Hennessy Advisors, Inc. (HNNA) Income Statement
HNNA FY2025 at a glance
Fiscal year ended September 30, 2025 · U.S. dollarsHNNA revenue and net income
Where HNNA's revenue goes
FY2025Each bar shows an amount and its share of revenue. HNNA kept 28.0% of revenue as net income.
HNNA profit margins
HNNA growth rates
to FY2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +19.9% | +6.2% | +1.3% | −2.3% |
| Gross profit | +21.0% | +5.3% | +0.3% | −0.2% |
| Operating income | +48.2% | +10.1% | +3.0% | −4.0% |
| Net income | +40.3% | +17.2% | +4.9% | −1.3% |
| EPS (diluted) | +37.0% | +15.9% | +3.5% | −0.2% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
HNNA quarterly EPS vs estimates
Hennessy Advisors beat the analyst EPS estimate in 4 of the last 4 quarters. Next report: December 2, 2026.
HNNA income statement
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $35.5M | $29.6M | $24.0M | $29.7M | $32.8M | $33.4M | $42.7M | $54.6M | $53.0M | $51.4M |
| Cost of revenue | $10.6M | $9.1M | $12.0M | $8.3M | $9.1M | $8.8M | $20.7M | $24.0M | $22.4M | $21.5M |
| Gross profit | $24.9M | $20.6M | $12.0M | $21.3M | $23.7M | $24.6M | $22.0M | $30.6M | $30.6M | $29.9M |
| Research & development | — | — | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Sales, general & admin | $6.3M | $7.0M | $5.5M | $11.3M | $12.6M | $13.0M | $5.8M | $5.9M | $6.2M | $5.8M |
| Total operating expenses | $11.8M | $11.7M | $5.7M | $11.5M | $12.8M | $13.2M | $6.0M | $6.1M | $6.1M | $6.2M |
| Operating income | $13.1M | $8.9M | $6.3M | $9.8M | $10.9M | $11.3M | $16.0M | $24.5M | $24.5M | $23.8M |
| Interest income | $2.8M | $3.1M | $2.5M | $229,000 | — | — | $1.1M | $1.2M | $1.3M | $1.2M |
| Interest expense | $2.3M | $2.3M | $2.3M | $2.1M | $0 | $447,000 | $1.1M | $1.2M | $1.3M | $1.2M |
| Income before taxes | $13.6M | $9.7M | $6.6M | $7.9M | $10.9M | $11.0M | $15.3M | $23.4M | $23.2M | $22.6M |
| Income taxes | $3.7M | $2.6M | $1.8M | $1.8M | $3.0M | $3.1M | $4.2M | $2.8M | $8.3M | $8.2M |
| Net income | $10.0M | $7.1M | $4.8M | $6.2M | $7.9M | $7.8M | $11.0M | $20.6M | $14.9M | $14.4M |
| EBITDA | $13.4M | $9.1M | $6.6M | $10.0M | $11.1M | $11.6M | $16.6M | $24.9M | $24.7M | $24.1M |
| EPS (diluted) | $1.26 | $0.92 | $0.63 | $0.81 | $1.07 | $1.06 | $1.42 | $2.61 | $1.95 | $1.86 |
| Gross margin | 70.1% | 69.4% | 50.1% | 71.9% | 72.3% | 73.6% | 51.6% | 56.0% | 57.8% | 58.3% |
| Operating margin | 37.0% | 29.9% | 26.4% | 33.2% | 33.2% | 33.9% | 37.5% | 44.8% | 46.3% | 46.3% |
| Net margin | 28.0% | 23.9% | 19.9% | 20.9% | 24.1% | 23.5% | 25.8% | 37.8% | 28.2% | 27.9% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $8.4M | $8.1M | $8.3M | $8.5M | $8.1M | $9.3M | $9.7M | $8.8M | $7.8M | $6.9M | $6.1M | $6.3M |
| Cost of revenue | $2.6M | $1.4M | $2.5M | $1.3M | $2.5M | $2.7M | $4.2M | $4.0M | $3.6M | $3.5M | $2.9M | $3.1M |
| Gross profit | $5.8M | $6.7M | $5.8M | $7.2M | $5.5M | $6.6M | $5.5M | $4.7M | $4.2M | $3.4M | $3.2M | $3.2M |
| Sales, general & admin | $1.6M | $1.6M | $1.9M | $1.4M | $1.4M | $1.8M | $1.7M | $1.7M | $1.6M | $1.5M | $1.7M | $1.3M |
| Total operating expenses | $2.9M | $4.1M | $3.2M | $4.2M | $2.7M | $3.2M | $1.7M | $1.8M | $1.6M | $1.5M | $1.8M | $1.4M |
