Here are the 10-Q quarterly reports from Hennessy Advisors, Inc. 4.875% Notes due 2026 (HNNAZ) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow HNNAZ and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full HNNAZ filings page.
Hennessy Advisors, Inc. reported softer results for the quarter and six months ended March 31, 2026 as lower assets under management reduced fee income. For the six-month period, total revenue was $16.5 million, down from $19.0 million, while net income declined to $3.8 million from $5.4 million. Average assets under management fell 12.9% year over year to $4.2 billion, and period-end assets under management were $3.9 billion, down 7.8%. Operating expenses declined in dollars but rose as a percentage of revenue, pressuring margins. The company ended the period with $73.1 million in cash and cash equivalents and carries 4.875% Notes due 2026 with $40.25 million principal outstanding, while continuing regular dividends of $0.15 per share in the most recent quarter.
Hennessy Advisors reported weaker results for the quarter ended December 31, 2025. Total revenue fell to $8.3 million from $9.7 million, mainly because average assets under management declined 13.5% to $4.17 billion, reflecting higher redemptions and no net inflows.
Net income dropped to $1.93 million from $2.83 million, a 31.9% decrease, and diluted EPS was $0.24 versus $0.36. Ending assets under management were $4.1 billion, down 14.3% year over year, while cash and cash equivalents were $72.0 million. The company expensed $0.3 million of previously capitalized costs after terminating an ETF acquisition agreement and reclassified $39.9 million of 4.875% notes due 2026 to current liabilities. Hennessy Advisors continued its quarterly dividend at $0.1375 per share.