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Hennessy Advisors (HNNA) Q2 FY26 earnings results (second quarter fiscal 2026)
10-Q filed May 6, 2026
Hennessy Advisors (HNNA) reported revenue of $8.1M for the second quarter fiscal 2026 (Q2 FY26), -12% from a year earlier and -2% from the quarter before. Operating margin was 32.1%, net earnings $1.9M (23.5% of revenue).
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 follows the revenue to costs, profit and cash.
| Q2 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $8.1M | -2% | -12% |
| Operating profit | $2.6M | +0.2% | -24% |
| Net earnings | $1.9M | -1% | -26% |
| Operating cash flow | $2.3M | +249% | -38% |
| Free cash flow | $2.2M | +273% | -39% |
What changed
Revenue was $8.1M in Q2 FY26, down 12% year over year and down 2% from the previous quarter. Investment Advice was the largest line at 93% of revenue. Investment Advice lost $1.1M year over year (down 13%), 96% of the total change.
Operating profit was $2.6M, a 32.1% margin (down 5.1 points year over year). Total costs fell 5% while revenue fell 12%. Net earnings were $1.9M, down 26% year over year. The effective tax rate was 27.8%.
Operating cash flow was $2.3M (down 38% year over year), 121% of net earnings. Non-cash charges added back $86K of depreciation and $351K of share-based compensation. Capital expenditures of $66K left free cash flow of $2.2M.
Questions
What was Hennessy Advisors' revenue in the second quarter fiscal 2026?
Hennessy Advisors (HNNA) reported revenue of $8.1M for the second quarter fiscal 2026 (Q2 FY26), -12% from a year earlier and -2% from the quarter before.
Was Hennessy Advisors profitable in the second quarter fiscal 2026?
Operating profit was $2.6M (32.1% of revenue) and net earnings $1.9M.
Source: Hennessy Advisors 10-Q on SEC EDGAR.