Form 8-K

8-K — HOULIHAN LOKEY, INC.

Accession: 0001302215-26-000063

Filed: 2026-07-30

Period: 2026-07-29

CIK: 0001302215

SIC: 6282 (INVESTMENT ADVICE)

Item: Results of Operations and Financial Condition

Item: Financial Statements and Exhibits

Documents

8-K — hli-20260729.htm (Primary)

EX-99.1 (a1q27-ex991.htm)

GRAPHIC (hllogo.jpg)

XML — IDEA: XBRL DOCUMENT (R1.htm)

8-K

8-K (Primary)

Filename: hli-20260729.htm · Sequence: 1

hli-20260729

0001302215false00013022152026-07-292026-07-29

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of report (Date of earliest event reported):

July 29, 2026

Houlihan Lokey, Inc.

(Exact Name of Registrant as Specified in Charter)

Delaware 001-37537 95-2770395

(State or Other Jurisdiction of

Incorporation) (Commission File Number) (IRS Employer

Identification No.)

10250 Constellation Blvd.

5th Floor

Los Angeles, California 90067

(Address of principal executive offices) (Zip Code)

310-553-8871

Registrant’s telephone number, including area code:

N/A

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of Each Class Trading Symbol(s) Name of each exchange on which registered

Class A Common Stock, par value $0.001 HLI New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

Item 2.02. Results of Operations and Financial Condition.

On July 29, 2026, Houlihan Lokey, Inc. issued a press release announcing its financial results for the first fiscal quarter ended June 30, 2026. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated by reference herein.

The information in Item 2.02 of this Current Report on Form 8-K, including the information contained in Exhibit 99.1, is being furnished to the Securities and Exchange Commission pursuant to Item 2.02, and shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, and shall not be deemed to be incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by a specific reference in such filing.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

99.1 Press Release dated July 29, 2026

104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: July 29, 2026 Houlihan Lokey, Inc.

By: /s/ J. Lindsey Alley

Name: J. Lindsey Alley

Position: Chief Financial Officer

EXHIBIT INDEX

Exhibit No. Description

99.1

Press Release dated July 29, 2026

EX-99.1

Filename: a1q27-ex991.htm · Sequence: 2

Document

Houlihan Lokey Reports First Quarter Fiscal 2027 Financial Results

– First Quarter Fiscal 2027 Revenues of $511 million –

– First Quarter Fiscal 2027 Diluted EPS of $1.15 –

– Adjusted First Quarter Fiscal 2027 Diluted EPS of $1.35 –

– Announces Dividend of $0.70 per Share for Second Quarter Fiscal 2027 –

LOS ANGELES - July 29, 2026 - Houlihan Lokey, Inc. (NYSE:HLI) (“Houlihan Lokey” or the “Company”) today reported financial results for its first quarter ended June 30, 2026.

For the first quarter ended June 30, 2026, revenues were $511 million, compared with $605 million for the first quarter ended June 30, 2025.

Net income attributable to Houlihan Lokey, Inc. was $78 million, or $1.15 per diluted share, for the first quarter ended June 30, 2026, compared with $98 million, or $1.42 per diluted share, for the first quarter ended June 30, 2025. Adjusted net income attributable to Houlihan Lokey, Inc. was $91 million, or $1.35 per diluted share, for the first quarter ended June 30, 2026, compared with $148 million, or $2.14 per diluted share, for the first quarter ended June 30, 2025.

“Our first quarter results reflected ongoing headwinds in our Corporate Finance business which started last quarter, including instability in the Middle East and disruptions in the technology sector, specifically in software. Given the general health of the economy and strong public market valuations, we believe these headwinds are temporary in nature and do not represent a cyclical downturn. We continue to see strong support for improved performance for the balance of the year, but it is difficult to tell when the current headwinds will subside,” stated Scott Adelson, Chief Executive Officer of Houlihan Lokey.

