Heritage Global Q2 adjusted EBITDA misses as specialty lending exit weighs

Heritage Global

13/08/2026 21:14

Overview
US asset services firm's Q2 revenue declined yr/yr, while results were hit by specialty lending exit charges
Q2 adjusted EBITDA missed analyst expectations
Company completed Boston Note acquisition after quarter end to expand financial assets platform

Outlook
Company did not provide specific guidance for future quarters or the full year

Result Drivers
SPECIALTY LENDING EXIT - Co said Q2 results were shaped by decision to substantially wind down Heritage Global Capital, leading to significant noncash charges
NONCASH CHARGES - Co recorded $21.7 mln in noncash charges related to write-down of non-performing loans and impairment of equity method investments
LOWER REVENUE - Revenue fell to $12.3 mln from $14.3 mln yr/yr

Company press release: ID:nBw7kbpLLa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Loss Per Share
 
$0.46
 
Q2 Net Loss
 
$15.89 mln
 
Q2 Adjusted EBITDA
Miss
$1.19 mln
$1.84 mln (3 Analysts)
Q2 Loss Per Basic Share
 
$0.46
 
Q2 Operating Loss
 
$20.91 mln
 
Q2 Pretax Loss
 
$20.98 mln
 

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)