Roberts Berzins has over a decade of experience in the financial management helping top-tier corporates shape their financial strategies and execute large-scale financings. He has also made significant efforts to institutionalize REIT framework in Latvia to boost the liquidity of pan-Baltic capital markets. Other policy-level work includes the development of national SOE financing guidelines and framework for channeling private capital into affordable housing stock. Roberts is a CFA Charterholder, ESG inves ...

Roberts Berzins has over a decade of experience in the financial management helping top-tier corporates shape their financial strategies and execute large-scale financings. He has also made significant efforts to institutionalize REIT framework in Latvia to boost the liquidity of pan-Baltic capital markets. Other policy-level work includes the development of national SOE financing guidelines and framework for channeling private capital into affordable housing stock. Roberts is a CFA Charterholder, ESG inves ...

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Our originations activity reflects consistent growth in all our verticals across the Trinity platform. A powerful flywheel fueled by our lead team of originators, and we own the pipeline. We do not depend on syndicated deals and have immaterial overlap with other BDCs. All of which give our investors access to a highly differentiated portfolio of investments through our five business verticals. All the while, we remain deeply committed to disciplined underwriting and a credit performance which are the bedro ...

Financial Data and Key Metrics Changes - Trinity Capital reported $75.6 million in total investment income, a 22% year-over-year increase, and $37 million in net investment income, representing a 29% increase compared to Q3 of last year [2][11] - The net asset value (NAV) grew 8% quarter-over-quarter to a record $998 million, with a year-over-year increase of 32% [2][12] - The return on equity was 15.3%, among the highest in the Business Development Company (BDC) space, with a weighted average effective portfolio yield of 15% [11][12] Business Line Data and Key Metrics Changes - The company funded $471 million in Q3, bringing year-to-date investments to $1.1 billion, nearly matching all of 2024's total [3] - The investment pipeline remains robust, with $773 million of new commitments in Q3 and $1.2 billion in total unfunded commitments as of quarter-end [3][4] - Non-accruals remained steady at 1% of the total debt portfolio, with four companies on non-accrual status [15] Market Data and Key Metrics Changes - Portfolio companies collectively raised $2.3 billion in equity capital during Q3, indicating strong borrower performance and access to capital [15] - The largest industry concentration in the portfolio is finance and insurance, accounting for 15% of the portfolio at cost, diversified across 20 borrowers [15] Company Strategy and Development Direction - Trinity Capital is focused on building a scalable platform that can drive earnings and NAV growth, with a commitment to disciplined underwriting and a diversified portfolio across five business verticals [8][10] - The company is strategically raising equity, debt, and off-balance sheet vehicles to fuel growth, including a new joint venture with a large asset manager [6][10] - The management structure aligns interests with shareholders, promoting a commitment to delivering consistent dividends and long-term value [8][9] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the opportunities in the private credit market, highlighting a robust investment pipeline and the potential for incremental upside from warrant positions in portfolio companies [3][10] - The impact of rate cuts on the business has been limited, with most loans including interest rate floors, which helps maintain income levels [5][10] - The company remains focused on maintaining strong credit quality and disciplined underwriting practices [4][15] Other Important Information - The company raised $83 million of equity through its ATM program at a 19% average premium to NAV during Q3 [12] - The net leverage ratio increased slightly to 1.18 times at quarter-end, with no debt maturities until August 2026 [12] Q&A Session Summary Question: Current capacity in off-balance sheet vehicles - Management indicated that there is currently about $200 million of capacity in the new vehicle, with other vehicles being approximately 75% funded [20][24] Question: Capacity of the team for origination and management - Management stated that they have been hiring in advance of growth needs and are currently well-positioned to manage existing verticals without immediate need for additional resources [28][29] Question: Competition in various verticals and deal spreads - Management noted that they do not see the same rate compression as other markets, with their niche verticals experiencing less competition [30][31] Question: Increase in compensation expenses - Management explained that the increase in compensation expenses is due to team growth and the establishment of a new office in the U.K. [37] Question: Portfolio health and watch credits - Management reported a significant decrease in watch credits, indicating improved portfolio health, with overall performance remaining strong [38][63] Question: Nomad Health investment write-off - Management clarified that a significant portion of the Nomad Health investment was converted to equity, and while the remaining debt is on non-accrual, they remain optimistic about the company's future [42][45] Question: Exposure to consumer receivables - Management confirmed that the portfolio has very low exposure to consumer receivables, with a focus on B2B financing [49] Question: Future leverage ratio plans - Management indicated plans to lower the leverage ratio over time, focusing on creating liquidity and generating new income through managed funds [66]

