Company: HLI
Filing Date: 2025-02-04
Form Type: 10-Q
Source: 0001302215-25-000007
Chunk: 37

Company: HOULIHAN LOKEY, INC.
Filing Date: 2025-02-04
Form: 10-Q
Item: Part I, Item 1
Chunk 37
---
%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%.

Operating expenses were $498.3 million for the three months ended December 31, 2024, compared with $414.6 million for the three months ended December 31, 2023, representing an increase of 20%. Employee compensation and benefits expense, as a component of operating expenses, was $403.0 million for the three months ended December 31, 2024, compared with $324.0 million for the three months ended December 31, 2023, representing an increase of 24%. The increase in employee compensation and benefits expense was primarily a result of an increase in revenues for the quarter when compared with the same quarter last year. The Compensation Ratio was 63.5% for the three months ended December 31, 2024, compared with 63.4% for the three months ended December 31, 2023. Non-compensation expense, as a component of operating expenses, was $95.4 million for the three months ended December 31, 2024, compared with $90.6