Company: HLI
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001302215-25-000111
Chunk: 29

Company: HOULIHAN LOKEY, INC.
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 1
Chunk 29
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 period last year.

Other (income) expense, net was $(17.0) million for the six months ended September 30, 2025, compared with $(10.6) million for the six months ended September 30, 2024. Other (income) expense, net increased primarily due to higher interest income.

The provision for income taxes for the six months ended September 30, 2025 was $48.8 million, which reflected an effective tax rate of 18.9%. The provision for income taxes for the six months ended September 30, 2024 was $53.5 million, which reflected an effective tax rate of 22.7%. The decrease in the Company’s effective tax rate was primarily a result of increased stock-based compensation deductions.

21

Business Segments

The following table presents revenues, expenses and profit from our business segments. The revenues by segment represent each segment’s revenues, and the profit by segment represents profit for each segment before corporate expenses, other (income) expense, net, and income taxes.

Three Months Ended September 30,Six Months Ended September 30,($ in thousands)20252024Change20252024ChangeRevenues by segmentCorporate Finance$438,661 $364,028 21 %$837,180 $692,445 21 %Financial Restructuring 133,803 131,568 2 %262,019 248,990 5 %Financial and Valuation Advisory86,988 79,361 10 %165,602 147,131 13 %Revenues$659,452 $574,957 15 %$1,264,801 $1,088,566 16 %Segment profit (1)Corporate Finance$147,330 $109,655 34 %$274,111 $210,077 30 %Financial Restructuring 50,100 60,919 (18)%93,744 100,068 (6)%Financial and Valuation Advisory25,409 19,389 31 %42,738 37,030 15 %Total segment profit 222,839 189,963 17 %410,593 347,175 18 %Corporate expenses (2)71,498 59,294 21 %169,452 121,766 39 %Other (income) expense, net(8,712)(5