Filing Flows › Heritage Global (HGBL) › Q3 2026 › vs Q2 2026
Heritage Global (HGBL) Q3 2026 vs Q2 2026 (quarter over quarter)
Heritage Global's revenue rose $2.3M (+19%) from $12.3M in Q2 2026 to $14.6M in Q3 2026. The biggest changes: Service +$1.9M (+24%); Product +$415K (+10%). Operating margin 7.2% against -170.5% (+177.6 pts).
Heritage Global, Q3 2026: revenue $14.6M (+28% year over year), operating margin 7.2%, net earnings $1.0M, operating cash flow $3.4M. The chart draws each line against Q2 2026, the increases inside each band.
Margins
| Q3 2026 | Q2 2026 | Change | |
|---|---|---|---|
| Operating margin | 7.2% | -170.5% | +177.6 pts |
| Net margin | 7.1% | -129.5% | +136.6 pts |
| Free cash flow margin | 17.9% | 11.5% | +6.4 pts |
Every line
| Line | Q3 2026 | Q2 2026 | Change | % |
|---|---|---|---|---|
| Service | $9.8M | $7.9M | $1.9M | +24% |
| Product | $4.8M | $4.4M | $415K | +10% |
| Revenue | $14.6M | $12.3M | $2.3M | +19% |
| Operating profit | $1.0M | −$20.9M | $22.0M | — |
| Costs & expenses | $13.5M | $33.2M | −$19.6M | -59% |
| Pre-tax earnings | $961K | −$21.0M | $21.9M | — |
| Other expense, net | $83K | $65K | $18K | +28% |
| Income tax benefit | $76K | $5.1M | −$5.0M | -99% |
| Net earnings | $1.0M | −$15.9M | $16.9M | — |
| Depreciation & amortization | $206K | $240K | −$34K | -14% |
| Share-based compensation | $174K | $171K | $3K | +2% |
| Working capital & other | $2.0M | $17.1M | −$15.1M | -89% |
| Operating cash flow | $3.4M | $1.6M | $1.8M | +109% |
| Free cash flow (OCF − capex) | $2.6M | $1.4M | $1.2M | +85% |
| Capital expenditures | $772K | $209K | $563K | +269% |
Questions
How much did Heritage Global's revenue grow quarter over quarter in Q3 2026?
Heritage Global's revenue rose $2.3M (+19%) from $12.3M in Q2 2026 to $14.6M in Q3 2026.
What drove Heritage Global's revenue change in Q3 2026?
Service +$1.9M (+24%); Product +$415K (+10%).