分组1 - Hercules Capital reported quarterly earnings of $0.45 per share, missing the Zacks Consensus Estimate of $0.46 per share, and down from $0.50 per share a year ago, representing an earnings surprise of -2.17% [1] - The company posted revenues of $119.51 million for the quarter ended March 2025, missing the Zacks Consensus Estimate by 1.91%, and down from $121.55 million year-over-year [2] - Hercules Capital shares have declined approximately 10.9% since the beginning of the year, compared to a decline of 5.3% for the S&P 500 [3] 分组2 - The current consensus EPS estimate for the upcoming quarter is $0.48 on revenues of $127.87 million, and for the current fiscal year, it is $1.95 on revenues of $518.51 million [7] - The Zacks Industry Rank for Financial - SBIC & Commercial Industry is currently in the bottom 43% of over 250 Zacks industries, indicating potential underperformance compared to the top 50% of ranked industries [8]

Financial Performance - Net investment income (NII) for Q1 2025 was $77.5 million, or $0.45 per share, providing 113% coverage of the base cash distribution[1] - Total investment income decreased to $119.5 million in Q1 2025, down from $121.6 million in Q1 2024[15] - Net investment income for the three months ended March 31, 2025, was $77,458,000, a decrease from $79,162,000 for the same period in 2024[62] - Total investment income for the three months ended March 31, 2025, was $119,511,000, down from $121,553,000 in 2024[62] - The core yield for the three months ended March 31, 2025, was 12.6%, down from 12.9% as of December 31, 2024[64] Assets and Liabilities - As of March 31, 2025, Hercules had over $5.0 billion in assets under management, an increase of 11.0% year-over-year[1] - Total assets as of March 31, 2025, were $4,031,211,000, an increase from $3,831,591,000 as of December 31, 2024[59] - Total liabilities as of March 31, 2025, were $2,030,581,000, compared to $1,842,010,000 as of December 31, 2024[59] Investment Portfolio - The company achieved a net debt portfolio growth of nearly $270.0 million, marking the second highest level historically[5] - The GAAP effective yield on the debt investment portfolio was 13.0% in Q1 2025, compared to 13.7% in Q4 2024[13] - The weighted average grade of the debt investment portfolio was 2.31 as of March 31, 2025, compared to 2.26 as of December 31, 2024[22] - As of March 31, 2025, 98.0% of the debt investment portfolio was priced at floating interest rates, indicating a high sensitivity to interest rate changes[40] - The company had two debt investments on non-accrual with an investment cost of approximately $72.2 million and a fair value of $19.6 million, representing 1.8% and 0.5% of the total investment portfolio at cost and value, respectively[25] Liquidity and Commitments - The company ended Q1 2025 with $615.6 million in available liquidity, including $51.2 million in unrestricted cash and cash equivalents[28] - Hercules had $455.7 million of available unfunded commitments, representing 11.3% of total assets, which remained stable from the previous quarter[34] - Hercules closed $1.02 billion in new debt and equity commitments in Q1 2025, with pending commitments of $682.5 million in signed non-binding term sheets as of April 28, 2025[35] Shareholder Value - The net asset value (NAV) was $11.55, a decrease of 0.9% from Q4 2024[8] - The net asset value (NAV) as of March 31, 2025, was $2.00 billion, with NAV per share decreasing by 0.9% to $11.55[39] - The net asset value per share as of March 31, 2025, was $11.55, slightly down from $11.66 as of December 31, 2024[59] - The company sold 2.0 million shares of common stock under the equity ATM program for total net proceeds of $39.4 million during Q1 2025[29] Ratings and Acquisitions - Hercules reported an investment grade rating upgrade to BBB (high) from Morningstar DBRS, reflecting its scale and diversified investment platform[5] - Hercules' portfolio company Voyager Technologies, Inc. confidentially filed for an IPO under the JOBS Act in January 2025, with an initial venture debt commitment of $58.0 million starting June 2024[49] - bluebird bio, Inc. was acquired for approximately $96.0 million by funds managed by Carlyle and SK Capital Partners LP, with Hercules having committed $125.0 million in venture debt financing[49] - Next Insurance, Inc. signed a definitive agreement to be acquired by Munich RE for $2.6 billion in cash, with Hercules committing $12.5 million in venture debt financing[49] - 3Gtms, LLC was acquired by Descartes Systems Group for approximately $115.0 million, with Hercules having committed $41.3 million in venture debt financing[49]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 _________________________________________________ FORM 10-Q _________________________________________________ (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For The Quarterly Period Ended March 31, 2025 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 814-00702 _________________________________________________ HERCULE ...

Core Viewpoint - Analysts forecast Hercules Capital (HTGC) will report quarterly earnings of $0.46 per share, indicating a year-over-year decline of 8%, while revenues are expected to reach $121.83 million, reflecting a slight increase of 0.2% compared to the previous year [1]. Earnings Estimates - The consensus EPS estimate for the quarter has remained unchanged over the last 30 days, indicating that analysts have collectively reevaluated their initial estimates during this period [2]. - Revisions to earnings estimates are crucial for predicting potential investor actions regarding the stock, with empirical research showing a strong correlation between earnings estimate trends and short-term stock price performance [3]. Key Metrics Forecast - Analysts estimate 'Total Fee Income' to be $6.02 million, up from $5.77 million in the same quarter last year [5]. - The average prediction for 'Total interest and dividend income' is $115.81 million, slightly higher than the year-ago figure of $115.78 million [5]. - 'Fee Income- Non-control/Non-affiliate investments' is forecasted to reach $6.46 million, compared to $5.74 million from the previous year [5]. - 'Interest and dividend income- Non-control/Non-affiliate investments' is expected to be $112.37 million, down from $112.82 million reported in the same quarter last year [6]. Market Performance - Over the past month, Hercules Capital shares have recorded a return of -7%, while the Zacks S&P 500 composite has changed by -4.3%. Based on its Zacks Rank 3 (Hold), HTGC is likely to perform in line with the overall market in the upcoming period [6].

In the latest trading session, Hercules Capital (HTGC) closed at $17.41, marking a +1.52% move from the previous day. The stock's performance was behind the S&P 500's daily gain of 2.51%. Meanwhile, the Dow experienced a rise of 2.66%, and the technology-dominated Nasdaq saw an increase of 2.71%. Shares of the specialty finance company have depreciated by 11.23% over the course of the past month, underperforming the Finance sector's loss of 7.03% and the S&P 500's loss of 8.86%. Investors will be eagerly wa ...