| Operating income | $2.9M | $2.6M | $2.6M | $3.0M | $2.8M | $3.5M | $3.8M | $2.9M | $2.6M | $1.9M | $1.4M | $1.8M |
| Interest income | $622,000 | $614,000 | $651,000 | $696,000 | $686,000 | $677,000 | $709,000 | $783,000 | $772,000 | $771,000 | $786,000 | $764,000 |
| Interest expense | $760,000 | $578,000 | $576,000 | $575,000 | $574,000 | $572,000 | $572,000 | $571,000 | $569,000 | $568,000 | $567,000 | $566,000 |
| Income before taxes | $2.8M | $2.6M | $2.7M | $3.1M | $3.0M | $3.6M | $4.0M | $3.1M | $2.8M | $2.1M | $1.6M | $2.0M |
| Income taxes | $776,000 | $736,000 | $749,000 | $714,000 | $840,000 | $973,000 | $1.1M | $822,000 | $759,000 | $582,000 | $444,000 | $612,000 |
| Net income | $2.0M | $1.9M | $1.9M | $2.4M | $2.1M | $2.6M | $2.8M | $2.3M | $2.0M | $1.5M | $1.2M | $1.3M |
| EBITDA | $3.0M | $3.3M | $2.7M | $3.1M | $2.9M | $3.5M | $4.6M | $3.8M | $3.4M | $2.7M | $2.3M | $2.6M |
| EPS (diluted) | $0.25 | $0.24 | $0.24 | $0.31 | $0.26 | $0.33 | $0.36 | $0.30 | $0.26 | $0.20 | $0.16 | $0.18 |
| Gross margin | 69.6% | 82.7% | 70.3% | 84.9% | 68.9% | 71.2% | 57.1% | 54.0% | 54.0% | 49.6% | 52.4% | 50.4% |
| Operating margin | 34.7% | 32.1% | 31.3% | 35.5% | 35.4% | 37.2% | 39.5% | 33.5% | 33.2% | 27.7% | 23.2% | 28.0% |
| Net margin | 23.8% | 23.5% | 23.2% | 28.5% | 26.3% | 27.8% | 29.2% | 26.5% | 26.1% | 22.2% | 19.5% | 21.4% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in HNNA's financial statements (latest annual report filed December 3, 2025); data from EODHD. Sales, general & administrative expenses include sales and marketing.
HNNA financial results
In fiscal year 2025 (ended September 30, 2025), Hennessy Advisors reported revenue of $35.5 million, up 19.9% from the year before. It had net income of $10.0 million (up 40.3%), a net profit margin of 28.0%. Diluted earnings per share came to $1.26. Over five years revenue grew at an average rate of 1.3% a year.
See the HNNA stock overview for the latest quote and news, or the HNNA chart for price history and technical indicators.
HNNA income statement FAQ
What is Hennessy Advisors's annual revenue?
Hennessy Advisors reported total revenue of $35.5 million for fiscal year 2025, which ended on September 30, 2025. That was up 19.9% from $29.6 million the previous year.
Is Hennessy Advisors profitable?
Yes. Hennessy Advisors reported net income of $10.0 million in fiscal 2025, a net profit margin of 28.0%; its operating margin was 37.0%.
What is Hennessy Advisors's gross margin?
Hennessy Advisors's gross margin was 70.1% in fiscal 2025: for every $100 of revenue, Hennessy Advisors kept $70 after the direct cost of its products and services.
How fast is Hennessy Advisors growing?
Revenue grew 1.3% a year on average over the last five fiscal years, from $33.4 million to $35.5 million.
What are Hennessy Advisors's earnings per share?
Hennessy Advisors earned $1.26 per diluted share in fiscal 2025, compared with $0.92 a year earlier.
When will Hennessy Advisors report its next earnings?
Hennessy Advisors is expected to report results for the quarter ending September 30, 2026 on December 2, 2026.
When does Hennessy Advisors's fiscal year end?
Hennessy Advisors's fiscal year ends in September. The latest annual report covers the year ended September 30, 2025 and was filed on December 3, 2025.