Q1 2025 Hamilton Lane Inc Earnings Call Transcript
Key Points
- Management and advisory fee revenue grew by 33% year-over-year.
- GAAP EPS of $1.47 and non-GAAP EPS of $1.51, indicating strong profitability.
- Total asset footprint increased by 15% year-over-year to $940 billion.
- Fee-earning AUM grew by 13% to $67.7 billion, driven by both specialized funds and customized separate accounts.
- Declared a dividend of $0.49 per share, on track for a 10% increase in the full fiscal 2025 dividend.
- Total expenses increased by $37 million compared to the prior year period.
- G&A expenses rose by $2.7 million, driven by revenue-related expenses.
- Retro fees for the quarter included $20.7 million, indicating reliance on retroactive fees for revenue.
- The insurance solutions team expansion reflects a need for unique structures to access private markets, indicating complexity.
- The integration of new technology solutions like Daphne is still in progress, which may pose operational challenges.
Good morning, ladies and gentlemen, and welcome to the Hamilton Lane first quarter fiscal 2025 earnings conference call. (Operator Instructions) This call is being recorded on Tuesday, August 6, 2024.
I would now like to hand the conference over to John Oh, Head of Shareholder Relations. Please go ahead.
Thank you, Julie. Good morning, and welcome to the Hamilton Lane Q1 fiscal 2025 earnings call. Today, I will be joined by Erik Hirsch, Co-Chief Executive Officer; Jeff Armbrister, Chief Financial Officer; and Griff Norville, Head of Technology Solutions.
Earlier this morning, we issued a press release and slide presentation, which are available on our website. Before we discuss the quarter's 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.
These forward
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