | 22.27% | -75.49% | -13.79% | -33.64% | 39.54% | 33.5% | 17.88% | 5.04% | 6.35% | 24.72% | 18.9% | -11.26% | 1.68% | 7.48% | 4.19% | -38.31% | 6.51% | 4.39% | - |
| Income Tax | 10.05M | -9.88M | 22.13M | -39.12M | -65.25M | 163.96M | 75.44M | 34.64M | 4.9M | 8.51M | 14.32M | 7.69M | -2.89M | 704K | 1.94M | 2.06M | -5.11M | -11.66M | 0 | 2.91M |
| Effective Tax Rate % | 2.04% | -4.31% | -2.52% | 19.63% | 19.52% | 26.67% | 27% | 29.71% | 23.02% | 41.62% | 30.44% | 36.15% | 33.25% | 55% | 30.85% | 77.39% | 31.63% | -214.65% | 0% | -43.9% |
| Net Income | 463.87M | 307.42M | -764.27M | -99.91M | -159.83M | 445.05M | 205.15M | 81.61M | 15.51M | 11.56M | 21.53M | 11.8M | -5.8M | 1.06M | 3.52M | 602K | -11.04M | 16.96M | 263K | 3.71M |
| Net Margin % | 35.63% | 29.82% | -65.65% | -6.91% | -16.08% | 28.63% | 24.59% | 12.51% | 3.67% | 3.59% | 11.31% | 10.49% | -7.52% | 1.39% | 4.19% | 0.95% | -26.19% | 20.33% | 0.49% | - |
| Net Income Growth % | 163.97% | 140.22% | -664.96% | 37.49% | -135.91% | 116.94% | 151.37% | 426.22% | 34.21% | -46.32% | 82.35% | 303.5% | -648.3% | -69.95% | 484.88% | 105.45% | -165.1% | 6347.15% | -92.91% | - |
| Net Income (Continuing) | 481.56M | 239.44M | -900.85M | -160.16M | -269.08M | 450.8M | 204.02M | 81.95M | 16.4M | 11.94M | 32.73M | 13.58M | -5.79M | 576K | 4.34M | 602K | -11.04M | 17.1M | 2.33M | 3.71M |
| Discontinued Operations | 0 | 70.84M | 125.92M | 54.53M | 112.49M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -142K | -2.07M | 0 |
| Minority Interest | 59.01M | 51.27M | 32.16M | 68.45M | 238M | 388.93M | 26.37M | 29.59M | 602K | -184K | 1.04M | -118K | 18K | 12K | 928K | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | 15.18 | 9.80 | -25.46 | -3.69 | -5.95 | 15.09 | 7.56 | 2.96 | 0.58 | 0.48 | 1.17 | 0.73 | -0.60 | 0.71 | 2.38 | 0.41 | -7.86 | 12.15 | 0.17 | 3.18 |
| EPS Growth % | 170.88% | 138.49% | -589.97% | 37.98% | -139.43% | 99.6% | 155.41% | 410.34% | 20.83% | -58.97% | 60.27% | 221.67% | -184.51% | -70.17% | 480.49% | 105.22% | -164.69% | 7047.06% | -94.65% | - |
| EPS (Basic) | - | 9.80 | -25.46 | -3.69 | -5.95 | 15.99 | 7.83 | 3.09 | 0.60 | 0.50 | 1.19 | 0.73 | -0.60 | 0.74 | 2.46 | 0.42 | -7.86 | 19.07 | 0.17 | 3.18 |
| Diluted Shares Outstanding | 30.56M | 30.56M | 30.34M | 29.27M | 28.19M | 29.01M | 26.51M | 27.53M | 26.77M | 24.29M | 18.39M | 16.27M | 9.61M | 1.5M | 1.48M | 1.47M | 1.4M | 1.4M | 1.57M | 1.17M |
| Basic Shares Outstanding | 30.56M | 30.56M | 30.34M | 29.27M | 28.19M | 27.37M | 25.61M | 26.4M | 25.94M | 23.18M | 18.11M | 16.22M | 9.61M | 1.43M | 1.43M | 1.43M | 1.4M | 889.33K | 1.54M | 1.17M |
| Dividend Payout Ratio | - | - | - | - | - | 78% | 18.91% | 50.41% | 146.26% | 144.99% | 24.78% | 44.21% | - | - | - | - | - | 199.65% | 326.24% | - |
Investment Portfolio Concentration Risk
As reported in financial statements, RILY's revenue trajectory remains highly erratic, fluctuating from a low of $179.7M in 2025Q1 to $450.6M in 2026Q1, suggesting that the firm's reliance on episodic liquidation mandates and mark-to-market investment gains creates significant unpredictability in top-line growth performance.
The wide variance in quarterly revenue highlights the firm's sensitivity to deal timing rather than consistent organic growth. Investors should monitor whether the recent revenue expansion in 2026Q1 represents a sustainable recovery in capital markets activity or merely a transient spike driven by non-recurring asset dispositions.
Based on reported figures, gross margins have demonstrated extreme volatility, ranging from a low of 44.2% in 2025Q1 to a peak of 82.3% in 2026Q1, reflecting the shifting composition of revenue between high-margin advisory services and more capital-intensive principal investment activities.
The structural shift in margins appears to be heavily influenced by the firm's ability to monetize distressed assets versus its core fee-based advisory business. This inconsistency suggests that the firm's profitability is less a function of operational efficiency and more a byproduct of the specific nature of quarterly deal flow.
According to recent SEC filings, the company's net income has experienced wild swings, including a significant loss of $433.6M in 2024Q2 followed by a recovery to $213.3M in 2026Q1, indicating that reported EPS is frequently decoupled from core operational performance due to mark-to-market investment volatility.
The reliance on unrealized gains and losses within the principal investment portfolio complicates the assessment of true earnings power. Analysts should exercise caution when evaluating net margins, as these figures appear to be heavily influenced by accounting adjustments rather than sustained cash-generative operational success.
As evidenced by the historical income statement data, the firm's transition from operating losses in 2024 to profitability in 2026 remains fragile, with the potential for rapid margin compression if the current reliance on episodic liquidation and investment gains fails to materialize in future periods.
Short-sellers may focus on the firm's historical inability to maintain positive operating income during market downturns, as seen in the persistent operating losses throughout 2024. This pattern suggests that the firm's cost structure may be insufficiently flexible to withstand prolonged periods of reduced capital markets activity.
Quick answers to the most common questions about buying RILY stock.
BRC Group Holdings, Inc. (RILY) is profitable, generating $307.4M in net income for the fiscal year ending 2025 with a net profit margin of 29.8%.
BRC Group Holdings, Inc. (RILY) reported an operating income of $150.7M, resulting in an operating profit margin of 14.6%. This margin reflects the operational efficiency of the business before interest and taxes.
BRC Group Holdings, Inc. (RILY) generated $669.8M in gross profit for the year, representing a gross profit margin of 65.0%. This demonstrates the company's core pricing power and production efficiency.