Selected Financial Data

(In millions, except per share data)

U.S. GAAP

Three Months Ended June 30,

2026 2025

Revenues by segment

Corporate Finance $ 303 $ 398

Financial Restructuring 119 128

Financial and Valuation Advisory 89 79

Revenues

511 605

Operating expenses:

Compensation 328 393

Non-compensation 105 122

Operating income

78 90

Other (income) expense, net (8) (8)

Income before provision for income taxes

86 98

Provision for income taxes

8 —

Net income

78 98

Net (income) loss attributable to noncontrolling interest — —

Net income attributable to Houlihan Lokey, Inc. $ 78 $ 98

Diluted earnings per share attributable to Houlihan Lokey, Inc.

$ 1.15 $ 1.42

Revenues

For the first quarter ended June 30, 2026, revenues were $511 million, compared with $605 million for the first quarter ended June 30, 2025. For the first quarter ended June 30, 2026, CF revenues decreased (24)%, FR revenues decreased (8)%, and FVA revenues increased 13% when compared with the first quarter ended June 30, 2025.

Expenses

The Company’s compensation expenses, non-compensation expenses, and provision for income taxes during the periods presented and described below are on a GAAP and an adjusted basis.

U.S. GAAP

Adjusted (Non-GAAP) (1)

Three Months Ended June 30,

($ in millions) 2026 2025 2026 2025

Expenses:

Compensation $ 328 $ 393 $ 314 $ 372

% of Revenues (2)

64.3 % 64.9 % 61.5 % 61.5 %

Non-compensation $ 105 $ 122 $ 100 $ 94

% of Revenues (2)

20.4 % 20.3 % 19.5 % 15.6 %

Provision for income taxes $ 8 $ — $ 13 $ (1)

% of Pre-tax income (2)

9.8 % 0.5 % 12.6 % (0.8) %

(1)Adjusted figures represent non-GAAP information. See “Non-GAAP Financial Measures” and the tables at the end of this release for an explanation of the adjustments and reconciliations to the comparable GAAP numbers.

(2)The percentages are presented as calculated; therefore, they may not recalculate precisely due to rounding.

Compensation expenses were $328 million for the first quarter ended June 30, 2026, compared with $393 million for the first quarter ended June 30, 2025. This resulted in a compensation ratio of 64.3% for the first quarter ended June 30, 2026, compared with 64.9% for the first quarter ended June 30, 2025. Adjusted compensation expenses were $314 million for the first quarter ended June 30, 2026, compared with $372 million for the first quarter ended June 30, 2025. This resulted in an adjusted compensation ratio of 61.5% for both the first quarter ended June 30, 2026 and June 30, 2025. The decrease in GAAP and adjusted compensation expenses was a result of a decrease in revenues when compared with the same quarter last year.

Non-compensation expenses were $105 million for the first quarter ended June 30, 2026, compared with $122 million for the first quarter ended June 30, 2025. The decrease in non-compensation expenses was primarily a result of decreases in the revaluation of acquisition contingent consideration and in depreciation and amortization, partially offset by an increase in professional fees compared with the same quarter last year. Adjusted non-compensation expenses were $100 million for the first quarter ended June 30, 2026, compared with $94 million for the first quarter ended June 30, 2025. The increase in adjusted non-compensation expenses was primarily a result of an increase in professional fees compared with the same quarter last year.

The effective tax rate was 9.8% for the first quarter ended June 30, 2026, compared with 0.5% for the first quarter ended June 30, 2025. The adjusted effective tax rate was 12.6% for the first quarter ended June 30, 2026, compared with (0.8)% for the first quarter ended June 30, 2025. The increase in the Company's GAAP and adjusted effective tax rate during the first quarter ended June 30, 2026, relative to the same period in 2025, was primarily a result of decreased stock-based compensation deductions.

Segment Reporting for the First Fiscal Quarter

Corporate Finance

CF revenues were $303 million for the first quarter ended June 30, 2026, compared with $398 million for the first quarter ended June 30, 2025. Revenues decreased due to a decrease in the average transaction fee on closed transactions, which was driven by transaction mix and we believe does not represent a short-term trend in the average fee on closed transactions.

Three Months Ended June 30,

($ in millions) 2026 2025

Corporate Finance

Revenues $ 303 $ 398

# of Managing Directors (1)

260 244

# of Closed transactions (2)

127 125

Financial Restructuring

FR revenues were $119 million for the first quarter ended June 30, 2026, compared with $128 million for the first quarter ended June 30, 2025. Revenues decreased primarily due to a decrease in the number of closed transactions. This was partially offset by an increase in the average transaction fee on closed transactions. The reduction in transaction volume was driven by timing of transaction closings, while the higher average transaction fee on closed transactions resulted from transaction mix and we believe does not represent a trend.

