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BRC Group Holdings (RILY) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 5, 2026 · BRC Group Holdings (RILY) Q3 2026 earnings results →
Q3 2026 Revenue down 88% year over year to $33.0M · 750¢ of every $1 of revenue lost · operating margin -423.0%
BRC Group Holdings made $33.0M in Q3 2026 (-88% Y/Y): Corporate finance, consulting and investment banking fees $23.1M, Commissions, fees and reimbursed expenses $8.8M, Fair value adjustments on loans $1.2M. Operating margin -423.0%, net loss $248M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 5, 2026.
Drawing the Sankey…
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What changed this quarter
Revenue was $33.0M in Q3 2026, down 88% year over year and down 86% from the previous quarter. Corporate finance, consulting and investment banking fees was the largest line at 70% of revenue. Corporate finance, consulting and investment banking fees lost $30.8M year over year (down 57%), 13% of the total change.
Operating costs exceeded revenue by $139.7M, an operating margin of -423.0%. Total costs fell 19% while revenue fell 88%. The quarter ended with a net loss of $247.7M, after a profit of $21.6M the previous quarter. Minority interests bore $6.7M of it: to shareholders the quarter was a loss of $241.0M. Net interest and other expense of $132.0M was the main reason.
Operating cash flow was $104.0M. Non-cash charges added back $7.4M of depreciation and amortization and $1.6M of share-based compensation. Working capital and other items added $342.7M. Capital expenditures of $1.6M left free cash flow of $102.4M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 5, 2026 | $33.0M | -88% | -423.0% | −$248M | $104M |
| Q2 2026 | 10-Q | Aug 6, 2026 | $239M | +6% | 16.0% | $20.5M | −$18.2M |
| Q1 2026 | 10-Q | May 7, 2026 | $352M | +89% | 43.4% | $213M | $38.1M |
| Q4 2025 | 10-K | Mar 31, 2026 | $278M | +56% | 21.9% | $86.8M | $26.2M |
| Q3 2025 | 10-Q | Jan 14, 2026 | $278M | +58% | 23.5% | $91.1M | −$60.6M |
| Q2 2025 | 10-Q | Dec 15, 2025 | $225M | +137% | 4.8% | $139M | −$25.6M |
| Q1 2025 | 10-Q | Nov 18, 2025 | $186M | -38% | -33.0% | −$16.6M | $184K |
Charts
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💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About BRC Group Holdings
BRC Group Holdings, Inc. (Nasdaq: RILY) (the “Company” or “BRCGH”), which changed its name from B. Riley Financial, Inc. effective January 1, 2026, is a diversified holding company offering a platform of businesses, including financial services (with complementary banking and wealth management businesses), telecom, retail, and investments in equity, debt and venture capital. We refer to BRCGH as having a “platform” because of the unique composition of our financial services businesses and diversification of its operations. Our core financial services platform provides small cap and middle market companies customized end-to-end solutions at every stage of the enterprise life cycle. Our complementary banking business offers comprehensive services in capital markets, sales, trading, research, merchant banking, M&A, and restructuring.
In its own words, from its 10-K, filed Mar 31, 2026.
BRC Group Holdings against its Investment Advice peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -88% against the peers' median +6%. Operating margin: -423.0% against the peers' median 24.0%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| RILY BRC Group Holdings | Q3 2026 | $33.0M | -88% | -423.0% |
| KKR KKR | Q2 2026 | $5.7B | +12% | 24.0% |
| AMP Ameriprise Financial | Q3 2026 | $5.2B | +6% | 28.9% |
| APO Apollo Global Management | Q3 2026 | $4.7B | -52% | -30.9% |
| BX Blackstone | Q3 2026 | $3.1B | -0.8% | 46.9% |
| BEN Franklin Templeton | Q4 FY26 | $2.4B | +4% | 14.6% |
| TROW Price T Rowe Group | Q3 2026 | $2.0B | +6% | 38.4% |
| IVZ Invesco | Q3 2026 | $1.9B | +14% | 23.3% |
| BAM Brookfield Asset Management | Q2 2026 | $1.8B | +61% | 62.4% |
Source: BRC Group Holdings 10-Q on SEC EDGAR · CIK 1464790 · Investment Advice
Guidance and outlook
13F: who owns RILY and who is buying
More on RILY
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results
- BRC Group Holdings operating margin by quarter
- BRC Group Holdings net income by quarter
- BRC Group Holdings free cash flow by quarter
- BRC Group Holdings capital expenditures by quarter
- BRC Group Holdings Corporate finance, consulting and investment banking fees revenue by quarter
- BRC Group Holdings Commissions, fees and reimbursed expenses revenue by quarter
- BRC Group Holdings Fair value adjustments on loans revenue by quarter