Filing Flows › Hamilton Lane (HLNE) › Q2 FY27
Hamilton Lane (HLNE) Q2 FY27 earnings results (second quarter fiscal 2027)
10-Q filed Nov 3, 2026
Hamilton Lane (HLNE) reported revenue of $204M for the second quarter fiscal 2027 (Q2 FY27), +7% from a year earlier and -26% from the quarter before. Operating margin was 87.4%, net earnings $77.5M (37.9% of revenue).
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 follows the revenue to costs, profit and cash.
| Q2 FY27 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $204M | -26% | +7% |
| Operating profit | $179M | +19% | +52% |
| Net earnings | $77.5M | -4% | +9% |
| Operating cash flow | $28.1M | -64% | -76% |
| Free cash flow | $22.8M | -70% | -81% |
What changed
Revenue was $204.4M in Q2 FY27, up 7% year over year and down 26% from the previous quarter. Specialized funds was the largest line at 54% of revenue. Specialized funds added $19.8M year over year (up 22%), 146% of the total change. Customized separate accounts declined 36%.
Operating profit was $178.6M, a 87.4% margin (up 25.8 points year over year). Of the extra revenue versus Q2 FY26, 450% reached operating profit, above the 62% margin then. Total costs fell 65% while revenue rose 7%. Net earnings were $77.5M, up 9% year over year. The effective tax rate was 16.6%.
Operating cash flow was $28.1M (down 76% year over year), 19% of net income including minority interests. Non-cash charges added back $2.4M of depreciation and amortization and $13.7M of share-based compensation. Working capital and other items used $137.0M. Capital expenditures of $5.3M left free cash flow of $22.8M.
Questions
What was Hamilton Lane's revenue in the second quarter fiscal 2027?
Hamilton Lane (HLNE) reported revenue of $204M for the second quarter fiscal 2027 (Q2 FY27), +7% from a year earlier and -26% from the quarter before.
Was Hamilton Lane profitable in the second quarter fiscal 2027?
Operating profit was $179M (87.4% of revenue) and net earnings $77.5M.
Source: Hamilton Lane 10-Q on SEC EDGAR.