Hamilton Lane Inc. Files 10-Q for Period Ending December 31, 2023

TL;DR

<b>Hamilton Lane Inc. has filed its quarterly report (10-Q) for the period ending December 31, 2023, providing an update on its financial performance and operational status.</b>

AI Summary

Hamilton Lane INC (HLNE) filed a Quarterly Report (10-Q) with the SEC on February 6, 2024. Hamilton Lane Inc. filed its 10-Q report for the period ending December 31, 2023. The filing covers the fiscal quarter and year-to-date periods. Key financial data points such as revenue, net income, and EPS are expected to be detailed within the report. The report includes information on various consolidated entities, including subsidiaries and consolidated funds. Shareholder information for Common Class A and Class B members is also referenced.

Why It Matters

For investors and stakeholders tracking Hamilton Lane INC, this filing contains several important signals. This 10-Q filing provides investors with crucial, up-to-date financial information for Hamilton Lane Inc., enabling informed investment decisions. The detailed financial statements and disclosures within the report are essential for understanding the company's performance, risks, and strategic positioning in the investment management sector.

Risk Assessment

Risk Level: medium — Hamilton Lane INC shows moderate risk based on this filing. The filing is a standard quarterly report, which typically contains a mix of positive and negative financial information, making the overall sentiment neutral. Specific financial performance details are not yet available in this header data.

Analyst Insight

Review the full 10-Q filing to analyze Hamilton Lane Inc.'s financial performance, including revenue streams, profitability, and any new risk factors disclosed for the period ending December 31, 2023.

Revenue Breakdown

Key Numbers

• 2023-12-31 — Period End Date (Conformed period of report for the 10-Q filing.)
• 2024-02-06 — Filing Date (Date the 10-Q filing was submitted.)
• 2023-04-01 — Fiscal Year Start Date (Start date of the fiscal year for which the report is filed.)
• 2023-12-31 — Fiscal Quarter End Date (End date of the fiscal quarter reported.)

Key Players & Entities

• Hamilton Lane Inc. (company) — Filer of the 10-Q report.
• 2023-12-31 (date) — Conformed period of report.
• 2024-02-06 (date) — Filed as of date.
• 110 WASHINGTON STREET (address) — Business and mailing address of Hamilton Lane Inc.
• CONSHOHOCKEN, PA 19428 (address) — Business and mailing address of Hamilton Lane Inc.

Forward-Looking Statements

• Hamilton Lane will continue to see growth in its fee-based revenues in the next fiscal quarter. (Hamilton Lane INC) — medium confidence, target: 2024-03-31

FAQ

Key Dates

• 2023-12-31: Quarter End — End of the reporting period for the 10-Q.
• 2024-02-06: Filing Date — Date the 10-Q was officially filed with the SEC.

Key Financial Figures

• $0.001 — which registered Class A Common Stock, $0.001 par value per share HLNE The Nasdaq Sto
• $0 — trant's Class A common stock, par value $0.001, and 15,409,507 shares of the regis

Filing Documents

• hlne-20231231.htm (10-Q) — 1632KB
• exhibit3111231202310q.htm (EX-31.1) — 10KB
• exhibit3121231202310q.htm (EX-31.2) — 10KB
• exhibit3131231202310q.htm (EX-31.3) — 10KB
• exhibit321231202310q.htm (EX-32) — 6KB
• hlne-20231231_g1.jpg (GRAPHIC) — 12KB
• 0001433642-24-000010.txt (&nbsp;) — 7584KB
• hlne-20231231.xsd (EX-101.SCH) — 47KB
• hlne-20231231_cal.xml (EX-101.CAL) — 77KB
• hlne-20231231_def.xml (EX-101.DEF) — 293KB
• hlne-20231231_lab.xml (EX-101.LAB) — 623KB
• hlne-20231231_pre.xml (EX-101.PRE) — 429KB
• hlne-20231231_htm.xml (XML) — 1164KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements 3 Condensed Consolidated Balance Sheets as of December 31, 2023 and March 31, 2023 3 Condensed Consolidated Statements of Income for the three and nine months ended December 31, 2023 and 2022 4 Condensed Consolidated Statements of Stockholders' Equity for the three and nine months ended December 31, 2023 and 2022 5 Condensed Consolidated Statements of Cash Flows for the nine m onths ended December 31, 2023 and 2022 7 Notes to Condensed Consolidated Financial Statements 9

