Filing Flows › NI Holdings (NODK) › Q3 2026 › vs Q2 2026
NI Holdings (NODK) Q3 2026 vs Q2 2026 (quarter over quarter)
NI Holdings's revenue fell $1.7M (-2%) from $70.2M in Q2 2026 to $68.6M in Q3 2026. Gross margin 34.4% against 23.6% (+10.8 pts).
NI Holdings, Q3 2026: revenue $68.6M (-10% year over year), operating margin 10.2%, net earnings $5.5M, operating cash flow −$15.1M. The chart draws each line against Q2 2026, the increases inside each band.
Margins
| Q3 2026 | Q2 2026 | Change | |
|---|---|---|---|
| Gross margin | 34.4% | 23.6% | +10.8 pts |
| Operating margin | 10.2% | 0.3% | +9.9 pts |
| Net margin | 8.1% | 0.2% | +7.9 pts |
Every line
| Line | Q3 2026 | Q2 2026 | Change | % |
|---|---|---|---|---|
| Revenue | $68.6M | $70.2M | −$1.7M | -2% |
| Gross profit | $23.6M | $16.6M | $7.0M | +42% |
| Cost of revenue | $45.0M | $53.6M | −$8.7M | -16% |
| Operating profit | $7.0M | $230K | $6.8M | 30× |
| Operating expenses | $16.6M | $16.4M | $236K | +1% |
| Pre-tax earnings | $7.0M | $230K | $6.8M | 30× |
| Net earnings | $5.5M | $146K | $5.4M | 38× |
| Income tax | $1.5M | $84K | $1.4M | 18× |
| Operating cash sources | $21.1M | −$272K | $21.3M | — |
| Depreciation | $114K | $122K | −$8K | -7% |
| Share-based compensation | $365K | $372K | −$7K | -2% |
| Cash used in operations | $15.1M | −$912K | $16.0M | — |
| Working capital & other | $21.1M | −$272K | $21.3M | — |
Questions
How much did NI Holdings's revenue grow quarter over quarter in Q3 2026?
NI Holdings's revenue fell $1.7M (-2%) from $70.2M in Q2 2026 to $68.6M in Q3 2026. Gross margin 34.4% against 23.6% (+10.8 pts).