Hercules Technology Growth Capital ( (HTGC) ) has realeased its Q3 earnings. Here is a breakdown of the information Hercules Technology Growth Capital presented to its investors.
Hercules Capital, Inc. is a leading specialty finance company providing senior secured venture growth loans to innovative companies in technology and life sciences sectors. In its latest third quarter earnings report for 2024, Hercules Capital announced a record total investment income of $125.2 million, reflecting a 7.3% increase year-over-year. The net investment income was reported at $83.2 million, or $0.51 per share, marking an 8.3% growth compared to the previous year.
Key financial highlights include total gross debt and equity commitments of $430.7 million and total gross fundings of $272.0 million. The company’s balance sheet remains robust with a net GAAP leverage of 92.5% and net regulatory leverage of 83.0%. The assets under management surged to approximately $4.6 billion, an increase of 10.9% year-over-year, showcasing the company’s solid growth trajectory.
Hercules Capital’s undistributed earnings spillover stands at $152.1 million, translating to $0.94 per ending shares outstanding. This performance underscores Hercules’ strategic management and operational efficiency in the competitive field of venture growth financing.
Looking ahead, Hercules Capital’s management remains optimistic about sustaining its growth momentum by continuing to support high-growth, innovative companies. This outlook is underpinned by the company’s strategic approach and robust financial health, positioning it well for future advancements.
