Heritage Global Inc. (HGBL) Form 10-Q — Aug 13, 2026

$HGBLForm 10-QFiled Aug 13, 2026, 4:00 PM ET0001193125-26-349109Original filing

Heritage Global posted a Q2 2026 net loss of $15.9 million, or $(0.46) per share, swinging from net income of $1.6 million ($0.05 per share) a year earlier, as total revenues slipped to $12.3 million from $14.3 million. The loss was driven by roughly $21.7 million of non-cash charges: an $18.2 million other-than-temporary impairment of equity method investments plus a $3.5 million credit loss reserve increase, both tied to the company's largest Specialty Lending borrower, which has been in default since June 2024.

Key figures

Revenue: $12.27 million Q2 2026 (vs $14.30 million Q2 2025); six months $24.99 million (vs $27.76 million)
Net Income: -$15.89 million Q2 2026 (vs +$1.64 million Q2 2025); six months -$15.17 million
Total Debt: $4.1 million C3bank mortgage (2021 Credit Facility at zero balance; matured July 27, 2026)
Total Assets: $70.38 million (vs $88.44 million at Dec 31, 2025)
Cash Position: $13.18 million (vs $20.52 million at Dec 31, 2025)
Deal Value Usd: $8.5 million (DebtX/The Debt Exchange acquisition); up to ~$2.0 million (Boston Note Company, contingent milestones)
Shares Outstanding: 34639445
Sga q2 2026: $10.8 million vs $6.1 million year-ago (+77%)
Working capital: $9.4 million (vs $18.1 million at Dec 31, 2025)
Services revenue q2: $7.9 million vs $10.3 million year-ago
Stockholders equity: $51.9 million (June 30, 2026) vs $67.0 million (Dec 31, 2025)
Buyback 2025 program: $7.5 million authorized through June 30, 2028; ~$7.2 million remaining; 103,265 shares repurchased in Q2 for ~$0.1 million
Debtx contribution 6m: $2.4 million revenue, $0.5 million net loss
Q2 2026 loss per share: $(0.46) vs $0.05 Q2 2025
Equity method impairment: $18.2 million non-cash charge (Q2 2026)
Total impairment charges: ~$21.7 million recognized for period ended June 30, 2026
Federal nol carryforwards: $15.5 million (begin to expire 2026)
Cash used in operations 6m: $1.1 million vs +$4.5 million provided year-ago
Credit loss reserve increase: $3.5 million (notes receivable allowance; total allowance $4.0 million)
Nonaccrual loans amortized cost: $4.6 million ($1.1 million net of allowance)

Price after filing

1 day: +0.9%7 days: +0.9%30 days: +30.6%

Close on the filing date to close N calendar days later (from $1.08). Historical, not a forecast.

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