Flagship explainer

How HERITAGE GLOBAL INC. makes its money

Start with a dollar of revenue and follow what the filing says remains.

revenueBranching filed flows with values and percentages directly labeled. Missing filing concepts are omitted rather than estimated.Revenue$51M · 100%Cost of revenue$37M · 73%Gross profit$14M · 27%Operating income$5.7M · 11%Income before tax$5.8M · 11%Income tax$2.3M · 4%Net income$3.6M · 7%As of 2025-12-31 · 1 SEC filing sourceBuy Like Buffett · buylikebuffett.com

Honest partial: the filing did not provide a normalized tag for Research and development, Selling, general and administrative; those components are omitted, not plugged.

Table alternative
Filed lineValue% of revenueSource
$51M100%
Cost of revenue$37M73%
$14M27%
$5.7M11%
Income before tax$5.8M11%
Income tax$2.3M4%
$3.6M7%
Source: · event Dec 31, 2025 · retrieved Jul 26, 2026 · annual-row source set
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