Heritage Global reports Q2 2026 operating loss, revenue declines

Heritage Global (NASDAQ: HGBL ) released second-quarter financial results and hosted an earnings call on Thursday.

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For comprehensive financial data and transcripts, visit View the webcast at Summary Heritage Global Inc. reported a second-quarter operating loss of $20.9 million, impacted by a $21.7 million non-cash charge from winding down Heritage Global Capital.

The company acquired Boston Note, expanding its Financial Assets platform, and completed the acquisition of DedX earlier in 2026, enhancing its asset-light brokerage offerings.

Despite a decrease in revenue from $14.3 million to $12.3 million year-over-year, the company sees a strong future pipeline in its Industrial Assets division, focusing on diverse and larger auctions.

Management emphasized the strategic shift away from non-performing sectors to concentrate on profitable and core business units, citing a focus on long-term growth and shareholder value.

CEO Ross Dove expressed optimism about future growth, highlighting the potential synergies from recent acquisitions and a robust pipeline in both industrial and financial asset divisions.

Full Transcript OPERATOR Hello and welcome, everyone, to today's Heritage Global Inc. second quarter 2026 earnings call.

At this time, all participants are in a listen-only mode.

Later, you will have the opportunity to ask questions during the question-and-answer session.

To register to ask a question at any time, please press star one on your telephone keypad.

Please note this call is being recorded.

Should you need any assistance, it is now my pleasure to turn the meeting over to Jen Belladow.

Please go ahead.

Jen Belladow, Investor Relations Thank you, and good afternoon, everyone.

Before we begin, I'd like to remind everyone that this conference call contains forward-looking statements based on our current expectations and projections about future events and are subject to change based on various important factors.

In light of these risks, uncertainties, and assumptions, you should not place undue reliance on these forward-looking statements, which speak only as of the date of this call.

For more details on factors that could affect these expectations, please see our filings with the Securities and Exchange Commission.

Now I'd like to turn the call over to Heritage Global's Chief Executive Officer, Mr.

Ross Dove.

Please go ahead, Ross.

Ross Dove, Chief Executive Officer Welcome, everyone, and thanks for joining us today.

Before I turn it over to Brian to go through the financials, I want to take a few minutes to add some color to our recent news.

Closing Heritage Capital was at a point of no return where it became both obvious and necessary on multiple fronts.

First, the distraction on the management team, then coupled with the continued lag on collections that was not improving.

Our board and many investors had weighed in for several months that all focus should now be on growing the business units that are both profitable and strong and core to our future.

So honestly, it's a relief moving forward to just do that.

It can be hard to fold, but I look at the great poker player Stu Unger and maybe he had the best advice of all: fold to live to fold again.

With that, everyone here is moving on building the business units that are built to last.

On the financial side, our acquisition of Boston Note that followed the DedX acquisition is very exciting.

With DedX, along with NLEX and Boston Note, we have an asset-light brokerage now that truly serves a broad and diverse range of financial asset classes, both performing and non-performing, and covering institutional and private sellers.

With all the building blocks ready to accelerate growth, it's exciting.

On the industrial side, we have expanded our sales force and already see an expanded and more diverse sector pipeline, with more bankruptcy assignments, and also added transportation and construction products, which are additive to our well-respected and key manufacturing and processing auctions.

We have built an extremely robust inventory holding at Alt, bringing us more buyers to the HG family as well.

The charter is simple and up to us.