Filing Flows › Hamilton Lane (HLNE) › Q1 FY27 › vs Q1 FY26
Hamilton Lane (HLNE) Q1 FY27 vs Q1 FY26 (year over year)
Hamilton Lane's revenue rose $99.4M (+56%) from $176M in Q1 FY26 to $275M in Q1 FY27. The biggest changes: Management and advisory fees +$74.9M (+86%); Total incentive fees +$24.4M (+27%). Operating margin 54.5% against 54.2% (+0.2 pts).
Hamilton Lane, Q1 FY27: revenue $275M (+56% year over year), operating margin 54.5%, net earnings $80.5M, operating cash flow $77.2M. The chart draws each line against Q1 FY26, the increases inside each band.
Margins
| Q1 FY27 | Q1 FY26 | Change | |
|---|---|---|---|
| Operating margin | 54.5% | 54.2% | +0.2 pts |
| Net margin | 29.2% | 30.5% | -1.3 pts |
| Free cash flow margin | 27.4% | 72.5% | -45.1 pts |
Every line
| Line | Q1 FY27 | Q1 FY26 | Change | % |
|---|---|---|---|---|
| Specialized funds | $109M | $82.7M | $26.1M | +32% |
| Specialized funds | $108M | $38.2M | $69.3M | +181% |
| Customized separate accounts | $34.7M | $34.6M | $115K | +0.3% |
| Reporting, monitoring, data and analytics | $9.9M | $8.4M | $1.5M | +18% |
| Customized separate accounts | $6.4M | $4.1M | $2.4M | +58% |
| Advisory | $4.6M | $5.5M | −$931K | -17% |
| Fund reimbursement revenue | $3.1M | $1.5M | $1.6M | +106% |
| Distribution management | $257K | $975K | −$718K | -74% |
| Management and advisory fees | $162M | $86.8M | $74.9M | +86% |
| Total incentive fees | $114M | $89.2M | $24.4M | +27% |
| Revenue | $275M | $176M | $99.4M | +56% |
| Operating profit | $150M | $95.4M | $54.5M | +57% |
| Costs & expenses | $125M | $80.5M | $44.9M | +56% |
| Pre-tax earnings | $150M | $95.4M | $54.5M | +57% |
| Net earnings | $80.5M | $53.7M | $26.7M | +50% |
| Minority interests | $44.4M | $23.3M | $21.1M | +90% |
| Income tax | $25.1M | $18.4M | $6.7M | +36% |
| Depreciation & amortization | $2.5M | $2.5M | $0 | 0% |
| Share-based compensation | $12.9M | $12.8M | $108K | +0.8% |
| Working capital & other | $18.7M | −$59.9M | $78.6M | — |
| Operating cash flow | $77.2M | $129M | −$51.8M | -40% |
| Free cash flow (OCF − capex) | $75.3M | $128M | −$52.2M | -41% |
| Capital expenditures | $1.8M | $1.3M | $457K | +34% |
Questions
How much did Hamilton Lane's revenue grow year over year in Q1 FY27?
Hamilton Lane's revenue rose $99.4M (+56%) from $176M in Q1 FY26 to $275M in Q1 FY27.
What drove Hamilton Lane's revenue change in Q1 FY27?
Management and advisory fees +$74.9M (+86%); Total incentive fees +$24.4M (+27%).