Three Months Ended June 30,

($ in millions) 2026 2025

Financial Restructuring

Revenues $ 119 $ 128

# of Managing Directors (1)

58 58

# of Closed transactions (2)

23 35

Financial and Valuation Advisory

FVA revenues were $89 million for the first quarter ended June 30, 2026, compared with $79 million for the first quarter ended June 30, 2025. Revenues increased due to an increase in the number of Fee Events, driven by strong market demand across our service lines.

Three Months Ended June 30,

($ in millions) 2026 2025

Financial and Valuation Advisory

Revenues $ 89 $ 79

# of Managing Directors (1)

47 45

# of Fee Events (2)

1,042 957

(1)As of the end of the respective reporting period.

(2)A Fee Event includes any engagement that involves revenue activity during the measurement period based on a revenue minimum of one thousand dollars. References in this press release to closed transactions should be understood to be the same as transactions that are “effectively closed” as described in our annual report on Form 10-K.

Other Announcements

The Board of Directors of the Company declared a regular quarterly cash dividend of $0.70 per share of Class A and Class B common stock. The dividend will be payable on September 15, 2026 to stockholders of record as of the close of business on September 1, 2026. Also, during the first quarter ended June 30, 2026, the Company repurchased 348 thousand shares as part of its share repurchase program. As of June 30, 2026, the Company had $797 million of cash and cash equivalents and investment securities.

Investor Conference Call and Webcast

The Company will host a conference call and live webcast at 5:00 p.m. Eastern Time on Wednesday, July 29, 2026, to discuss its first quarter fiscal 2027 results. The number to call is 1-844-501-1995 (domestic) or 1-412-345-3006 (international). A live webcast will be available in the Investor Relations section of the Company’s website. A replay of the conference call will be available from July 29, 2026 through August 5, 2026, by dialing 1-844-512-2921 (domestic) or 1-412-317-6671 (international) and entering the passcode 10210272. A replay of the webcast will be archived and available on the Company’s website.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the federal securities laws. You can identify these statements by our use of the words “assumes,” “believes,” “estimates,” “expects,” “guidance,” “intends,” “plans,” “projects,” and similar expressions that do not relate to historical matters. You should exercise caution in interpreting and relying on forward-looking statements because they involve known and unknown risks, uncertainties, and other factors which are, in some cases, beyond the Company’s control and could materially affect actual results, performance, or achievements. For a further description of such factors, you should read the Company’s filings with the Securities and Exchange Commission. Because forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified, you should not rely on these forward-looking statements as predictions of future events. The events and circumstances reflected in our forward-looking statements may not be achieved or occur and actual results could differ materially from those projected in the forward-looking statements. The Company does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.

Non-GAAP Financial Measures

As a supplement to our financial measures presented in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”), the Company presents certain adjusted (non-GAAP) measures of financial performance. These non-GAAP financial measures are not intended to be considered in isolation from, as a substitute for, or as more important than, the financial information prepared and presented in accordance with GAAP. In addition, these non-GAAP measures have limitations in that they do not reflect all of the items associated with the Company’s results of operations as determined in accordance with GAAP.

Adjusted net income, total and on a per share basis, and certain adjusted items used to determine adjusted net income, are presented and discussed in this earnings press release and are non-GAAP measures that management believes, when presented together with comparable GAAP measures, are useful to investors in understanding the Company’s financial and operating performance. The non-GAAP financial measures exclude the following items, as applicable in any given reporting period:

•certain acquisition related costs, including (1) acquisition related deferred retention payments, which may be settled in cash or common stock of the Company; (2) amortization of intangible assets recognized in purchase accounting; (3) fair value remeasurements of acquisition-related contingent consideration; and (4) other integration and acquisition related costs, including asset write offs or impairments;

•legal and other professional fees associated with the simplification of our legal entity structure that has resulted from acquisitions;

•the income tax adjustments associated with the non-tax adjustments above, determined by applying the tax rates in effect in the jurisdictions for which the non-tax adjustment relates; and

•significant discrete tax related items, including (1) acquisition-related costs which are non-deductible for income tax purposes and (2) other unusual or unique tax-related items and activities.

