LCLN
LCLNCIK 0001925283
Mid by assets
Assets $998M
as of Oct 11, 2026
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8-K
Filed Aug 14, 2026
· Period ending Aug 12, 2026
Summary not yet generated.
10-Q
Filed Aug 10, 2026
· Period ending Jun 30, 2026
Summary not yet generated.
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8-K
Filed Aug 6, 2026
· Period ending Aug 6, 2026
Summary not yet generated.
8-K
Filed May 26, 2026
· Period ending May 19, 2026
Summary not yet generated.
S-1/A
Filed May 14, 2026
Red flag
Lincoln International files S-1/A for IPO of 20.6M Class A shares at $19.00, raising $368M net for company
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Latest financial statements
From 10-Q filed Aug 10, 2026 (period ending Jun 30, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.
Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited)
($ in thousands, except share data)
| Description | Three months ended June 30, 2026 | Three months ended June 30, 2025 | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|---|---|
| Revenues | 225,693 | 149,658 | 383,493 | 281,866 |
| Expenses: | ||||
| Compensation and benefits | 145,782 | 70,798 | 241,879 | 141,127 |
| Travel and related expenses | 9,696 | 7,287 | 17,770 | 12,929 |
| Rent and occupancy | 8,139 | 7,553 | 16,078 | 14,562 |
| Technology and information services | 4,974 | 4,894 | 9,951 | 9,188 |
| Professional services and development | 18,383 | 9,187 | 26,997 | 15,255 |
| Depreciation and amortization | 19,253 | 11,152 | 38,489 | 21,556 |
| Other operating expenses, net | 35,346 | 6,644 | 42,262 | 12,195 |
| Total expenses | 241,573 | 117,515 | 393,426 | 226,812 |
| Total operating income (loss) | (15,880) | 32,143 | (9,933) | 55,054 |
| Other income (expense), net | (5,549) | 1,727 | (9,508) | 3,609 |
| Income (loss) before income taxes | (21,429) | 33,870 | (19,441) | 58,663 |
| Provision for income taxes | 1,521 | 328 | 1,585 | 1,171 |
| Net income (loss) | (22,950) | 33,542 | (21,026) | 57,492 |
| Less: Net income (loss) attributable to noncontrolling interests | (23,405) | (295) | (21,481) | (935) |
| Net income (loss) attributable to Lincoln International Inc. | 455 | 33,837 | 455 | 58,427 |
| Other comprehensive income (loss): | ||||
| Foreign currency translation adjustment | (1,439) | 3,495 | (3,875) | 5,429 |
| Comprehensive income (loss) | (24,389) | 37,037 | (24,901) | 62,921 |
| Weighted average shares of Class A common stock outstanding: | ||||
| Basic | 36,280,899 | 36,280,899 | ||
| Diluted | 40,017,177 | 40,017,177 | ||
| Net income per share attributable to holders of Class A common stock: | ||||
| Basic | 0.01 | 0.01 | ||
| Diluted | 0.01 | 0.01 | ||
Condensed Consolidated Balance Sheets (Unaudited)
($ in thousands, except share data)
| Description | June 30, 2026 | December 31, 2025 |
|---|---|---|
| Assets | ||
| Cash and cash equivalents | 250,624 | 320,169 |
| Restricted cash | 4,790 | 4,658 |
| Receivables: | ||
| Client accounts receivable, net of allowance | 105,820 | 160,225 |
| Related-party receivables | 6,815 | 28,583 |
| Total receivables | 112,635 | 188,808 |
| Prepaid expenses | 17,648 | 17,458 |
| Other assets | 12,083 | 12,013 |
| Property and equipment, net | 54,475 | 57,597 |
| Other intangible assets, net | 82,445 | 115,903 |
| Deferred tax assets | 74,737 | 9,525 |
| Goodwill | 277,966 | 274,470 |
| Right-of-use lease asset | 110,375 | 117,537 |
| Total assets | 997,778 | 1,118,138 |
| Liabilities, Redeemable Noncontrolling Interest and Stockholders' Equity | ||
| Liabilities | ||
| Compensation payable | 127,767 | 138,404 |
| Accounts payable, accrued expenses and other liabilities | 98,145 | 112,139 |
| Long-term debt | 101,929 | 270,374 |
| Amount due pursuant to tax receivable agreement | 84,764 | — |
| Income tax payable | 7,969 | 9,770 |
| Lease liability | 139,898 | 148,845 |
