NASDAQ: HMH
HMH Holding IncCIK 0002021880 · SIC 3533 · Oil & Gas Field Machinery & Equipment
Mid by assets
Assets $1.4B
as of Nov 1, 2026
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10-Q
Filed Nov 4, 2026
· Period ending Sep 30, 2026
Summary not yet generated.
424B3
Filed Nov 4, 2026
Summary not yet generated.
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8-K
Filed Nov 4, 2026
· Period ending Nov 4, 2026
Summary not yet generated.
S-1
Filed Sep 28, 2026
Red flag
HMH Holding files for IPO of 31.9M shares, all sold by insiders; company gets no proceeds
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8-K
Filed Aug 5, 2026
· Period ending Aug 5, 2026
Summary not yet generated.
10-Q
Filed Aug 5, 2026
· Period ending Jun 30, 2026
Summary not yet generated.
8-K
Filed May 6, 2026
· Period ending May 6, 2026
Summary not yet generated.
10-Q
Filed May 6, 2026
· Period ending Mar 31, 2026
Summary not yet generated.
8-K
Filed Apr 2, 2026
· Period ending Mar 31, 2026
Summary not yet generated.
424B4
Filed Apr 1, 2026
Summary not yet generated.
S-1/A
Filed Mar 23, 2026
Summary not yet generated.
S-1/A
Filed Mar 18, 2026
Summary not yet generated.
S-1/A
Filed Mar 5, 2026
Summary not yet generated.
S-1
Filed Aug 12, 2024
Summary not yet generated.
Latest financial statements
From 10-Q filed Nov 4, 2026 (period ending Sep 30, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.
Condensed Consolidated Statements of Income (Unaudited)
(in thousands, except per share amounts)
| Description | Three months ended September 30, 2026 | Three months ended September 30, 2025 | Nine months ended September 30, 2026 | Nine months ended September 30, 2025 |
|---|---|---|---|---|
| Revenue | ||||
| Service revenue | 97,128 | 104,838 | 258,209 | 280,678 |
| Product revenue | 16,705 | 53,954 | 69,198 | 167,424 |
| Spare parts revenue | 57,202 | 58,186 | 184,884 | 170,511 |
| Related party revenue | 45 | 193 | 932 | 445 |
| Total revenue | 171,080 | 217,171 | 513,223 | 619,058 |
| Operating expenses | ||||
| Cost of services sold | 63,733 | 71,737 | 175,557 | 192,486 |
| Cost of goods sold products | 19,905 | 52,441 | 61,799 | 152,560 |
| Cost of goods sold spare parts | 29,288 | 33,227 | 101,727 | 105,787 |
| Total cost of sales | 112,926 | 157,405 | 339,083 | 450,833 |
| Selling, general and administrative expenses | 33,928 | 31,361 | 129,393 | 97,040 |
| Research and development expenses | 222 | 98 | 1,407 | 1,778 |
| Restructuring and other expenses | 2,174 | 104 | 7,178 | 4,447 |
| Total operating expenses | 149,250 | 188,968 | 477,061 | 554,098 |
| Operating income (loss) | 21,830 | 28,203 | 36,162 | 64,960 |
| Foreign currency gain (loss), net | (113) | 74 | (2,932) | 7,015 |
| Other non-operating income (loss), net | (441) | 229 | (854) | 876 |
| Interest income (expense), net | (3,759) | (8,334) | (14,657) | (26,619) |
| Income before income taxes | 17,517 | 20,172 | 17,719 | 46,232 |
| Income tax expense | (7,176) | (4,343) | (8,522) | (14,757) |
| Net income | 10,341 | 15,829 | 9,197 | 31,475 |
| Less: Net income (loss) attributable to non-controlling interests | 5,358 | (357) | (4,210) | 228 |
| Net income attributable to HMH Holding Inc. | 4,983 | 16,186 | 13,407 | 31,247 |
| Net income per share of common stock (actual)(a): | ||||
| Basic | 0.41 | 0.23 | 1.68 | 0.45 |
| Diluted | 0.40 | 0.23 | 1.56 | 0.45 |
| Weighted-average shares of common stock for HMH and HMH B.V. outstanding (a): | ||||
| Basic | 12,094 | 69,355 | 7,963 | 69,355 |
| Diluted | 12,423 | 69,355 | 8,616 | 69,355 |
Condensed Consolidated Balance Sheets (Unaudited)
(in thousands, except par value)
| Description | September 30, 2026 | December 31, 2025 |
|---|---|---|
| Assets | ||
| Current assets | ||
| Cash and cash equivalents | 90,073 | 96,585 |
| Current accounts receivable, net of allowance of $1,960 and $2,889, respectively | 143,267 | 108,060 |
| Related party accounts receivable | 1,778 | 1,499 |
| Related party notes receivable—current | 4,459 | 3,653 |
| Contract assets | 134,142 | 114,918 |
| Inventories, net | 267,016 | 253,759 |
| Other current receivables | 20,634 | 17,854 |
| Prepaids and other current assets | 15,004 | 32,882 |
| Total current assets | 676,373 | 629,210 |
| Property, plant and equipment, net of accumulated depreciation of $80,549 and $67,372, respectively | 195,372 | 200,818 |
| Goodwill | 314,236 | 307,014 |
| Customer relationships, net of accumulated amortization of $53,738 and $46,299, respectively | 63,871 | 67,224 |
| Other intangible assets, net of accumulated amortization of $60,856 and $49,731, respectively | 53,351 | 54,846 |
| Related party note receivable | 22,776 | 33,604 |
| Right-of-use assets | 47,258 | 48,739 |
