Wright Investors Service Holdings, Inc.
For the period ended Dec 31, 2025. Filed Mar 30, 2026.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2025 · Filed Mar 30, 2026
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What changed in Management’s Discussion and Analysis?
Read the current filingPrevious report: 10-K
Period ended 2024-12-31; filed 2025-03-27.
0001214659-25-004885
Item 7. Management’s Discussion and Analysis of Financial Condition and Results of OperationsCurrent report: 10-K
Period ended 2025-12-31; filed 2026-03-30.
0001214659-26-003984
Item 7. Management’s Discussion and Analysis of Financial Condition and Results of OperationsThe baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
Compared 33 previous paragraphs and 31 current paragraphs.
19 unchanged; 7 reworded; 5 added; 7 removed; 0 previous and 0 current paragraphs rearranged.
Tables are not compared: 0 previous and 0 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.
A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.
Added paragraphs (5)
Current report
Compensation and benefits
Current report
For the year ended December 31, 2025, Compensation and benefits were $462,000 compared to $452,000 for the year ended December 31, 2024. The increased Compensation and benefits of $10,000 was the result of increased payroll benefits.
Current report
Interest and other income, net
Current report
The Company’s recurring operating losses and negative cash flows from operations for the fiscal year ended December 31, 2025, raise substantial doubt about its ability to continue as a going concern for the one-year period from the date of filing of this Form 10-K.
Current report
Based on the Company’s current cash and investment balances and projected cash burn, Management has implemented, or is in the process of implementing, operational cost reductions to decrease cash outflows and extend the Company's liquidity runway.
Removed paragraphs (7)
Previous report
Certain of our accounting policies require higher degrees of judgment than others in their application. These include accounting for income taxes and fair value measurements of investments which are summarized below.
Previous report
Fair value measurements
Previous report
Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. A three-level fair value hierarchy is required to prioritize the inputs used to measure fair value. The three levels of the fair value hierarchy are described as follows:
Previous report
Level 1 – Unadjusted quoted prices in active markets for identical assets or liabilities.
Previous report
Level 2 – Inputs other than quoted market prices that are observable, either directly or indirectly, and reasonably available. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability and are developed based on market data obtained from sources independent of the Company.
Previous report
Level 3 – Unobservable inputs. Unobservable inputs reflect the assumptions that the Company develops based on available information about what market participants would use in valuing the asset or liability.
Previous report
Interest and other income
Reworded paragraphs (7)
Previous wording
The Company’s Board of Directors is considering strategic uses for its funds to develop or acquire interests in one or more operating businesses. While the Company has focused its development or acquisition efforts on sectors in which its management has expertise, the Company does not wish to limit itself to, or to foreclose any opportunities in, any particular industry or sector. Prior to this use, the Company’ anticipate will continue to be, invested in high-grade, short-term investments (such as cash and cash equivalents, U.S. Treasury Bills, and mutual funds) consistent with the preservation of principal, maintenance of liquidity and avoidance of speculation, until such time as the Company needs to utilize such funds, or any portion thereof, for the purposes described above. The directors will also consider alternatives for distributing some or all of its cash and cash equivalents, and investments to stockholders (see Note 1 to the Consolidated Financial Statements).
Current wording
The Company’s Board of Directors continues to evaluate possible strategic uses for its funds to develop or acquire interests in one or more operating businesses. Prior to this use, the Company will continue to be invested in high-grade, short-term investments (such as cash and cash equivalents and money market mutual funds) consistent with the preservation of principal, maintenance of liquidity and avoidance of speculation. The directors will also consider alternatives for distributing some or all of its cash and cash equivalents, and investments to stockholders (see Note 1 to the Consolidated Financial Statements).
Previous wording
For the year ended December 31, 2024, the Company had a net loss of $920,000 compared to a net loss of $1,006,000 for the year ended December 31, 2023.
Current wording
For the year ended December 31, 2025, the Company had a net loss of $1,024,000 compared to a net loss of $920,000 for the year ended December 31, 2024.
Previous wording
The decreased loss of $86,000 was primarily the result of a decrease in Other operating expenses of $87,000, a decrease in Compensation and benefits of $6,000, and an decrease in Interest and other income of $7,000.
Current wording
The increased loss of $104,000 was primarily the result of an increase in Compensation and benefits of $10,000, increase in Other operating expenses of $7,000, and a decrease in Interest and other income, net of $87,000.
Previous wording
For the year ended December 31, 2024, Other operating expenses were $627,000 as compared to $714,000 for the year ended December 31, 2023. The decreased operating expenses of $87,000 were primarily the result of decreased fees related to the repair and maintenance of Company owned dam properties of $71,000, decreased travel and entertainment expenses of $26,000, and decreased other expenses of $11,000, offset by increased professional fees of $21,000. The dam properties were fully impaired as of December 31, 2018.
Current wording
For the year ended December 31, 2025, Other operating expenses were $634,000 as compared to $627,000 for the year ended December 31, 2024. The increased operating expenses of $7,000 were primarily the result of decreased travel and entertainment expenses of $39,000, decreased professional fees of $11,000, offset by increased fees related to the repair and maintenance of Company owned dam properties of $52,000, and increased other expenses of $5,000. The dam properties were fully impaired as of December 31, 2018.
Previous wording
For the year ended December 31, 2024, Interest and other income was $159,000 as compared to $166,000 for the year ended December 31, 2023. The decreased interest and other income, including net realized gains and losses on U.S. Treasury bills, of $7,000 was primarily the result of the lower yields related to the investments in U.S. Treasury securities and mutual funds and lower balances of such investments during the year ended December 31, 2024.
Current wording
For the year ended December 31, 2025, Interest and other income, net was $72,000 as compared to $159,000 for the year ended December 31, 2024. The decreased interest and other income, net of $87,000 was primarily the result of the lower yields related to the investments in money market mutual funds and lower balances of such investments.
Previous wording
At December 31, 2024, the Company had cash and cash equivalents totaling $1,440,000 which includes U.S. government debt securities of $705,000, and short-term investments in mutual funds totaling $914,000 which it intends to use to acquire interests in one or more operating businesses and to fund the Company’s general and administrative expenses. The directors will also consider alternatives for distributing some or all of its cash and cash equivalents and investments to stockholders. The Company believes that its working capital is sufficient to support its operating requirements through March 31, 2026.
Current wording
At December 31, 2025, the Company had cash and cash equivalents totaling $33,000 and short-term investments in money market mutual funds totaling $1,267,000 which it intends to use to acquire interests in one or more operating businesses, continue to evaluate possible strategic options, and to fund the Company’s general and administrative expenses. The directors will also consider alternatives for distributing some or all of its cash and cash equivalents and investments to stockholders. The Company acknowledges that its working capital may not be sufficient to support its operating requirements through March 31, 2027.
Previous wording
The increase in cash and cash equivalents of $1,315,000 for the year ended December 31, 2024 was primarily the result of $938,000 used in operating activities and proceeds from redemptions of investments in U.S. Treasury Bills and mutual funds of $4,257,000, offset by the purchase of mutual funds of $2,004,000.
Current wording
The decrease in cash and cash equivalents of $1,407,000 for the year ended December 31, 2025 was primarily the result of $1,054,000 used in operating activities and proceeds from redemptions of investments in money market mutual funds of $248,000, offset by the purchase of money market mutual funds of $601,000.