Company: HLI
Filing Date: 2025-02-04
Form Type: 10-Q
Source: 0001302215-25-000007
Chunk: 103

Company: HOULIHAN LOKEY, INC.
Filing Date: 2025-02-04
Form: 10-Q
Item: Part I, Item 8
Chunk 103
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 applicable to FVA only; a Fee Event includes any engagement that involves revenue activity during the measurement period with a revenue minimum of $1,000. References to closed transactions should be understood to be the same as transactions that are “effectively closed” as described in Note 3 of our Consolidated Financial Statements.

Corporate Finance

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

Revenues for CF were $421.6 million for the three months ended December 31, 2024, compared with $310.5 million for the three months ended December 31, 2023, representing an increase of 36%. Revenues increased due to an increase in the number of closed transactions during the quarter, which was driven by favorable market conditions for M&A and capital markets transactions when compared to the same quarter last year. This increase was partially offset by a decrease in the average transaction fee on closed transactions, which was driven by transaction mix, and does not represent a trend in the average transaction fee on closed transactions.

Segment profit for CF was $131.6 million for the three months ended December 31, 2024, compared with $93.3 million for the three months ended December 31, 2023, an increase of 41%. Profitability increased primarily as a result of an increase in revenues and lower non-compensation expenses as a percentage of revenues when compared to the same quarter last year.

29

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

Revenues for CF were $1.11 billion for the nine months ended December 31, 2024, compared with $819.2 million for the nine months ended December 31, 2023, representing an increase of 36%. Revenues increased primarily due to an increase in the number of closed transactions during the period, driven by favorable market conditions for M&A and capital markets transactions.

Segment profit for CF was $341.6 million for the nine months ended December 31, 2024, compared with $245.4 million for the nine months ended December 31, 2023, an increase of 39%. Profitability increased primarily as a result of an increase in revenues and lower non-compensation expenses as a percentage of revenues when compared to the same period last year.

Financial Restructuring

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

Revenues for FR were $130.