In the future, the Company may also consider whether other items should also be excluded in calculating the non-GAAP financial measures used by the Company.

These non-GAAP measures facilitate comparison of operating performance between periods and help investors to understand our underlying operating results by excluding certain items that may not be indicative of the Company’s core business, operating results, or future outlook. We consider quantitative and qualitative factors in assessing whether to adjust for the impact of items that could affect an understanding of our ongoing financial and business performance or trends. Internally, management uses these non-GAAP financial measures, along with GAAP financial measures, in assessing the Company’s operating results.

The adjusted items included in this earnings press release as calculated by the Company are not necessarily comparable to similarly titled measures reported by other companies. Additionally, these adjusted amounts are not a measurement of financial performance or liquidity under GAAP and should not be considered as an alternative to the Company’s financial information determined under GAAP. For additional descriptions of the Company’s use of these adjusted items and a reconciliation with comparable GAAP items, see the section of this press release titled “Reconciliation of GAAP to Adjusted Financial Information.”

We encourage investors to review our GAAP financial statements and other regulatory filings for a comprehensive understanding of our financial condition, results of operations, and cash flows.

About Houlihan Lokey

Houlihan Lokey, Inc. (NYSE:HLI) is a leading global investment bank recognized for delivering independent strategic and financial advice to corporations, financial sponsors, and governments. With uniquely deep industry expertise, broad international reach, and a partnership approach rooted in trust, the firm provides innovative, integrated solutions across mergers and acquisitions, capital solutions, financial restructuring, and financial and valuation advisory. Our unmatched transaction volumes provide differentiated, data-driven perspectives that help our clients achieve their most critical goals. To learn more about Houlihan Lokey, please visit HL.com.

HOULIHAN LOKEY, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

(UNAUDITED)

(In millions, except par value) June 30, 2026 March 31, 2026

Assets:

Cash and cash equivalents $ 745 $ 1,189

Investment securities 52 170

Accounts receivable, net of allowance for credit losses 224 228

Unbilled work in progress, net of allowance for credit losses 255 271

Property and equipment, net 143 143

Operating lease right-of-use assets 412 407

Goodwill 1,396 1,396

Other intangible assets, net 203 204

Other assets 287 301

Total assets $ 3,717 $ 4,309

Liabilities, temporary equity and stockholders' equity

Liabilities:

Accrued salaries and bonuses $ 589 $ 1,077

Accounts payable and accrued expenses 122 136

Operating lease liabilities 493 492

Other liabilities 148 151

Total liabilities 1,352 1,856

Redeemable noncontrolling interest 110 111

Stockholders' equity:

Class A common stock, $0.001 par value. Authorized 1,000 shares; issued and outstanding 54.2 and 54.2 shares, respectively — —

Class B common stock, $0.001 par value. Authorized 1,000 shares; issued and outstanding 15.7 and 15.3 shares, respectively — —

Additional paid-in capital 639 746

Retained earnings 1,667 1,645

Accumulated other comprehensive loss (51) (49)

Total stockholders’ equity 2,255 2,342

Total liabilities, temporary equity and stockholders’ equity $ 3,717 $ 4,309

HOULIHAN LOKEY, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

(UNAUDITED)

Three Months Ended June 30,

(In millions, except per share amounts) 2026 2025

Revenues $ 511 $ 605

Operating expenses:

Employee compensation and benefits 314 372

Acquisition related compensation and benefits 14 21

Travel, meals, and entertainment 19 20

Rent 21 18

Depreciation and amortization 8 16

Information technology and communications 19 18

Professional fees 17 12

Other operating expenses 21 20

Revaluation of acquisition contingent consideration — 18

Total operating expenses 433 515

Operating income 78 90

Other (income) expense, net (8) (8)

Income before provision for income taxes 86 98

Provision for income taxes 8 —

Net income 78 98

Net (income) loss attributable to noncontrolling interest — —

Net income attributable to Houlihan Lokey, Inc. $ 78 $ 98

Weighted average shares of common stock outstanding:

