HENNESSY ADVISORS INC
For the period ended Sep 30, 2025. Filed Dec 3, 2025.
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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 Dec 3, 2025
HNNA$10.36+1.6%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Table of Contents
**HENNESSY ADVISORS, INC.
TABLE OF CONTENTS
| PART I | ||
|---|---|---|
| Item 1 | Business | 1 |
| Item 1A | Risk Factors | 20 |
| Item 1C | Cybersecurity | 29 |
| Item 2 | Properties | 30 |
| Item 3 | Legal Proceedings | 30 |
| Item 4 | Mine Safety Disclosures | 30 |
| Part II | ||
| Item 5 | Market for Registrant’s Common Equity, Related Stockholder Matters, and Issuer Purchases of Equity Securities | 30 |
| Item 7 | Management’s Discussion and Analysis of Financial Condition and Results of Operations | 31 |
| Item 8 | Financial Statements and Supplementary Data | 39 |
| Item 9 | Changes in and Disagreements with Accountants on Accounting and Financial Disclosure | 61 |
| Item 9A | Controls and Procedures | 62 |
| Item 9B | Other Information | 63 |
| Item 9C | Disclosure Regarding Foreign Jurisdictions that Prevent Inspections | 63 |
| Part III | ||
| Item 10 | Directors, Executive Officers, and Corporate Governance | 63 |
| Item 11 | Executive Compensation | 64 |
| Item 12 | Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters | 64 |
| Item 13 | Certain Relationships and Related Transactions, and Director Independence | 64 |
| Item 14 | Principal Accountant Fees and Services | 64 |
| Part IV | ||
| Item 15 | Exhibits and Financial Statement Schedules | 65 |
| Item 16 | Form 10‑K Summary | 67 |
| Signatures | 68 | |
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