Hamilton Lane INC
For the period ended Dec 31, 2023. Filed Feb 6, 2024.
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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.
Dec 31, 2023 · Filed Feb 6, 2024
HLNE$96.38+0.5%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Condensed Consolidated Statements of Income for theand
Condensed Consolidated Statements of Income
(In thousands, except per share amounts)
| Three Months Ended December 31, | Nine Months Ended December 31, | |||
|---|---|---|---|---|
| 2023 | 2022 | 2023 | 2022 | |
| Revenues | ||||
| Management and advisory fees | $113,641 | $97,355 | $328,232 | $276,182 |
| Incentive fees | 11,623 | 24,075 | 48,945 | 132,835 |
| Consolidated variable interest entities related: | ||||
| Incentive fees | — | 5,644 | — | 6,948 |
| Total revenues | 125,264 | 127,074 | 377,177 | 415,965 |
| Expenses | ||||
| Compensation and benefits | 49,706 | 45,676 | 139,738 | 158,235 |
| General, administrative and other | 24,152 | 22,717 | 74,908 | 66,066 |
| Consolidated variable interest entities related: | ||||
| General, administrative and other | 12 | 309 | 600 | 941 |
| Total expenses | 73,870 | 68,702 | 215,246 | 225,242 |
| Other income (expense) | ||||
| Equity in (loss) income of investees | (46) | 650 | 20,071 | (7,493) |
| Interest expense | (2,748) | (2,419) | (8,381) | (6,027) |
| Interest income | 1,500 | 442 | 3,536 | 839 |
| Non-operating loss | (8) | (27,960) | (989) | (11,878) |
| Consolidated variable interest entities related: | ||||
| Equity in income of investees | 240 | 389 | 660 | 1,030 |
| Unrealized gain | — | 2,087 | 3,034 | 4,333 |
| Interest expense | — | — | (6) | — |
| Interest income | — | 2,111 | 4,581 | 2,989 |
| Total other income (expense) | (1,062) | (24,700) | 22,506 | (16,207) |
| Income before income taxes | 50,332 | 33,672 | 184,437 | 174,516 |
| Income tax expense | 15,800 | 11,788 | 34,055 | 38,766 |
| Net income | 34,532 | 21,884 | 150,382 | 135,750 |
| Less: Income attributable to non-controlling interests in general partnerships | 82 | 422 | 171 | 773 |
| Less: Income attributable to non-controlling interests in Hamilton Lane Advisors, L.L.C. | 14,944 | 9,146 | 52,733 | 51,326 |
| Less: Income attributable to redeemable non-controlling interests in Hamilton Lane Alliance Holdings I, Inc. | — | 2,647 | — | 5,617 |
| Less: Income attributable to non-controlling interests in consolidated funds | — | — | 4,980 | — |
| Net income attributable to Hamilton Lane Incorporated | $19,506 | $9,669 | $92,498 | $78,034 |
| Basic earnings per share of Class A common stock | $0.52 | $0.32 | $2.45 | $2.21 |
| Diluted earnings per share of Class A common stock | $0.51 | $0.31 | $2.43 | $2.19 |
| Dividends declared per share of Class A common stock | $0.45 | $0.40 | $1.34 | $1.20 |
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