Filing Flows › NLI Holdings (NL) › Q2 2026 › vs Q1 2026
NLI Holdings (NL) Q2 2026 vs Q1 2026 (quarter over quarter)
NLI Holdings's revenue rose $3.0M (+8%) from $40.6M in Q1 2026 to $43.6M in Q2 2026. The biggest changes: Security Products +$3.5M (+12%); Marine Components −$407K (-4%). Gross margin 35.6% against 32.7% (+3.0 pts).
NLI Holdings, Q2 2026: revenue $43.6M (+8% year over year), operating margin 14.1%, net earnings $9.0M, operating cash flow $11.0M. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Gross margin | 35.6% | 32.7% | +3.0 pts |
| Operating margin | 14.1% | 10.1% | +3.9 pts |
| Net margin | 20.5% | 10.7% | +9.8 pts |
| Free cash flow margin | 22.6% | -9.7% | +32.3 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Security Products | $33.3M | $29.9M | $3.5M | +12% |
| Marine Components | $10.3M | $10.7M | −$407K | -4% |
| Revenue | $43.6M | $40.6M | $3.0M | +8% |
| Gross profit | $15.5M | $13.3M | $2.3M | +17% |
| Cost of revenue | $28.1M | $27.3M | $761K | +3% |
| Other income, net | $6.2M | $2.5M | $3.8M | +153% |
| Operating profit | $6.1M | $4.1M | $2.0M | +49% |
| Operating expenses | $9.4M | $9.1M | $258K | +3% |
| Pre-tax earnings | $12.4M | $6.6M | $5.8M | +88% |
| SG&A | $6.6M | $6.2M | $413K | +7% |
| Other operating costs | $2.8M | $2.9M | −$155K | -5% |
| Net earnings | $9.0M | $4.3M | $4.6M | +106% |
| Minority interests | $937K | $750K | $187K | +25% |
| Income tax | $2.5M | $1.5M | $990K | +67% |
| Depreciation & amortization | $857K | $868K | −$11K | -1% |
| Working capital & other | $1.2M | −$8.8M | $9.9M | — |
| Operating cash flow | $11.0M | −$3.5M | $14.5M | — |
| Free cash flow (OCF − capex) | $9.8M | −$3.9M | $13.8M | — |
| Capital expenditures | $1.1M | $404K | $714K | +177% |
Questions
How much did NLI Holdings's revenue grow quarter over quarter in Q2 2026?
NLI Holdings's revenue rose $3.0M (+8%) from $40.6M in Q1 2026 to $43.6M in Q2 2026.
What drove NLI Holdings's revenue change in Q2 2026?
Security Products +$3.5M (+12%); Marine Components −$407K (-4%).