Heritage Global Inc.
Business
Heritage Global Inc. is an asset services company specializing in financial and industrial asset transactions, providing market making, acquisitions, refurbishment, dispositions, valuations and secured lending across more than 25 global sectors. The company operates two divisions: Industrial Assets (auction, liquidation, and refurbishment of machinery and equipment) and Financial Assets (brokerage of charged-off receivables and specialty lending to portfolio investors). Services are delivered through four operating segments: Auction and Liquidation, Refurbishment & Resale, Brokerage, and Specialty Lending, serving customers in the United States and Canada.
Summary from 10-K filed 2026-03-12
Financials
Consolidated Statement of Income
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Total revenues | 51 | 45 | 61 | 47 | 26 | |
| Selling, general and administrative | 25 | 24 | 26 | 21 | 15 | |
| Depreciation and amortization | 472,000 | 591,000 | 514,000 | 536,000 | 460,000 | |
| Total operating costs and expenses | 45 | 39 | 47 | 43 | 23 | |
| Earnings of equity method investments | 123,000 | 3 | 1 | 7 | −79,000 | |
| Operating income | 6 | 9 | 14 | 11 | 3 | |
| Interest income (expense), net | 134,000 | −93,000 | −324,000 | −113,000 | −22,000 | |
| Income before income tax expense | 6 | 9 | 14 | 11 | 3 | |
| Income tax expense | 2 | 4 | 2 | −4 | −61,000 | |
| Net income | 4 | 5 | 12 | 15 | 3 | |
| Weighted average common shares outstanding basic | 35 | 36 | 37 | 36 | 35 | |
| Weighted average common shares outstanding diluted | 35 | 37 | 38 | 37 | 37 | |
| Net income per share basic | 0.1 | 0.14 | 0.34 | 0.43 | 0.09 | |
| Net income per share diluted | 0.1 | 0.14 | 0.33 | 0.42 | 0.08 |
Consolidated Balance Sheet
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 21 | 22 | 12 | 13 | 14 | |
| Accounts receivable, net | 2 | 2 | 2 | 988,000 | 3 | |
| Current portion of notes receivable, net | 5 | 3 | 7 | 5 | 2 | |
| Inventory equipment | 6 | 5 | 5 | 5 | 3 | |
| Other current assets | 756,000 | 1 | 448,000 | 1 | 1 | |
| Total current assets | 34 | 33 | 26 | 24 | 23 | |
| Non-current portion of notes receivable, net | 5 | 7 | 11 | 4 | 2 | |
| Equity method investments, net | 21 | 21 | 21 | 14 | 5 | |
| Right-of-use assets | 2 | 2 | 3 | 3 | 3 | |
| Property and equipment, net | 11 | 2 | 2 | 2 | 1 | |
| Intangible assets, net | 3 | 3 | 4 | 4 | 5 | |
| Goodwill | 7 | 7 | 7 | 7 | 7 | |
| Deferred tax assets | 4 | 6 | 9 | 9 | 4 | |
| Other assets | 2 | 64,000 | 67,000 | 64,000 | 49,000 | |
| Total assets | 88 | 81 | 83 | 68 | 50 | |
| Accounts payable and accrued liabilities | 6 | 5 | 7 | 9 | 5 | |
| Payables to sellers | 7 | 7 | 5 | 3 | 6 | |
| Current portion of third party debt | 0 | 395,000 | 2 | 3 | 2 | |
| Current portion of lease liabilities | 829,000 | 807,000 | 789,000 | 703,000 | 501,000 | |
| Other current liabilities | 948,000 | 550,000 | — | — | — | |
| Total current liabilities | 16 | 15 | 15 | 16 | 14 | |
| Non-current portion of third party debt | 4 | 0 | 5 | 871,000 | 1 | |
| Non-current portion of lease liabilities | 790,000 | 2 | 2 | 2 | 2 | |
| Other non-current liabilities | 1 | 0 | — | — | — | |
| Total liabilities | 21 | 16 | 22 | 19 | 18 | |
| Commitments and contingencies (Note 12 and Note 15) | — | — | — | — | — | |
| Preferred stock, $10.00 par value, authorized 10,000,000 shares; issued and outstanding 563 shares of Series N as of both December 31, 2025 and December 31, 2024, with liquidation preference over common stockholders equivalent to $1,000 per share | 6,000 | 6,000 | 6,000 | 6,000 | 6,000 | |
| Common stock, $0.01 par value, authorized 300,000,000 shares; issued 37,639,211 and 37,380,944 shares as of December 31, 2025 and December 31, 2024, respectively; and outstanding 34,741,553 and 35,718,361 shares as of December 31, 2025 and December 31, 2024, respectively | 376,000 | 374,000 | 372,000 | 369,000 | 366,000 | |
| Additional paid-in capital | 296 | 296 | 295 | 294 | 293 | |
| Accumulated deficit | −224 | −228 | −233 | −245 | −261 | |
