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Houlihan Lokey (HLI) Cost of Revenue (2016 - 2025)

Houlihan Lokey has reported Cost of Revenue over the past 12 years, most recently at $19.1 million for Q4 2025.

  • For Q4 2025, Cost of Revenue rose 13.1% year-over-year to $19.1 million; the TTM value through Dec 2025 reached $70.3 million, up 9.17%, while the annual FY2025 figure was $68.9 million, 17.24% up from the prior year.
  • Cost of Revenue for Q4 2025 was $19.1 million at Houlihan Lokey, up from $14.7 million in the prior quarter.
  • Over five years, Cost of Revenue peaked at $22.4 million in Q3 2022 and troughed at $3.0 million in Q2 2021.
  • A 5-year average of $15.5 million and a median of $16.0 million in 2022 define the central range for Cost of Revenue.
  • Biggest five-year swings in Cost of Revenue: surged 430.43% in 2022 and later plummeted 42.19% in 2023.
  • Year by year, Cost of Revenue stood at $17.9 million in 2021, then grew by 12.18% to $20.1 million in 2022, then fell by 13.87% to $17.3 million in 2023, then decreased by 2.12% to $16.9 million in 2024, then rose by 13.1% to $19.1 million in 2025.
  • Business Quant data shows Cost of Revenue for HLI at $19.1 million in Q4 2025, $14.7 million in Q3 2025, and $21.1 million in Q2 2025.