HMH Holding Inc (HMH) Form 10-Q — Aug 5, 2026
HMH Holding Inc. reported second-quarter 2026 revenue of $170.8 million, down 16.0% year over year, as product revenue fell 65.1% on a lower backlog entering the quarter and delayed equipment deliveries in the Middle East. The company swung to a Q2 net loss of $5.0 million with an operating loss of $4.8 million, driven largely by $22.8 million of IPO-related stock-based compensation; excluding one-time items, Adjusted EBITDA rose to $33.9 million with margin improving to 19.8% from 16.1% a year earlier.
Key figures
- Eps
- $0.43 basic / $0.42 diluted (Q2 2026); $1.44 basic / $1.26 diluted (six months 2026)
- Revenue
- 170822000
- Revenue Yoy
- -16.0% (Q2 2026 vs Q2 2025); -14.9% for six months
- Total Assets
- 1362565000
- Cash Position
- 119705000
- Shares Outstanding
- 12,042,625 Class A and 31,891,652 Class B as of July 31, 2026
- Ipo Net Proceeds
- approximately $197.8 million (10,520,000 shares at $20.00)
- Revenue Q2 2025
- 203457000
- Total Liquidity
- approximately $195 million
- Revolver Capacity
- $75.0 million undrawn, maturing June 17, 2028
- Greenshoe Net Proceeds
- $12.9 million (685,844 shares)
- Adjusted Ebitda Q2 2026
- 33856000
- Revenue Six Months 2026
- 342143000
- Noncontrolling Interests
- 636138000
- Shareholder Loan Repayment
- 137099000
- Senior Secured Bonds Due2028
- $200.0 million at 7.875%, maturing December 17, 2028
- Free Cash Flow Six Months 2026
- 26715000
- Adjusted Ebitda Margin Q2 2026
- 19.8% (vs 16.1% Q2 2025)
- Restructuring Expense Q2 2026
- 5004000
- Adjusted Ebitda Six Months 2026
- 63937000
- Share Based Compensation Q2 2026
- 22775000
- Operating Cash Flow Six Months 2026
- 25156000
- Principal Stockholder Voting Power
- approximately 73% combined (Baker Hughes and Akastor)
- Remaining Performance Obligations
- 414400000
- Net Income Attributable To HMH Q2 2026
- 4976000
Price after filing
Close on the filing date to close N calendar days later (from $20.21). Historical, not a forecast.
AI analysis
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