Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $23.8M | $20.1M | $23.7M | $26.2M | $26.2M | $25.8M | $46.9M | $60.5M | $45.4M | $51.0M |
| Revenue growth | — | -15.5% | 17.6% | 10.6% | 0.1% | -1.5% | 81.9% | 29.1% | -25.1% | 12.4% |
| Operating income | $190K | $364K | $4.08M | $3.05M | $6.06M | $3.01M | $11.1M | $14.3M | $9.07M | $5.71M |
| Operating margin | 0.8% | 1.8% | 17.2% | 11.7% | 23.1% | 11.7% | 23.7% | 23.7% | 20.0% | 11.2% |
| Net income | $14.0K | -$249K | $3.75M | $3.90M | $9.66M | $3.05M | $15.5M | $12.5M | $5.18M | $3.59M |
| Net margin | 0.1% | -1.2% | 15.9% | 14.9% | 36.9% | 11.8% | 33.0% | 20.6% | 11.4% | 7.0% |
| EPS (diluted) | $0.00 | -$0.01 | $0.13 | $0.13 | $0.30 | $0.08 | $0.42 | $0.33 | $0.14 | $0.10 |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $3.92M | $1.18M | $7.47M | $794K | $9.15M | -$2.63M | $6.48M | $13.0M | $7.75M | $6.14M |
| Capital expenditures | $99.0K | $44.0K | $99.0K | $116K | $7.00K | $1.43M | $215K | $257K | $137K | $8.47M |
| Free cash flow | $3.82M | $1.14M | $7.37M | $678K | $9.14M | -$4.06M | $6.27M | $12.8M | $7.61M | -$2.33M |
| Share buybacks | — | — | — | — | — | $0.00 | $395K | $400K | $2.20M | $2.63M |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $2.53M | $2.11M | $4.27M | $2.73M | $23.4M | $13.6M | $12.7M | $12.3M | $21.7M | $20.5M |
| Total assets | $15.1M | $13.4M | $20.6M | $21.9M | $44.6M | $50.5M | $67.6M | $83.2M | $81.3M | $88.4M |
| Total liabilities | $11.7M | $9.96M | $13.0M | $10.1M | $14.6M | $17.8M | $19.3M | $22.1M | $16.1M | $21.5M |
| Long-term debt | — | — | — | — | — | — | — | $7.23M | — | — |
| Shareholders' equity | $3.49M | $3.49M | $7.60M | $11.8M | $29.9M | $32.6M | $48.3M | $61.1M | $65.2M | $67.0M |
| Retained earnings | -$281M | -$281M | -$277M | -$273M | -$264M | -$261M | -$245M | -$233M | -$228M | -$224M |
| Shares (wtd avg diluted) | 28.4M | 28.5M | 28.9M | 29.3M | 32.7M | 36.9M | 37.1M | 37.6M | 37.1M | 35.4M |
Every figure is extracted from Heritage Global Inc.’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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