Filing Flows › Hamilton Lane (HLNE) › Q2 FY27 › vs Q1 FY27
Hamilton Lane (HLNE) Q2 FY27 vs Q1 FY27 (quarter over quarter)
Hamilton Lane's revenue fell $70.9M (-26%) from $275M in Q1 FY27 to $204M in Q2 FY27. The biggest changes: Management and advisory fees −$73.0M (-31%); Distribution management +$1.4M (+563%); Fund reimbursement revenue +$1.3M (+41%). Operating margin 87.4% against 54.5% (+32.9 pts).
Hamilton Lane, Q2 FY27: revenue $204M (+7% year over year), operating margin 87.4%, net earnings $77.5M, operating cash flow $28.1M. The chart draws each line against Q1 FY27, the increases inside each band.
Margins
| Q2 FY27 | Q1 FY27 | Change | |
|---|---|---|---|
| Operating margin | 87.4% | 54.5% | +32.9 pts |
| Net margin | 37.9% | 29.2% | +8.7 pts |
| Free cash flow margin | 11.2% | 27.4% | -16.2 pts |
Every line
| Line | Q2 FY27 | Q1 FY27 | Change | % |
|---|---|---|---|---|
| Specialized funds | $110M | $109M | $857K | +0.8% |
| Specialized funds | $32.0M | $108M | −$75.5M | -70% |
| Reporting, monitoring, data and analytics | $9.7M | $9.9M | −$204K | -2% |
| Customized separate accounts | $8.4M | $6.4M | $2.0M | +31% |
| Advisory | $4.5M | $4.6M | −$57K | -1% |
| Management and advisory fees | $164M | $237M | −$73.0M | -31% |
| Customized separate accounts | $34.0M | $34.7M | −$653K | -2% |
| Fund reimbursement revenue | $4.4M | $3.1M | $1.3M | +41% |
| Distribution management | $1.7M | $257K | $1.4M | +563% |
| Revenue | $204M | $275M | −$70.9M | -26% |
| Operating profit | $179M | $150M | $28.6M | +19% |
| Costs & expenses | $25.8M | $125M | −$99.5M | -79% |
| Pre-tax earnings | $179M | $150M | $28.6M | +19% |
| Net earnings | $77.5M | $80.5M | −$3.0M | -4% |
| Minority interests | $71.4M | $44.4M | $27.0M | +61% |
| Income tax | $29.7M | $25.1M | $4.6M | +18% |
| Depreciation & amortization | $2.4M | $2.5M | −$111K | -4% |
| Share-based compensation | $13.7M | $12.9M | $825K | +6% |
| Working capital & other | $65.6M | $18.7M | $46.8M | +250% |
| Operating cash flow | $28.1M | $77.2M | −$49.1M | -64% |
| Free cash flow (OCF − capex) | $22.8M | $75.3M | −$52.5M | -70% |
| Capital expenditures | $5.3M | $1.8M | $3.5M | +193% |
Questions
How much did Hamilton Lane's revenue grow quarter over quarter in Q2 FY27?
Hamilton Lane's revenue fell $70.9M (-26%) from $275M in Q1 FY27 to $204M in Q2 FY27.
What drove Hamilton Lane's revenue change in Q2 FY27?
Management and advisory fees −$73.0M (-31%); Distribution management +$1.4M (+563%); Fund reimbursement revenue +$1.3M (+41%).