Company Overview - Trinity Capital has provided over $5.1 billion in fundings across 449 investments with 257 exits[8] - The company's portfolio includes $1,678.3 million in secured loans across 97 companies, $318.2 million in equipment financings across 24 companies, and $195.9 million in equity & warrants across 152 companies[8] - As of September 30, 2025, Trinity Capital had $2.6 billion in assets under management[8] - The company's Net Asset Value (NAV) per share was $13.31, with an annualized dividend yield of 13.2%[8] Financial Performance (Q3 2025) - Total investment income reached $75.6 million, resulting in a net investment income (NII) of $37.0 million[44] - The company's net interest margin (NIM) was 10.9%, with a consistent third quarter regular dividend distribution of $0.51 per share[44] - Trinity Capital made $773.0 million in debt & equity commitments, funding $470.6 million in debt & equity across 17 new portfolio companies[44] - Total platform assets under management reached $2,550.5 million at fair value[44] Portfolio Composition & Credit Quality - Total debt investments at cost amounted to $2,034.0 million, with total investments at cost reaching $2,204.8 million[44] - The portfolio is diversified across investment type, industry, and geography, with tech lending, equipment finance, life sciences, asset-based lending and sponsor finance[16] - The company maintains disciplined underwriting standards, resulting in an annualized loss rate of 26 bps[24] - As of September 30, 2025, 82.4% of the debt investment portfolio was floating rate[98]

Trinity Capital (TRIN) came out with quarterly earnings of $0.52 per share, in line with the Zacks Consensus Estimate . This compares to earnings of $0.52 per share a year ago. These figures are adjusted for non-recurring items. A quarter ago, it was expected that this business development company would post earnings of $0.52 per share when it actually produced earnings of $0.53, delivering a surprise of +1.92%.Over the last four quarters, the company has surpassed consensus EPS estimates just once.Trinity ...

Accessibility StatementSkip Navigation Record funding of $471 million Total Investment Income grows 22.3% year-over-year Net Asset Value reaches new high of $998 million PHOENIX, Nov. 5, 2025 /PRNewswire/ -- Trinity Capital Inc. (Nasdaq: TRIN) ("the Company"), a leading alternative asset manager, today announced its financial results for the third quarter ended September 30, 2025. Third Quarter 2025 Highlights "Our strong third quarter results exhibit the power of our disciplined execution and rigid unde ...