| Total liabilities | 560,472 | 679,532 |
| Commitments and contingencies (Note 10) | ||
| Redeemable noncontrolling interest | 7,266 | 7,420 |
| Stockholders' Equity | ||
| Partners' Equity | — | 431,186 |
| Class A common stock, par value $0.00001 per share (650,000,000 shares authorized, 34,846,972 issued and outstanding at June 30, 2026, none authorized, issued, or outstanding at December 31, 2025) | — | — |
| Class B common stock, par value $0.00001 per share (250,000,000 shares authorized, 28,478,208 issued and outstanding at June 30, 2026, none authorized, issued, or outstanding at December 31, 2025) | — | — |
| Class C common stock, par value $0.00001 per share (100,000,000 shares authorized, 38,866,382 issued and outstanding at June 30, 2026, none authorized, issued, or outstanding at December 31, 2025) | — | — |
| Additional paid-in-capital | 134,539 | — |
| Retained earnings (accumulated deficit) | 455 | — |
| Accumulated other comprehensive income (loss) | (439) | — |
| Total equity attributable to Lincoln International, Inc. | 134,555 | — |
| Noncontrolling interest | 295,485 | — |
| Total stockholders' equity | 430,040 | 431,186 |
| Total liabilities, redeemable noncontrolling interest and stockholders' equity | 997,778 | 1,118,138 |
Condensed Consolidated Statements of Cash Flows (Unaudited)
($ in thousands)
| Description | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|
| Cash Flows from Operating Activities | ||
| Net income | (21,026) | 57,492 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Depreciation and amortization | 38,489 | 21,556 |
| Deferred income taxes, net | (689) | (236) |
| Non-cash lease expense | 7,695 | 7,268 |
| Non-cash compensation expense | 3,207 | 1,106 |
| Other non-cash activity | (1,937) | 1,088 |
| Liquidity Event share awards (Note 19) | 28,679 | — |
| Changes in operating assets and liabilities: | ||
| Accounts receivable, net | 56,836 | 30,587 |
| Related-party receivables | 22,218 | (5,439) |
| Prepaid expenses | (293) | (1,466) |
| Income tax receivable | 784 | (263) |
| Other assets | (1,119) | (1,479) |
| Accounts payable and accrued expenses | (11,747) | (7,013) |
| Compensation payable | (8,996) | (15,666) |
| Deferred revenue | 591 | 576 |
| Lease liability | (9,397) | (8,317) |
| Net cash provided by operating activities | 103,295 | 79,794 |
| Cash Flows from Investing Activities | ||
| Purchases of property and equipment, net | (2,485) | (3,749) |
| Net cash used in investing activities | (2,485) | (3,749) |
| Cash Flows from Financing Activities | ||
| IPO proceeds less underwriter discount | 451,528 | — |
| Distributions of IPO proceeds to partners | (254,493) | — |
| Pre-offering distribution to partners | (70,626) | — |
| Distributions to partners | (130,533) | (118,855) |
| Contributions and other | 11,735 | 2,438 |
| Payment of contingent consideration | (3,294) | — |
| Payment on long-term debt | (196,640) | — |
| Proceeds from long-term debt | 25,000 | — |
| Proceeds from line of credit | — | 25,200 |
| Repayment of line of credit | — | (12,200) |
| Net cash used in financing activities | (167,323) | (103,417) |
| Effect of exchange rate changes on cash, cash equivalents, and restricted cash | (2,900) | 6,705 |
| Net decrease in cash, cash equivalents, and restricted cash | (69,413) | (20,667) |
| Cash, cash equivalents, and restricted cash, beginning of period | 324,827 | 228,988 |
| Cash, cash equivalents, and restricted cash, end of period | 255,414 | 208,321 |
| SUPPLEMENTAL CASH FLOWS DISCLOSURE | ||
| Cash paid during the period for: | ||
| Cash paid for income taxes | 4,210 | 315 |
| Cash paid for interest | 11,061 | — |
Amounts as printed on the EDGAR/iXBRL face — ($ in thousands, except share data); ($ in thousands). Labels, columns, and figures are the filing face, not a GAAP stencil. Interactive statements & notes on EDGAR ↗