Hamilton Lane INC
For the period ended Sep 30, 2026. Filed Nov 3, 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 Nov 3, 2026
HLNE$96.38+0.5%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows for the
Condensed Consolidated Statements of Cash Flows
| Six Months EndedSeptember 30, | ||
|---|---|---|
| 2026 | 2025 | |
| Operating activities: | ||
| Net income | $273,804 | $180,673 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Depreciation and amortization | 4,945 | 5,047 |
| Change in deferred income taxes | 20,225 | 15,094 |
| Change in payable to related parties pursuant to tax receivable agreement | 96 | — |
| Equity-based compensation | 26,639 | 25,188 |
| Equity‑based consideration payable to customer | 563 | — |
| Change in customer incentive asset | 2,009 | — |
| Equity in income of investees | (26,914) | (29,508) |
| Net realized loss on sale of investments | 391 | — |
| Fair value adjustment of other investments | (15,606) | (413) |
| Proceeds received from Funds | 17,011 | 17,266 |
| Non-cash lease expense | 7,361 | 4,879 |
| Other | 280 | 642 |
| Changes in operating assets and liabilities: | ||
| Fees receivable | (38,321) | 43,312 |
| Prepaid expenses | 426 | (6,211) |
| Due from related parties | (3,885) | (9,166) |
| Other assets | (3,915) | 858 |
| Accounts payable | 3,329 | 611 |
| Accrued compensation and benefits | 14,531 | 35,701 |
| Lease liability | (4,862) | (4,628) |
| Other liabilities | (1,350) | (9,518) |
| Consolidated Funds and Partnerships: | ||
| Cash relinquished from deconsolidation of Fund | (99,426) | — |
| Net gain on investments | (69,745) | (25,857) |
| Equity in income of investees | (1,724) | (1,421) |
| Change in other assets and liabilities | (637) | 5,281 |
| Net cash provided by operating activities | $105,225 | $247,830 |
Condensed Consolidated Statements of Cash Flows
| Six Months EndedSeptember 30, | ||
|---|---|---|
| 2026 | 2025 | |
| Investing activities: | ||
| Purchase of furniture, fixtures and equipment | $(7,075) | $(2,430) |
| Purchase of investments and convertible notes | — | (5,000) |
| Distributions received from Funds | 27,037 | 4,631 |
| Contributions to Funds | (109,822) | (32,277) |
| Consolidated Funds and Partnerships: | ||
| Purchase of investments | (303,408) | (192,840) |
| Distributions received from investments | 22,653 | — |
| Net cash used in investing activities | $(370,615) | $(227,916) |
| Financing activities: | ||
| Proceeds from offering | $— | $55,484 |
| Purchase of membership interests | — | (55,484) |
| Repayments of long-term debt | (10,000) | (5,000) |
| Shares repurchased and retired | (50,000) | — |
| Repurchase of Class A common stock for employee tax withholding | (1,162) | (842) |
| Proceeds received from issuance of shares under Employee Share Purchase Plan | 1,576 | 1,572 |
| Payments to related parties, pursuant to tax receivable agreement | (15,951) | (12,000) |
| Dividends paid | (47,212) | (42,575) |
| Members’ distributions paid | (30,444) | (33,195) |
| Consolidated Funds and Partnerships: | ||
| Borrowings of Bridge facility | 145,000 | — |
| Contributions from non-controlling interests in Consolidated Funds and Partnerships | 250,743 | 122,095 |
| Distributions to non-controlling interests in Consolidated Funds and Partnerships | (626) | (332) |
| Net cash provided by financing activities | $241,924 | $29,723 |
| Effect of exchange rate changes on cash and cash equivalents | (477) | 1,111 |
| (Decrease) increase in cash and cash equivalents, restricted cash, and cash and cash equivalents held at Consolidated Funds and Partnerships | (23,943) | 50,748 |
| Cash and cash equivalents, restricted cash, and cash and cash equivalents held at Consolidated Funds and Partnerships at beginning of the period | 371,904 | 283,604 |
| Cash and cash equivalents, restricted cash, and cash and cash equivalents held at Consolidated Funds and Partnerships at end of the period | $347,961 | $334,352 |
| Reconciliation of Cash and Cash Equivalents, Restricted Cash and Cash and Cash Equivalents Held at Consolidated Funds and Partnerships to the Condensed Consolidated Balance Sheets: | ||
|---|---|---|
| As of September 30, | ||
| 2026 | 2025 | |
| Cash and cash equivalents | $336,187 | $240,773 |
| Restricted cash | 8,264 | 7,796 |
| Cash and cash equivalents held at Consolidated Funds and Partnerships | 3,510 | 85,783 |
| Total cash and cash equivalents, restricted cash, and cash and cash equivalents held at Consolidated Funds and Partnerships | $347,961 | $334,352 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.