Heritage Global Inc. (HGBL) quarterly cash flow statement — complete operating, investing & financing history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Cash from Operations | -2.18M | 1.58M | 61K | 1.88M | 2.62M | -5.51M | 3M | 6.05M | 1.68M | 446K | 5.91M | -1.98M | 9.32M | 3.91M | 1.45M | 2.44M | 3.09M | 1.5M | 246K | 1.54M |
| Operating CF Margin % | -17.1% | 13.33% | 0.54% | 13.14% | 19.44% | -51.17% | 28.84% | 50.35% | 13.78% | 2.92% | 38.02% | -15.09% | 56.12% | 28.28% | 11.47% | 22.06% | 33.06% | 19.87% | 4.11% | 29.69% |
| Operating CF Growth % | -183.15% | 128.68% | -97.97% | -68.96% | 56.15% | -1335.2% | -49.22% | 406.38% | -82.02% | -88.6% | 307.16% | -180.95% | 201.39% | 161.67% | 490.24% | 58.82% | 153.08% | -76.43% | -93.23% | 316.78% |
| Net Income | 717K | 301K | 585K | 1.64M | 1.06M | -203K | 1.09M | 2.5M | 1.8M | 4.89M | 1.98M | 2.78M | 2.83M | 9.97M | 2.3M | 2.58M | 645K | 960K | 474K | 587K |
| Depreciation & Amortization | 353K | 293K | 294K | 458K | 118K | 808K | -365K | 472K | 141K | 141K | 132K | 483K | 279K | 136K | 134K | 259K | 133K | 166K | 227K | 251K |
| Stock-Based Compensation | 0 | 187K | 204K | 229K | 280K | 452K | 283K | 290K | 228K | 194K | 175K | 0 | 0 | 156K | 170K | 0 | 106K | 95K | 0 | 0 |
| Deferred Taxes | -84K | 427K | 624K | 270K | 285K | 1.73M | 419K | 478K | 478K | -752K | 722K | -368K | 816K | -6.33M | 875K | 366K | 130K | 319K | 126K | -483K |
| Other Non-Cash Items | 186K | 103K | -117K | -244K | 106K | -602K | -2.02M | -2.13M | -624K | -676K | 743K | 27K | 315K | -707K | -1.55M | 404K | 101K | 222K | 276K | 49K |
| Working Capital Changes | -3.35M | 269K | -1.53M | -471K | 764K | -7.7M | 3.6M | 4.45M | -346K | -3.35M | 2.16M | -4.9M | 5.08M | 689K | -475K | -1.17M | 1.98M | -267K | -857K | 1.13M |
| Change in Receivables | 134K | -40K | 330K | -511K | -101K | -681K | 172K | 513K | 347K | 979K | 27K | -1.61M | -322K | 682K | 242K | 970K | -150K | 729K | -537K | -217K |
| Change in Inventory | 583K | -320K | 15K | -545K | 267K | -627K | -436K | 450K | 339K | -628K | 603K | -1.56M | 1.13M | 203K | -901K | -1.06M | 363K | -2.46M | -100K | -70K |
| Change in Payables | -1.94M | 802K | -1.78M | 1.06M | -901K | -6M | 1.16M | 4.11M | -833K | -3.78M | -722K | -1.46M | -687K | -103K | 311K | 2.64M | 1.65M | 0 | -116K | 1.71M |
| Cash from Investing | -5.91M | -471K | -339K | 896K | -9.48M | 1.99M | 5.9M | 3.39M | 2.12M | -1.33M | -6.55M | -1.51M | -7.16M | -11.39M | 1.69M | -1.26M | -978K | -2.94M | -6.56M | 808K |
| Capital Expenditures | -562K | -609K | -294K | -159K | -7.41M | -3K | -35K | -77K | -22K | -20K | -17K | -131K | -89K | -121K | -55K | -27K | -12K | -2K | -1.39M | -10K |
