BRC Group Holdings (RILY) Q4 2025 earnings summary

Executive summary

• Achieved strong financial performance in Q4 and full year 2025, driven by investment appreciation, asset sales, and improved operating segment results.

• Net income available to common shareholders was $84.8M in Q4 2025 and $299.4M for the full year, a significant turnaround from a net loss in 2024.

• Adjusted EBITDA reached $104.2M in Q4 and $231.1M for the year, both up sharply year-over-year.

• Completed strategic asset sales and reduced total debt by $346.6M, with net debt down to $627.0M at year-end.

• Regained SEC and Nasdaq compliance, transitioned to a new CFO and auditor, and resolved operational distractions.

Financial highlights

• Q4 2025 revenues were $278.4M, up from $178.6M in Q4 2024; full year revenues were $967.6M, up from $746.4M in 2024.

• Investment gains of $53.7M in Q4 and $76.8M for the year, compared to losses in 2024.

• Basic and diluted EPS were $2.77 in Q4 and $9.80 for the year, compared to $0.02 and $(25.46) in 2024.

• Cash, cash equivalents, and restricted cash totaled $229.3M at year-end.

• Securities and other investments owned increased to $446.8M from $282.3M year-over-year.

Outlook and guidance

• Entering 2026 with plans to expand client services, drive earnings, increase investment portfolio value, reduce corporate costs, and further lower debt.

• Positioned to capitalize on market opportunities and drive enterprise-wide efficiencies.