Hercules Capital Q2 2024 10-Q Filed

TL;DR

**HTGC Q2 10-Q is IN! Shows investments and debt details. Looks stable.**

AI Summary

Hercules Capital, Inc. filed its 10-Q for the period ending June 30, 2024. The company reported its financial position, including investments in unaffiliated and affiliated issuers. Key financial instruments and debt obligations, such as the Six Point Two Five Notes Due Two Thousand Thirty Three, are detailed within the filing.

Why It Matters

This filing provides insight into Hercules Capital's investment portfolio and financial health, crucial for understanding its lending activities and stability in the venture debt market.

Risk Assessment

Risk Level: medium — The filing details financial instruments and debt, which inherently carry market and credit risks.

Key Numbers

• N/A — Total Assets (Specific asset figures were not readily extractable in a summarized format from the provided text snippet.)
• N/A — Total Liabilities (Specific liability figures were not readily extractable in a summarized format from the provided text snippet.)
• N/A — Net Income (Specific net income figures were not readily extractable in a summarized format from the provided text snippet.)

Key Players & Entities

• Hercules Capital, Inc. (company) — Filer of the 10-Q
• 20240630 (date) — End of the reporting period
• Six Point Two Five Notes Due Two Thousand Thirty Three (dollar_amount) — Specific debt instrument mentioned

FAQ

Key Financial Figures

• $0.001 — ch registered Common Shares, par value $0.001 per share HTGC New York Stock Exchange

Filing Documents

• htgc-20240630.htm (10-Q) — 7158KB
• htgc-20240630xexx101.htm (EX-10.1) — 1235KB
• htgc-20240630xexx102.htm (EX-10.2) — 1484KB
• htgcq2202410q-exx311.htm (EX-31.1) — 10KB
• htgcq2202410q-exx312.htm (EX-31.2) — 10KB
• htgcq2202410q-exx321.htm (EX-32.1) — 5KB
• htgcq2202410q-exx322.htm (EX-32.2) — 4KB
• htgcq2202410qcleancopy.pdf (10-Q) — 11057KB
• 0001280784-24-000020.txt ( ) — 48601KB
• htgc-20240630.xsd (EX-101.SCH) — 116KB
• htgc-20240630_cal.xml (EX-101.CAL) — 73KB
• htgc-20240630_def.xml (EX-101.DEF) — 663KB
• htgc-20240630_lab.xml (EX-101.LAB) — 1034KB
• htgc-20240630_pre.xml (EX-101.PRE) — 845KB
• htgc-20240630_htm.xml (XML) — 7555KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION 3 Item 1. Consolidated Financial Statements 3 Consolidated Statements of Assets and Liabilities as of June 3 0 , 2024 (unaudited) and December 31, 2023 3 Consolidated Statements of Operations for the three and six months ended June 3 0 , 2024 and 2023 (unaudited) 4 Consolidated Statements of Changes in Net Assets for the three and six months ended June 3 0 , 2024 and 2023 (unaudited) 5 Consolidated Statements of Cash Flows for the six months ended June 3 0 , 2024 and 2023 (unaudited) 6 Consolidated Schedule of Investments as of June 3 0 , 2024 (unaudited) 7 Consolidated Schedule of Investments as of December 31, 2023 21

Notes to Consolidated Financial Statements (unaudited)

Notes to Consolidated Financial Statements (unaudited) 35 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 70 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 86 Item 4.

Controls and Procedures

Controls and Procedures 87

OTHER INFORMATION

PART II. OTHER INFORMATION 88 Item 1.

Legal Proceedings

Legal Proceedings 88 Item 1A.

Risk Factors

Risk Factors 88 Item 2. Unregistered Sales of Equity Securities, Use of Proceeds, and Issuer Purchases of Equity Securities 89 Item 3. Defaults Upon Senior Securities 89 Item 4. Mine Safety Disclosures 89 Item 5. Other Information 89 Item 6. Exhibits and Financial Statement Schedules 90

SIGNATURES

SIGNATURES 95 Table of Contents

: FINANCIAL INFORMATION

PART I: FINANCIAL INFORMATION In this Quarterly Report, the "Company," "Hercules," "we," "us" and "our" refer to Hercules Capital, Inc., its wholly owned subsidiaries, and its affiliated securitization trust unless the context otherwise requires.

CONSOLIDATED FINANCIAL STATEMENTS

ITEM 1. CONSOLIDATED FINANCIAL STATEMENTS HERCULES CAPITAL, INC. CONSOLIDATED STATEMENTS OF ASSETS AND LIABILITIES (in thousands, except per share data) June 30, 2024 December 31, 2023 (unaudited) Assets Investments, at fair value: Non-control/Non-affiliate investments (cost of $ 3,505,346 and $ 3,143,851 , respectively) $ 3,457,280 $ 3,133,042 Control investments (cost of $ 103,772 and $ 103,182 , respectively) 111,259 115,004 Total investments, at fair value (cost of $ 3,609,118 and $ 3,247,033 , respectively; fair value amounts related to a VIE $ 262,917 and $ 254,868 , respectively) 3,568,539 3,248,046 Cash and cash equivalents 27,676 98,899 Restricted cash (amounts related to a VIE $ 11,242 and $ 17,114 , respectively) 11,242 17,114 Interest receivable 31,533 32,741 Right of use asset 18,104 4,787 Other assets 15,042 15,339 Total assets $ 3,672,136 $ 3,416,926 Liabilities Debt (net of debt issuance costs - Note 5; amounts related to a VIE $ 148,838 and $ 148,544 , respectively) $ 1,747,127 $ 1,554,869 Accounts payable and accrued liabilities 49,519 54,156 Operating lease liability 18,945 5,195 Total liabilities $ 1,815,591 $ 1,614,220 Net assets consist of: Common stock, par value $ 163 $ 158 Capital in excess of par value 1,737,478 1,662,535 Total distributable earnings 118,904 140,013 Total net assets $ 1,856,545 $ 1,802,706 Total liabilities and net assets $ 3,672,136 $ 3,416,926 Shares of common stock outstanding ($ 0.001 par value and 200,000 authorized) 162,428 157,758 Net asset value per share $ 11.43 $ 11.43 See notes to consolidated financial statements 3 Table of Contents HERCULES CAPITAL, INC. CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) (in thousands, except per share data) Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Investment income: Interest and dividend income: Non-control/Non-affiliate investments $ 114,072 $ 107,931 $ 226,894 206,712 Control investments 3

View Full Filing

View this 10-Q filing on SEC EDGAR