Company: HLI
Filing Date: 2025-02-04
Form Type: 10-Q
Source: 0001302215-25-000007
Chunk: 99

Company: HOULIHAN LOKEY, INC.
Filing Date: 2025-02-04
Form: 10-Q
Item: Part I, Item 8
Chunk 99
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 losses from funds and partnership interests where we have had more than a minor ownership interest or more than minor influence over operations, but do not have a controlling interest and are not the primary beneficiary, (iv) gains and/or losses associated with the reduction/increase of earnout liabilities, and (v) other miscellaneous non-operating expenses.

26

Results of Consolidated Operations 

The following is a discussion of our results of operations for the three and nine months ended December 31, 2024 and 2023. For a more detailed discussion of the factors that affected the revenues and the operating expenses of our CF, FR, and FVA business segments in these periods, see Part I, Item 2 of this Form 10-Q under the heading “Business Segments” below.

Three Months Ended December 31,Nine Months Ended December 31,($ in thousands)20242023Change20242023ChangeRevenues$634,428 $511,130 24 %$1,722,994 $1,393,948 24 %Operating expenses:Employee compensation and benefits402,971 324,039 24 %1,093,724 884,064 24 %Non-compensation95,355 90,551 5 %266,931 249,720 7 %Total operating expenses498,326 414,590 20 %1,360,655 1,133,784 20 %Operating income136,102 96,540 41 %362,339 260,164 39 %Other income, net(9,016)(6,035)49 %(18,741)(12,336)52 %Income before provision for income taxes145,118 102,575 41 %381,080 272,500 40 %Provision for income taxes49,816 31,772 57 %103,289 73,276 41 %Net income attributable to Houlihan Lokey, Inc.$95,302 $70,803 35 %$277,791 $199,224 39 %

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

Revenues were $634.4 million for the three months ended December 31, 2024, compared with $511.1 million for the three months ended December 31, 2023, representing an increase of 24%.