Filing Flows › NLI Holdings (NL) › Q3 2026 › vs Q2 2026
NLI Holdings (NL) Q3 2026 vs Q2 2026 (quarter over quarter)
NLI Holdings's revenue rose $377K (+0.9%) from $43.6M in Q2 2026 to $44.0M in Q3 2026. The biggest changes: Marine Components +$2.0M (+20%); Security Products −$1.7M (-5%). Gross margin 29.6% against 35.6% (-6.0 pts).
NLI Holdings, Q3 2026: revenue $44.0M (+10% year over year), operating margin 7.1%, net earnings $12.7M, operating cash flow $10.0M. The chart draws each line against Q2 2026, the increases inside each band.
Margins
| Q3 2026 | Q2 2026 | Change | |
|---|---|---|---|
| Gross margin | 29.6% | 35.6% | -6.0 pts |
| Operating margin | 7.1% | 14.1% | -6.9 pts |
| Net margin | 29.0% | 20.5% | +8.4 pts |
| Free cash flow margin | 19.2% | 22.6% | -3.4 pts |
Every line
| Line | Q3 2026 | Q2 2026 | Change | % |
|---|---|---|---|---|
| Security Products | $31.7M | $33.3M | −$1.7M | -5% |
| Marine Components | $12.3M | $10.3M | $2.0M | +20% |
| Revenue | $44.0M | $43.6M | $377K | +0.9% |
| Gross profit | $13.0M | $15.5M | −$2.5M | -16% |
| Cost of revenue | $31.0M | $28.1M | $2.9M | +10% |
| Other income, net | $12.8M | $6.2M | $6.6M | +106% |
| Operating profit | $3.1M | $6.1M | −$3.0M | -49% |
| Operating expenses | $9.9M | $9.4M | $482K | +5% |
| Pre-tax earnings | $15.9M | $12.4M | $3.6M | +29% |
| SG&A | $6.6M | $6.6M | $23K | +0.3% |
| Other operating costs | $3.2M | $2.8M | $459K | +16% |
| Net earnings | $12.7M | $9.0M | $3.8M | +42% |
| Minority interests | $691K | $937K | −$246K | -26% |
| Income tax | $2.5M | $2.5M | $49K | +2% |
| Depreciation & amortization | $869K | $857K | $12K | +1% |
| Working capital & other | $3.6M | −$1.2M | $4.8M | — |
| Operating cash flow | $10.0M | $11.0M | −$968K | -9% |
| Free cash flow (OCF − capex) | $8.4M | $9.8M | −$1.4M | -14% |
| Capital expenditures | $1.6M | $1.1M | $433K | +39% |
Questions
How much did NLI Holdings's revenue grow quarter over quarter in Q3 2026?
NLI Holdings's revenue rose $377K (+0.9%) from $43.6M in Q2 2026 to $44.0M in Q3 2026.
What drove NLI Holdings's revenue change in Q3 2026?
Marine Components +$2.0M (+20%); Security Products −$1.7M (-5%).