Filing Flows › Hamilton Lane (HLNE) › Q2 FY27 › vs Q2 FY26
Hamilton Lane (HLNE) Q2 FY27 vs Q2 FY26 (year over year)
Hamilton Lane's revenue rose $13.6M (+7%) from $191M in Q2 FY26 to $204M in Q2 FY27. The biggest changes: Management and advisory fees +$15.8M (+11%); Fund reimbursement revenue +$2.4M (+124%); Customized separate accounts −$1.7M (-5%). Operating margin 87.4% against 61.6% (+25.8 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 Q2 FY26, the increases inside each band.
Margins
| Q2 FY27 | Q2 FY26 | Change | |
|---|---|---|---|
| Operating margin | 87.4% | 61.6% | +25.8 pts |
| Net margin | 37.9% | 37.1% | +0.8 pts |
| Free cash flow margin | 11.2% | 61.7% | -50.6 pts |
Every line
| Line | Q2 FY27 | Q2 FY26 | Change | % |
|---|---|---|---|---|
| Specialized funds | $110M | $89.9M | $19.8M | +22% |
| Specialized funds | $32.0M | $31.5M | $557K | +2% |
| Reporting, monitoring, data and analytics | $9.7M | $8.6M | $1.1M | +12% |
| Customized separate accounts | $8.4M | $13.1M | −$4.7M | -36% |
| Advisory | $4.5M | $5.4M | −$933K | -17% |
| Management and advisory fees | $164M | $148M | $15.8M | +11% |
| Customized separate accounts | $34.0M | $35.8M | −$1.7M | -5% |
| Fund reimbursement revenue | $4.4M | $2.0M | $2.4M | +124% |
| Distribution management | $1.7M | $452K | $1.3M | +277% |
| Revenue | $204M | $191M | $13.6M | +7% |
| Operating profit | $179M | $118M | $61.0M | +52% |
| Costs & expenses | $25.8M | $73.3M | −$47.5M | -65% |
| Pre-tax earnings | $179M | $118M | $61.0M | +52% |
| Net earnings | $77.5M | $70.9M | $6.6M | +9% |
| Minority interests | $71.4M | $32.7M | $38.7M | +118% |
| Income tax | $29.7M | $14.0M | $15.7M | +112% |
| Depreciation & amortization | $2.4M | $2.5M | −$102K | -4% |
| Share-based compensation | $13.7M | $12.4M | $1.3M | +11% |
| Working capital & other | $65.6M | −$33.1M | $98.7M | — |
| Operating cash flow | $28.1M | $119M | −$90.8M | -76% |
| Free cash flow (OCF − capex) | $22.8M | $118M | −$95.0M | -81% |
| Capital expenditures | $5.3M | $1.1M | $4.2M | +386% |
Questions
How much did Hamilton Lane's revenue grow year over year in Q2 FY27?
Hamilton Lane's revenue rose $13.6M (+7%) from $191M in Q2 FY26 to $204M in Q2 FY27.
What drove Hamilton Lane's revenue change in Q2 FY27?
Management and advisory fees +$15.8M (+11%); Fund reimbursement revenue +$2.4M (+124%); Customized separate accounts −$1.7M (-5%).