Hennessy Advisors (HNNA) Q4 2024 earnings summary

Executive summary

• FY2024 revenue rose 23% to $29.6M, net income increased 49% to $7.1M, and diluted EPS grew 46% to $0.92.

• Average AUM increased 23% to $3.7B; fiscal year-end AUM rose 53% to $4.6B.

Financial highlights

• Total revenue was $29.6M, up $5.6M or 23.4% YoY; net income was $7.1M, up $2.3M or 48.8%.

• Diluted EPS was $0.92, up $0.29 or 46.0% YoY; diluted weighted average shares rose 1.6% to 7.72M.

• Cash and cash equivalents, net of gross debt, were $23.7M at Sept. 30, 2024, up 17.0% YoY.

Outlook and guidance

• Management sees low, stable unemployment, robust corporate earnings and cash flows, a healthy banking system, and positive consumer sentiment supporting spending and market growth through year-end and beyond.

• FY2025 began with total AUM more than 50% above Sept. 30, 2023.