rewrite this title B. Riley Financial, Inc. (RILY) Business Update Call

B. Riley Financial, Inc. (NASDAQ:RILY) Business Update Call August 13, 2025 4:30 PM ET

Company Participants

Bryant Richard Riley – Co-Founder, Chairman & Co-CEOScott Yessner – Executive Vice President & CFOThomas J. Kelleher – Co-Founder, Co-CEO & Director

Conference Call Participants

Operator

Good day, and welcome to the Fiscal Year 2024 Preliminary Results (sic) [ Fiscal Year 2024 Results ] and a Preliminary Financial and Business Update for First Half 2025.

My name is Matthew, and I will be your Evercall moderator. [Operator Instructions]

At this time, I will turn the call over to Bryant Riley, Chairman, Co-Founder and Co-CEO of B. Riley Financial. You may now begin.

Bryant Richard Riley

Thank you, and good afternoon. We appreciate everyone joining us. In the last 12 months, B. Riley has made significant progress with our strategy to realign our operating businesses towards Financial Services and Capital Markets, improve our capital structure and reduce our debt. Before I expand on these achievements, I would like to share a 2024 audit status update.

We are in the late stages of documenting the 2024 annual audit and we expect to file the 10-K shortly. Simultaneously, we have been documenting our first and second quarter 10-Qs, with both filings ready for auditor review after the 10-K filing. Scott will expand on our financial operations later in the call.

Before walking through the details, we need to first thank our coworkers who have labored tirelessly to deliver for our shareholders. This commitment has resonated and helped drive strong client retention. With their collective efforts, we have refocused our strategy on our Financial Services companies, supplemented by strong cash flows from our other subsidiaries, primarily Telecom.

We believe we are well positioned to deploy capital and leverage cash generation from our diversified operating company portfolio. We’ve