Filing Flows › Horizon Kinetics Holding (HKHC) › Q4 2024
Horizon Kinetics Holding (HKHC) Q4 2024 earnings results (fourth quarter 2024)
10-K filed Mar 31, 2025
Horizon Kinetics Holding (HKHC) reported revenue of $18.2M for the fourth quarter 2024 (Q4 2024), +73% from a year earlier and +40% from the quarter before. Operating margin was -78.0%.
Horizon Kinetics Holding, Q4 2024: revenue $18.2M (+73% year over year), operating margin -78.0%, net earnings $376M, operating cash flow $23.0M. The chart follows the revenue to costs, profit and cash.
| Q4 2024 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $18.2M | +40% | +73% |
| Operating profit | −$14.2M | — | — |
| Net earnings | $376M | — | — |
| Operating cash flow | $23.0M | — | +63% |
| Free cash flow | $23.0M | — | +63% |
What changed
Revenue was $18.2M in Q4 2024, up 73% year over year and up 40% from the previous quarter.
Operating costs exceeded revenue by $14.2M, an operating margin of -78.0%. The fastest-growing cost line was Other operating costs (+1997%). Net earnings were $75.8M, up 3019% year over year. The effective tax rate was 8.2%. Non-operating items added $424.3M, 103% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $23.0M (up 63% year over year), 6% of net income including minority interests. Non-cash charges added back $545K of depreciation and amortization. Working capital and other items used $353.8M. Capital expenditures of $4K left free cash flow of $23.0M.
Questions
What was Horizon Kinetics Holding's revenue in the fourth quarter 2024?
Horizon Kinetics Holding (HKHC) reported revenue of $18.2M for the fourth quarter 2024 (Q4 2024), +73% from a year earlier and +40% from the quarter before.
Was Horizon Kinetics Holding profitable in the fourth quarter 2024?
Operating loss was $14.2M (-78.0% of revenue) and net earnings $376M.