Filing Flows › Hennessy Advisors (HNNA) › Q2 FY26 › vs Q2 FY25
Hennessy Advisors (HNNA) Q2 FY26 vs Q2 FY25 (year over year)
Hennessy Advisors's revenue fell $1.1M (-12%) from $9.3M in Q2 FY25 to $8.1M in Q2 FY26. The biggest changes: Investment Advice −$1.1M (-13%); Shareholder Service −$51K (-8%). Operating margin 32.1% against 37.2% (-5.1 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 Q2 FY25, the increases inside each band.
Margins
| Q2 FY26 | Q2 FY25 | Change | |
|---|---|---|---|
| Operating margin | 32.1% | 37.2% | -5.1 pts |
| Net margin | 23.5% | 27.8% | -4.4 pts |
| Free cash flow margin | 27.6% | 39.5% | -11.9 pts |
Every line
| Line | Q2 FY26 | Q2 FY25 | Change | % |
|---|---|---|---|---|
| Investment Advice | $7.6M | $8.7M | −$1.1M | -13% |
| Shareholder Service | $552K | $603K | −$51K | -8% |
| Revenue | $8.1M | $9.3M | −$1.1M | -12% |
| Other income, net | $36K | $105K | −$69K | -66% |
| Operating profit | $2.6M | $3.5M | −$841K | -24% |
| Costs & expenses | $5.5M | $5.8M | −$302K | -5% |
| Pre-tax earnings | $2.6M | $3.6M | −$910K | -26% |
| General & admin | $1.6M | $1.8M | −$162K | -9% |
| Other operating costs | $3.9M | $4.0M | −$140K | -3% |
| Net earnings | $1.9M | $2.6M | −$673K | -26% |
| Income tax | $736K | $973K | −$237K | -24% |
| Depreciation | $86K | $69K | $17K | +25% |
| Share-based compensation | $351K | $274K | $77K | +28% |
| Working capital & other | $38K | −$819K | $857K | — |
| Operating cash flow | $2.3M | $3.7M | −$1.4M | -38% |
| Free cash flow (OCF − capex) | $2.2M | $3.7M | −$1.4M | -39% |
| Capital expenditures | $66K | $81K | −$15K | -19% |
Questions
How much did Hennessy Advisors's revenue grow year over year in Q2 FY26?
Hennessy Advisors's revenue fell $1.1M (-12%) from $9.3M in Q2 FY25 to $8.1M in Q2 FY26.
What drove Hennessy Advisors's revenue change in Q2 FY26?
Investment Advice −$1.1M (-13%); Shareholder Service −$51K (-8%).