BRC Group Holdings, formerly known as B. Riley before rebranding amid multiple financial and regulatory setbacks, surged after submitting a long-delayed quarterly earnings report, extending a rally that has seen its share price more than double since the beginning of the year.

The stock soared almost 26% to $9.50 on Thursday and was up as much as 45% at its intraday peak. Still trading under the ticker RILY, the shares have risen roughly 103% year-to-date, rebounding sharply after heavy short interest from investors who had expected the company’s difficulties to persist.

On Wednesday, BRC released its third-quarter 2025 financial results and filed the corresponding report with the U.S. Securities and Exchange Commission, satisfying Nasdaq requirements needed to maintain its exchange listing. Despite the recent surge, the stock remains far below levels seen prior to the bankruptcy of a major holding, Franchise Group, and the guilty plea of its former chief executive, Brian Kahn, related to the collapse of an unrelated hedge fund.

B. Riley was not charged in that matter and has stated that it was unaware of Kahn’s conduct at the hedge fund. Nevertheless, fears surrounding potential liabilities connected to Franchise Group, combined with prolonged delays in financial disclosures, have weighed heavily on the shares, which have fallen sharply from an intraday high of over $60 in 2023.

According to the company’s statement, the latest quarterly filing reported net income of $89 million, a significant turnaround from a $286 million loss recorded in the same period last year.

“With today’s filings, BRC has satisfied Nasdaq’s continued listing requirements for quarterly reporting and has brought all required SEC periodic disclosures up to date,” Chief Financial Officer Scott Yessner said in the statement.