Filing Flows › Hamilton Lane (HLNE) › Q1 FY26
Hamilton Lane (HLNE) Q1 FY26 earnings results (first quarter fiscal 2026)
10-Q filed Aug 5, 2025
Hamilton Lane (HLNE) reported revenue of $176M for the first quarter fiscal 2026 (Q1 FY26), -11% from a year earlier and -11% from the quarter before. Operating margin was 54.2%, net earnings $53.7M (30.5% of revenue).
Hamilton Lane, Q1 FY26: revenue $176M (-11% year over year), operating margin 54.2%, net earnings $53.7M, operating cash flow $129M. The chart follows the revenue to costs, profit and cash.
| Q1 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $176M | -11% | -11% |
| Operating profit | $95.4M | +8% | -11% |
| Net earnings | $53.7M | +6% | -9% |
| Operating cash flow | $129M | +228% | +62% |
| Free cash flow | $128M | +256% | +63% |
What changed
Revenue was $176.0M in Q1 FY26, down 11% year over year and down 11% from the previous quarter. Specialized funds was the largest line at 47% of revenue. Specialized funds lost $13.8M year over year (down 27%), 67% of the total change.
Operating profit was $95.4M, a 54.2% margin (unchanged year over year). Total costs fell 11% while revenue fell 11%. Net earnings were $53.7M, down 9% year over year. The effective tax rate was 19.3%.
Operating cash flow was $128.9M (up 62% year over year), 167% of net income including minority interests. Non-cash charges added back $2.5M of depreciation and amortization and $12.8M of share-based compensation. Working capital and other items added $36.5M. Capital expenditures of $1.3M left free cash flow of $127.6M.
Questions
What was Hamilton Lane's revenue in the first quarter fiscal 2026?
Hamilton Lane (HLNE) reported revenue of $176M for the first quarter fiscal 2026 (Q1 FY26), -11% from a year earlier and -11% from the quarter before.
Was Hamilton Lane profitable in the first quarter fiscal 2026?
Operating profit was $95.4M (54.2% of revenue) and net earnings $53.7M.
Source: Hamilton Lane 10-Q on SEC EDGAR.