Houlihan Lokey reported a strong Q4 2025 performance, with revenues hitting $666.4 million, representing an increase of 28% year-over-year. This marks the highest annual revenue in the firm's history, totaling $2.4 billion for the fiscal year 2025, up 25% compared to the prior year. Management credited growth to successful acquisitions and a diversified service offering that is positioned well despite economic volatility. Looking ahead, the firm remains optimistic about maintaining momentum across its core business lines amid uncertain market conditions.
CEO Scott Adelson highlighted the firm's adaptability and strength in managing through complex markets, stating, "These results are a testament to our business strategy, our diversified business model, and the perseverance of our colleagues around the globe." Linday Alley, CFO, outlined expectations for continued growth driven by increased headcount and ongoing investment in technology and branding, despite predicting high-single-digit growth in adjusted non-compensation expenses for the upcoming fiscal year.