Q4 2024 Hamilton Lane Inc Earnings Call Transcript

May 23, 2024 / 03:00PM GMT

Release Date Price: $124.22 (+4.20%)

Transcript 10-K8-K

Key Points

Positve

Management and advisory fee revenue grew by 22% for fiscal year 2024.
Fee-related earnings also grew by 22% versus the prior year.
Board approved a 10% increase to the annual fiscal dividend, marking the seventh consecutive annual increase.
Total asset footprint increased by 7% year-over-year, with AUM growing by 11%.
Strong growth in fee-earning AUM, which stood at $65.7 billion, up 15% from the prior year.

Negative

Incentive fees down 35% relative to the prior year.
Total expenses for fiscal 2024 increased by $19.3 million compared to the prior year.
Revenue from advisory reporting and other offerings decreased slightly due to the sale of 361 Capital assets.
Higher travel and conference costs due to increased activity and inflation.
Upfront fees paid to wirehouses for onboarding costs are a headwind.

Operator

Good morning, ladies and gentlemen, and welcome to the Hamilton Lane Corp's (sic - Hamilton Lane Incorporated) fiscal-quarter and full fiscal--year 2024 earnings call. (Operator instructions) This call is being recorded on Thursday, May 23, 2024.

I would now like to turn the conference over to John Oh, Head of Shareholder Relations. Please go ahead.

John Oh

Hamilton Lane Inc - Vice President, Investor Relations

Thank you, Eva. Good morning, and welcome to the Hamilton Lane Q4 and fiscal year end 2024 earnings call. Today, I will be joined by Erik Hirsch, Co-Chief Executive Officer; and Jeff Armbrister, Chief Financial Officer.

Earlier this morning, we issued a press release and slide presentation, which are available on our website. Before we discuss the quarter and year-end results, we want to remind you that we will be making forward-looking statements. Forward-looking statements discuss our current expectations and projections relating to our financial position, results of operations, plans, objectives, future performance, and business.

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