10-Q · February 5, 2026
Hennessy Advisors reported quarterly revenue of $8.32 million and diluted EPS of $0.24 for the three months ended December 31, 2025. Revenue and margins declined vs. the prior year (revenue down $1.388 million YoY) and…
Earnings analysis · 10-Q
HNNA earnings analysis
Filed May 6, 2026 · Our reading of the company's report
The latest report
Hennessy Advisors, Inc. reported a challenging quarter, with total revenue decreasing by 12.3% year-over-year to $8.1 million, while diluted EPS fell by 26.1% to $0.24. The company's net income also declined…
Read full summary
Hennessy Advisors, Inc. reported a challenging quarter, with total revenue decreasing by 12.3% year-over-year to $8.1 million, while diluted EPS fell by 26.1% to $0.24. The company's net income also declined significantly, driven by decreases in average assets under management following net outflows from their funds.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
From revenue to operating profit
Where each $100 of revenue went in this report.
Cost of sales, operating expenses, and what remained. Figures are rounded to whole dollars.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $0.24
What stood out
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Revenue Decline vs Prior Year
Total revenue decreased by 12.3% YoY from $9.3 million to $8.1 million.
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Decreased EPS Impact
Diluted EPS fell 26.1% YoY from $0.33 to $0.24.
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Controlled Operating Expenses
Operating expenses fell by 5.2% from $5.8 million to $5.5 million despite revenue decline.
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Cash Holdings Strong
Cash and cash equivalents remained relatively stable at $73.0 million.
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Less Redemption Pressure
Redemptions as a percentage of assets under management decreased from 5.5% to 2.6% MoM.
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Increased Dividend Yield
Quarterly dividend maintained at $0.15 per share, yielding 6.0%.
What to watch
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Declining Assets Under Management
Total assets under management fell by 7.8% YoY, from $4.2 billion to $3.9 billion.
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Geopolitical and Market Uncertainty
Increased geopolitical risks have negatively affected investor confidence and fund inflows.
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Profitability Decline
Net income dropped by 29.1% from $5.4 million to $3.8 million, highlighting challenges in maintaining profitability.
Management's outlook
No numeric guidance provided, outlook remains cautious due to market conditions.
Earlier filings 4
10-K · December 3, 2025
Hennessy Advisors positions itself as a boutique investment-manager that earns fees as a percentage of fund NAVs and pursues organic growth plus strategic purchases of management-related assets. The filing reports…
10-Q · August 6, 2025
Hennessy reported quarterly revenue of $8,054,000 (up $270,000 vs. the three months ended June 30, 2024) and net income of $2,121,000 (up $92,000 YoY) with diluted EPS of $0.26 (unchanged YoY). Operating income…
10-Q · May 7, 2025
Hennessy reported quarterly revenue of $9,276,000 and diluted EPS of $0.33 for the three months ended March 31, 2025, up from $6,940,000 and $0.20 in the prior-year quarter. Operating margin expanded to 37.2% (net…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.