NASDAQ: HMH
HMH Holding IncCIK 0002021880 · SIC 3533 · Oil & Gas Field Machinery & Equipment
Mid by assets
Assets $1.4B
as of Sep 28, 2026
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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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10-Q
Filed Aug 5, 2026
· Period ending Jun 30, 2026
Summary not yet generated.
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8-K
Filed Aug 5, 2026
· Period ending Aug 5, 2026
Summary not yet generated.
10-Q
Filed May 6, 2026
· Period ending Mar 31, 2026
Summary not yet generated.
8-K
Filed May 6, 2026
· Period ending May 6, 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
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S-1/A
Filed Mar 5, 2026
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S-1
Filed Aug 12, 2024
Summary not yet generated.
Latest financial statements
From 10-Q filed Aug 5, 2026 (period ending Jun 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 June 30, 2026 | Three months ended June 30, 2025 | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|---|---|
| Revenue | ||||
| Service revenue | 89,072 | 92,332 | 161,081 | 175,840 |
| Product revenue | 20,027 | 58,812 | 52,493 | 113,470 |
| Spare parts revenue | 61,163 | 52,151 | 127,682 | 112,325 |
| Related party revenue | 560 | 162 | 887 | 252 |
| Total revenue | 170,822 | 203,457 | 342,143 | 401,887 |
| Operating expenses | ||||
| Cost of services sold | 58,766 | 63,671 | 111,824 | 120,749 |
| Cost of goods sold products | 16,527 | 53,422 | 41,894 | 100,119 |
| Cost of goods sold spare parts | 34,231 | 34,452 | 72,439 | 72,560 |
| Total cost of sales | 109,524 | 151,545 | 226,157 | 293,428 |
| Selling, general and administrative expenses | 60,354 | 29,441 | 95,465 | 65,679 |
| Research and development expenses | 771 | 649 | 1,185 | 1,680 |
| Restructuring and other expenses (income), net | 5,004 | 1,072 | 5,004 | 4,343 |
| Total operating expenses | 175,653 | 182,707 | 327,811 | 365,130 |
| Operating income (loss) | (4,831) | 20,750 | 14,332 | 36,757 |
| Foreign currency gain (loss), net | (591) | 2,948 | (2,819) | 6,941 |
| Other non-operating income (loss), net | (158) | 334 | (413) | 647 |
| Interest income (expense), net | (3,945) | (9,106) | (10,898) | (18,285) |
| Income (loss) before income taxes | (9,525) | 14,926 | 202 | 26,060 |
| Income tax (expense) benefit | 4,506 | (5,158) | (1,346) | (10,414) |
| Net income (loss) | (5,019) | 9,768 | (1,144) | 15,646 |
| Less: Net income (loss) attributable to non-controlling interests | (9,995) | 819 | (9,568) | 585 |
| Net income (loss) attributable to HMH Holding Inc. | 4,976 | 8,949 | 8,424 | 15,061 |
| Net income (loss) per share of common stock (actual)(a): | ||||
| Basic | 0.43 | 0.13 | 1.44 | 0.22 |
| Diluted | 0.42 | 0.13 | 1.26 | 0.22 |
| Weighted-average shares of common stock for HMH and HMH B.V. outstanding (a): | ||||
| Basic | 11,662 | 69,355 | 5,863 | 69,355 |
| Diluted | 11,971 | 69,355 | 6,688 | 69,355 |
Condensed Consolidated Balance Sheets (Unaudited)
(in thousands, except par value)
| Description | June 30, 2026 | December 31, 2025 |
|---|---|---|
| Assets | ||
| Current assets | ||
| Cash and cash equivalents | 119,705 | 96,585 |
| Current accounts receivable, net of allowance of $1,820 and $2,889, respectively | 125,099 | 108,060 |
| Related party accounts receivable | 1,605 | 1,499 |
| Related party notes receivable—current | 4,357 | 3,653 |
| Contract assets | 104,622 | 114,918 |
| Inventories, net | 252,192 | 253,759 |
| Other current receivables | 22,500 | 17,854 |
| Prepaids and other current assets | 18,828 | 32,882 |
| Total current assets | 648,908 | 629,210 |
| Property, plant and equipment, net of accumulated depreciation of $76,391 and $67,372, respectively | 197,673 | 200,818 |
| Goodwill | 307,954 | 307,014 |
| Customer relationships, net of accumulated amortization of $50,254 and $46,299, respectively | 63,338 | 67,224 |
| Other intangible assets, net of accumulated amortization of $58,920 and $49,731, respectively | 52,064 | 54,846 |
