Hamilton Lane INC

HLNE

NasdaqMid CapFinancials

13F Pro Quality Score

71.0/100

Rank #205 of 2,961 stocksTOP 10%

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Rankings refresh quarterly once 80% of peers have filed (~45 days after quarter-end). Next update: ~Nov 14, 2026.

Revenue Growth

75.7/100

Profitability

86.2/100

Balance Sheet

86.6/100

Earnings Quality

71.2/100

Free Cash Flow

92.2/100

Institutional Flow

88.8/100

Revenue Scale

47.3/100

Dilution Risk

21.1/100

Price Chart

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What's Driving HLNE's Business? Latest 10-Q Breakdown

39/39 datapoints verified

AI-extracted from the 10-Q filed 2026-08-04 — Q1 FY2027 (quarter ended June 30, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.

Total revenue rose $99.4M to $275.3M as incentive fees nearly tripled to $114.0M on evergreen-related carry, lifting EPS to $1.93 diluted.

Biggest Revenue Drivers

Management and advisory fees$161.4M+$27.7M YoY

Specialized funds revenue up $26.1M, driven by evergreen funds and the latest direct equity fund

Incentive fees$114.0M+$71.7M YoY

Due primarily to an increase in evergreen-related incentive fees

Biggest Revenue Drivers

Total revenue: $275.3M+$99.4M vs. prior-year quarter

Management and advisory fees$161.4M+$27.7M YoY

Specialized funds revenue up $26.1M, driven by evergreen funds and the latest direct equity fund

Within Management and advisory fees

Specialized funds management fees$108.8M+$26.1M YoY

$19.6M increase from evergreen funds and $3.8M from latest direct equity fund, adding $6.7B and $0.9B of fee-earning AUM

Customized separate account management fees$34.7M+$0.1M YoY

Driven by a net increase in fee-earning AUM

Incentive fees$114.0M+$71.7M YoY

Due primarily to an increase in evergreen-related incentive fees

Within Incentive fees

Specialized funds incentive fees$107.6M+$69.3M YoY

Largest Expense Items

Base compensation and benefits$83.3M+$29.8M YoY

Higher annual bonus plan accrual on stronger operating performance plus added headcount

General, administrative and other$38.2M+$9.3M YoY

Fund reimbursement expense up $3.0M and consulting/professional fees up $5.3M

Equity-based compensation$12.9M+$0.1M YoY

Incentive fee compensation$11.4M+$8.2M YoY

Increase in carried interest revenue versus the prior year period

Margins: Fee Related Earnings rose to $124.5M from $83.7M and Adjusted EBITDA to $154.2M from $95.8M, as revenue growth of $99.4M outpaced the $47.4M expense increase.

Watch Items from the Filing

Incentive fees, described as volatile and largely unpredictable in amount and timing, were $114.0M — 41% of total revenue this quarter versus $42.3M a year ago.
A Consolidated Fund drew $145.0M under a $250.0M Bridge Facility; HLA guarantees payment up to $250.0M, with $105.0M undrawn capacity.
Unrecognized carried interest subject to contingencies fell to $1,450.5M from $1,546.4M at March 31, 2026, with $362.6M potentially payable to employees and third parties.
A hypothetical 10% decrease in the NAV-based fee base would reduce management fee revenue by approximately $25.7M over the next 12 months.
Fee-earning AUM grew $2.2B to $83.7B, with specialized fund contributions of $2.4B including $1.2B from evergreen funds; distributions of $1.1B included redemptions from two evergreen funds.

AI-extracted and verified against SEC EDGAR filing text. Not investment advice.

Read the full 10-Q on SEC EDGAR →