Basic 66.5 66.2

Fully diluted 67.6 68.9

Earnings per share

Basic $ 1.17 $ 1.47

Fully diluted $ 1.15 $ 1.42

HOULIHAN LOKEY, INC. AND SUBSIDIARIES

RECONCILIATION OF GAAP TO ADJUSTED FINANCIAL INFORMATION

(UNAUDITED)

Three Months Ended June 30,

(In millions, except per share data) 2026 2025

Revenues $ 511 $ 605

Compensation expenses

Compensation expenses (GAAP) $ 328 $ 393

Less: Acquisition related compensation and benefits (1)

(14) (21)

Compensation expenses (adjusted) 314 372

Non-compensation expenses

Non-compensation expenses (GAAP) $ 105 $ 122

Less: Acquisition related legal structure reorganization (2)

— (1)

Less: Integration and acquisition related costs (3)

(3) —

Less: Acquisition amortization (4)

(2) (9)

Less: Revaluation of acquisition contingent consideration (5)

— (18)

Non-compensation expenses (adjusted) 100 94

Operating income

Operating income (GAAP) $ 78 $ 90

Plus: Adjustments (6)

19 49

Operating income (adjusted) 97 139

Other (income) expense, net

Other (income) expense, net (GAAP) $ (8) $ (8)

Other (income) expense, net (adjusted) (8) (8)

Provision for income taxes

Provision for income taxes (GAAP) $ 8 $ —

Less: Non-deductible acquisition related costs (7)

— (1)

Adjusted provision for income taxes 8 (1)

Plus: Resulting tax impact (8)

5 —

Provision for income taxes (adjusted) 13 (1)

Net (income) loss attributable to noncontrolling interest

Net (income) loss attributable to noncontrolling interest (GAAP) $ — $ —

Less: Impact of adjustments on noncontrolling interest, net of tax (9)

(1) —

Net (income) loss attributable to noncontrolling interest (adjusted) (1) —

Net income attributable to Houlihan Lokey, Inc.

Net income attributable to Houlihan Lokey, Inc. (GAAP) $ 78 $ 98

Plus: Adjustments (10)

13 50

Net income attributable to Houlihan Lokey, Inc. (adjusted) $ 91 $ 148

Fully diluted shares outstanding

Fully diluted shares outstanding (GAAP) 67.6 68.9

Plus: Impact of unvested GCA retention and deferred share awards — 0.4

Fully diluted shares outstanding (adjusted) 67.6 69.3

Fully diluted EPS (GAAP) $ 1.15 $ 1.42

Fully diluted EPS (adjusted) $ 1.35 $ 2.14

Notes to Reconciliation of GAAP to Adjusted Financial Information

(1)Reflects acquisition related deferred retention payments.

(2)Reflects legal and other professional fees associated with the simplification of our legal entity structure that has resulted from acquisitions.

(3)Reflects integration and acquisition related costs, including asset write offs or impairments.

(4)Reflects amortization of intangible assets recognized in purchase accounting from our acquisitions.

(5)Reflects the fair value remeasurement of acquisition‑related contingent consideration.

(6)The aggregate of adjustments from compensation and non-compensation expenses.

(7)Reflects acquisition-related costs which are non-deductible for income tax purposes.

(8)Reflects the tax impact of the non-tax adjustments identified above.

(9)Reflects the impact of adjustments attributable to the noncontrolling interest, net of tax.

(10)Consists of all adjustments identified above, net of the associated tax impact.

GRAPHIC

Filename: hllogo.jpg · Sequence: 6

Binary file (15372 bytes)

Download hllogo.jpg

XML — IDEA: XBRL DOCUMENT

XML

Filename: R1.htm · Sequence: 8

v3.26.1

Cover Page Document

Jul. 29, 2026

Cover page [Abstract]

Document Type

8-K

Document Period End Date

Jul. 29, 2026

Entity Registrant Name

Houlihan Lokey, Inc.

