Revenue: As of FY2027 Q1, the actual value is USD 275.33 M, beating the estimate of USD 226.83 M.

EPS: As of FY2027 Q1, the actual value is USD 1.93.

EBIT: As of FY2027 Q1, the actual value is USD 150.28 M.

Revenue

Total revenues for Hamilton Lane Incorporated increased by 56% to $275,331 thousand for the three months ended June 30, 2026, up from $175,958 thousand in the prior year period. Management and advisory fees grew by 21% to $161,367 thousand from $133,696 thousand, with specialized funds management and advisory fees increasing by 32% to $108,819 thousand, while customized separate accounts remained stable at $34,690 thousand, and advisory fees decreased by -17% to $4,555 thousand. Incentive fees saw a substantial increase of 170% to $113,964 thousand from $42,262 thousand, primarily driven by evergreen funds (166% increase to $86,750 thousand), direct equity funds (388% surge to $14,906 thousand), and secondary funds (898% increase to $5,190 thousand).

Net Income and Earnings

GAAP net income for the quarter was $124,884 thousand, a 62% increase compared to $77,070 thousand in the prior year. GAAP net income attributable to Hamilton Lane Incorporated was $80,461 thousand, an increase of 50% from $53,745 thousand in the prior year period.

Expenses

Total expenses for the quarter increased by 50% to $148,860 thousand from $98,983 thousand. Compensation and benefits rose by 55% to $107,664 thousand from $69,556 thousand. General, administrative and other expenses increased by 32% to $38,207 thousand from $28,943 thousand.

Other Key Financial Metrics

Fee Related Earnings (FRE) increased by 49% to $124,453 thousand from $83,710 thousand, with the Fee Related Earnings Margin reaching 53%, up from 51% in the prior year. Adjusted net income increased by 46% to $104,567 thousand from $71,604 thousand. Adjusted EBITDA grew by 61% to $154,165 thousand from $95,839 thousand.

Operational Metrics

Assets under management (AUM) were $146 billion as of June 30, 2026, representing a 4% year-over-year increase. Fee-earning assets under management (FEAUM) reached $84 billion, an increase of 12% compared to the prior year. Assets under advisement (AUA) totaled $914,107 million, an 8% increase from the prior year. Total assets under management/advisement stood at $1,060,453 million as of June 30, 2026, an 8% increase year-over-year. Unrealized Carried Interest was $1,451 million as of June 30, 2026.

Cash Flow

Net cash provided by operating activities was $77,150 thousand for the three months ended June 30, 2026, compared to $128,932 thousand in the same period last year. Net cash used in investing activities was - $146,926 thousand, compared to - $93,807 thousand in the prior year. Net cash provided by financing activities was $47,804 thousand, compared to $3,261 thousand in the prior year.

Balance Sheet

Total assets as of June 30, 2026, were $2,538,747 thousand, up from $2,304,896 thousand as of March 31, 2026. Debt decreased to $274,199 thousand as of June 30, 2026, from $278,420 thousand as of March 31, 2026. Total equity increased to $1,692,121 thousand as of June 30, 2026, from $1,466,539 thousand as of March 31, 2026.

Outlook / Guidance

Hamilton Lane Incorporated declared a quarterly dividend of $0.60 per share of Class A common stock. The target full-year dividend is $2.40, which represents an 11% increase from the prior fiscal year dividend.