Exhibit 99.1

www.brileysecurities.com

B. Riley Securities Provides Post-Carve Out Business Update and Financial Highlights

ARLINGTON, VA, August 7, 2025 – B. Riley Securities Holdings, Inc. (“B. Riley Securities,” “BRS” or the “Company”), a leading middle market investment bank, today provided a business update and certain preliminary financial results for its first full quarter since the previously announced carve-out transaction from B. Riley Financial, Inc. (Nasdaq: RILY) (“BRF”) in March 2025.

Management Commentary

“It’s been a busy summer at B. Riley Securities, and we’re pleased to share a business update including the results of our first full quarter following our carve-out from BRF,” said Jimmy Baker, Co-CEO and Head of Capital Markets. “As most indices reached new highs, client activity increased significantly during the quarter, driving sequential improvements in both Institutional Brokerage commissions and Investment Banking revenue. We executed and advised on a diverse range of financing needs, meeting clients’ emerging priorities including crypto treasury implementation and advancing AI adoption. Over the past year, we’ve helped clients raise over $8 billion to support AI-driven investments – a trend that remained a key driver of activity throughout the second quarter. Building upon the convertibles practice we established last year, we’ve expanded our variable rate transaction capabilities to offer our clients flexible, cost-effective financing, backed by our firm’s growing balance sheet. This progress, along with strong at-the-market issuance volume, has continued into the third quarter.”

“We’ve continued to strengthen our organization through key team additions and enhanced capabilities that position our firm to deliver increasing value to middle market clients throughout market cycles,” said Andy Moore, Chairman and Co-CEO. “We’ve added talent across the platform, including seven senior strategic hires who have reinforced leadership across key practice areas, expanded sector coverage and deepened domain expertise in areas such as Real Estate, Healthcare, Digital Assets, Consumer, TMT, FinTech, Renewables, and Industrials such as Aerospace & Defense. Our research-led franchise remains a foundational pillar and key differentiator of our business, demonstrated by the draw of several hundred companies and institutional investors that participated in our 25th Annual Investor Conference in May.”

“We have refocused on our strengths as a mid-market merchant bank, stabilized and strengthened key teams, and begun to recapture meaningful momentum in our core business lines,” continued Mr. Baker. “After a challenging Q1 marked by several revenue headwinds, we’ve since executed our carve-out and delivered month-over-month improvement throughout Q2 and into the early part of Q3. It’s deeply rewarding to see our clients and teammates realize the benefits of our platform, and we are especially grateful for the continued support and dedication through our transition earlier this year. While we’ve only just completed our first quarter post-carve-out, we’re encouraged by the market’s response to our strategy, and we look forward to providing future updates to our stakeholders.”

Financial Highlights

For the three-month period ended June 30, 2025, preliminary unaudited financial results reflect total revenue of approximately $60.9 million and adjusted net revenue of approximately $51.5 million. GAAP net income was approximately $12.5 million, while adjusted net income totaled approximately $8.6 million.

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The adjusted results presented above, including Adjusted Net Revenue and Adjusted Net Income, are non-GAAP metrics that BRS believes offer a clearer view of the firm’s underlying operating performance. A description of the adjustments made to arrive at non-GAAP figures is provided in the note regarding the use of non-GAAP financial measures in the Appendix of this press release.

Revenue and net income may vary from period to period based on the number, size, and timing of completed transactions, among other factors. Accordingly, these results may not be indicative of broader business momentum or longer-term performance.

Operational & Strategic Update

About B. Riley Securities

BRS provides a full suite of investment banking and capital markets services to corporations, financial sponsors, and institutional investors across all industry verticals. Services include initial, secondary, and follow-on offerings, institutional private placements, merger and acquisition (M&A) advisory, SPACs, corporate restructuring, and liability management. Widely recognized for its thematic proprietary equity research, clients benefit from BRS' extensive network, industry expertise, and proven execution capabilities through its end-to-end financial services platform. For more information, visit www.brileysecurities.com.

Forward-Looking Statements

This release contains forward-looking statements subject to risks and uncertainties, including the Company’s ability to execute under its new structure, market conditions, and client transaction volumes. Results could differ materially from expectations. Please refer to risk disclosures in B. Riley Financial, Inc.’s SEC filings for detailed information.

