Houlihan Lokey, Inc. (NYSE:HLI) Q1 2026 Earnings Conference Call July 29, 2025 5:00 PM ETCompany ParticipantsChristopher M. Crain - Corporate ParticipantMD, General Counsel & Secretary - Corporate ParticipantJ. Lindsey Alley - MD & CFOScott Joseph Adelson - CEO & DirectorConference Call ParticipantsAlexander Scott Bond - Keefe, Bruyette, & Woods, Inc., Research DivisionBrendan James O'Brien - Wolfe Research, LLCDevin Patrick Ryan - Citizens JMP Securities, LLC, Research DivisionJames Edwin Yaro - Goldman Sachs Group, Inc., Research DivisionJames Francis Mitchell - Seaport Research PartnersMadeline Elizabeth Daleiden - JPMorgan Chase & Co, Research DivisionRyan Michael Kenny - Morgan Stanley, Research DivisionOperatorGood day, ladies and gentlemen. Thank you for standing by, and welcome to the Houlihan Lokey Fiscal First Quarter 2026 Earnings Conference Call. [Operator Instructions] Please note that this conference call is being recorded today, 29th of July 2025.I'll now turn the call over to the company. Please go ahead.Christopher M. CrainMD, General Counsel & SecretaryThank you, operator, and hello, everyone. By now, everyone should have access to our first quarter fiscal year 2026 earnings release, which can be found on the Houlihan Lokey website at www.hl.com in the Investor Relations section.Before we begin our formal remarks, we need to remind everyone that the discussion today will include forward-looking statements. These forward-looking statements, which are usually identified by use of words such as will, expect, anticipate, should or other similar phrases are not guarantees of future performance. These statements are subject to numerous risks and uncertainties that could cause actual results to differ materially from what we expect and therefore, you should exercise caution when interpreting and relying on them.We refer all of you to our recent SEC filings for a more