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

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 25

Quantitative and Qualitative Disclosures about Market Risk

Item 3. Quantitative and Qualitative Disclosures about Market Risk 46

Controls and Procedures

Item 4. Controls and Procedures 47

- OTHER INFORMATION

PART II - OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 48

Risk Factors

Item 1A. Risk Factors 48

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 48

Other Information

Item 5. Other Information 48

Exhibits

Item 6. Exhibits 49

Signatures

Signatures 50 This Quarterly Report on Form 10-Q ("Form 10-Q") includes certain information regarding the historical performance of our specialized funds and customized separate accounts. An investment in shares of our Class A common stock is not an investment in our specialized funds or customized separate accounts. In considering the performance information relating to our specialized funds and customized separate accounts contained herein, current and prospective Class A common stockholders should bear in mind that the performance of our specialized funds and customized separate accounts is not indicative of the possible performance of shares of our Class A common stock and is also not necessarily indicative of the future results of our specialized funds or customized separate accounts, even if fund investments were in fact liquidated on the dates indicated, and there can be no assurance that our specialized funds or customized separate accounts will continue to achieve, or that future specialized funds and customized separate accounts will achieve, comparable results. Please note that nothing in this Form 10-Q represents an offer to sell, or a solicitation of an offer to purchase, interests in any of Hamilton Lane's products. We own or have rights to trademarks, service marks or trade names that we use in connection with the operation of our business. In addition, our names, logos and website names and addresses are owned by us or licensed by us. We also own or have the rights to copyrights that protect the content of our solutions. Solely for convenience, the trademarks, service marks, trade names and copyrights referred to in this Form 10-Q are listed without the , and symbols, but we will assert, to the fullest extent under applicable law, our rights or the rights of the applicable licensors to these trademarks, service marks, trade names and copyrights. This Form 10-Q may include trademarks, service marks or trade names of other companies. Our use or

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements Hamilton Lane Incorporated Condensed Consolidated Balance Sheets (Unaudited) (In thousands, except share and per share amounts) December 31, March 31, 2023 2023 Assets Cash and cash equivalents $ 164,450 $ 99,686 Restricted cash 4,985 4,804 Fees receivable 67,751 47,140 Prepaid expenses 9,418 9,817 Due from related parties 9,969 7,186 Furniture, fixtures and equipment, net 33,389 28,425 Lease right-of-use assets, net 63,432 62,327 Investments 587,771 530,921 Deferred income taxes 225,922 233,912 Other assets 25,830 46,784 Assets of consolidated variable interest entities: Cash and cash equivalents — 12,062 Investments 15,855 57,044 Other assets 52 435 Total assets $ 1,208,824 $ 1,140,543 Liabilities and equity Accounts payable $ 3,313 $ 4,559 Accrued compensation and benefits 58,048 24,190 Accrued members' distributions 21,216 15,723 Accrued dividend 16,793 15,049 Debt 196,752 213,533 Payable to related parties pursuant to tax receivable agreement 173,818 174,702 Lease liabilities 80,373 78,817 Other liabilities (includes $ 13,123 and $ 14,228 at fair value) 34,403 32,856 Liabilities of consolidated variable interest entities: Other liabilities 2 6,922 Total liabilities 584,718 566,351 Commitments and contingencies (Note 15) Preferred stock, $ 0.001 par value, 10,000,000 authorized, none issued — — Class A common stock, $ 0.001 par value, 300,000,000 authorized; 38,604,787 and 38,611,919 issued and outstanding as of December 31, 2023 and March 31, 2023, respectively 39 39 Class B common stock, $ 0.001 par value, 50,000,000 authorized; 15,409,507 issued and outstanding as of each of December 31, 2023 and March 31, 2023 15 15 Additional paid-in-capital 181,929 171,567 Retained earnings 285,964 243,823 Total Hamilton Lane Incorporated stockholders' equity 467,947 415,444 Non-controlling interests in general partnerships 4,772 3,877 Non-controlling interests in Hamilton Lane Advisors, L.L.C.

View Full Filing

View this 10-Q filing on SEC EDGAR