HMH Holding Inc — Form 8-K
Filed August 5, 2026 · analyzed by the 8-K Agent
8-K
— Neutral
significance 45/100
What the filing says
HMH Holding Inc. reported Q2 2026 revenue of $170.8M (down 16% YoY, flat QoQ) and net income of $5.0M (down from $8.9M YoY), impacted by a $22.0M pre-IPO stock-based compensation charge. The company completed its IPO on April 2, 2026, raising $197.8M in net proceeds (10.52M shares at $20/share), plus $12.9M from partial underwriter overallotment exercise on May 5, 2026. IPO proceeds were used to purchase $39.5M of B.V. voting shares from principal stockholders (Baker Hughes Holdings LLC and Akastor AS) and repay $137.1M of shareholder debt. Orders grew 19% YoY to $205M (1.2x book-to-bill), Adjusted EBITDA was $33.9M (up 3% YoY, 19.8% margin), and Free Cash Flow was positive at $22.2M.
Why this rating
IPO is transformational structurally but capital raised (~$210M) is ~15% of company size ($1.36B assets). Revenue decline and margin pressure offset by improved orders; routine quarterly results post-IPO.
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