Hennessy Advisors Reports Q3 2024 Results

TL;DR

**HNNA Q3: Assets $22.5M, Liabilities $7.7M, Net Income $7.7M. Maturity July 2027.**

AI Summary

Hennessy Advisors Inc. reported its 10-Q filing for the period ending June 30, 2024. The company's total assets were $22,500,000, with total liabilities of $7,681,007. Net income for the period was $7,671,099. The filing also mentions a maturity date of July 31, 2027, for certain obligations.

Why It Matters

This 10-Q filing provides a snapshot of Hennessy Advisors Inc.'s financial health and performance for the third quarter of fiscal year 2024, crucial for investors assessing the company's stability and growth prospects.

Risk Assessment

Risk Level: medium — The filing indicates significant liabilities relative to assets and a maturity date for certain obligations, which could pose financial risks.

Key Numbers

• $22.5B — Total Assets (As of June 30, 2024)
• $7.7B — Total Liabilities (As of June 30, 2024)
• $7.7B — Net Income (For the period ending June 30, 2024)

Key Players & Entities

• Hennessy Advisors Inc. (company) — Filer of the 10-Q
• 20240630 (date) — End of reporting period
• $22,500,000 (dollar_amount) — Total assets
• $7,681,007 (dollar_amount) — Total liabilities
• $7,671,099 (dollar_amount) — Net income
• July 31, 2027 (date) — Maturity date

FAQ

Filing Documents

• hnna20240630_10q.htm (10-Q) — 875KB
• ex_683147.htm (EX-31.1) — 12KB
• ex_683148.htm (EX-31.2) — 12KB
• ex_683149.htm (EX-32.1) — 3KB
• ex_683150.htm (EX-32.2) — 3KB
• 0001437749-24-025553.txt ( ) — 3881KB
• hnna-20240630.xsd (EX-101.SCH) — 37KB
• hnna-20240630_cal.xml (EX-101.CAL) — 33KB
• hnna-20240630_def.xml (EX-101.DEF) — 242KB
• hnna-20240630_lab.xml (EX-101.LAB) — 221KB
• hnna-20240630_pre.xml (EX-101.PRE) — 266KB
• hnna20240630_10q_htm.xml (XML) — 458KB

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

Management's Discussion and Analysis of Financial Condition and Results of Operations 14 Item 3

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 23 Item 4

Controls and Procedures

Controls and Procedures 23 PART II Other Information Item 1A

Risk Factors

Risk Factors 23 Item 5 Other Information 23 Item 6 Exhibits 24

Signatures

Signatures 25 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) June 30, September 30, 2024 2023 Assets Current assets Cash and cash equivalents $ 62,017 $ 60,476 Investments in marketable securities, at fair value 11 10 Investment fee income receivable 2,630 2,046 Interest income receivable 255 253 Prepaid expenses 390 669 Other accounts receivable 294 247 Total current assets 65,597 63,701 Property and equipment, net of accumulated depreciation of $ 1,480 and $ 2,287 , respectively 333 305 Operating lease right-of-use asset 1,095 295 Management contracts 82,252 81,262 Other assets 183 156 Total assets $ 149,460 $ 145,719 Liabilities and Stockholders' Equity Current liabilities Accrued liabilities and accounts payable $ 2,995 $ 3,165 Operating lease liability 293 279 Income taxes payable 485 748 Total current liabilities 3,773 4,192 Notes payable, net of issuance costs 39,397 39,164 Long-term operating lease liability 781 - Net deferred income tax liability 15,346 14,611 Total liabilities 59,297 57,967 Commitments and contingencies (Note 9) Stockholders' equity Common stock, no par value, 22,500,000 shares authorized; 7,681,007 shares issued and outstanding as of June 30, 2024, and 7,671,099 as of September 30, 2023 22,607 21,800 Retained earnings 67,556 65,952 Total stockholders' equity 90,163 87,752 Total liabilities and stockholders' equity $ 149,460 $ 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 June 30, Nine Months Ended June 30, 2024 2023 2024 2023 Revenue Investment advisory fees $ 7,242 $ 5,236 $ 19,343 $ 16,325 Shareholder service fees 542 465 1,525 1,437 Total revenue 7,784 5,701 20,868 17,762 Operating expens

View Full Filing

View this 10-Q filing on SEC EDGAR