Heritage Global Inc. (HGBL) Q1 2026 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:02.054 Please go ahead, your line is open. 00:00:02.054 -- 00:00:03.997 Hey 00:00:03.997 -- 00:00:06.922 guys, appreciate you taking the questions. 00:00:06.922 -- 00:00:11.950 So it seems like overall the debt market is, you have a solid positioning 00:00:11.950 -- 00:00:15.937 there. I'm just curious, I would like to hear a little bit more on the trends that you're 00:00:15.937 -- 00:00:21.385 seeing, notably in NLEX and also the DedEx 00:00:21.385 -- 00:00:24.948 business on the commercial residential side. 00:00:25.712 -- 00:00:28.364 So on the NLEX side, 00:00:28.364 -- 00:00:31.687 We have a really, really strong pipeline now. 00:00:31.687 -- 00:00:36.712 It's led by subprime auto. It changes quarter to quarter and 00:00:36.712 -- 00:00:42.117 year to year based upon everything out there and where the supply is. 00:00:42.117 -- 00:00:45.718 We still have plenty of headroom 00:00:45.940 -- 00:00:51.486 in the credit card sector. We have plenty of headroom and some new wins 00:00:51.486 -- 00:00:55.718 in the buy now, pay later sector. 00:00:55.718 -- 00:01:01.045 And we have some of our clients that are expanding the amount of assets they're giving 00:01:01.045 -- 00:01:06.192 us. So overall, I think it's a very healthy place to 00:01:06.192 -- 00:01:11.019 be right now. We're very busy on all fronts. 00:01:11.019 -- 00:01:13.001 If you said, what are we leading with right now? 00:01:13.001 -- 00:01:18.328 I think the subprime auto loans would be at least our leader 00:01:18.328 -- 00:01:23.596 over the next quarter or two of where we think there's the most expansion in 00:01:23.596 -- 00:01:28.961 But we're looking at everything there. And we're also doing some HELOC loans 00:01:28.961 -- 00:01:34.226 and a lot of diversified loans....