Filing Flows › NI Holdings (NODK) › Q2 2026
NI Holdings (NODK) Q2 2026 earnings results (second quarter 2026)
10-Q filed Aug 7, 2026
NI Holdings (NODK) reported revenue of $70.2M for the second quarter 2026 (Q2 2026), -8% from a year earlier and +18% from the quarter before. Operating margin was 0.3%, net earnings $146K (0.2% of revenue).
NI Holdings, Q2 2026: revenue $70.2M (-8% year over year), operating margin 0.3%, net earnings $146K, operating cash flow $912K. The chart follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $70.2M | +18% | -8% |
| Gross profit | $16.6M | -48% | +159% |
| Operating profit | $230K | -99% | — |
| Net earnings | $146K | -99% | — |
| Operating cash flow | $912K | — | -86% |
| Free cash flow | $893K | — | -86% |
What changed
Revenue was $70.2M in Q2 2026, down 8% year over year and up 18% from the previous quarter.
Gross margin was 23.6%, up 15.2 points from Q2 2025. Operating profit was $230K, a 0.3% margin (up 20.5 points year over year). Operating expenses fell 25% while revenue fell 8%. Net earnings were $146K. The effective tax rate was 36.5%.
Operating cash flow was $912K (down 86% year over year), 625% of net earnings. Non-cash charges added back $122K of depreciation and $372K of share-based compensation. Working capital and other items added $272K. Capital expenditures of $19K left free cash flow of $893K.
Questions
What was NI Holdings' revenue in the second quarter 2026?
NI Holdings (NODK) reported revenue of $70.2M for the second quarter 2026 (Q2 2026), -8% from a year earlier and +18% from the quarter before.
Was NI Holdings profitable in the second quarter 2026?
Operating profit was $230K (0.3% of revenue) and net earnings $146K.
Source: NI Holdings 10-Q on SEC EDGAR.