Note Regarding Use of Non-GAAP Financial Measures

Certain information set forth herein, including adjusted net revenue and adjusted net income (loss), may be considered non-GAAP financial measures. B. Riley Securities believes this information is useful to investors because it provides a basis for measuring the operating performance of the Company's business and its revenues and cash flow, (i) excluding in the case of adjusted net revenue, trading gains (losses) on legacy investment positions (net of “regular way” fixed income trading revenue) and fair value adjustments on loans, and including Securities Lending interest expense and (ii) excluding in the case of adjusted net income, fair value adjustments, stock-based compensation, trading gains (losses) on legacy investment positions (net of “regular way” fixed income trading revenue), fair value adjustments on loans and other investment-related expenses, and including the estimated related tax expense or benefit on the aforementioned adjustments, that would normally be included in the most directly comparable measures calculated and presented in accordance with Generally Accepted Accounting Principles (“GAAP”). In addition, the Company's management uses these non-GAAP financial measures along with the most directly comparable GAAP financial measures in evaluating the Company's operating performance, management compensation, capital resources, and cash flow. Non-GAAP financial measures should not be considered in isolation from, or as a substitute for, financial information presented in compliance with GAAP, and non-financial measures as reported by the Company may not be comparable to similarly titled amounts reported by other companies.

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B. RILEY SECURITIES HOLDINGS, INC.

Condensed Consolidated Balance Sheet as of June 30, 2025

(Preliminary, Unaudited)

(in thousands)

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B. RILEY SECURITIES HOLDINGS, INC.

Condensed Consolidated Statements of Operations

Quarter Ended June 30, 2025

(Preliminary, Unaudited)

(in thousands)

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B. RILEY SECURITIES HOLDINGS, INC.

Reconciliation of GAAP to Adjusted Q2 2025 Financial Results

(Preliminary, Unaudited)

(in thousands)

Exhibit 99.2

B. Riley Financial Shares Preliminary Fourth Quarter and Full Year 2024 Results and Financial Estimates and Business Update for First Half 2025

First Half 2025 Net Income Available to Common Shareholders Expected to be in the Range of $125.0 Million to $145.0 Million, or $4.08 to $4.74 Diluted Net Income per Common Share

As of June 30, 2025, Estimated Cash of $268 Million, Total Debt of $1.46 Billion, and Net Debt in the Range of $809 Million to $839 Million; Total Debt Estimated to Have Decreased by $600 Million from September 30, 2024; Net Debt Estimated to Have Decreased by $544 Million to $574 Million from September 30, 2024

Preliminary Year-End 2024 Net Loss Available to Common Shareholders is $772.3 Million, or $25.46 Diluted Net Loss per Common Share

LOS ANGELES, August 13, 2025 – B. Riley Financial, Inc. (NASDAQ: RILY) (“BRF” or the “Company”), a diversified financial services company, today is providing preliminary fourth quarter and full year 2024 results and financial estimates, and a business update for the first half of 2025, ended June 30, 2025.

First Half 2025 Highlights

Bryant Riley, Chairman and Co-Chief Executive Officer of B. Riley, commented: “We have taken aggressive, decisive and necessary action over the last year to align our balance sheet while continuing to invest in our business and operations. As we look forward, we are laser focused on our financial services businesses, which have seen increasing momentum facilitated by cash flows from our Telecom businesses.

“As demonstrated by the Great American transaction last year, and our subsequent JOANN’s liquidation equity investment, our strategic objective is to maintain both economic and business relationship upside throughout the process of rightsizing our balance sheet.

Scott Yessner, Chief Financial Officer of B. Riley, commented: “Our team has worked tirelessly through a complex audit, challenging operating environment, and delays outside their control. We are in the final stages of documenting the 2024 audit and will file the 10-K shortly. We added a national accounting firm to provide staff augmentation across multiple departments in accounting and financial operations in early July. With our combined teams, we have been documenting our 1st quarter and 2nd quarter filings during the 2024 10-K process. We expect to file both 10-Qs in 30 to 45 days after the 10-K.”

Tom Kelleher, Co-Chief Executive Officer of B. Riley, commented: “As exemplified in the B. Riley Securities recent announcement, many of our operating businesses continue to generate meaningful results. Separately, we will continue to ensure we have the best resources in place, assessing opportunities across our portfolio to invest and support our operating companies and balance the Company’s operational footprint.”

