Filing Flows › Heritage Global (HGBL) › Q2 2026 › vs Q1 2026
Heritage Global (HGBL) Q2 2026 vs Q1 2026 (quarter over quarter)
Heritage Global's revenue fell $460K (-4%) from $12.7M in Q1 2026 to $12.3M in Q2 2026. The biggest changes: Product −$1.5M (-25%); Service +$999K (+14%).
Heritage Global, Q2 2026: revenue $12.3M (-14% year over year), operating margin -170.5%, net loss $15.9M, operating cash flow $1.6M. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Free cash flow margin | 11.5% | -25.5% | +36.9 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Service | $7.9M | $6.9M | $999K | +14% |
| Product | $4.4M | $5.8M | −$1.5M | -25% |
| Revenue | $12.3M | $12.7M | −$460K | -4% |
| Income tax benefit | $5.1M | −$271K | $5.4M | — |
| Net loss | $15.9M | −$717K | $16.6M | — |
| Costs & expenses | $33.2M | $12.7M | $20.5M | +161% |
| Operating costs | $33.2M | $11.7M | $21.5M | +183% |
| Interest & other, net | $65K | $20K | $45K | +225% |
| SG&A | $10.8M | $7.6M | $3.2M | +42% |
| Other operating costs | $16.3M | $4.1M | $12.2M | +299% |
| Operating cash sources | $17.5M | −$3.4M | $20.9M | — |
| Depreciation & amortization | $240K | $174K | $66K | +38% |
| Share-based compensation | $171K | $211K | −$40K | -19% |
| Working capital & other | $17.1M | −$3.8M | $20.9M | — |
| Net loss absorbed | $15.9M | −$717K | $16.6M | — |
| Operating cash flow | $1.6M | −$2.7M | $4.3M | — |
| Free cash flow (OCF − capex) | $1.4M | −$3.2M | $4.6M | — |
| Capital expenditures | $209K | $562K | −$353K | -63% |
Questions
How much did Heritage Global's revenue grow quarter over quarter in Q2 2026?
Heritage Global's revenue fell $460K (-4%) from $12.7M in Q1 2026 to $12.3M in Q2 2026.
What drove Heritage Global's revenue change in Q2 2026?
Product −$1.5M (-25%); Service +$999K (+14%).