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HGBL · NASDAQ · Financial - Capital Markets

Heritage Global

Auction, resale, brokerage, and loan-sale advisory services for industrial and financial assets.

$1.27

After-hours close+0.02 (+1.60%)

At close$1.25(−2.34%)

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Profile

Heritage Global Inc.HGBLFinancials

Operates industrial-asset auctions and equipment resale alongside financial-asset brokerage and loan-sale advisory services. Its portfolio is shifting after the announced wind-down of the specialty-lending unit.

Industrial Assets combines HGP's auctions, appraisals, and advisory work with ALT's acquisition, refurbishment, and resale of specialized laboratory equipment. HGP also advises on industrial asset dispositions, while ALT supplies the equipment it refurbishes.

Financial Assets includes NLEX brokerage for charged-off receivables and, after the DebtX acquisition, loan-sale advisory services for commercial and consumer debt.

The business took its Heritage Global name in 2013 to identify with auction, liquidation, and specialty-lending operations. Operations are led from San Diego, and the portfolio is transitional because Heritage Global Capital's specialty-lending business is being wound down.

Company facts

CEORoss Dove

ListedMar 23, 1993

ExchangeNASDAQ

HeadquartersSan Diego, CA

CountryUnited States

Employees84

CIK0000849145

ISINUS42727E1038

Key statistics

Market cap$43.1M

EPS (ttm)−$0.4144

P/E (ttm)−2.99

ROE-22.6%

P/B0.8271

P/S0.8937

Dividend yield—

Beta0.30vs XLF 0.10

Year to date +1.6% · Average volume (30d) 294.9K

Analysts

Price target, next 12 months$3.00+141.9%Median of 3 analysts · vs the Aug 28 close

ConsensusBuy3 of 3 analysts rate it buy or better

Ratings

Strong buyBuyHoldSellStrong sell

Target range

Last close $1.24

High$3.00+141.9%

Median$3.00+141.9%

Low$3.00+141.9%

12 months agoNowIn 12 months

Latest analyst notes

Date	Firm	Action	Rating	Target
Aug 14, 2026	Lake Street	Reiterate	Buy	$3

Earnings

EPS

Estimate$0.03

ReportedDue Nov 5, 2026

Revenue

Estimate$12.9M

ReportedDue Nov 5, 2026

History

Report date	EPS est	EPS	Surprise	Revenue est	Revenue	Surprise	Next session
Aug 13, 2026Q2 FY26	$0.04	−$0.46	−1,326.7%	$13.3M	$12.3M	−7.7%	+0.93%
Aug 6, 2026Q2 FY26	$0.04	$0.04	+6.7%	$13.3M	$13.3M	0.0%	+1.92%
May 7, 2026Q1 FY26	$0.03	$0.02	−27.3%	$13.5M	$12.7M	−5.6%	−3.01%
Mar 12, 2026Q4 FY25	$0.03	$0.01	−69.2%	$12.9M	$11.9M	−8.0%	−4.88%

View details

Financial highlights

	Q1 FY25	Q2 FY25	Q3 FY25	Q4 FY25	Q1 FY26	Q2 FY26
Revenue	$13.5M	$14.3M	$11.4M	$11.9M	$12.7M	$12.3M
Gross profit	$3.4M	$4.1M	$4.4M	−$806.0K	$11.7M	$8.3M
Operating income	$1.4M	$2.2M	$1.3M	$864.0K	$505.0K	−$2.5M
Net income	$1.1M	$1.6M	$585.0K	$301.0K	$717.0K	−$15.9M
Diluted EPS	$0.03	$0.05	$0.02	$0.01	$0.02	−$0.46
Gross margin	25.1%	28.4%	39.0%	-6.8%	91.7%	68.0%
Operating margin	10.4%	15.6%	11.5%	7.3%	4.0%	-20.4%

Fiscal years (4-quarter sums)FY21 $25.8M · FY22 $46.9M · FY23 $60.5M · FY24 $45.4M · FY25 $51.0M

Revenue by product · Q2 FY26

Service$7.9M · 64%

Product$4.4M · 36%

Balance sheet, Jun 30, 2026Cash & short-term investments $13.2M · Total debt $5.3M · Total assets $70.4M · Shareholders' equity $51.9M

Dividends

No dividends on record.

Ownership

Institutions 36.30%12.61M sharesInsiders 14.86%5.16M sharesOther 48.84%16.96M shares

Shares outstanding 34.74M · Float 25.75M · 74.1% free float

Top shareholders13F · 13D/G · Form 4

Holder	Shares	% outstanding	Form	Filed
Ross Dove · director, officer: CEO	2.32M	6.68%	Form 4	Mar 26, 2025
Punch & Associates Investment Management, Inc.	2.24M	6.50%	13G	May 15, 2026
Mink Brook Asset Management LLC	2.24M	6.40%	13G	Apr 6, 2026
Vanguard Capital Management	1.83M	5.28%	13G	Apr 30, 2026
Topline Capital Management, LLC	1.79M	5.14%	13F	May 15, 2026

Insider tradesForm 4

Date	Insider	Role	Shares	Avg price
Aug 20, 2026	Brian J. Cobb	officer: CFO	+20,000	$1.10
Aug 17, 2026	Bruce Kenneth Hounsell	officer: President, Heritage DebtX LLC	+10,000	$1.14
Aug 17, 2026	Nicholas Kirk Dove	officer: President, Industrial Assets	+60,000	$1.10
May 21, 2026	Nicholas Kirk Dove	officer: President, Industrial Assets	+26,000	$1.22
May 1, 2026	James Edward Sklar	officer: EVP, Gen Counsel & Secretary	−3,734	$1.33