HKHC
Horizon Kinetics Holding Corporation25.51
-0.49-1.88%
Dec 16, 4:00:00 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
No earnings call transcript available
Key Stats
Market Cap
475.39MP/E (TTM)
-Basic EPS (TTM)
-7.48Dividend Yield
0.01%Recent Filings
8-K
2025 revenues up 31%
Horizon Kinetics Holding Corporation reported 2025 results on March 12, 2026, with revenues up 31% to $72.8 million on mutual fund and ETF fee growth, yet net income attributable to the company fell to $5.1 million from $92.5 million amid TPL and GBTC declines. AUM hit $9.6 billion. Advisor-only operating income: $21.4 million. Board declared $0.121 per share dividend.
10-K
FY2025 results
Horizon Kinetics Holding Corporation posted FY2025 revenue up 30% to $72.4M on higher average AUM across mutual funds and ETFs, despite ending AUM dipping 2% to $9.6B from TPL's 22% drop and GBTC weakness. Management fees jumped, with mutual funds up 42% and ETFs 56%, fueling operating income of $11.1M versus prior loss; yet unrealized investment losses of $15.6M on TPL holdings dragged net income to $5.1M ($0.27/share, 18,635 diluted shares). Expenses fell 15% on lower bonuses from weak $0.7M incentive fees. Q4 saw steady quarterly dividends totaling $0.34/share, with $36.9M cash bolstering liquidity. TPL remains ~65% of AUM.
10-Q
Q3 FY2025 results
Management fees surged 36% y/y to $17.8M in Q3 ended September 30, 2025, fueled by mutual funds and ETFs, flipping operating income to $2.9M from a $0.9M loss while op ex held steady. Net income to HKHC hit $7.2M or $0.39/share on 18,635 diluted shares, versus a $38.2M loss last year, though consolidated results swung wildly on CIP performance. Cash climbed to $37.7M; sold consumer brands for $0.4M cash plus royalties to 2035. Investments dipped to $83.1M on TPL weakness. Funds face fierce competition.
8-K
Q3 fees up 36%, AUM $10.4B
Horizon Kinetics Holding Corporation reported Q3 2025 results on November 13, with management and advisory fee revenue surging 36% to $17.8 million, fueled by AUM growth to $10.4 billion amid TPL and Grayscale Bitcoin Trust gains plus net inflows. Operating income flipped to $2.9 million from a $0.9 million loss; net income hit $7.2 million or $0.39 per share. Board declared $0.106 per share dividend. TPL's 12% drop sparked $7.0 million unrealized losses.
10-Q
Q2 FY2025 results
Horizon Kinetics Holding Corporation posted solid revenue growth in Q2 FY2025 ended June 30, 2025, with management and advisory fees up 66% y/y to $18.8M from $11.3M, fueled by higher AUM across mutual funds, ETFs, and separately managed accounts, while total revenue climbed 73% y/y to $19.8M. Operating income swung to a $2.5M profit from a $0.7M loss y/y, though net loss hit $10.5M after $29.9M in other expenses, mainly from unrealized investment losses and CIP volatility—yet the company eked out $12.4M YTD net income attributable to shareholders. Cash swelled to $38.9M, bolstered by $23.8M investing inflows, with no debt and ample liquidity for operations. A $0.9M goodwill impairment dinged the consumer products unit, acquired in 2024. The asset management business is intensely competitive.
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