Hennessy Advisors, Inc. 4.875% Notes due 2026 (HNNAZ) Financial Statements

Income statement

Metric	TTM	2025	2024	2023	2022
Revenue
Total Revenue	33.0M	35.5M	29.6M	24.0M	29.7M
Cost of Revenue	7.7M	10.6M	9.1M	12.0M	8.3M
Gross Profit	25.3M	24.9M	20.6M	12.0M	21.3M
Operating Expenses
R&D Expense	—	—	—	—	—
SG&A Expense	4.8M	6.3M	6.5M	5.5M	11.3M
General & Admin Expense	4.8M	6.3M	6.5M	5.0M	10.8M
Selling & Marketing Expense	—	—	—	510.0K	536.0K
Other Expenses	9.5M	5.5M	5.2M	230.0K	207.0K
Total Operating Expenses	14.3M	11.8M	11.7M	5.7M	11.5M
Cost and Expenses	21.9M	22.4M	20.8M	17.7M	19.8M
Operating Income (EBIT)	11.1M	13.1M	8.9M	6.3M	9.8M
Non-Operating
Interest Income	2.6M	2.8M	3.1M	2.5M	229.0K
Interest Expense	2.3M	2.3M	2.3M	2.3M	2.1M
Net Interest Income	344.0K	475.0K	837.0K	266.0K	(1.9M)
Other Non-Op Income/Expense	344.0K	475.0K	837.0K	266.0K	(1.9M)
Non-Operating Income (excl Interest)	(614.0K)	—	—	—	—
EBT (Pre-Tax Income)	11.4M	13.6M	9.7M	6.6M	7.9M
Income Tax Expense	3.0M	3.7M	2.6M	1.8M	1.8M
Bottom Line
Net Income	8.4M	10.0M	7.1M	4.8M	6.2M
Earnings from Cont. Ops	8.4M	10.0M	7.1M	4.8M	6.2M
Earnings from Discont. Ops	—	—	—	—	—
Bottom Line Net Income	8.4M	10.0M	7.1M	4.8M	6.2M
Per Share
Basic EPS	$1.07	$1.28	$0.92	$0.63	$0.83
Diluted EPS	$1.06	$1.27	$0.92	$0.63	$0.82
Revenue Per Share	$4.18	$4.56	$3.86	$3.17	$3.96
Shares
Basic Shares Outstanding	7.9M	7.8M	7.7M	7.6M	7.5M
Diluted Shares Outstanding	8.0M	7.8M	7.7M	7.6M	7.6M
Profitability Metrics
EBITDA	12.0M	13.4M	9.1M	6.6M	10.0M
D&A	312.0K	290.0K	244.0K	230.0K	207.0K
EBIT	11.7M	13.1M	8.9M	6.3M	9.8M

As reported, in the filing currency · TTM sums the four latest quarters; MRQ is the latest quarter · Negatives in parentheses; a dash is a line the filing does not carry · Data as of Mar 1, 2026