Company: HLI
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001302215-25-000111
Chunk: 68

Company: HOULIHAN LOKEY, INC.
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 8
Chunk 68
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 and 2024, respectively. The decrease in the Company’s effective tax rate was primarily a result of increased stock-based compensation deductions.

On July 4, 2025 the One Big Beautiful Bill Act ("OBBBA") was signed into law in the U.S. The legislation has multiple effective dates, and the Company is currently evaluating the potential impact of OBBBA.

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Table of ContentsHOULIHAN LOKEY, INC. AND SUBSIDIARIESNOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)(UNAUDITED)(In thousands, except share data or as otherwise stated)

Note 13 — Earnings Per Share 

The calculations of basic and diluted earnings per share attributable to holders of shares of common stock are presented below. The determination of weighted average shares of common stock outstanding includes both the Company's Class A common stock and Class B common stock.Three Months Ended September 30,Six Months Ended September 30,2025202420252024Numerator:Net income$111,781 $93,549 $209,314 $182,489 Denominator:Weighted average shares of common stock outstanding — basic66,963,260 65,822,690 66,605,683 65,429,115 Weighted average number of incremental shares pertaining to unvested restricted stock and issuable in respect of unvested restricted stock units, as calculated using the treasury stock method1,627,771 2,599,910 2,154,860 3,021,751 Weighted average shares of common stock outstanding — diluted68,591,031 68,422,600 68,760,543 68,450,866 Basic earnings per share$1.67 $1.42 $3.14 $2.79 Diluted earnings per share$1.63 $1.37 $3.04 $2.67 

Note 14 — Employee Benefit Plans

Defined Contribution PlansThe Company sponsors a 401(k) defined contribution savings plan for its domestic employees and defined contribution retirement plans for its international employees. The Company contributed approximately $3,806 and $3,361 to these plans during the three months ended September 30, 2025 and 2024, respectively, $7,193 and $6,406 to these plans during the six months ended September 30, 2025 and 2024, respectively.Share-Based