Investment Strategy - Trinity Capital Inc. targets investments in growth-oriented companies with expected annual revenues of up to $100 million[389]. - The company aims to generate current income and capital appreciation primarily through term loans, equipment financings, and asset-based lending[388]. - Investments typically have initial interest-only periods of up to 24 months and total terms of up to 60 months[390]. - The company is required to invest at least 70% of total assets in qualifying assets under the 1940 Act[388]. - As of the latest report, substantially all of the company's investments are considered Level 3 assets due to the nature of lending to venture capital-backed companies[405]. Financial Performance - As of September 30, 2025, the company's investment portfolio had an aggregate fair value of approximately $2,192.4 million, up from $1,725.6 million as of December 31, 2024, representing a growth of 27.2%[412]. - The company recorded $1.4 million and $2.7 million in dividend income for the three and nine months ended September 30, 2025, respectively, compared to $0.5 million and $1.0 million for the same periods in 2024, indicating a significant increase of 180% and 170%[410]. - Total investment income for the three months ended September 30, 2025, was approximately $75.6 million, an increase of 22.3% from $61.8 million in the same period of 2024, with an effective yield of 15.0%[432]. - Net investment income for the three months ended September 30, 2025, was approximately $37.0 million, compared to $29.4 million for the same period in 2024, representing a 25.8% increase[440]. - The net realized losses on investments for the three months ended September 30, 2025, were approximately $(20.0) million, compared to $(13.9) million for the same period in 2024[443]. Portfolio Management - The company has engaged independent valuation firms to assist in valuing its investments, particularly those with potential for material fluctuations[401]. - The company's ten largest portfolio companies represented approximately 24.6% of the total fair value of investments as of September 30, 2025, down from 26.7% as of December 31, 2024[417]. - The weighted average time to maturity of the debt in the portfolio was approximately 3.3 years as of September 30, 2025, compared to 3.2 years as of December 31, 2024[415]. - The company’s portfolio management team utilizes an ongoing investment risk rating system to monitor outstanding loans and equipment financings, ensuring proactive risk management[421]. - As of September 30, 2025, loans to three portfolio companies and equipment financings to one portfolio company on non-accrual status totaled approximately $56.2 million, with a fair value of approximately $20.7 million, representing 1.0% of the Company's debt investment portfolio[430]. Capital Structure and Financing - The company completed its initial public offering on February 2, 2021, raising capital through the sale of 8,006,291 shares at $14.00 per share[393]. - The company received an aggregate of $607.8 million in proceeds from repayments and sales of investments during the nine months ended September 30, 2025, including $224.3 million from early repayments on debt investments[418]. - The asset coverage ratio as of September 30, 2025, was approximately 184.2%, allowing the company to potentially borrow $2 for every $1 of investor equity[459]. - Total contractual obligations as of September 30, 2025, amounted to $1,191.758 million, with $125.354 million due within one year[465]. - The company intends to pay quarterly distributions to stockholders, with the most recent distribution of $0.51 per share declared for September 30, 2025[466][467]. Market and Risk Factors - The company is subject to financial market risks, including valuation risk and interest rate risk, which could materially impact its market risks[479]. - The company may hedge against interest rate and currency exchange rate fluctuations using standard hedging instruments, which could limit its ability to benefit from lower interest rates[486]. - The company’s net income could be impacted by hypothetical changes in interest rates, with a 300 basis points increase in the Prime Rate potentially resulting in a net income increase of $34.931 million[484]. - The company has minimal exposure to currency risk as payments from foreign domiciled portfolio companies are primarily received in U.S. dollars[485]. Stock Performance - As of November 3, 2025, the last reported closing sales price of the common stock was $15.12 per share, representing a premium of approximately 13.6% to the net asset value per share of $13.31[470]. - The net asset value per share is determined at the end of each quarter and may not reflect the value on the date of high and low closing sales prices[471]. - The company’s shares may trade at a market price that is less than the net asset value per share, with potential for trading at unsustainable premiums or discounts[472]. Corporate Governance - The company formed a wholly-owned subsidiary, Trinity Capital Adviser LLC, to provide investment advisory services[394]. - The company has entered into indemnification agreements with its directors and executive officers to provide maximum indemnification permitted under Maryland law[474].

Exhibit 99.1 Trinity Capital Inc. Reports Third Quarter 2025 Financial Results Record funding of $471 million Total Investment Income grows 22.3% year-over-year Net Asset Value reaches new high of $998 million PHOENIX, November 5, 2025 – Trinity Capital Inc. (Nasdaq: TRIN) ("Trinity Capital" or "the Company"), a leading alternative asset manager, today announced its financial results for the third quarter ended September 30, 2025. Third Quarter 2025 Highlights "Our strong third quarter results exhibit the p ...