Filing Flows › BRC Group Holdings (RILY) › Q1 2025
BRC Group Holdings (RILY) Q1 2025 earnings results (first quarter 2025)
10-Q filed Nov 18, 2025
BRC Group Holdings (RILY) reported revenue of $186M for the first quarter 2025 (Q1 2025), -37% from a year earlier and +70% from the quarter before. Operating margin was -33.0%, net loss $16.6M (8.9% of revenue).
BRC Group Holdings, Q1 2025: revenue $186M (-38% year over year), operating margin -33.0%, net loss $16.6M, operating cash flow $184K. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $186M | +70% | -37% |
| Operating profit | −$61.5M | — | — |
| Net earnings | −$16.6M | — | — |
| Operating cash flow | $184K | — | -100% |
What changed
Revenue was $186.1M in Q1 2025, down 37% year over year and up 70% from the previous quarter. Sale of goods was the largest line at 26% of revenue. Interest income - securities lending lost $37.0M year over year (down 98%), 33% of the total change.
Operating costs exceeded revenue by $61.5M, an operating margin of -33.0%. Total costs fell 21% while revenue fell 37%. The quarter ended with a net loss of $16.6M, wider than the previous quarter's $5.6M loss. Minority interests bore $6.6M of it: to shareholders the quarter was a loss of $10.0M. Non-operating items added $41.9M, -214% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $184K (down 100% year over year). Non-cash charges added back $10.1M of depreciation and amortization and $3.6M of share-based compensation. Working capital and other items added $3.1M. Capital expenditures of $6.7M exceeded it, leaving free cash flow of −$6.5M.
Questions
What was BRC Group Holdings' revenue in the first quarter 2025?
BRC Group Holdings (RILY) reported revenue of $186M for the first quarter 2025 (Q1 2025), -37% from a year earlier and +70% from the quarter before.
Was BRC Group Holdings profitable in the first quarter 2025?
Operating loss was $61.5M (-33.0% of revenue) and net loss $16.6M.
Source: BRC Group Holdings 10-Q on SEC EDGAR.