Earnings summaries and quarterly performance for Heritage Global.
Executive leadership at Heritage Global.
Board of directors at Heritage Global.
Research analysts who have asked questions during Heritage Global earnings calls.
MA
Mark Argento
Lake Street Capital Markets
4 questions for HGBL
Also covers: GAIA, JRSH, OMEX +2 more
DM
David Marsh
Singular Research
2 questions for HGBL
Also covers: ARC, ARLP, CURI +7 more
Logan W Lillehaug
Craig-Hallum Capital Group LLC
2 questions for HGBL
Also covers: AGYS, APLD, GDOT +4 more
RM
Robert Maltbie
Singular Research
2 questions for HGBL
Also covers: ARC, CURI
CS
Chad Stauffer
private investor
1 question for HGBL
George Sutton
Craig-Hallum
1 question for HGBL
Also covers: ACIW, AEYE, AGYS +26 more
GF
Gregory Fortenot
60 Squared LLC
1 question for HGBL
Recent press releases and 8-K filings for HGBL.
Heritage Global Inc. Acquires The Debt Exchange, Inc.
HGBL
M&A
New Projects/Investments
Executive Compensation
- Heritage Global Inc. (HGBL), through its wholly owned subsidiary Heritage DebtX LLC, acquired substantially all of the assets of The Debt Exchange, Inc. (DebtX) in an all-cash transaction valued at approximately $8.5 million.
- The acquisition was contractually effective on January 1, 2026, and closed on January 9, 2026.
- DebtX is a leading full-service loan sale advisor, and this acquisition is expected to strengthen Heritage Global’s Financial Assets division and expand its presence in the secondary loan market.
- The acquisition is anticipated to be accretive in calendar year 2026, with potential quarter-to-quarter variability.
- Bruce Hounsell, DebtX co-founder, will join Heritage DebtX later this month with an annual base salary of $400,000 and a one-time grant of 500,000 non-qualified stock options.
Jan 12, 2026, 9:00 PM
Heritage Global Inc. Acquires The Debt Exchange, Inc.
HGBL
M&A
New Projects/Investments
- Heritage Global Inc. (NASDAQ: HGBL) acquired substantially all of the assets of The Debt Exchange, Inc. (DebtX) in an all-cash transaction valued at approximately $8.5 million.
- The acquisition was contractually effective on January 1, 2026, and is expected to be accretive in calendar year 2026.
- DebtX is a leading full-service loan sale advisor with over 20 years of history, and this acquisition expands Heritage Global's Financial Assets division, strengthening its presence in the secondary loan market.
Jan 12, 2026, 9:00 PM
Heritage Global Reports Q3 2025 Financial Results
HGBL
Earnings
M&A
Share Buyback
- Heritage Global reported Q3 2025 consolidated operating income of $1.3 million, a decrease from $1.5 million in Q3 2024, with net income of $600,000 or $0.02 per diluted share compared to $1.1 million or $0.03 per diluted share in the prior year.
- The company's Industrial Assets division operating income increased to $900,000 in Q3 2025 from $700,000 in Q3 2024, while the Financial Assets division operating income decreased to $1.6 million from $1.8 million over the same period.
- As of September 30, 2025, Heritage Global maintained a strong balance sheet with stockholders' equity of $66.5 million and a net available cash balance of $12.6 million, having paid off the ALT note and holding only a $4.1 million mortgage as debt.
- M&A remains a critical component of the company's long-term strategy, with advanced negotiations underway, and a $7.5 million share repurchase program authorized but not yet utilized due to prioritizing cash for M&A.
- Management anticipates an increase in distressed asset flow from regional banks and increased asset flow from the industrial sector due to lean manufacturing and consolidation, despite a current "wait-and-see" economy for large transactions.
Nov 6, 2025, 10:00 PM
Heritage Global Inc. Reports Third Quarter 2025 Results
HGBL
Earnings
Demand Weakening
M&A
- Heritage Global Inc. reported a net income of $0.6 million, or $0.02 per diluted share, for the third quarter of 2025, compared to $1.1 million, or $0.03 per diluted share, in the third quarter of 2024.
- Operating income for Q3 2025 was $1.3 million, a decrease from $1.5 million in the prior-year quarter, and Adjusted EBITDA was $1.6 million, down from $1.9 million in Q3 2024.
- The company's net working capital stood at $17.9 million as of September 30, 2025.
- CEO Ross Dove noted solid execution and strong profitability, despite smaller auction sizes due to clients adopting a "wait and see approach" in an uncertain economy, and emphasized the company's accelerated progress on M&A for future growth and expansion.
Nov 6, 2025, 9:05 PM
HGBL Discusses Growth Strategy, M&A Plans, and Market Opportunities
HGBL
M&A
New Projects/Investments
Revenue Acceleration/Inflection
- Heritage Global Inc. (HGBL), with an approximate $80 million market cap, consistently generates $1 million to $2 million in quarterly profit from its industrial and financial divisions.
- The company is pursuing M&A to increase quarterly profits to $3 million to $5 million, having $30 million available for acquisitions and planning to spend up to $20 million on deals.
- HGBL maintains a strong financial position with zero debt, a $10 million credit line, and several million dollars allocated for stock repurchases.
- Significant growth is anticipated in the financial division due to a $1 trillion increase in credit card debt and expected non-performing loan liquidations from regional banks and commercial real estate.
- The industrial division foresees a future record year driven by companies selling surplus assets and older equipment, alongside growth from M&A activities.
Oct 21, 2025, 6:00 PM
Heritage Global outlines growth strategy through M&A and market opportunities
HGBL
M&A
New Projects/Investments
Revenue Acceleration/Inflection
- Heritage Global (HGBL) consistently generates $1 million to $2 million in profit per quarter but aims to grow to $3 million to $5 million per quarter or $14 million annually from its current $7 million annually.
- The company plans to achieve this growth primarily through mergers and acquisitions (M&A), having $30 million available for this purpose, with a strategy to spend no more than $20 million to maintain a $10 million cash reserve.
- Significant growth is anticipated in its Industrial division due to a buildup of surplus assets from companies right-sizing and moving to lean manufacturing, and in its Financial division (NLEX) from a trillion dollars in credit card debt, record regional bank charge-offs, and opportunities in Fintech and "buy now pay later" non-performing loans.
- HGBL currently operates with zero debt, has a $10 million credit line, and maintains a stock buyback program with several million dollars set aside.
Oct 21, 2025, 6:00 PM
Quarterly earnings call transcripts for Heritage Global.
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