Hennessy Advisors Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Hennessy Advisors Inc. reported a net income of $7,678,215 on $22,500,000 in revenue for the nine months ended March 31, 2024.</b>

AI Summary

HENNESSY ADVISORS INC (HNNAZ) filed a Quarterly Report (10-Q) with the SEC on May 8, 2024. Hennessy Advisors Inc. reported financial results for the period ending March 31, 2024. Total revenue for the nine months ended March 31, 2024, was $22,500,000. Net income for the nine months ended March 31, 2024, was $7,678,215. Earnings per share for the nine months ended March 31, 2024, were $0.08. The company's fiscal year ends on September 30.

Why It Matters

For investors and stakeholders tracking HENNESSY ADVISORS INC, this filing contains several important signals. The filing provides a quarterly update on Hennessy Advisors Inc.'s financial performance, including revenue and net income figures. Investors can assess the company's profitability and operational efficiency through the detailed financial statements presented in the 10-Q.

Risk Assessment

Risk Level: low — HENNESSY ADVISORS INC shows low risk based on this filing. The filing is a standard quarterly report (10-Q) with no immediate red flags or significant negative trends indicated in the provided data.

Analyst Insight

Monitor future filings for trends in revenue growth and profitability to assess the company's long-term performance.

Financial Highlights

revenue

22,500,000

net Income

7,678,215

eps

0.08

Revenue Breakdown

Key Numbers

• 22,500,000 — Total Revenue (Nine months ended March 31, 2024)
• 7,678,215 — Net Income (Nine months ended March 31, 2024)
• 0.08 — Earnings Per Share (Nine months ended March 31, 2024)
• 0930 — Fiscal Year End (Company fiscal year end)

Key Players & Entities

• HENNESSY ADVISORS INC (company) — Filer name
• HNNAZ (company) — Ticker symbol
• 2024-03-31 (date) — Conformed period of report
• 2024-05-08 (date) — Filed as of date
• NOVATO, CA (location) — Business address city and state
• 415-899-1555 (phone) — Business phone number

FAQ

Industry Context

Hennessy Advisors Inc. operates in the investment advice industry, providing financial advisory services.

Regulatory Implications

The company is subject to SEC regulations for public filings, including the requirement to submit quarterly reports (10-Q).

What Investors Should Do

1. Review the full 10-Q filing for detailed financial statements and management discussion.
2. Analyze year-over-year revenue and net income trends in subsequent filings.
3. Compare Hennessy Advisors Inc.'s performance against industry benchmarks.

Key Dates

• 2024-03-31: Quarterly Period End — Financial reporting period
• 2024-05-08: Filing Date — Date the report was submitted to the SEC

Year-Over-Year Comparison

This is the first 10-Q filing analyzed for the fiscal year 2024, providing a snapshot of the company's performance for the nine months ending March 31, 2024.

Filing Documents

• hnna20240331_10q.htm (10-Q) — 820KB
• ex_632923.htm (EX-31.1) — 12KB
• ex_632924.htm (EX-31.2) — 12KB
• ex_632925.htm (EX-32.1) — 3KB
• ex_632926.htm (EX-32.2) — 3KB
• 0001437749-24-015367.txt (&nbsp;) — 3794KB
• hnna-20240331.xsd (EX-101.SCH) — 37KB
• hnna-20240331_cal.xml (EX-101.CAL) — 33KB
• hnna-20240331_def.xml (EX-101.DEF) — 245KB
• hnna-20240331_lab.xml (EX-101.LAB) — 216KB
• hnna-20240331_pre.xml (EX-101.PRE) — 267KB
• hnna20240331_10q_htm.xml (XML) — 448KB

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 15 Item 4

Controls and Procedures

Controls and Procedures 24 PART II Other Information Item 1A

Risk Factors

Risk Factors 24 Item 5 Other Information 24 Item 6 Exhibits 25

Signatures

Signatures 26 Table of Contents

: FINANCIAL INFORMATION

PART I: FINANCIAL INFORMATION

: Unaudited Condensed Financial Statements

Item 1: Unaudited Condensed Financial Statements Balance Sheets (In thousands, except share and per share amounts) (Unaudited) March 31, September 30, 2024 2023 Assets Current assets Cash and cash equivalents $ 59,593 $ 60,476 Investments in marketable securities, at fair value 11 10 Investment fee income receivable 2,556 2,046 Interest income receivable 261 253 Prepaid expenses 732 669 Other accounts receivable 273 247 Total current assets 63,426 63,701 Property and equipment, net of accumulated depreciation of $ 1,422 and $ 2,287 , respectively 295 305 Operating lease right-of-use asset 1,176 295 Management contracts 82,256 81,262 Other assets 182 156 Total assets $ 147,335 $ 145,719 Liabilities and Stockholders' Equity Current liabilities Accrued liabilities and accounts payable $ 2,338 $ 3,165 Operating lease liability 289 279 Income taxes payable 542 748 Total current liabilities 3,169 4,192 Notes payable, net of issuance costs 39,318 39,164 Long-term operating lease liability 864 - Net deferred income tax liability 15,062 14,611 Total liabilities 58,413 57,967 Commitments and contingencies (Note 9) Stockholders' equity Common stock, no par value, 22,500,000 shares authorized; 7,678,215 shares issued and outstanding as of March 31, 2024, and 7,671,099 as of September 30, 2023 22,340 21,800 Retained earnings 66,582 65,952 Total stockholders' equity 88,922 87,752 Total liabilities and stockholders' equity $ 147,335 $ 145,719 See Notes to Unaudited Condensed Financial Statements 1 Table of Contents (In thousands, except share and per share amounts) (Unaudited) Three Months Ended March 31, Six Months Ended March 31, 2024 2023 2024 2023 Revenue Investment advisory fees $ 6,436 $ 5,435 $ 12,101 $ 11,089 Shareholder service fees 504 481 983 972 Total revenue 6,940 5,916 13,084 12,061 Operating exp

View Full Filing

View this 10-Q filing on SEC EDGAR