HOULIHAN LOKEY, INC.

For the period ended Sep 30, 2026. Filed Oct 30, 2026.

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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Sep 30, 2026 · Filed Oct 30, 2026

HLI$148.03-0.3%Stored close · as of Nov 10, 2026

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Contents

Consolidated Statements of Income

	Three Months Ended September 30,		Six Months Ended September 30,
(In millions, except per share data)	2026	2025	2026	2025
Revenues	$692	$660	$1,203	$1,265
Operating expenses:
Employee compensation and benefits	426	406	740	778
Acquisition related compensation and benefits	15	17	29	38
Travel, meals, and entertainment	17	15	36	35
Rent	22	18	43	36
Depreciation and amortization	10	10	18	26
Information technology and communications	19	17	38	35
Professional fees	10	10	27	22
Other operating expenses	19	16	40	36
Revaluation of acquisition contingent consideration	—	—	—	18
Total operating expenses	538	509	971	1,024
Operating income	154	151	232	241
Other (income) expense, net	(5)	(9)	(13)	(17)
Income before provision for income taxes	159	160	245	258
Provision for income taxes	49	49	57	49
Net income	110	111	188	209
Net (income) loss attributable to noncontrolling interest	(1)	—	(1)	—
Net income attributable to Houlihan Lokey, Inc.	$109	$111	$187	$209
Weighted average shares of common stock outstanding:
Basic	66.6	67.0	66.6	66.6
Fully diluted	67.0	68.6	67.3	68.8
Earnings per common share (Note 12)
Basic	$1.64	$1.67	$2.81	$3.14
Fully diluted	$1.64	$1.63	$2.78	$3.04

ContentsView on SEC.gov

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