Hennessy Advisors, Inc. announced its financial results for the first fiscal quarter of 2025, which concluded on December 31, 2024, on February 13, 2025. The company reported a 125.0% increase in diluted earnings per share, reaching $0.36, up from $0.16 in the comparable prior-year quarter. Total revenue for the quarter surged by 58.0% to $9,707,818, compared to $6,143,843 in the first fiscal quarter of 2024.
Net income for the quarter more than doubled, increasing by 136.2% to $2,834,223 from $1,200,095 in the prior-year period. Average assets under management (AUM) grew by 58.8% to $4.82 billion, while total AUM as of December 31, 2024, reached $4.78 billion, a 45.7% increase from $3.28 billion a year prior.
The company's cash position, net of debt, strengthened by nearly 30% over the last twelve months, reaching $24,728,893. This financial performance reflects strong product performance and effective distribution and marketing strategies, contributing to a solid start for fiscal year 2025.
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