Company: HLI
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001302215-25-000111
Chunk: 23

Company: HOULIHAN LOKEY, INC.
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 1
Chunk 23
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 stated)

Three Months Ended September 30,Six Months Ended September 30,2025202420252024Income before provision for income taxes by geographyUnited States$98,599 $90,506 $160,392 $151,564 International61,454 45,582 97,711 84,398 Income before provision for income taxes$160,053 $136,088 $258,103 $235,962 Three Months Ended September 30,Six Months Ended September 30,2025202420252024Revenues by geographyUnited States$435,658 $435,322 $858,078 $801,881 International223,794 139,635 406,723 286,685 Revenues$659,452 $574,957 $1,264,801 $1,088,566 September 30, 2025March 31, 2025Assets by geographyUnited States$2,323,008 $2,439,032 International1,470,3571,380,676Total assets$3,793,365 $3,819,708 

Note 18 — Subsequent Events

On October 23, 2025, the Company's board of directors declared a quarterly cash dividend of $0.60 per share of Class A and Class B common stock, payable on December 15, 2025, to stockholders of record as of the close of business on December 1, 2025.

18

Table of Contents

Item 2.    Management’s Discussion and Analysis of Financial Condition and Results of Operations

Forward-Looking Statements

The following discussion should be read together with our consolidated financial statements and the related notes that appear elsewhere in this Quarterly Report on Form 10-Q. We make statements in this discussion that are forward-looking statements. In some cases, you can identify these statements by forward-looking words such as “may,” “might,” “will,” “should,” “expects,” “plans,” “anticipates,” “could,” “targets,” “projects,” “contemplates,” “believes,” “estimates,” “intends,” “predicts,” “potential” or “continue,” the negative of these terms or other similar expressions. These forward-looking statements, which are subject to risks, uncertainties, and assumptions about us, may include projections of our future financial performance, based on our growth strategies and anticipated trends