Filing Flows › Hamilton Lane (HLNE) › Q3 FY26
Hamilton Lane (HLNE) Q3 FY26 earnings results (third quarter fiscal 2026)
10-Q filed Feb 3, 2026
Hamilton Lane (HLNE) reported revenue of $199M for the third quarter fiscal 2026 (Q3 FY26), +18% from a year earlier and +4% from the quarter before. Operating margin was 60.5%, net earnings $58.4M (29.4% of revenue).
Hamilton Lane, Q3 FY26: revenue $199M (+18% year over year), operating margin 60.5%, net earnings $58.4M, operating cash flow $74.1M. The chart follows the revenue to costs, profit and cash.
| Q3 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $199M | +4% | +18% |
| Operating profit | $120M | +2% | +33% |
| Net earnings | $58.4M | -18% | +10% |
| Operating cash flow | $74.1M | -38% | +15% |
| Free cash flow | $72.4M | -39% | +23% |
What changed
Revenue was $198.6M in Q3 FY26, up 18% year over year and up 4% from the previous quarter. Specialized funds was the largest line at 50% of revenue. Specialized funds added $22.8M year over year (up 30%), 75% of the total change. Distribution management declined 55%.
Operating profit was $120.0M, a 60.5% margin (up 6.9 points year over year). Of the extra revenue versus a year earlier, 99% reached operating profit, above the 54% margin then. Total costs grew 1% against revenue growth of 18%. Net earnings were $58.4M, up 10% year over year. The effective tax rate was 22.7%.
Operating cash flow was $74.1M (up 15% year over year), 80% of net income including minority interests. Non-cash charges added back $2.4M of depreciation and amortization and $13.0M of share-based compensation. Working capital and other items used $34.1M. Capital expenditures of $1.7M left free cash flow of $72.4M.
Questions
What was Hamilton Lane's revenue in the third quarter fiscal 2026?
Hamilton Lane (HLNE) reported revenue of $199M for the third quarter fiscal 2026 (Q3 FY26), +18% from a year earlier and +4% from the quarter before.
Was Hamilton Lane profitable in the third quarter fiscal 2026?
Operating profit was $120M (60.5% of revenue) and net earnings $58.4M.
Source: Hamilton Lane 10-Q on SEC EDGAR.