However, the company said longer-cycle digital orders displaced some shorter-cycle repair activity during the quarter. The company said several rigs in its installed base received contract awards during the quarter, including units with significant HMH equipment packages. HMH ended the period with $120 million in cash and cash equivalents and approximately $195 million of total liquidity, including its revolving credit facility. Capital expenditures and development costs were $5.2 million, while HMH expects 2026 capital expenditures, excluding development costs, to equal about 2% of revenue. About HMH (NASDAQ:HMH)Houghton Mifflin Harcourt (HMH) is an education and learning company that produces curricular content, instructional materials, assessment tools and digital learning platforms primarily for the K–12 market.