Hamilton Lane Inc. Files 10-Q for Q2 2024

TL;DR

Hamilton Lane's Q2 2024 10-Q is in. Check financials.

AI Summary

Hamilton Lane Inc. filed its 10-Q for the period ending June 30, 2024. The filing covers the company's financial performance and operations. Key financial data and operational details are presented in this report.

Why It Matters

This 10-Q filing provides investors with a detailed look at Hamilton Lane's financial health and operational performance for the second quarter of 2024, influencing investment decisions.

Risk Assessment

Risk Level: low — This is a routine quarterly filing providing standard financial disclosures.

Key Players & Entities

• Hamilton Lane Inc. (company) — Filer of the 10-Q
• 20240630 (date) — End of the reporting period
• 20240806 (date) — Filing date

FAQ

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 13,664,635 shares of the regis

Filing Documents

• hlne-20240630.htm (10-Q) — 1317KB
• exhibit101termloanandsecur.htm (EX-10.1) — 408KB
• exhibit102revolvingloanand.htm (EX-10.2) — 436KB
• exhibit311630202410q.htm (EX-31.1) — 10KB
• exhibit312630202410q.htm (EX-31.2) — 10KB
• exhibit313630202410q.htm (EX-31.3) — 10KB
• exhibit32630202410q.htm (EX-32) — 6KB
• hlne-20240630_g1.jpg (GRAPHIC) — 12KB
• image_0.jpg (GRAPHIC) — 18KB
• image_0a.jpg (GRAPHIC) — 18KB
• image_2.jpg (GRAPHIC) — 0KB
• image_2a.jpg (GRAPHIC) — 0KB
• 0001433642-24-000085.txt ( ) — 7653KB
• hlne-20240630.xsd (EX-101.SCH) — 45KB
• hlne-20240630_cal.xml (EX-101.CAL) — 70KB
• hlne-20240630_def.xml (EX-101.DEF) — 279KB
• hlne-20240630_lab.xml (EX-101.LAB) — 556KB
• hlne-20240630_pre.xml (EX-101.PRE) — 419KB
• hlne-20240630_htm.xml (XML) — 898KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements 3 Condensed Consolidated Balance Sheets as of June 30, 2024 and March 31, 2024 3 Condensed Consolidated Statements of Income for the three months ended June 30, 2024 and 2023 4 Condensed Consolidated Statements of Stockholders' Equity for the three months ended June 30, 2024 and 2023 5 Condensed Consolidated Statements of Cash Flows for the three m onths ended June 30, 2024 and 2023 6 Notes to Condensed Consolidated Financial Statements 8

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 23

Quantitative and Qualitative Disclosures about Market Risk

Item 3. Quantitative and Qualitative Disclosures about Market Risk 44

Controls and Procedures

Item 4. Controls and Procedures 45

- OTHER INFORMATION

PART II - OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 46

Risk Factors

Item 1A. Risk Factors 46

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 46

Other Information

Item 5. Other Information 46

Exhibits

Item 6. Exhibits 47

Signatures

Signatures 48 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) June 30, March 31, 2024 2024 Assets Cash and cash equivalents $ 151,663 $ 114,634 Restricted cash 4,799 4,985 Fees receivable 141,099 108,291 Prepaid expenses 7,494 11,073 Due from related parties 14,199 8,150 Furniture, fixtures and equipment, net 32,632 33,013 Lease right-of-use assets, net 62,453 62,425 Investments 620,667 603,697 Deferred income taxes 259,301 261,887 Other assets 34,136 34,435 Assets of consolidated variable interest entities: Cash and cash equivalents 14,614 — Investments 28,804 28,575 Other assets 52 35 Total assets $ 1,371,913 $ 1,271,200 Liabilities and equity Accounts payable $ 4,683 $ 4,505 Accrued compensation and benefits 68,236 35,979 Accrued members' distributions 21,638 23,815 Accrued dividend 19,451 17,628 Debt 195,565 196,159 Payable to related parties pursuant to tax receivable agreement 200,346 201,422 Lease liabilities 78,916 79,033 Other liabilities (includes $ 13,871 and $ 13,071 at fair value) 37,734 36,700 Liabilities of consolidated variable interest entities: Other liabilities 8,514 1 Total liabilities $ 635,083 $ 595,242 Commitments and contingencies (Note 15) Class A common stock, $ 0.001 par value, 300,000,000 authorized; 40,533,548 and 40,547,806 issued and outstanding as of June 30, 2024 and March 31, 2024, respectively 41 41 Class B common stock, $ 0.001 par value, 50,000,000 authorized; 13,664,635 and 13,664,635 issued and outstanding as of June 30, 2024 and March 31, 2024, respectively 14 14 Additional paid-in-capital 210,099 208,402 Retained earnings 356,209 316,696 Total Hamilton Lane Incorporated stockholders' equity $ 566,363 $ 525,153 Non-controlling interests in general partnerships 5,389 5,043 Non-controlling interests in Hamilton Lane Advisors, L.L.C. 160,446 145,762 Non-controlling interests in consolidat

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