---
title: "HG Holdings 2025 10-K: Revenue $14.7M; loss before taxes $(1.07) M"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/280783142.md"
description: "HG Holdings reported a revenue of $14.736 million for 2025, an increase of $3.223 million from 2024, despite a loss before income taxes of $(1.071) million due to high operating expenses and an effective tax rate of 255.6%. Gross profit rose to $14.251 million, aided by favorable reserve development. Key highlights include a new services agreement with HP Risk, expected to generate $6 million annually, and a strategic investment in ACMAT. The company restructured its segments for better oversight and saw a modest increase in title claim reserves."
datetime: "2026-03-27T11:35:01.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/280783142.md)
  - [en](https://longbridge.com/en/news/280783142.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/280783142.md)
---

# HG Holdings 2025 10-K: Revenue $14.7M; loss before taxes $(1.07) M

HG Holdings reported total revenue of $14.736 million for the year ended 2025, up $3.223 million from 2024, while the company recorded a loss before income taxes of $(1.071) million driven by operating expenses and an unusually high effective tax rate. Gross profit improved to $14.251 million from favorable reserve development, but the effective tax rate of 255.6% materially affected net results. Management highlights include a new services agreement and a strategic investment to expand service offerings.

**Financial Highlights**

-   **Total revenue:** $14.736 million, increase of $3.223 million versus 2024, driven by higher net premium, escrow fees and management fees.
-   **Gross profit:** $14.251 million, up $3.333 million versus 2024 reflecting lower cost of revenues from favorable reserve development.
-   **Operating expenses:** $12.974 million.
-   **Loss before income taxes:** $(1.071) million.
-   **Effective tax rate:** 255.6% in 2025, significantly impacting net results.
-   **Net income / EPS:** Not provided in the source and therefore omitted.

**Business Highlights**

-   **Revenue growth drivers:** Title and management services revenue rose to $14.7 million in 2025, up $3.2 million year-over-year, led by higher affiliated title volume and new services fees.
-   **Major channel expansion:** Management services expanded under a June 1, 2025 Services Agreement with HP Risk, which contributed approximately $2.0 million in fees in 2025 and is expected to contribute about $6.0 million per year prospectively.
-   **Strategic investment:** Completed a noncash acquisition providing ~39.1% economic interest in ACMAT (closed June 30, 2025) and recorded a $12.5 million investment to broaden service offerings.
-   **Organizational change:** Reportable segments were restructured effective January 1, 2025 to two segments: Title Insurance and Corporate & Other, consolidating prior segments for streamlined oversight.
-   **Claims and reserves:** Title claim reserves modestly increased to $705,000 with favorable prior-year development and improved reserve adequacy per actuarial central estimates.

Original SEC Filing: HG Holdings, Inc. \[ STLY \] - 10-K - Mar. 27, 2026

**Disclaimer**

This is an AI-powered summary. It may contain inaccuracies. Consider verifying important information with the source. Please note this summary is solely based on documents filed with the SEC.

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