| Related party note receivable | 22,656 | 33,604 |
| Right-of-use assets | 45,834 | 48,739 |
| Other assets | 24,138 | 16,249 |
| Total assets | 1,362,565 | 1,357,704 |
| Liabilities and equity | ||
| Current liabilities | ||
| Accounts payable | 64,439 | 56,206 |
| Accounts payable—related party | 13 | 107 |
| Current portion of long-term debt, net | 1,473 | 715 |
| Contract liabilities | 42,780 | 35,249 |
| Accrued expenses | 84,964 | 95,780 |
| Other current liabilities | 24,648 | 35,582 |
| Total current liabilities | 218,317 | 223,639 |
| Long-term debt, net | 196,363 | 195,636 |
| Long-term debt, net—related party | — | 143,732 |
| Non-current operating lease liabilities | 40,469 | 39,922 |
| Other liabilities | 61,017 | 54,323 |
| Total liabilities | 516,166 | 657,252 |
| Equity | ||
| Members’ equity | — | 698,613 |
| Class A common stock (par value $0.01 per share; Authorized 1,000,000,000 shares; Issued — 12,296,857 shares; and Shares outstanding — 12,042,625 as of June 30, 2026) | 120 | — |
| 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 June 30, 2026) | 319 | — |
| Additional paid-in capital | 185,133 | — |
| Retained earnings | 27,566 | — |
| Accumulated other comprehensive income (loss) | 2,011 | — |
| Class A common stock held in treasury (254,232 shares as of June 30, 2026) | (4,888) | — |
| HMH Holding Inc. equity | 210,261 | 698,613 |
| Non-controlling interests | 636,138 | 1,839 |
| Total equity | 846,399 | 700,452 |
| Total liabilities and shareholders’ equity | 1,362,565 | 1,357,704 |
Condensed Consolidated Statements of Cash Flows (Unaudited)
(in thousands)
| Description | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|
| Cash flows from operating activities | ||
| Net income (loss) | (1,144) | 15,646 |
| Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ||
| Depreciation and amortization | 21,719 | 20,993 |
| Share-based compensation expense | 22,775 | — |
| Amortization of borrowing costs | 727 | 975 |
| Restructuring and other expenses | — | 1,800 |
| Deferred tax expense (benefit) | (6,725) | 846 |
| Payment-in-kind interest | 2,908 | 5,421 |
| Provision for bad debt expense | 468 | 480 |
| Provision for inventory write-down | 1,989 | 3,034 |
| Changes in operating assets and liabilities | ||
| Accounts receivable and related party accounts receivable | (16,371) | (6,569) |
| Contract assets | 11,419 | 18,196 |
| Inventories, net | (956) | 1,307 |
| Other current receivables | (5,083) | 13,412 |
| Prepaid and other current assets | (1,636) | (7,582) |
| Accounts payable and accounts payable—related party | 7,858 | (38,875) |
| Accrued expenses | (12,427) | (22,192) |
| Contract liabilities | 7,504 | (295) |
| Other current and long-term liabilities | (9,915) | (8,957) |
| Other, net | 2,046 | (5,192) |
| Net cash provided by (used in) operating activities | 25,156 | (7,552) |
| Cash flows from investing activities | ||
| Purchase of property, plant and equipment | (2,086) | (4,840) |
| Development costs | (5,896) | (1,073) |
| Acquisition of business, net of cash | (770) | — |
| Net cash provided by (used in) investing activities | (8,752) | (5,913) |
| 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 | (10,380) | — |
| Repayment of long-term debt, net—related party | (137,099) | — |
| Proceeds from issuance of revolving credit facilities | 719 | 90,000 |
| Repayment of revolving credit facilities | — | (92,000) |
| Purchase of treasury shares | (4,888) | — |
| Net cash provided by (used in) financing activities | 6,648 | (2,000) |
| Effect of foreign exchange rate on cash and cash equivalents | 68 | 4,966 |
| Net increase (decrease) in cash and cash equivalents | 23,120 | (10,499) |
| Cash and cash equivalents beginning of period | 96,585 | 48,912 |
| Cash and cash equivalents end of period | 119,705 | 38,413 |
| Supplemental cash flow information: | ||
| Cash paid for income taxes, net | 13,020 | 9,175 |
| Cash paid for interest | 9,195 | 13,700 |
| 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 ↗