Lincoln International, Inc.
For the period ended Jun 30, 2026. Filed Aug 10, 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.
Jun 30, 2026 · Filed Aug 10, 2026
LCLN$26.57-1.5%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows
| Six Months Ended June 30, | ||
|---|---|---|
| ($ in thousands) | 2026 | 2025 |
| Cash Flows from Operating Activities | ||
| Net income | $(21,026) | $57,492 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Depreciation and amortization | 38,489 | 21,556 |
| Deferred income taxes, net | (689) | (236) |
| Non-cash lease expense | 7,695 | 7,268 |
| Non-cash compensation expense | 3,207 | 1,106 |
| Other non-cash activity | (1,937) | 1,088 |
| Liquidity Event share awards (Note 19) | 28,679 | — |
| Changes in operating assets and liabilities: | ||
| Accounts receivable, net | 56,836 | 30,587 |
| Related-party receivables | 22,218 | (5,439) |
| Prepaid expenses | (293) | (1,466) |
| Income tax receivable | 784 | (263) |
| Other assets | (1,119) | (1,479) |
| Accounts payable and accrued expenses | (11,747) | (7,013) |
| Compensation payable | (8,996) | (15,666) |
| Deferred revenue | 591 | 576 |
| Lease liability | (9,397) | (8,317) |
| Net cash provided by operating activities | 103,295 | 79,794 |
| Cash Flows from Investing Activities | ||
| Purchases of property and equipment, net | (2,485) | (3,749) |
| Net cash used in investing activities | (2,485) | (3,749) |
| Cash Flows from Financing Activities | ||
| IPO proceeds less underwriter discount | 451,528 | — |
| Distributions of IPO proceeds to partners | (254,493) | — |
| Pre-offering distribution to partners | (70,626) | — |
| Distributions to partners | (130,533) | (118,855) |
| Contributions and other | 11,735 | 2,438 |
| Payment of contingent consideration | (3,294) | — |
| Payment on long-term debt | (196,640) | — |
| Proceeds from long-term debt | 25,000 | — |
| Proceeds from line of credit | — | 25,200 |
| Repayment of line of credit | — | (12,200) |
| Net cash used in financing activities | (167,323) | (103,417) |
| Effect of exchange rate changes on cash, cash equivalents, and restricted cash | (2,900) | 6,705 |
| Net decrease in cash, cash equivalents, and restricted cash | (69,413) | (20,667) |
| Cash, cash equivalents, and restricted cash, beginning of period | 324,827 | 228,988 |
| Cash, cash equivalents, and restricted cash, end of period | $255,414 | $208,321 |
| SUPPLEMENTAL CASH FLOWS DISCLOSURE | ||
| Cash paid during the period for: | ||
| Cash paid for income taxes | $4,210 | $315 |
| Cash paid for interest | $11,061 | $— |
| Six Months Ended June 30, | ||
|---|---|---|
| Other non-cash activity | ||
| Initial establishment of deferred tax asset | $65,179 | $— |
| Establishment of liability related to tax receivable agreement | $(84,764) | $— |
| Reconciliation of Cash, cash equivalents, and restricted cash within | ||
|---|---|---|
| the Condensed Consolidated Balance Sheets | ||
| June 30, | December 31, | |
| ($ in thousands) | 2026 | 2025 |
| Cash and cash equivalents | $250,624 | $320,169 |
| Restricted cash | 4,790 | 4,658 |
| Total cash and cash equivalents and restricted cash | $255,414 | $324,827 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.