{"url_path":"/sec/stly/10-q/2026/cover-page","section_key":"cover-page","section_title":"Cover Page","topic":"sec","document":{"doc_type":"10-Q","doc_date":"2026-05-13","source_url":"https://www.sec.gov/Archives/edgar/data/797465/0001437749-26-016530-index.html","accession_number":"0001437749-26-016530","cik":"0000797465","ticker":"STLY","issuer_name":"HG Holdings, Inc.","edgar_url":"https://www.sec.gov/Archives/edgar/data/797465/0001437749-26-016530-index.html","primary_entity_key":"0000797465","primary_entity_name":"HG Holdings, Inc."},"word_count":1014,"has_tables":true,"body_markdown":"stly20260331_10q.htm\n\n0000797465\nHG Holdings, Inc.\nfalse\n--12-31\nQ1\n2026\n\n0.01\n0.01\n1,000,000\n1,000,000\n0\n0\n0\n0\n0.02\n0.02\n7,000,000\n7,000,000\n5,046,795\n5,046,795\n5,107,035\n5,107,035\n2\n10\n1\n0\n0\n0\n1.1\n0\n2\n0\n0\n0\n1,000,000\n0\n0\n6.5\n0\n19,000\n1\n5\n1.8\n6.0\n184,000\nfalse\nfalse\nfalse\nfalse\nThe Company does not allocate its assets by segment, with the exception of Goodwill and Intangible assets.\nRepresents investments in shares of HC Series B Stock with a basis of $10.25 million. Each share of HC Series B Stock has voting rights on an as converted basis and can be converted into shares of HC Common Stock at a conversion ratio equal to $10.00 per share divided by the lesser of $9.10 per share or the fair market value per share of HC Common Stock, subject to adjustment upon the occurrence of certain events.\nLoss from these investments is included in “Income (loss) from investments in related parties, net” in the Unaudited Consolidated Statements of Operations. Since HC Realty is a REIT and not a taxable entity, the loss is not reported net of taxes.\nNet title premium written disclosed in the table above is of NCTIC only and is included as part of the \"Net premium written\" on the Unaudited Consolidated Statements of Operations.\nOther operating expense primarily consists of rent and other occupancy expenses, software and equipment expense, corporate insurance and other regulatory and professional 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of Contents](#toc)\n\n \n\n**UNITED STATES**\n\n**SECURITIES AND EXCHANGE COMMISSION**\n\n**WASHINGTON, D.C. 20549**\n\n \n\n**Form 10-Q**\n\n \n\n(Mark One)\n\n \n\n**☒**\n\n**QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934**\n\n \n\nFor the quarterly period ended March 31, 2026\n\n \n\nOR\n\n \n\n**☐**\n\n**TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934**\n\n \n\nFor the transition period from _____ to _____.\n\n \n\nCommission file number: 001-34964\n\n \n\n**HG HOLDINGS, INC.**\n\n(Exact name of registrant as specified in its charter)\n\n \n\n**Delaware**\n**54-1272589**\n\n(State or other jurisdiction of incorporation or organization)\n(I.R.S. Employer Identification No.)\n\n \n\n**6265 Old Water Oak Road, Suite 204, Tallahassee, FL 32312**\n(Address of principal executive offices, Zip Code)\n\n \n\nRegistrant’s telephone number, including area code: (850) 201-9204\n\n \n\n**Securities registered pursuant to Section 12(b) of the Act:**\n\nNone\n\n \n\n**Securities registered pursuant to Section 12(g) of the Act:**\n\nCommon Stock, par value $.02 per share\n\n \n\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐\n\n \n\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐\n\n \n\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer”, “accelerated filer”, “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.\n\n \n\nLarge accelerated filer ☐ Accelerated filer ☐ Non-accelerated filer ☒ Smaller reporting company ☒ Emerging growth company ☐\n\n \n\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐\n\n \n\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒\n\n \n\nAs of May 11, 2026, there were 5,046,795 outstanding shares of common stock of HG Holdings, Inc., par value $0.02 per share.\n\n \n\n \n\n1\n\n[Table of Contents](#toc)\n\n     \n\n \n\n \n\n**TABLE OF CONTENTS**\n\n \n\n \n\nPage\n\n[Part I – Financial Information](#p1)\n\n[3](#p1)\n\n[Item 1. Consolidated Financial Statements (Unaudited)](#i1)\n\n[3](#i1)\n\n[Consolidated Balance Sheets as of March 31, 2026 and December 31, 2025](#bs)\n\n[3](#bs)\n\n[Consolidated Statements of Operations for the three months ended March 31, 2026 and March 31, 2025](#is)\n\n[4](#is)\n\n[Consolidated Statements of Changes in Stockholders’ Equity for the three months ended March 31, 2026 and March 31, 2025](#eq)\n\n[5](#eq)\n\n[Consolidated Statements of Cash Flows for the three months ended March 31, 2026 and March 31, 2025](#cf)\n\n[6](#cf)\n\n[Notes to the Condensed Consolidated Financial Statements](#notes)\n\n[7](#notes)\n\n[Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations](#i2)\n\n[23](#i2)\n\n[Item 3. Quantitative and Qualitative Disclosures About Market Risk](#i3)\n\n[27](#i3)\n\n[Item 4. Controls and Procedures](#i4)\n\n[27](#i4)\n\n[Part II – Other Information](#p2)\n\n[28](#p2)\n\n[Item 1. Legal Proceedings](#p2i1)\n\n[28](#p2i1)\n\n[Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](#p2i2)\n\n[28](#p2i2)\n\n[Item 3. Defaults Upon Senior Securities](#p2i3)\n\n[29](#p2i3)\n\n[Item 4. Mine Safety Disclosures](#p2i4)\n\n[29](#p2i4)\n\n[Item 5. Other Information](#p2i5)\n\n[29](#p2i5)\n\n[Item 6. Exhibits](#p2i6)\n\n[30](#p2i6)\n\n[Signatures](#sigs)\n\n[31](#sigs)\n\n \n\n2\n\n[Table of Contents](#toc)\n\n \n\n \n\nPART I. FINANCIAL INFORMATION"}