Filing Flows › Horizon Kinetics Holding (HKHC) › Q2 2026
Horizon Kinetics Holding (HKHC) Q2 2026 earnings results (second quarter 2026)
10-Q filed Aug 13, 2026
Horizon Kinetics Holding (HKHC) reported revenue of $19.0M for the second quarter 2026 (Q2 2026), +0.7% from a year earlier and +4% from the quarter before. Operating margin was 15.6%, net loss $113M (593.2% of revenue).
Horizon Kinetics Holding, Q2 2026: revenue $19.0M (+0.7% year over year), operating margin 15.6%, net loss $113M, operating cash flow −$2.0M. The chart follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $19.0M | +4% | +0.7% |
| Operating profit | $3.0M | — | +18% |
| Net earnings | −$113M | -154% | — |
| Operating cash flow | −$2.0M | — | — |
What changed
Revenue was $19.0M in Q2 2026, up 1% year over year and up 4% from the previous quarter. Mutual Fund Management Fees was the largest line at 43% of revenue. Etf Management Fees added $815K year over year (up 30%), 591% of the total change. Mutual Fund Management Fees declined 17%.
Operating profit was $3.0M, a 15.6% margin (down 3.8 points year over year). Operating profit fell $693K even though revenue rose $138K versus Q2 2025, so costs grew faster than sales. Total costs grew 5% against revenue growth of 1%. The fastest-growing cost line was SG&A (+219%). The quarter ended with a net loss of $112.9M, after a profit of $208.3M the previous quarter. Minority interests bore $94.5M of it: to shareholders the quarter was a loss of $18.4M. Net interest and other expense of $122.5M was the main reason.
Operating cash flow was −$2.0M. Non-cash charges added back $193K of depreciation and amortization. Working capital and other items added $110.7M. Capital expenditures of $597K exceeded it, leaving free cash flow of −$2.6M.
Questions
What was Horizon Kinetics Holding's revenue in the second quarter 2026?
Horizon Kinetics Holding (HKHC) reported revenue of $19.0M for the second quarter 2026 (Q2 2026), +0.7% from a year earlier and +4% from the quarter before.
Was Horizon Kinetics Holding profitable in the second quarter 2026?
Operating profit was $3.0M (15.6% of revenue) and net loss $113M.