Company: HLI
Filing Date: 2025-02-04
Form Type: 10-Q
Source: 0001302215-25-000007
Chunk: 124

Company: HOULIHAN LOKEY, INC.
Filing Date: 2025-02-04
Form: 10-Q
Item: Part I, Item 2
Chunk 124
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 December 31, 2024 versus December 31, 2023

Revenues for FVA were $81.9 million for the three months ended December 31, 2024, compared with $72.1 million for the three months ended December 31, 2023, representing an increase of 14%. Revenues increased due to an increase in the number of Fee Events and an increase in the average fee per Fee Event, driven by improvements in the M&A markets, which impacted one or more of the service lines within our FVA business.

Segment profit for FVA was $23.3 million for the three months ended December 31, 2024, compared with $14.3 million for the three months ended December 31, 2023, an increase of 63%. Profitability increased primarily as a result of an increase in revenues and lower compensation and non-compensation expenses as a percentage of revenues when compared to the same quarter last year.

Nine Months Ended December 31, 2024 versus December 31, 2023

Revenues for FVA were $229.0 million for the nine months ended December 31, 2024, compared with $208.1 million for the nine months ended December 31, 2023, representing an increase of 10%. The increase in revenues was primarily due to an increase in the number of Fee Events, driven by improvements in the M&A markets, which impacted one or more of the service lines within our FVA business.

Segment profit for FVA was $60.4 million for the nine months ended December 31, 2024, compared with $48.8 million for the nine months ended December 31, 2023, an increase of 24%. Profitability increased primarily as a result of increased revenues and a decrease in non-compensation expenses when compared to the same period last year.

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Corporate Expenses

Three Months Ended December 31, 2024 versus December 31, 2023

Corporate expenses were $63.0 million for the three months ended December 31, 2024, compared with $54.3 million for the three months ended December 31, 2023. This 16% increase was driven primarily by increased compensation expense, partially offset by a reduction in other operating expense when compared to the same quarter last year.

Nine Months Ended December 31, 2024 versus December 31, 2023

Corporate expenses were $183.9 million for the