Heritage Global (HGBL) Financial Statements & Analysis

Heritage Global (HGBL) Income Statement

Heritage Global reported revenue of $50.98M in fiscal 2025 (fiscal year ended Dec 31, 2025), up 12.4% from $45.36M a year earlier. Net income was $3.59M, down 30.8% year over year, a net margin of 7.0%. Gross margin was 27.1% and operating margin 11.0%. In the most recent quarter, Q2 fiscal 2026 (ended Jun 30, 2026), revenue was $12.27M, down 14.3% from the same quarter a year earlier.

Heritage Global Income Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Heritage Global Inc. income statement - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Revenue & Gross Profit
Revenue	50.98	45.36	60.55	46.91	25.79	26.18	26.17	23.66	20.13
Cost of Revenue	37.17	31.15	39.15	20.91	14.78	9.11	16.69	8.98	8.97
Gross Profit	13.80	14.21	21.39	26.00	11.01	17.07	9.48	14.69	11.16
Operating Expenses
Research & Development	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Selling, General & Administrative	7.76	7.50	7.09	21.33	8.06	14.45	6.92	10.29	9.34
Operating Expenses	8.22	5.15	7.08	14.88	8.52	14.81	6.43	10.61	10.80
Operating Income	5.59	9.07	14.32	11.12	2.49	2.26	3.05	4.08	0.36
Other Income/Expense
Interest Income	0.13	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Interest Expense	0.00	0.09	0.32	-0.11	0.02	-0.05	0.06	0.21	0.10
Other Income/Expense	0.26	-0.09	-0.32	-0.11	0.52	-0.05	-0.06	-0.06	-1.03
Income
Income Before Tax	5.85	8.97	14.00	11.01	2.99	6.01	2.99	4.02	-0.67
Income Tax Expense	2.26	3.79	1.52	-4.49	-0.06	-3.64	-0.91	0.27	-0.42
Net Income	3.59	5.18	12.48	15.49	3.05	9.66	3.90	3.75	-0.25
Net Income - Continuous Operations	3.59	5.18	12.48	15.49	3.05	9.66	3.90	3.75	-0.25
Net Income - Discontinued Operations	-	-	-	-	-	-	-	-	-
EBITDA	6.75	10.31	14.83	4.68	3.47	2.63	3.36	4.55	-0.26
EBIT	5.59	6.38	13.26	4.14	3.01	2.26	-	-	-
Depreciation & Amortization	1.16	1.25	0.51	0.54	0.46	0.36	0.31	0.32	0.31
Earnings Per Share
Basic EPS	-	-	-	-	-	-	-	-	-
Diluted EPS	-	-	-	-	-	-	-	-	-
Basic Shares Outstanding	34.83	37.02	36.68	36.02	35.46	30.20	28.66	28.58	28.47
Diluted Shares Outstanding	35.43	37.13	37.59	37.10	36.90	32.71	29.27	28.90	28.47

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Heritage Global Financial Statements

What was Heritage Global's revenue in fiscal 2025?

Heritage Global reported revenue of $50.98M in fiscal 2025 (fiscal year ended Dec 31, 2025). That was up 12.4% from $45.36M a year earlier.

Is Heritage Global profitable?

Yes. Heritage Global earned net income of $3.59M in fiscal 2025, a net margin of 7.0%. In fiscal 2024 it earned $5.18M.

What is Heritage Global's operating margin?

Heritage Global's operating income was $5.59M on revenue of $50.98M in fiscal 2025, an operating margin of 11.0%, compared with 20.0% a year earlier.

What is net profit margin?

Net profit margin is net income divided by revenue. It shows how much of each dollar of sales a company keeps as profit after all costs, interest and taxes. Full definition