| CapEx % of Revenue | 4.42% | 5.14% | 2.59% | 1.11% | 55.04% | 0.03% | 0.34% | 0.64% | 0.18% | 0.13% | 0.11% | 1% | 0.54% | 0.87% | 0.43% | 0.24% | 0.13% | 0.03% | 23.2% | 0.19% |
| Acquisitions | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Investments | 19.44M | 21.06M | 21.33M | 21.28M | 21.69M | 20.89M | 21.45M | 22.38M | 30.97M | 32.25M | 16.13M | 15.78M | 13.33M | 13.97M | 8.5M | 8.24M | 6.54M | 4.68M | 3.33M | 2.89M |
| Other Investing | 892K | -183K | -36K | 642K | 305K | 1.44M | 8.87M | 3.09M | 1.05M | 3.92M | -5.83M | 1.07M | -7.54M | -2.9M | 3.88M | 708K | 1.15M | -1.43M | -251K | 1.31M |
| Cash from Financing | -875K | -21K | -134K | -1.72M | 3.9M | -1.3M | -6.91M | -436K | -497K | -2.42M | 1.18M | 2.79M | 907K | 2.66M | -1.74M | -202K | -640K | 1.83M | 2.02M | -672K |
| Debt Issued (Net) | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Equity Issued (Net) | -141K | 0 | 0 | -1.58M | -1.04M | -1.14M | -1.06M | 0 | 0 | -364K | 3K | 28K | 5K | -99K | -191K | -80K | 0 | 0 | 90K | 46K |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | -141K | 0 | 0 | -1.58M | -1.04M | -1.14M | -1.06M | 0 | 0 | -400K | 0 | 0 | 0 | -99K | -191K | -105K | 0 | 0 | 0 | 0 |
| Other Financing | 0 | 0 | 0 | -1K | -79K | -36K | 0 | -6K | -75K | -38K | -3K | -22K | -95K | 2.88M | 20K | 0 | -23K | 1K | -67K | -718K |
| Net Change in Cash | -8.96M | 1.09M | -412K | 1.06M | -2.96M | -4.82M | 1.99M | 9.01M | 3.3M | -3.3M | 543K | -698K | 3.07M | -4.82M | 1.41M | 979K | 1.48M | 388K | -4.29M | 1.67M |
| Free Cash Flow | -2.74M | 971K | -233K | 1.72M | -4.79M | -5.51M | 2.97M | 5.98M | 1.65M | 426K | 5.89M | -2.11M | 9.23M | 3.79M | 1.4M | 2.41M | 3.08M | 1.49M | -1.14M | 1.53M |
| FCF Margin % | -21.52% | 8.19% | -2.05% | 12.02% | -35.6% | -51.19% | 28.5% | 49.71% | 13.6% | 2.79% | 37.91% | -16.09% | 55.58% | 27.41% | 11.03% | 21.82% | 32.93% | 19.84% | -19.1% | 29.5% |
| FCF Growth % | 42.85% | 117.62% | -107.85% | -71.22% | -389.66% | -1393.9% | -49.67% | 383.67% | -82.09% | -88.76% | 321.98% | -187.28% | 199.68% | 153.92% | 222.12% | 58.09% | 152.67% | -76.45% | -131.5% | 315.37% |
| FCF per Share | -0.08 | 0.03 | -0.01 | 0.05 | -0.13 | -0.15 | 0.08 | 0.16 | 0.04 | 0.01 | 0.16 | -0.06 | 0.25 | 0.10 | 0.04 | 0.07 | 0.08 | 0.04 | -0.03 | 0.04 |
| FCF Conversion (FCF/Net Income) | -3.03x | 5.25x | 0.10x | 1.15x | 2.46x | 27.14x | 2.76x | 2.42x | 0.93x | 0.09x | 2.99x | -0.71x | 3.30x | 0.39x | 0.63x | 0.95x | 4.80x | 1.56x | 0.52x | 2.62x |
| Interest Paid | 0 | 6K | 18K | -32K | 51K | -235K | 126K | 108K | 92K | 88K | 79K | 0 | 0 | -3K | 41K | 0 | 32K | 16K | 0 | 0 |
| Taxes Paid | 0 | 143K | -93K | 641K | 9K | 45K | -45K | 726K | 1K | 301K | 28K | 0 | 0 | 21K | 3K | 0 | 7K | -2K | 0 | 0 |