Heritage Global Inc. (HGBL) Financial Statements
Industry: Business Services (Other) (Services)
In fiscal 2025, Heritage Global reported revenue of $51.0M, up 12.4% from $45.4M the year before. Net income was $3.6M (a 7.0% net margin), or $0.10 per diluted share. Gross margin was 27.4% and operating margin was 11.2%. Operating activities generated $6.1M of cash, leaving -$2.3M of free cash flow. At fiscal year end, Heritage Global held $88.4M in total assets against $21.5M in total liabilities, including $20.5M of cash and equivalents.
Open the full interactive Heritage Global financials → Quarterly statements, key ratios, valuation history and price charts.
Heritage Global Key Stats
| Share Price | $1.26 |
|---|---|
| Market Cap | $43.6M |
| P/E Ratio | 12.6 |
| Revenue YoY Growth | +12.4% |
| 52-Week Range | $1.02 – $1.58 |
| Shares Outstanding | 34.6 million (basic, 2026 Q2) |
Heritage Global Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $26.2M | $25.8M | $46.9M | $60.5M | $45.4M | $51.0M |
| Cost of Goods Sold | $23.9M | $22.7M | $42.8M | $47.3M | $39.0M | $45.4M |
| Gross Profit | $2.3M | $3.1M | $4.1M | $13.3M | $6.4M | $14.0M |
| Operating Income | $6.1M | $3.0M | $11.1M | $14.3M | $9.1M | $5.7M |
| Pre-Tax Income | $6.0M | $3.0M | $11.0M | $14.0M | $9.0M | $5.8M |
| Income Tax | -$3.6M | -$61,000 | -$4.5M | $1.5M | $3.8M | $2.3M |
| Net Income | $9.7M | $3.1M | $15.5M | $12.5M | $5.2M | $3.6M |
| Diluted EPS | $0.30 | $0.08 | $0.42 | $0.33 | $0.14 | $0.10 |
Heritage Global Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $11.4M | $11.9M | $12.7M | $12.3M |
| Net Income | $585,000 | $301,000 | $717,000 | -$15.9M |
| Diluted EPS | $0.02 | $0.01 | $0.02 | -$0.46 |
Heritage Global Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $23.4M | $13.6M | $12.7M | $12.3M | $21.7M | $20.5M |
| Current Assets | $27.0M | $23.3M | $23.9M | $26.3M | $33.1M | $33.6M |
| Total Assets | $44.6M | $50.5M | $67.6M | $83.2M | $81.3M | $88.4M |
| Current Liabilities | $14.0M | $14.2M | $16.2M | $14.7M | $14.6M | $15.5M |
| Total Long-Term Debt | — | $7.7M | $8.6M | $7.2M | $395,000 | $4.1M |
| Total Liabilities | $14.6M | $17.8M | $19.3M | $22.1M | $16.1M | $21.5M |
| Shareholders' Equity | $29.9M | $32.6M | $48.3M | $61.1M | $65.2M | $67.0M |
Heritage Global Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | $9.1M | -$2.6M | $6.5M | $13.0M | $7.7M | $6.1M |
| Cash From Investing | $4.5M | -$10.2M | -$7.5M | -$15.9M | $10.9M | -$9.4M |
| Cash From Financing | $7.0M | $3.1M | $78,000 | $2.5M | -$9.1M | $2.0M |
| Free Cash Flow | $9.1M | -$4.1M | $6.3M | $12.8M | $7.6M | -$2.3M |
Figures from Heritage Global's 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full Heritage Global financials page for every line item.
Heritage Global Company Profile
| Ticker | HGBL |
|---|---|
| Exchange | Nasdaq |
| Industry | Business Services (Other) (Services) |
| Headquarters | San Diego, California |
| Incorporated in | Florida |
| Fiscal Year End | December 31 |
| SEC Filer Category | Non-accelerated filer, smaller reporting company |
| SEC CIK | 0000849145 |
Frequently Asked Questions
What was Heritage Global's revenue in fiscal 2025?
Heritage Global (HGBL) reported revenue of $51.0M for fiscal 2025.
What is Heritage Global's annual revenue history?
Heritage Global's annual revenue by fiscal year: 2020: $26.2M; 2021: $25.8M; 2022: $46.9M; 2023: $60.5M; 2024: $45.4M; 2025: $51.0M.
What was Heritage Global's net income in fiscal 2025?
Heritage Global reported net income of $3.6M for fiscal 2025.
What was Heritage Global's earnings per share (EPS) in fiscal 2025?
Heritage Global's diluted EPS was $0.10 for fiscal 2025 (adjusted for any later stock splits).
How much free cash flow did Heritage Global generate in fiscal 2025?
Heritage Global generated -$2.3M of free cash flow in fiscal 2025.
What was Heritage Global's revenue last quarter?
In its most recent reported quarter (2026 Q2), Heritage Global reported revenue of $12.3M.
How much debt does Heritage Global have?
Heritage Global reported $4.1M of long-term debt, including the current portion, at the end of fiscal 2025.
How many shares of Heritage Global are outstanding?
Heritage Global reported a weighted average of 34.6 million basic shares outstanding in 2026 Q2.
What is Heritage Global's market cap?
Based on its latest closing price, Heritage Global (HGBL) has a market capitalization of about $43.6M.
When does Heritage Global's fiscal year end?
Heritage Global's fiscal year end, as registered with the SEC, is December 31.
Where is Heritage Global headquartered?
Heritage Global lists its business address in San Diego, California in its SEC filings.