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HGBL News
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Heritage Global Q2 Revenue $12.27M, Below Estimates
Reports Q2 revenue $12.27M, two estimates $13.3M. Ross Dove, Chief Executive Officer of Heritage Global commented, "Our second quarter was shaped by our decision to substantially exit HGC - a deliberate strategic move to focus our efforts on growing our core, capital-light businesses. While this decision comes with a significant one-time non-cash impact, we believe that it is the right path forward, creating a stronger platform to grow long term shareholder value. Just after the close of the quarter we closed our acquisition of Boston Note, which will roll into DebtX, and is in keeping with our strategy to expand our capabilities across key asset classes. Our balance sheet remains healthy, providing us with the financial flexibility to drive growth and enhanced profitability in our business."
Heritage Global Acquires Boston Note Company
Heritage Global announced that its Financial Assets division has acquired Boston Note Company. "For 35 years Boston Note has helped the owners of seller and carry-back notes generate immediate liquidity by quickly and efficiently selling their notes at the best possible prices," said Ross Dove, chief executive officer of Heritage Global. "Starting earlier this year, Heritage and Boston Note closely partnered to test our combined capabilities. The results from that partnership were so promising that it made a full merger logically compelling for both parties."
Heritage Global Announces Substantial Wind Down of Capital Business
Heritage Global announced that it has made the strategic decision to substantially wind down Heritage Global Capital, the company's specialty lending business. In connection with this wind down, Heritage Global expects to recognize a material non-cash charge in the second quarter of 2026 related to the write-down of non-performing loans within HGC. To provide additional time to determine the amount of the non-cash charge, the company's second quarter 2026 financial results conference call has been rescheduled from Thursday, August 6, to Thursday, August 13, at 5:00 p.m. ET.
Heritage Global Q1 Revenue at $12.73M, Below Consensus
Reports Q1 revenue $12.73M, consensus $13.49M. Ross Dove, Chief Executive Officer of Heritage Global commented, "We delivered continued profitability to start 2026, with our Industrial Assets and legacy Financial Assets divisions generating positive sequential performance and improvement year-over-year. Early in the first quarter we acquired DebtX, a significant addition to our Financial Assets division that fits our strategic plans, expanding our presence in the growing secondary loan market. DebtX's first quarter is seasonally its slowest, and together with the transition to a new parent company, the business underperformed and was the primary driver of our year-over-year decline in consolidated first quarter operating income. DebtX is expected to stabilize in the second quarter, and we remain confident in its prospects for the remainder of 2026. Finally, our balance sheet is healthy, which will allow us to invest further in driving organic growth while also evaluating additional value-enhancing acquisition opportunities."
Heritage Global Q4 Revenue at $11.86M, Below Estimates
Reports Q4 revenue $11.86M, two estimates $12.89M. Ross Dove, Chief Executive Officer of Heritage Global commented, "We reported continued solid profitability in 2025, as we capitalized on key opportunities throughout the year with strong execution across our business units. While many companies held off on larger non-essential asset sales during the year given the uncertain economy, we managed to conduct a high volume of transactions throughout the year in both our industrial and financial assets segments and continue to be well positioned to service the needs of our expanding customer base."
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