Houlihan Lokey, Inc. (HLI) 10K Annual Reports & 10Q SEC Filings

LOS ANGELES and NEW YORK - May 12, 2022 - Houlihan Lokey, Inc. (NYSE:HLI) (“Houlihan Lokey” or the “Company”) today reported financial results for its fiscal year and fourth quarter ended March 31, 2022. For the fiscal year, revenues grew 49% to a fiscal year record of $2.27 billion, compared with $1.53 billion for the fiscal year ended March 31, 2021. For the fourth quarter ended March 31, 2022, revenues decreased (6)% to $471 million, compared with $501 million for the fourth quarter ended March 31, 2021.

Net income was $438 million, or $6.41 per diluted share, for the fiscal year ended March 31, 2022, compared with $313 million, or $4.55 per diluted share, for the fiscal year ended March 31, 2021. Adjusted net income for the fiscal year ended March 31, 2022 grew 53% to $486 million, or $7.10 per diluted share, compared with $317 million, or $4.62 per diluted share, for the fiscal year ended March 31, 2021.

Net income was $65 million, or $0.97 per diluted share, for the fourth quarter ended March 31, 2022, compared with $99 million, or $1.44 per diluted share, for the fourth quarter ended March 31, 2021. Adjusted net income for the fourth quarter ended March 31, 2022 was $88 million, or $1.30 per diluted share, compared with $104 million, or $1.51 per diluted share, for the fourth quarter ended March 31, 2021.

“We are pleased with our financial performance in fiscal year 2022 as we reached a new milestone of over $2 billion in revenue. We continue to build our advisory model focused on growth and diversification across geography, industry, product line and banker. We enter fiscal year 2023 optimistic about the firm’s continued ability to perform in today’s evolving market environment.” stated Scott Beiser, Chief Executive Officer of Houlihan Lokey.

Selected Financial Data


(In thousands, except per share data)	U.S. GAAP
	Three Months Ended March 31,				Year Ended March 31,
	2022		2021		2022		2021
Revenues	$	471,166	$	500,704	$	2,269,958	$	1,525,452
Operating expenses:
Employee compensation and benefits	293,580		317,082		1,408,634		971,195
Non-compensation expenses	78,977		43,346		248,460		146,100
Operating income	98,609		140,276		612,864		408,157
Other (income)/expense, net	7,921		473		8,926		(1,071)
Income before provision for income taxes	90,688		139,803		603,938		409,228
Provision for income taxes	25,515		40,437		165,614		96,457
Net income	65,173		99,366		438,324		312,771
Net income attributable to noncontrolling interest	—		—		(573)		—
Net income attributable to Houlihan Lokey, Inc.	$	65,173	$	99,366	$	437,751	$	312,771

Diluted earnings per share attributable to Houlihan Lokey, Inc.	$	0.97	$	1.44	$	6.41	$	4.55

The following information was filed by Houlihan Lokey, Inc. (HLI) on Friday, May 13, 2022 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Houlihan Lokey, Inc.'s 10-K Annual Report:

Other - Other Highlight
Our liquidity is highly dependent upon cash receipts from clients that are generally dependent upon the successful completion of transactions as well as the timing of receivables collections, which typically occur within 60 days of billing.

Revenue - Product Highlight
For the fiscal year ended March 31, 2022, we earned revenues of $2.27 billion, an increase of 49% from the $1.53 billion earned during the fiscal year ended March 31, 2021.
Financial - Dividend Highlight
Financing activities resulted in a net outflow of $(26.8) million primarily related to (i) dividend distributions, (ii) share repurchases, and (iii) payments to settle employee tax obligations on share-based awards, partially offset by the proceeds from the Company's May 2020 offering.
Financial - Expense Highlight
Corporate Expenses Year Ended March 31, 2022 Compared to the Year Ended March 31, 2021 Corporate expenses were $182 million for the year ended March 31, 2022, compared with $113 million for the year ended March 31, 2021, representing an increase of 61%.
Financial - Expense Highlight
The increase in corporate expenses was primarily a result of non-compensation expenses attributable to GCA, amortization of intangible assets recognized in connection with the acquisition of GCA and integration and acquisition related costs associated with the acquisition of GCA.
Financial - Expense
Accordingly, the amount of employee...Read more
Revenue - Product
It is too early to...Read more
M & A - Other
The amounts and useful lives...Read more
Financial - Income
Provision for Income Taxes The...Read more
Financial - Expense
Operating expenses were $1,657 million...Read more
Financial - Earnings
The decrease in segment profit...Read more
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The increase in non-compensation expenses...Read more
Other - Other
Liquidity and Capital Resources Our...Read more
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Subsequent to the end of...Read more
Revenue - Product
The increase in revenues was...Read more
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Financial Restructuring Year Ended March...Read more
Financial - Expense
Employee compensation and benefits expense,...Read more
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Revenue - Geography
The Company also has various...Read more
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For our fiscal year ended...Read more
Financial - Earnings
Segment profit for FVA was...Read more
Financial - Earnings
Segment profit for CF was...Read more
Other - Other
In our CF business segment,...Read more

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Material Contracts, Statements, Certifications & more

Houlihan Lokey, Inc. provided additional information to their SEC Filing as exhibits

Exhibit 10.12: Material Contract

Exhibit 10.14: Material Contract

Exhibit 21.1: Subsidaries Of The Registrant

Exhibit 23.1: Consents Of Experts And Counsel

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 32.1: Section 1350 Certification

Exhibit 32.2: Section 1350 Certification

Ticker: HLI
CIK: 1302215
Form Type: 10-K Annual Report
Accession Number: 0001302215-22-000029
Submitted to the SEC: Fri May 27 2022 5:22:18 PM EST
Accepted by the SEC: Fri May 27 2022
Period: Thursday, March 31, 2022
Industry: Investment Advice

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Houlihan Lokey, Inc. (HLI) SEC Filing 10-K Annual Report for the fiscal year ending Thursday, March 31, 2022

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