| Other assets | 26,175 | 16,249 |
| Total assets | 1,399,412 | 1,357,704 |
| Liabilities and equity | ||
| Current liabilities | ||
| Accounts payable | 68,500 | 56,206 |
| Accounts payable—related party | 12 | 107 |
| Current portion of long-term debt, net | 745 | 715 |
| Contract liabilities | 54,281 | 35,249 |
| Accrued expenses | 86,914 | 95,780 |
| Other current liabilities | 27,599 | 35,582 |
| Total current liabilities | 238,051 | 223,639 |
| Long-term debt, net | 196,727 | 195,636 |
| Long-term debt, net—related party | — | 143,732 |
| Non-current operating lease liabilities | 41,542 | 39,922 |
| Other liabilities | 64,717 | 54,323 |
| Total liabilities | 541,037 | 657,252 |
| Equity | ||
| Members’ equity | — | 698,613 |
| Class A common stock (par value $0.01 per share; Authorized 1,000,000,000 shares; Issued — 12,569,738 shares; and Shares outstanding — 12,201,501 as of September 30, 2026) | 122 | — |
| Class B common stock (par value $0.01 per share; Authorized 500,000,000 shares; Issued — 31,891,652 shares; and Shares outstanding — 31,891,652 as of September 30, 2026) | 319 | — |
| Additional paid-in capital | 188,450 | — |
| Retained earnings | 32,549 | — |
| Accumulated other comprehensive income (loss) | 2,421 | — |
| Class A common stock held in treasury (368,237 shares as of September 30, 2026) | (7,086) | — |
| HMH Holding Inc. equity | 216,775 | 698,613 |
| Non-controlling interests | 641,600 | 1,839 |
| Total equity | 858,375 | 700,452 |
| Total liabilities and shareholders’ equity | 1,399,412 | 1,357,704 |
Condensed Consolidated Statements of Cash Flows (Unaudited)
(in thousands)
| Description | Nine months ended September 30, 2026 | Nine months ended September 30, 2025 |
|---|---|---|
| Cash flows from operating activities | ||
| Net income | 9,197 | 31,475 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Depreciation and amortization | 32,359 | 31,877 |
| Share-based compensation expense | 25,118 | — |
| Amortization of borrowing costs | 1,091 | 1,436 |
| Restructuring and other expenses | 203 | 1,800 |
| Deferred tax expense | (4,406) | (145) |
| Payment-in-kind interest | 2,908 | 8,081 |
| Provision for bad debt expense | 891 | 13,637 |
| Provision for inventory write-down | 2,608 | 6,636 |
| Changes in operating assets and liabilities | ||
| Accounts receivable and related party accounts receivable | (31,724) | 12,400 |
| Contract assets | (15,600) | 11,267 |
| Inventories, net | (15,893) | 25,029 |
| Other current receivables | (3,297) | 15,314 |
| Prepaid and other current assets | 2,864 | (10,640) |
| Accounts payable and accounts payable—related party | 11,204 | (61,064) |
| Accrued expenses | (11,526) | (31,460) |
| Contract liabilities | 18,392 | (15,216) |
| Other current and long-term liabilities | (3,456) | (8,802) |
| Other, net | (1,966) | (2,677) |
| Net cash provided by operating activities | 18,967 | 28,948 |
| Cash flows from investing activities | ||
| Purchase of property, plant and equipment | (3,813) | (6,586) |
| Development costs | (9,574) | (4,399) |
| Acquisitions of business, net of cash | (15,269) | — |
| Net cash used in investing activities | (28,656) | (10,985) |
| Cash flows from financing activities | ||
| Issuance of common stock in initial public offering (IPO), net of underwriting discount | 210,670 | — |
| Purchase of HMH B.V. voting shares from Principal Stockholders | (39,480) | — |
| Redemption under exchange agreement with Principal Stockholders | (12,894) | — |
| IPO issuance costs | (10,797) | — |
| Repayment of long-term debt, net—related party | (137,099) | — |
| Proceeds from issuance of revolving credit facilities | 719 | 115,702 |
| Repayment of revolving credit facilities | (745) | (130,000) |
| Purchase of treasury shares | (7,086) | — |
| Net cash provided by (used in) financing activities | 3,288 | (14,298) |
| Effect of foreign exchange rate on cash and cash equivalents | (111) | 4,031 |
| Net increase (decrease) in cash and cash equivalents | (6,512) | 7,696 |
| Cash and cash equivalents beginning of period | 96,585 | 48,912 |
| Cash and cash equivalents end of period | 90,073 | 56,608 |
| Supplemental cash flow information: | ||
| Cash paid for income taxes, net | 14,750 | 14,645 |
| Cash paid for interest | 9,802 | 15,121 |
| Supplemental non-cash financing activities: | ||
| Deferred IPO cost netted with IPO proceeds | 15,809 | — |
| Settlement of long-term debt, net —related party and related party notes receivable | 9,541 | — |
Amounts as printed on the EDGAR/iXBRL face — (in thousands, except per share amounts); (in thousands, except par value); (in thousands). Labels, columns, and figures are the filing face, not a GAAP stencil. Interactive statements & notes on EDGAR ↗