Heritage Global Inc. (HGBL) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Please note this call has been recorded. We are standing by should you need any assistance. It is now my pleasure to turn the meeting over to Jen Belladeau. Please go ahead. Thank you and good afternoon, everyone. Before we begin, I'd like to remind everyone that this conference call contains forward-looking statements based on our current expectations and projections about future events and are subject to change based on various important factors. In light of these risks, uncertainties, and assumptions, you should not place undue reliance on these forward-looking statements, which speak only as of the date of this call. For more details on factors that could affect these expectations, please share our filings with the Securities and Exchange Commission. Now I'd like to turn the call over to Heritage Global's Chief Executive Officer, Mr. Ross Dove. Please go ahead, Ross. Welcome, everyone, and thanks for joining us today. Before I turn it over to Brian to go through the financials, I want to take a few minutes to add some color to our recent news. Closing Heritage's capital was at a point of no return where it became both obvious and necessary on multiple fronts. First, the distraction on management team, then coupled with the continued lag on collections that was not improving. Our board and many investors had weighed in for several months that all focus should now be on growing the business units that are both profitable and strong and core to our future. So honestly, it's a relief moving forward to just do that. It can be hard to fold, but I look at the great poker player, Stu Unger, and maybe he had the best advice of all. Fold to live to fold again. With that, everyone here is moving on, building the business units that are built to last. On the financial side, ...