Entity Incorporation, State or Country Code

Entity File Number

001-37537

Entity Tax Identification Number

95-2770395

Entity Address, Address Line One

10250 Constellation Blvd.

Entity Address, Address Line Two

5th Floor

Entity Address, City or Town

Los Angeles

Entity Address, State or Province

Entity Address, Postal Zip Code

90067

City Area Code

310

Local Phone Number

553-8871

Written Communications

false

Soliciting Material

false

Pre-commencement Tender Offer

false

Pre-commencement Issuer Tender Offer

false

Title of 12(b) Security

Class A Common Stock, par value $0.001

Trading Symbol

HLI

Security Exchange Name

NYSE

Entity Emerging Growth Company

false

Entity Central Index Key

0001302215

Amendment Flag

false

- Definition

Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.

+ References

No definition available.

+ Details

Name:

dei_AmendmentFlag

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Area code of city

+ References

No definition available.

+ Details

Name:

dei_CityAreaCode

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

For the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period. The format of the date is YYYY-MM-DD.

+ References

No definition available.

+ Details

Name:

dei_DocumentPeriodEndDate

Namespace Prefix:

dei_

Data Type:

xbrli:dateItemType

Balance Type:

Period Type:

duration

- Definition

The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.

+ References

No definition available.

+ Details

Name:

dei_DocumentType

Namespace Prefix:

dei_

Data Type:

dei:submissionTypeItemType

Balance Type:

Period Type:

duration

- Definition

Address Line 1 such as Attn, Building Name, Street Name

+ References

No definition available.

+ Details

Name:

dei_EntityAddressAddressLine1

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Address Line 2 such as Street or Suite number

+ References

No definition available.

+ Details

Name:

dei_EntityAddressAddressLine2

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Name of the City or Town

+ References

No definition available.

+ Details

Name:

dei_EntityAddressCityOrTown

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Code for the postal or zip code

+ References

No definition available.

+ Details

Name:

dei_EntityAddressPostalZipCode

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Name of the state or province.

+ References

No definition available.

+ Details

Name:

dei_EntityAddressStateOrProvince

Namespace Prefix:

dei_

Data Type:

dei:stateOrProvinceItemType

Balance Type:

Period Type:

duration

- Definition

A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityCentralIndexKey

Namespace Prefix:

dei_

Data Type:

dei:centralIndexKeyItemType

Balance Type:

Period Type:

duration

- Definition

Indicate if registrant meets the emerging growth company criteria.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityEmergingGrowthCompany

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.

+ References

No definition available.

+ Details

Name:

dei_EntityFileNumber

Namespace Prefix:

dei_

Data Type:

dei:fileNumberItemType

Balance Type:

Period Type:

duration

- Definition

Two-character EDGAR code representing the state or country of incorporation.

+ References

No definition available.

+ Details

Name:

dei_EntityIncorporationStateCountryCode

Namespace Prefix:

dei_

Data Type:

dei:edgarStateCountryItemType

Balance Type:

Period Type:

duration

- Definition

The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityRegistrantName

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityTaxIdentificationNumber

Namespace Prefix:

dei_

Data Type:

dei:employerIdItemType

Balance Type:

Period Type:

duration

- Definition

Local phone number for entity.

+ References

No definition available.

+ Details

Name:

dei_LocalPhoneNumber

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 13e

-Subsection 4c

+ Details

Name:

dei_PreCommencementIssuerTenderOffer

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 14d

-Subsection 2b

+ Details

Name:

dei_PreCommencementTenderOffer

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Title of a 12(b) registered security.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b

+ Details

Name:

dei_Security12bTitle

Namespace Prefix:

dei_

Data Type:

dei:securityTitleItemType

Balance Type:

Period Type:

duration

- Definition

Name of the Exchange on which a security is registered.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection d1-1

+ Details

Name:

dei_SecurityExchangeName

Namespace Prefix:

dei_

Data Type:

dei:edgarExchangeCodeItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 14a

-Subsection 12

+ Details

Name:

dei_SolicitingMaterial

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Trading symbol of an instrument as listed on an exchange.

+ References

No definition available.

+ Details

Name:

dei_TradingSymbol

Namespace Prefix:

dei_

Data Type:

dei:tradingSymbolItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Securities Act

-Number 230

-Section 425

+ Details

Name:

dei_WrittenCommunications

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Cover page [Abstract]

+ References

No definition available.

+ Details

Name:

hli_CoverpageAbstract

Namespace Prefix:

hli_

Data Type:

xbrli:stringItemType

Balance Type:

Period Type:

duration