Houlihan Lokey, Inc. (HLI) Q4 2025 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:03.135 Good day, ladies and gentlemen, and thank you for standing by. 00:00:03.135 -- 00:00:04.617 Welcome 00:00:04.617 -- 00:00:10.566 to Houlihan Loki's fourth quarter and fiscal year 2025 earnings conference call. 00:00:10.566 -- 00:00:14.391 At this time, all participants are in a listen-only mode. 00:00:14.391 -- 00:00:18.657 A question and answer session will follow the formal presentation. 00:00:18.657 -- 00:00:23.804 Please note that this conference call is being recorded today, May 7, 2025. 00:00:23.804 -- 00:00:25.226 I 00:00:25.226 -- 00:00:28.648 will now turn the call over to the company. 00:00:30.457 -- 00:00:35.525 Thank you, Operator, and hello, everyone. By now, everyone should have access 00:00:35.525 -- 00:00:40.613 to our fourth quarter and fiscal year 2025 earnings release, which can 00:00:40.613 -- 00:00:45.778 be found on the Houlihan-Loki website at www.hl.com 00:00:46.703 -- 00:00:49.448 in the investor relations section. 00:00:49.448 -- 00:00:54.756 Before we begin our formal remarks, we need to remind everyone that the discussion today 00:00:54.756 -- 00:00:59.376 will include forward-looking statements. These forward-looking statements, which are 00:00:59.376 -- 00:01:04.783 usually identified by use of words such as will, expect, anticipate, 00:01:04.783 -- 00:01:10.190 should, or other similar phrases, are not guarantees of future performance. 00:01:10.190 -- 00:01:15.337 These statements are subject to numerous risks and uncertainties that could cause actual 00:01:15.337 -- 00:01:20.804 results to differ materially from what we expect, and therefore, you should exercise 00:01:20.804 -- 00:01:24.372 caution when interpreting and relying on them. 00:01:24.372 -- 00:01:29.621 We refer all of you to our recent S...