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Heritage Global (HGBL) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 5, 2026 · Heritage Global (HGBL) Q3 2026 earnings results →
Q3 2026 Revenue up 28% year over year to $14.6M · 7¢ of every $1 of revenue kept as net profit · operating margin 7.2%
Heritage Global made $14.6M in Q3 2026 (+28% Y/Y): Service $9.8M, Product $4.8M. Operating margin 7.2%, net earnings $1.0M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 5, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $14.6M in Q3 2026, up 28% year over year and up 19% from the previous quarter. Service was the largest line at 67% of revenue. Service added $2.3M year over year (up 31%), 73% of the total change.
Operating profit was $1.0M, a 7.2% margin (down 4.3 points year over year). Operating profit fell $257K even though revenue rose $3.2M versus Q3 2025, so costs grew faster than sales. Total costs grew 35% against revenue growth of 28%. Net earnings were $1.0M, up 77% year over year. The effective tax rate was -7.9%.
Operating cash flow was $3.4M (up 5439% year over year), 326% of net earnings. Non-cash charges added back $206K of depreciation and amortization and $174K of share-based compensation. Working capital and other items added $2.0M. Capital expenditures of $772K left free cash flow of $2.6M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 5, 2026 | $14.6M | +28% | 7.2% | $1.0M | $3.4M |
| Q2 2026 | 10-Q | Aug 13, 2026 | $12.3M | -14% | -170.5% | −$15.9M | $1.6M |
| Q1 2026 | 10-Q | May 7, 2026 | $12.7M | -6% | 7.9% | $717K | −$2.7M |
| Q4 2025 | 10-K | Mar 12, 2026 | $11.9M | +10% | 6.5% | $301K | $1.6M |
| Q3 2025 | 10-Q | Nov 6, 2025 | $11.4M | +9% | 11.5% | $585K | $61K |
| Q2 2025 | 10-Q | Aug 7, 2025 | $14.3M | +19% | 15.6% | $1.6M | $1.9M |
| Q1 2025 | 10-Q | May 8, 2025 | $13.5M | +11% | 10.4% | $1.1M | $2.6M |
Charts
Interactive views
The same charts as the app — open one to draw it.
💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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Heritage Global against its Services-Business Services, NEC peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +28% against the peers' median +13%. Operating margin: 7.2% against the peers' median 9.8%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| HGBL Heritage Global | Q3 2026 | $14.6M | +28% | 7.2% |
| ACN Accenture | Q4 FY26 | $18.7B | +6% | 15.3% |
| UBER Uber Technologies | Q3 2026 | $14.8B | +10% | 9.8% |
| V Visa | Q4 FY26 | $12.1B | +13% | 59.8% |
| MELI MercadoLibre | Q3 2026 | $10.8B | +45% | 6.3% |
| MA Mastercard | Q3 2026 | $9.8B | +14% | 59.8% |
| PYPL PayPal Holdings | Q3 2026 | $8.6B | +2% | 16.3% |
| FISV Fiserv | Q3 2026 | $5.2B | -1% | -105.7% |
| DASH DoorDash | Q3 2026 | $4.6B | +34% | 9.6% |
Source: Heritage Global 10-Q on SEC EDGAR · CIK 849145 · Services-Business Services, NEC
Guidance and outlook
13F: who owns HGBL and who is buying
More on HGBL
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results