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Where the tokens are
Standardised from the company’s filings, newest period first, labelled with the company’s own fiscal calendar. A line the company does not report is left off rather than shown as zero; margins and free cash flow are worked out here, and only where every input is present.
| Line item | Q1 FY272026-06-30 | Q4 FY262026-03-31 | Q3 FY262025-12-31 | Q2 FY262025-09-30 | Q1 FY262025-06-30 | Q4 FY252025-03-31 | Q3 FY252024-12-31 | Q2 FY252024-09-30 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $511.00M | $635.64M | $717.07M | $659.45M | $605.00M | $666.42M | $634.43M | $574.96M |
| Gross profit | $511.00M | $635.64M | $717.07M | $659.45M | $605.00M | $666.42M | $634.43M | $574.96M |
| Gross margin | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% |
| Selling, general and administrative | $369.00M | $442.17M | $491.83M | $447.76M | $422.00M | $454.56M | $436.80M | $394.60M |
| Operating expenses | $433.00M | $510.50M | $556.34M | $508.11M | $515.00M | $525.37M | $498.33M | $444.29M |
| Operating income | $78.00M | $125.15M | $160.73M | $151.34M | $90.00M | $141.06M | $136.10M | $130.67M |
| Operating margin | 15.3% | 19.7% | 22.4% | 22.9% | 14.9% | 21.2% | 21.5% | 22.7% |
| EBITDA | $100.00M | $151.06M | $186.60M | $179.28M | $127.00M | $177.16M | $158.46M | $145.15M |
| Income before taxes | $86.00M | $134.51M | $169.65M | $160.05M | $98.00M | $150.26M | $145.12M | $136.09M |
| Income taxes | $8.00M | $36.20M | $53.10M | $48.27M | $0 | $28.34M | $49.82M | $42.54M |
| Net income | $78.00M | $98.31M | $116.55M | $111.78M | $98.00M | $121.92M | $95.30M | $93.55M |
| Net margin | 15.3% | 15.5% | 16.3% | 17.0% | 16.2% | 18.3% | 15.0% | 16.3% |
| EPS, basic | $1.17 | $1.50 | $1.75 | $1.67 | $1.47 | $1.84 | $1.45 | $1.42 |
| EPS, diluted | $1.15 | $1.47 | $1.70 | $1.63 | $1.42 | $1.77 | $1.39 | $1.37 |
| Diluted shares | 67.60M | 67.82M | 68.43M | 68.59M | 68.90M | 68.95M | 68.76M | 68.42M |
Figures describe Houlihan Lokey shares, not any token. As of Jul 31, 2026, from Massive's standardised financials. The company reports these figures; a token's issuer holds the shares and reports nothing of its own here.