Summary of Preliminary Unaudited Estimates for the Six-Months Ended June 30, 2025

Preliminary Year-End 2024 Summary

Preliminary Fourth Quarter 2024 Summary

Additional Updates

Oaktree Capital Management Financing: The Company amended its senior secured credit agreement with funds managed by Oaktree to provide incremental flexibility, including:

In February 2025, the Company entered into its initial senior secured credit agreement with Oaktree, a portion of which was used to retire its existing debt under the Nomura senior secured credit agreement, with the remaining funds used for general working capital.

The Preliminary Fourth Quarter, Full Year 2024, and First Half 2025 update are not a comprehensive statement of the Company’s financial results, and are unaudited and subject to change.

About B. Riley Financial

B. Riley Financial (BRF) is a diversified financial services company that through its operating entities or affiliates deliver tailored solutions to meet the strategic, operational, and capital needs of its clients and partners. BRF leverages cross-platform expertise to provide clients with full service, collaborative solutions at every stage of the business life cycle. Through its subsidiaries and affiliated entities, BRF provides end-to-end financial services across investment banking, institutional brokerage, private wealth and investment management, financial consulting, corporate restructuring, appraisal and valuation, auction, and liquidation services. BRF opportunistically invests to benefit its shareholders, and certain affiliates originate and underwrite senior secured loans for asset-rich companies. BRF refers to B. Riley Financial, Inc. and/or one or more of its subsidiaries or affiliates. For more information, please visit www.brileyfin.com. For more information, please visit www.brileyfin.com.

Footnotes

See “Note Regarding Use of Non-GAAP Financial Measures” for further discussion of these non-GAAP terms. For a reconciliation of Adjusted EBITDA, and Operating Adjusted EBITDA to the comparable GAAP financial measures, please see the Appendix hereto.

(1) Operating Revenues is defined as the sum of (i) service and fees, (ii) interest income – loans, (iii) interest Income - securities lending, (iv) fixed income spread, and (v) sales of goods.

(2) Investment Gains (Losses) is defined as sum of (i) trading income (loss) and (ii) fair value adjustments on loans less fixed income spread.

(3) Adjusted EBITDA includes earnings from continuing operations before interest, taxes, depreciation, amortization, restructuring charge, share-based payments, gain or loss on extinguishment of loans, gain on bargain purchase, impairment of goodwill and tradenames, and transaction related and other costs.

(4) Operating Adjusted EBITDA is defined as Adjusted EBITDA excluding (i) trading income (loss) net of fixed income spread, (ii) fair value adjustments on loans, (iii) realized and unrealized gains (losses) on investments, and (iv) other investment-related expenses.

(5) Investment Adjusted EBITDA is defined as the sum of (i) trading income (loss) net of fixed income spread, (ii) fair value adjustments on loans, (iii) realized and unrealized gains (losses) on investments, and (iv) other investment-related expenses.

(6) Total Investments is defined as the sum of (a) securities and other investments owned, at fair value net of (i) securities sold not yet purchased and (ii) noncontrolling interest related to investments from continuing operations, (b) loans receivable, at fair value net of loan participations sold, and (c) other investments reported in prepaid and other assets.

(7) Net Debt is defined as the sum of (a) term loans, net, (b) senior notes payable, net, (c) revolving credit facility, and (d) notes payable, net of (i) cash and cash equivalents, net of noncontrolling interest, (ii) restricted cash, (iii) due from clearing brokers net of due to clearing brokers, and (iv) Total Investments.

