Hamilton Lane (HLNE) Q4 FY2024 earnings: revenue $177 million, up 56.6% on the year

Hamilton Lane Inc. (HLNE) reported revenue of $177 million for Q4 FY2024, the quarter ended 31 March 2024, up 56.6% on the same quarter a year earlier. Net income was $48 million, up 55.6% on the year, and diluted earnings per share $1.26. The figures are the company's own, from the 10-K it filed with the SEC on 23 May 2024.

Revenue$177 millionup 56.6%

Net income$48 millionup 55.6%

Diluted EPS$1.26

QuarterQ4 FY2024ended 31 March 2024

The quarter, against the one before and a year earlier

Line	Q4 FY2024	Q3 FY2024	A year earlier	Change on the year
Revenue	177	125	n/a	n/a
Operating income	83.9	51.4	n/a	n/a
Operating margin	47.5%	41.0%	n/a
Pre-tax income	97.2	50.3	n/a	n/a
Income tax	20.4	15.8	n/a	n/a
Effective tax rate	21.0%	31.4%	n/a
Net income	48.4	19.5	n/a	n/a
Net margin	27.4%	15.6%	n/a
Diluted EPS	$1.26	$0.51	n/a	n/a

$ million except per share.

Fourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

Line	Q4 FY2024	Q3 FY2024	A year earlier	Change on the year
Operating cash flow	21.7	-36.4	n/a	n/a
Capital expenditure	1.6	3.2	n/a	n/a
Free cash flow	20.1	-39.6	n/a	n/a
Free cash flow margin	11.4%	-31.6%	n/a
Cash from investing	-28.2	-9.0	n/a	n/a
Cash from financing	-43.3	-19.9	n/a	n/a
Depreciation and amortisation	2.4	2.0	n/a	n/a
Share-based compensation	2.9	3.3	n/a	n/a
Dividends paid	16.8	16.8	n/a	n/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q4 FY2024	Q3 FY2024	A year earlier	Change on the year
Shareholders' equity	525	468	n/a	n/a
Non-controlling interest	151	156	n/a	n/a
Debt	196	197	n/a	n/a
Other liabilities	399	388	n/a	n/a
Total liabilities and equity	1,271	1,209	n/a	n/a
Fixed assets	33.0	33.4	n/a	n/a
Goodwill	9.6	n/a	n/a	n/a
Intangible assets	4.6	n/a	n/a	n/a
Cash and equivalents	120	169	n/a	n/a
Other assets	1,104	1,006	n/a	n/a
Total assets	1,271	1,209	n/a	n/a

Quarterly results, the last 12 quarters

	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026	Q4 FY2026 *	Q1 FY2027
Revenue	127	125	177	197	150	168	198	176	191	199	194	275
Operating income	55.6	51.4	83.9	89.6	67.2	75.7	84.0	77.0	79.7	86.0	82.2	126
Operating margin	44%	41%	47%	46%	45%	45%	42%	44%	42%	43%	42%	46%
Pre-tax income	66.4	50.3	97.2	107	77.1	90.2	88.3	95.4	118	120	130	150
Tax rate	3%	31%	21%	18%	2%	14%	17%	19%	12%	23%	12%	17%
Net income	42.0	19.5	48.4	59.0	55.0	53.0	50.5	53.7	70.9	58.4	66.2	80.5
Net margin	33%	16%	27%	30%	37%	31%	26%	31%	37%	29%	34%	29%
Diluted EPS	$1.11	$0.51	$1.26	$1.47	$1.37	$1.32	$1.25	$1.28	$1.69	$1.37	$1.58	$1.93
Operating cash flow	77.6	-36.4	21.7	79.7	117	64.4	39.3	129	119	74.1	103	77.2
Capital expenditure	2.9	3.2	1.6	1.5	1.6	5.6	3.4	1.3	1.1	1.7	1.7	1.8
Free cash flow	74.7	-39.6	20.1	78.2	116	58.8	35.8	128	118	72.4	101	75.3
Dividends paid	16.8	16.8	16.8	17.6	19.5	19.5	19.5	20.2	22.3	22.6	22.6	22.5
Filing	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-K for the period ended 31 March 2024, filed 23 May 2024, accession 0001433642-24-000064: the filing on EDGAR. All of Hamilton Lane Inc.'s filings: EDGAR company page.

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