Filing Flows › BRC Group Holdings (RILY) › Q3 2025
BRC Group Holdings (RILY) Q3 2025 earnings results (third quarter 2025)
10-Q filed Jan 14, 2026
BRC Group Holdings (RILY) reported revenue of $278M for the third quarter 2025 (Q3 2025), +58% from a year earlier and +23% from the quarter before. Operating margin was 23.5%, net earnings $91.1M (32.8% of revenue).
BRC Group Holdings, Q3 2025: revenue $278M (+58% year over year), operating margin 23.5%, net earnings $91.1M, operating cash flow −$60.6M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $278M | +23% | +58% |
| Operating profit | $65.4M | +505% | — |
| Net earnings | $91.1M | -35% | — |
| Operating cash flow | −$60.6M | — | — |
What changed
Revenue was $277.9M in Q3 2025, up 58% year over year and up 23% from the previous quarter. Subscription services was the largest line at 21% of revenue. Fair value adjustments on loans added $72.8M year over year, 71% of the total change. Interest income - securities lending declined 64%.
Operating profit was $65.4M, a 23.5% margin (up 70.4 points year over year). Total costs fell 17% while revenue rose 58%. Net earnings were $91.1M. The effective tax rate was 1.2%. Non-operating items added $31.3M, 32% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was −$60.6M. Non-cash charges added back $8.4M of depreciation and amortization and $2.4M of share-based compensation. Working capital and other items used $167.0M. Capital expenditures of $1.1M exceeded it, leaving free cash flow of −$61.7M.
Questions
What was BRC Group Holdings' revenue in the third quarter 2025?
BRC Group Holdings (RILY) reported revenue of $278M for the third quarter 2025 (Q3 2025), +58% from a year earlier and +23% from the quarter before.
Was BRC Group Holdings profitable in the third quarter 2025?
Operating profit was $65.4M (23.5% of revenue) and net earnings $91.1M.
Source: BRC Group Holdings 10-Q on SEC EDGAR.