Filing Flows › NI Holdings (NODK) › Q2 2026 › vs Q1 2026
NI Holdings (NODK) Q2 2026 vs Q1 2026 (quarter over quarter)
NI Holdings's revenue rose $10.6M (+18%) from $59.6M in Q1 2026 to $70.2M in Q2 2026. Gross margin 23.6% against 53.3% (-29.6 pts).
NI Holdings, Q2 2026: revenue $70.2M (-8% year over year), operating margin 0.3%, net earnings $146K, operating cash flow $912K. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Gross margin | 23.6% | 53.3% | -29.6 pts |
| Operating margin | 0.3% | 26.4% | -26.0 pts |
| Net margin | 0.2% | 21.0% | -20.8 pts |
| Free cash flow margin | 1.3% | -3.2% | +4.5 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Revenue | $70.2M | $59.6M | $10.6M | +18% |
| Gross profit | $16.6M | $31.8M | −$15.2M | -48% |
| Cost of revenue | $53.6M | $27.8M | $25.8M | +93% |
| Operating profit | $230K | $15.7M | −$15.5M | -99% |
| Operating expenses | $16.4M | $16.0M | $323K | +2% |
| Pre-tax earnings | $230K | $15.7M | −$15.5M | -99% |
| Net earnings | $146K | $12.5M | −$12.4M | -99% |
| Income tax | $84K | $3.2M | −$3.1M | -97% |
| Depreciation | $122K | $168K | −$46K | -27% |
| Share-based compensation | $372K | $293K | $79K | +27% |
| Working capital & other | $272K | −$14.8M | $15.1M | — |
| Operating cash flow | $912K | −$1.9M | $2.8M | — |
| Free cash flow (OCF − capex) | $893K | −$1.9M | $2.8M | — |
| Capital expenditures | $19K | $42K | −$23K | -55% |
Questions
How much did NI Holdings's revenue grow quarter over quarter in Q2 2026?
NI Holdings's revenue rose $10.6M (+18%) from $59.6M in Q1 2026 to $70.2M in Q2 2026. Gross margin 23.6% against 53.3% (-29.6 pts).