Note Regarding Use of Non-GAAP Financial Measures

Certain of the information set forth herein, including Adjusted EBITDA, Operating Adjusted EBITDA, Investment Adjusted EBITDA, Operating Revenues, Investment Gains (Losses), Total Investments, and Net Debt, may be considered non-GAAP financial measures. B. Riley Financial believes this information is useful to investors because it provides a basis for measuring the Company’s available capital resources, the operating performance of its business and its revenues and cash flow, (i) excluding in the case of Adjusted EBITDA, net interest expense, provisions for or benefit from income taxes, depreciation, amortization, fair value adjustment, restructuring charge, gain on extinguishment of loans, gain on bargain purchase, impairment of goodwill and tradenames, stock-based compensation and transaction and other expenses, (ii) excluding in the case of Operating Adjusted EBITDA, the aforementioned adjustments for adjusted EBITDA as well as trading income (losses) net of fixed income spread, fair value adjustments on loans, realized and unrealized gains (losses) on investments, and other investment related expenses, (iii) including in the case of Investment Adjusted EBITDA, trading income (losses) net of fixed income spread, fair value adjustments on loans, realized and unrealized gains (losses) on investments, and other investment related expenses, (iv) excluding in the case of Operating Revenues, trading income (loss) and fair value adjustments on loans less fixed income spread, (v) including in the case of Investment Gains (Losses), the aforementioned excluded items of Operating Revenues, (vi) including in the case of Total Investments, securities and other investments owned, at fair value net of (a) securities sold not yet purchased and (b) noncontrolling interest related to investments from continuing operations, loans receivable, at fair value net of loan participations sold, and other investments reported in prepaid and other assets, (vii) including in the case of Net Debt, term loans, net, senior notes payable, net, revolving credit facility, and notes payable net of (a) cash and cash equivalents, net of noncontrolling interest, (b) restricted cash, (c) due from clearing brokers net of due to clearing brokers, and (d) aforementioned included items of Total Investments, that would normally be included in the most directly comparable measures calculated and presented in accordance with Generally Accepted Accounting Principles (“GAAP”). In addition, the Company’s management uses these non-GAAP financial measures along with the most directly comparable GAAP financial measures in evaluating the Company’s operating performance, management compensation, capital resources, and cash flow. Non-GAAP financial measures should not be considered in isolation from, or as a substitute for, financial information presented in compliance with GAAP, and non-financial measures as reported by the Company may not be comparable to similarly titled amounts reported by other companies.

Forward-Looking Statements

Statements made in this press release that are not descriptions of historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and are based on management’s current expectations and assumptions and are subject to risks and uncertainties. If such risks or uncertainties materialize or such assumptions prove incorrect, our business, operating results, financial condition, and stock price could be materially negatively affected. You should not place undue reliance on such forward-looking statements, which are based on the information currently available to us and speak only as of today’s date. All statements other than statements of historical fact are forward-looking statements. These forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the Company’s performance or achievements to be materially different from any expected future results, performance, or achievements. Forward-looking statements speak only as of the date they are made and the Company assumes no duty to update forward-looking statements, except as required by law. Actual future results, performance or achievements may differ materially from historical results or those anticipated depending on a variety of factors, some of which are beyond the control of the Company, including, but not limited to, the risks described from time to time in the Company’s periodic filings with the SEC, including, without limitation, the risks described in the Company’s 2023 Annual Report on Form 10-K and Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2024 under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” (as applicable). These factors should be considered carefully, and readers are cautioned not to place undue reliance on such forward-looking statements. All information is current as of the date this press release is issued, and the Company undertakes no duty to update this information.

B. RILEY FINANCIAL, INC. AND SUBSIDIARIES

Preliminary Condensed Consolidated Balance Sheets

(Unaudited)

(Dollars in thousands, except par value)

B. RILEY FINANCIAL, INC. AND SUBSIDIARIES

Preliminary Consolidated Statement of Operations

(Unaudited)

(Dollars in thousands, except share data)

B. RILEY FINANCIAL, INC. AND SUBSIDIARIES

Preliminary Adjusted EBITDA and Operating Adjusted EBITDA Reconciliations

(Unaudited)

(Dollars in thousands)

B. RILEY FINANCIAL, INC. AND SUBSIDIARIES

Preliminary Operating Revenues Reconciliation

(Unaudited)

(Dollars in thousands)

B. RILEY FINANCIAL, INC. AND SUBSIDIARIES

Preliminary Total Investments and Net Debt

(Unaudited)

(Dollars in thousands)

B. RILEY FINANCIAL, INC. AND SUBSIDIARIES

Estimated Adjusted EBITDA and Operating Adjusted EBITDA Reconciliations

(Unaudited)

(Dollars in thousands)

B. RILEY FINANCIAL, INC. AND SUBSIDIARIES

Estimated Total Investments and Net Debt

(Unaudited)

(Dollars in thousands)

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