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Sep 30
Hamilton Lane Q2 2026 Earnings Report
Hamilton Lane reported strong growth in Q2 FY26 with higher revenues, EPS, and AUM, supported by fee and incentive income.
Key Takeaways
Hamilton Lane delivered solid results in Q2 FY26 with $190.88M in revenue and $70.89M in net income attributable to the firm. Fee-earning AUM grew to $76.4B, helping lift EPS and Non-GAAP performance metrics.
Total revenue grew 27% YoY to $190.88M, driven by both fee and incentive income.
EPS increased to $1.69 and Non-GAAP EPS rose to $1.54.
Fee-earning AUM reached $76.4B, up 10% YoY.
Unrealized carried interest climbed to $1.43B across 122 vehicles.
Hamilton Lane
Hamilton Lane
Hamilton Lane Revenue by Segment
Revenue by Segment
Mgmt & Advisory Fees Revenue
CapyFin.comIncentive Fees Revenue
CapyFin.com Forward Guidance
Hamilton Lane anticipates continued growth in recurring fee-based income, stable margins, and contributions from diversified vehicles, but warns of timing uncertainty in incentive realization.
Positive Outlook
- Stable recurring revenue base with over 80% from management and advisory fees.
- Strong pipeline of new fund launches including infrastructure and impact funds.
- Ongoing growth in fee-earning AUM from existing and new clients.
- Long-term carry potential remains high with $1.43B in unrealized carry.
- Dividend of $0.54 declared for Class A shareholders.
Challenges Ahead
- Incentive fees remain unpredictable due to timing of realizations.
- Equity-based compensation increased significantly YoY.
- Foreign exchange and market volatility can impact AUM growth.
- Distribution activity has slowed compared to prior quarters.
- Higher tax expense reduced net margins despite income growth.