| Treasury stock at cost, 2,897,658 shares as of December 31, 2025 and 1,662,583 shares as of December 31, 2024 | −6 | −3 | −794,000 | −395,000 | 0 | |
| Total stockholders equity | 67 | 65 | 61 | 48 | 33 | |
| Total liabilities and stockholders equity | 88 | 81 | 83 | 68 | 50 |
Consolidated Statement of Cash Flows
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Net income | 4 | 5 | 12 | 15 | 3 | |
| Amortization of deferred issuance costs and fees, net | −9,000 | −90,000 | −273,000 | 279,000 | — | |
| Noncash credit loss (recovery) expense | −20,000 | −267,000 | 530,000 | — | — | |
| Amortization of right-of-use assets | 691,000 | 657,000 | 642,000 | — | — | |
| Deferred taxes | 2 | 3 | 418,000 | −5 | −86,000 | |
| Stock-based compensation expense | 900,000 | 1 | 776,000 | 540,000 | 408,000 | |
| Accounts receivable | −322,000 | 351,000 | −931,000 | 2 | −826,000 | |
| Inventory equipment | −583,000 | −274,000 | −455,000 | −1 | −2 | |
| Other assets | 303,000 | −605,000 | 662,000 | 328,000 | −749,000 | |
| Accounts payable and accrued liabilities | 476,000 | −1 | −1 | 4 | −557,000 | |
| Payables to sellers | −144,000 | 2 | 2 | −3 | −3 | |
| Lease liabilities | −697,000 | −657,000 | −625,000 | −513,000 | −61,000 | |
| Net cash provided by operating activities | 6 | 8 | 13 | 6 | −3 | |
| Investment in notes receivable | −6 | −6 | −30 | −8 | −8 | |
| Payments received on notes receivable | 7 | 11 | 12 | 3 | 4 | |
| Investment in participating interest | −2 | — | — | — | — | |
| Return on investment in participating interest | 94,000 | — | — | — | — | |
| Investment in equity method investments | −2 | −343,000 | −17 | −15 | −3 | |
| Return of investment in equity method investments | 1 | 3 | 10 | 5 | 0 | |
| Cash distributions from equity method investments | 123,000 | 3 | 1 | 7 | 243,000 | |
| Purchase of property, plant and equipment | −8 | −137,000 | −257,000 | −215,000 | −1 | |
| Net cash (used in) provided by investing activities | −9 | 11 | −16 | −8 | −10 | |
| Proceeds from debt payable to third parties | 4 | 0 | 13 | 3 | 5 | |
| Repayment of debt payable to third parties | −395,000 | −7 | −10 | −2 | −1 | |
| Proceeds from secured borrowing | 1 | — | — | — | — | |
| Repayments of secured borrowing | −21,000 | — | — | — | — | |
| Payments of tax withholdings related to issuance of restricted stock and cashless exercises of stock option awards | −80,000 | −117,000 | −122,000 | −44,000 | −987,000 | |
| Repurchase of common stock | −3 | −2 | −400,000 | −395,000 | 0 | |
| Net cash provided by (used in) financing activities | 2 | −9 | 2 | 78,000 | 3 | |
| Net Change in cash and cash equivalents | −1 | 9 | −388,000 | −955,000 | −10 | |
| Cash paid for taxes | 700,000 | 640,000 | 848,000 | 297,000 | 116,000 | |
| Cash paid for interest | 43,000 | 91,000 | 411,000 | 103,000 | 22,000 | |
| Noncash capital expenditures | 979,000 | 0 | — | — | — | |
| Noncash transfer of notes receivable to equity method investments | 0 | 2 | — | — | — | |
| Noncash change in lease liabilities and right-of-use assets | 0 | 327,000 | — | — | — |
Filings
Material Events
Insiders
Institutional Holders
Frequently asked questions
What is Heritage Global Inc.'s CIK number?
Heritage Global Inc.'s SEC CIK number is 0000849145 (849145). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find Heritage Global Inc.'s SEC filings?
All of Heritage Global Inc.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.
When did Heritage Global Inc. last report earnings?
Heritage Global Inc. (HGBL) most recently filed an earnings 8-K with the SEC on Mar 9, 2023, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0000950170-23-007025). This is Heritage Global Inc.'s most recent earnings filing of record — not a forecast of its next earnings date.
What is Heritage Global Inc.'s most recent earnings 8-K?
Heritage Global Inc.'s latest earnings 8-K (Item 2.02) was filed Mar 9, 2023 under accession 0000950170-23-007025. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.
View Heritage Global Inc.'s latest earnings 8-K →
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