Filing Flows › Hennessy Advisors (HNNA) › Q2 FY26 › vs Q1 FY26
Hennessy Advisors (HNNA) Q2 FY26 vs Q1 FY26 (quarter over quarter)
Hennessy Advisors's revenue fell $187K (-2%) from $8.3M in Q1 FY26 to $8.1M in Q2 FY26. The biggest changes: Investment Advice −$180K (-2%); Shareholder Service −$7K (-1%). Operating margin 32.1% against 31.3% (+0.8 pts).
Hennessy Advisors, Q2 FY26: revenue $8.1M (-12% year over year), operating margin 32.1%, net earnings $1.9M, operating cash flow $2.3M. The chart draws each line against Q1 FY26, the increases inside each band.
Margins
| Q2 FY26 | Q1 FY26 | Change | |
|---|---|---|---|
| Operating margin | 32.1% | 31.3% | +0.8 pts |
| Net margin | 23.5% | 23.2% | +0.3 pts |
| Free cash flow margin | 27.6% | 7.2% | +20.4 pts |
Every line
| Line | Q2 FY26 | Q1 FY26 | Change | % |
|---|---|---|---|---|
| Investment Advice | $7.6M | $7.8M | −$180K | -2% |
| Shareholder Service | $552K | $559K | −$7K | -1% |
| Revenue | $8.1M | $8.3M | −$187K | -2% |
| Other income, net | $36K | $75K | −$39K | -52% |
| Operating profit | $2.6M | $2.6M | $6K | +0.2% |
| Costs & expenses | $5.5M | $5.7M | −$193K | -3% |
| Pre-tax earnings | $2.6M | $2.7M | −$33K | -1% |
| General & admin | $1.6M | $1.9M | −$277K | -14% |
| Other operating costs | $3.9M | $3.8M | $84K | +2% |
| Net earnings | $1.9M | $1.9M | −$20K | -1% |
| Income tax | $736K | $749K | −$13K | -2% |
| Depreciation | $86K | $66K | $20K | +30% |
| Share-based compensation | $351K | $309K | $42K | +14% |
| Working capital & other | $38K | $1.6M | −$1.6M | -98% |
| Operating cash flow | $2.3M | $661K | $1.6M | +249% |
| Free cash flow (OCF − capex) | $2.2M | $601K | $1.6M | +273% |
| Capital expenditures | $66K | $60K | $6K | +10% |
Questions
How much did Hennessy Advisors's revenue grow quarter over quarter in Q2 FY26?
Hennessy Advisors's revenue fell $187K (-2%) from $8.3M in Q1 FY26 to $8.1M in Q2 FY26.
What drove Hennessy Advisors's revenue change in Q2 FY26?
Investment Advice −$180K (-2%); Shareholder Service −$7K (-1%).