$WHG

WESTWOOD HOLDINGS GROUP INC

CIK:0001165002|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Realized Investment Gains (Losses)			$ (2,046)	$ 0
Gain (Loss) on Investments	$ 0		2,046
Noncontrolling Interest in Net Income (Loss) Other Noncontrolling Interests, Nonredeemable	8	$ 12	8	11
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	1,519	1,019	2,301	1,497
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	1,527	1,031	2,309	1,508
REVENUES:
Other Revenue, Net	599	96	938	188
Total revenues	25,343	23,120	50,309	46,372
EXPENSES:
Employee compensation and benefits	14,189	13,472	31,359	27,973
Sales and marketing	643	657	1,303	1,417
Westwood funds	1,082	957	1,946	1,854
Information technology	2,742	2,704	5,378	5,371
Professional services	1,812	1,486	3,958	3,099
General and administrative	2,811	2,976	5,797	5,858
Total expenses	23,279	22,252	49,741	45,572
Operating Income (Loss)	2,064	868	568	800
Net change in unrealized depreciation on private investments	0	0	(15)	0
Gain on sale of operations			559	726
Other Income	(78)	257	(78)	534
Income before income taxes	2,252	1,468	3,080	2,060
Provision for income taxes	725	437	771	552
Other comprehensive income (loss):
Total comprehensive income	$ 1,519	$ 1,019	$ 2,301	$ 1,497
Earnings per share:
Basic (dollars per share)	$ 0.18	$ 0.12	$ 0.27	$ 0.18
Diluted (dollars per share)	$ 0.17	$ 0.12	$ 0.25	$ 0.17
Weighted average shares outstanding:
Basic (shares)	8,644,321	8,404,859	8,571,739	8,329,803
Diluted (shares)	9,079,971	8,813,606	9,061,350	8,798,092
Investment Income, Investment Expense			$ 266	$ 343
Asset Management [Member]
Revenue from Contract with Customer, Including Assessed Tax	$ 19,372	$ 17,955	38,681	35,686
Fiduciary and Trust [Member]
Revenue from Contract with Customer, Including Assessed Tax	$ 5,372	$ 5,069	$ 10,690	$ 10,498

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Income (Loss) Attributable to Parent	$ 2,309	$ 1,508
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	187	257
Amortization of intangible assets	1,428	2,082
Net change in unrealized (appreciation) depreciation on investments	(1,131)	137
Realized Investment Gains (Losses)	(2,046)	0
Stock-based compensation expense	2,552	2,622
Deferred income taxes	70	(112)
Non-cash lease expense	380	694
Gain (Loss) on Disposition of Assets	16	0
Change in operating assets and liabilities:
Net (purchases) sales of trading securities	6,130	7,842
Accounts receivable	601	(878)
Other assets	96	(296)
Accounts payable and accrued liabilities	(3,140)	(1,139)
Compensation and benefits payable	(5,440)	(5,205)
Income taxes payable	(1,207)	128
Other liabilities	2,212	(795)
Payment for Contingent Consideration Liability, Operating Activities	0	(4,442)
Cash Provided by (Used in) Operating Activity, Including Discontinued Operation	3,017	2,403
Proceeds from Sale of Debt and Equity Securities, FV-NI, Held-for-investment	4,827	0
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property and equipment	(780)	(6)
Leasehold Improvements, Gross	(2,035)
Proceeds from Insurance Settlement, Investing Activities	2,525	0
Payments to Acquire Intangible Assets	(6,952)	(1,000)
Payments to Acquire Investments	0	(449)
Cash Provided by (Used in) Investing Activity, Including Discontinued Operation	(2,415)	(1,455)
CASH FLOWS FROM FINANCING ACTIVITIES:
Restricted stock returned for payment of taxes	(1,288)	(1,335)
Cash dividends paid	(2,947)	(2,856)
Cash Provided by (Used in) Financing Activity, Including Discontinued Operation	(4,235)	(4,392)
NET CHANGE IN CASH AND CASH EQUIVALENTS	(3,633)	(3,444)
Cash and cash equivalents, beginning of period	26,249	18,847
Cash and cash equivalents, end of period	22,616	15,403
SUPPLEMENTAL CASH FLOW INFORMATION:
Cash paid during the period for income taxes	1,911	535
Accrued dividends	2,597	2,430
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability	0	8,133
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	2,301	1,497
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	2,309	1,508
Payment for Contingent Consideration Liability, Financing Activities	$ 0	$ (201)

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)	Jun. 30, 2026	Dec. 31, 2025
Statement of Financial Position [Abstract]
Operating Lease, Liability, Current	$ 12,408,000	$ 10,171,000
Current Assets:
Cash and cash equivalents	22,616,000	26,249,000
Accounts receivable	16,150,000	16,751,000
Investments, at fair value (amortized cost of $18,541 and $19,923)	19,607,000	21,433,000
Other assets	7,405,000	7,501,000
Goodwill	39,501,000	39,501,000
Deferred income taxes	2,382,000	2,452,000
Operating lease right-of-use assets	9,296,000	9,676,000
Intangible assets, net	16,771,000	18,199,000
Property and equipment, net of accumulated depreciation of $8,824 and $8,952	3,147,000	536,000
Total assets	155,375,000	162,298,000
Liabilities, Current [Abstract]
Accounts payable and accrued liabilities	4,444,000	7,584,000
Dividends payable	2,597,000	2,701,000
Compensation and benefits payable	8,186,000	13,626,000
Income taxes payable	286,000	1,493,000
Total liabilities	27,921,000	35,575,000
Commitments and contingencies
Stockholders' Equity:
Common stock, $0.01 par value, authorized 25,000,000 shares, issued 12,606,270 and 12,337,758, respectively and outstanding 9,543,152 and 9,394,066, respectively	127,000	124,000
Additional paid-in capital	208,669,000	206,120,000
Treasury stock, at cost – 3,063,118 and 2,986,692 shares, respectively	(90,900,000)	(89,612,000)
Retained earnings	8,442,000	8,983,000
Total Westwood Holdings Group, Inc. stockholders’ equity	126,338,000	125,615,000
Stockholders' Equity, Total	127,454,000	126,723,000
Total liabilities and stockholders' equity	155,375,000	162,298,000
Equity Method Investments	4,195,000	4,303,000
Members' Equity Attributable to Noncontrolling Interest	1,116,000	1,108,000
Investments under fair value measurement alternative	$ 14,305,000	$ 15,697,000