Company: HLI
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001302215-25-000092
Chunk: 4

Company: HOULIHAN LOKEY, INC.
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 1
Chunk 4
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131,630)(64,511)Cash flows from investing activities:Purchases of investment securities(153,089)(1,486)Sales or maturities of investment securities276,647 4,021 Acquisition of business, net of cash acquired (725)(32,095)Purchase of property and equipment, net(13,185)(10,872)Net cash provided by/(used in) investing activities109,648 (40,432)Cash flows from financing activities:Dividends paid(52,476)(51,270)Share repurchases(7,811)(240)Payments to settle employee tax obligations on share-based awards(137,051)(100,993)Earnouts paid— (9,706)Other financing activities710 710 Net cash used in financing activities(196,628)(161,499)Effects of exchange rate changes on cash, cash equivalents, and restricted cash41,427 (5,096)Net decrease in cash, cash equivalents, and restricted cash(177,183)(271,538)Cash, cash equivalents, and restricted cash – beginning of period975,579 721,854 Cash, cash equivalents, and restricted cash – end of period$798,396 $450,316 Supplemental disclosures of non-cash activities:Shares issued via vesting of liability classified awards$3,049 $5,953 Shares issued as consideration for acquisition— 12,489 Cash acquired through acquisitions$— $2,170 Cash paid during the period:Interest$230 $301 Taxes, net of refunds11,071 17,216 

See accompanying Notes to Consolidated Financial Statements4

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

Note 1 — Background

Houlihan Lokey, Inc. is a Delaware corporation. Unless the context otherwise requires, as used in this Quarterly Report on Form 10-Q, the terms “Houlihan Lokey”, “HL, Inc.”, “the Company”, “we”, “our”, and “us”, refer to Houlihan Lokey, Inc., and, in each case, unless otherwise stated, all of its subsidiaries.  The Company controls the following primary subsidiaries:•Houlihan Lokey Capital, Inc., a California corporation