Horizon Kinetics Holding Corporation (HKHC) Earnings Call Transcripts

Horizon Kinetics Holding Corporation's Latest Earnings Call - Q1 FY2026

In the first quarter of 2026, Horizon Kinetics Holding Corporation (HKHC) reported GAAP revenues of $18.3 million and net income of $72.5 million, or $3.89 per share. The significant increase in assets under management (AUM) to $11.4 billion from $9.6 billion at the end of 2025 was driven by strong performance incentive fees of $18 million and a 65% appreciation in Texas Pacific Land Corp's share price. Management maintained a positive outlook, emphasizing the company's strategic investments and operational stability, while also acknowledging potential volatility in future earnings due to incentive fees and unrealized gains.

Reported metrics

Guidance from management

Management expects continued volatility in earnings due to incentive fees and unrealized gains, but remains optimistic about the long-term growth potential of their strategic investments.

What management said

Okay. Next question is related to a company called Urbana Corporation. And I think we've made in past presentations, references to Revana. So the question is really just if you can just expand on that relationship and how that entity interacts with Horizon?

That right there is an example, 1 example of the kind of strategic relationships we have, right? We're working familiarity with someone else in a given section allows us to do things we would otherwise have done. And they're very productive relationships.

What analysts pressed on

Analysts expressed concerns regarding the sustainability of incentive fees and the impact of market volatility on future earnings. There were questions about how management plans to navigate potential downturns in the cyclical business environment.

Main topics on the call

• Revenue Growth and Performance Fees — HKHC reported GAAP revenues of $18.3 million, bolstered by performance incentive fees of $18 million. CFO Mark Herndon noted, "These incentive fees were the result of certain trading restrictions expiring that were assoc...
• Increase in Assets Under Management — AUM rose to $11.4 billion, up from $9.6 billion at the end of 2025, primarily due to the strong performance of strategic investments. This increase is expected to enhance management and advisory fee revenue moving forwar...
• Impact of Texas Pacific Land Corp — The company benefited from a $36 million increase in the fair value of Texas Pacific Land Corp shares, contributing to unrealized gains. Herndon highlighted that TPL's share price appreciation was a notable contributor t...
• Operating Expenses and Loss — Total operating expenses were reported at $22.6 million, including $6.1 million related to performance fees. This led to a GAAP operating loss of $4.3 million, although adjusted operating income was $17.1 million, indica...

Read the full Horizon Kinetics Holding Corporation transcript (Q1 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 7 Horizon Kinetics Holding Corporation earnings call transcripts on record, spanning November 14, 2024 to May 19, 2026. Based on this history, Horizon Kinetics Holding Corporation reports quarterly. The most recent call on file is dated May 19, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

HKHC

Exchange

OTCPK

Country

US

Sector

Consumer Staples

Industry

Personal Care Products

Calls on record

7

First call

November 14, 2024

Most recent

May 19, 2026

Reporting cadence

quarterly