Houlihan Lokey Files 2024 10-K

TL;DR

HLI's 2024 10-K is in. Full FY24 financials out now.

AI Summary

Houlihan Lokey, Inc. filed its 2024 10-K report for the fiscal year ending March 31, 2024. The company, headquartered in Los Angeles, CA, operates in the Investment Advice sector. The filing covers the period from April 1, 2023, to March 31, 2024, and includes financial data for the fiscal years 2024, 2023, and 2022.

Why It Matters

This 10-K filing provides a comprehensive overview of Houlihan Lokey's financial performance and business operations for the fiscal year 2024, offering insights for investors and stakeholders.

Risk Assessment

Risk Level: low — This is a standard annual financial filing for a publicly traded company and does not inherently present new risks.

Key Numbers

• FY2024 — Fiscal Year (Reporting period ending March 31, 2024.)
• FY2023 — Fiscal Year (Previous fiscal year for comparison.)
• FY2022 — Fiscal Year (Prior fiscal year for trend analysis.)

Key Players & Entities

• HOULIHAN LOKEY, INC. (company) — Filer
• LOS ANGELES, CA (location) — Business Address
• 20240331 (date) — Conformed Period of Report
• 20240521 (date) — Filed as of Date

FAQ

Key Financial Figures

• $0.001 — 528,157 shares of Class A common stock, $0.001 par value per share, and 16,055,481 sha
• $1 billion — nsistently selling more companies under $1 billion than any competitor. We provide advice

Filing Documents

• hli-20240331.htm (10-K) — 1637KB
• q4fy23-ex1011.htm (EX-10.11) — 20KB
• q4fy23-ex211.htm (EX-21.1) — 6KB
• q4fy23-ex231.htm (EX-23.1) — 2KB
• q4fy24-ex311.htm (EX-31.1) — 10KB
• q4fy24-ex312.htm (EX-31.2) — 10KB
• q4fy24-ex321.htm (EX-32.1) — 5KB
• q4fy24-ex322.htm (EX-32.2) — 5KB
• q4fy23-ex97.htm (EX-97) — 38KB
• hli-20240331_g1.jpg (GRAPHIC) — 218KB
• hli-20240331_g2.jpg (GRAPHIC) — 137KB
• 0001302215-24-000028.txt ( ) — 9317KB
• hli-20240331.xsd (EX-101.SCH) — 53KB
• hli-20240331_cal.xml (EX-101.CAL) — 97KB
• hli-20240331_def.xml (EX-101.DEF) — 242KB
• hli-20240331_lab.xml (EX-101.LAB) — 703KB
• hli-20240331_pre.xml (EX-101.PRE) — 492KB
• hli-20240331_htm.xml (XML) — 1233KB

Business

Business 1 Item 1A.

Risk Factors

Risk Factors 10 Item 1B. Unresolved Staff Comments 23 Item 1C. Cybersecurity 24 Item 2.

Properties

Properties 25 Item 3.

Legal Proceedings

Legal Proceedings 25 Item 4. Mine Safety Disclosures 25 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 26 Item 6. [Reserved] 28 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 29 Item 7A.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 38 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 39 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 71 Item 9A.

Controls and Procedures

Controls and Procedures 71 Item 9B. Other Information 71 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections PART III Item 10. Directors, Executive Officers and Corporate Governance 73 Item 11.

Executive Compensation

Executive Compensation 73 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 73 Item 13. Certain Relationships and Related Transactions, and Director Independence 73 Item 14. Principal Accounting Fees and Services 73 PART IV Item 15. Exhibits and Financial Statement Schedules 74 Item 16. Form 10-K Summary 76

Signatures

Signatures 76 Table of Contents PART I Unless the context otherwise requires, as used in this Annual Report on Form 10-K ("Form 10-K"), the terms the "Company," "Houlihan Lokey, Inc.," "Houlihan Lokey," "HL," "our firm," "we," "us" and "our" refer to Houlihan Lokey, Inc., a Delaware corporation ("HL DE"), and, in each case, unless otherwise stated, all of its subsidiaries. We use the term "HL Holders" to refer to our current and former employees and members of our management who hold our Class B common stock through the Houlihan Lokey Voting Trust (the "HL Voting Trust"). Our fiscal year ends on March 31st; references to fiscal 2024, fiscal 2023, and fiscal 2022 are to our fiscal years ended March 31, 2024, 2023, and 2022, respectively; references in this Form 10-K to years are to calendar years unless otherwise noted. CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This Form 10-K contains forward-looking statements. All statements other than statements of historical fact contained in this Form 10-K may be forward-looking statements. Statements regarding our future results of operations and financial position, business strategy and plans and objectives of management for future operations are forward-looking statements. In some cases, you can identify forward-looking statements by terms such as "may," "might," "will," "should," "expects," "plans," "anticipates," "could," "targets," "projects," "contemplates," "believes," "estimates," "intends," "predicts," "potential" or "continue," or the negative of these terms or other similar expressions. Forward-looking statements involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. We believe that these factors include, but are not limited to, the following: our ability to retain our Managing Di

Business

Item 1. Business Established in 1972, Houlihan Lokey, Inc. is a leading global independent investment bank with expertise in mergers and acquisitions (M&A), capital markets, financial restructurings, and financial and valuation advisory. Through our offices in the Americas, Europe, Asia, Australia, and the Middle East, we serve a diverse set of clients worldwide, including corporations, financial sponsors and government agencies. We provide our financial professionals with an integrated platform that enables them to deliver meaningful and differentiated advice to our clients. We advise our clients on critical strategic and financial decisions, employing a rigorous analytical approach coupled with deep product and industry expertise. We market our services through our product areas, our industry groups and our Financial Sponsors group, serving our clients in three primary business practices: Corporate Finance ("CF"), encompassing M&A and capital markets advisory, Financial Restructuring ("FR") both out-of-court and in formal bankruptcy or insolvency proceedings, and Financial and Valuation Advisory ("FVA"), including financial opinions and a variety of valuation and financial consulting services. We are committed to a set of principles that serve as the backbone of our success. Independent advice and intellectual rigor, combined with consistent senior-level involvement, are hallmarks of our commitment to client service. Our entrepreneurial culture engenders our flexibility to collaborate across our business practices to provide world-class solutions for our clients. Our broad-based employee ownership serves to align the interests of employees and shareholders and further encourages a collaborative environment where our CF, FR, and FVA professionals work together productively and creatively to solve our clients' most critical financial issues. We enter into businesses or offer services where we believe we can excel based on our expertise, analytical sophistication,

View Full Filing

View this 10-K filing on SEC EDGAR