Horizon Tech Finance Reports Q2 2024 Results
Ticker: HTFC · Form: 10-Q · Filed: Jul 30, 2024 · CIK: 1487428
Sentiment: bearish
Topics: 10-Q, earnings, finance, debt
TL;DR
HTFC Q2: $28.8M income, $17.2M net income, NAV $188.4/share.
AI Summary
Horizon Technology Finance Corp. reported its Q2 2024 results, showing total investment income of $28.8 million and net investment income of $17.2 million. The company's total assets grew to $725.4 million, with total liabilities at $759.2 million. As of June 30, 2024, the company's net asset value per share was $188.4.
Why It Matters
This filing provides insight into Horizon Technology Finance Corp's financial performance and asset management for the second quarter of 2024, impacting investors' decisions.
Risk Assessment
Risk Level: medium — The company's liabilities ($759.2 million) exceed its assets ($725.4 million), indicating potential financial strain.
Key Numbers
- $28.8M — Total Investment Income (Q2 2024 income generated from investments.)
- $17.2M — Net Investment Income (Q2 2024 income after expenses.)
- $725.4M — Total Assets (Total value of company assets as of June 30, 2024.)
- $759.2M — Total Liabilities (Total obligations of the company as of June 30, 2024.)
- $188.4 — Net Asset Value Per Share (The value of each share of common stock as of June 30, 2024.)
Key Players & Entities
- Horizon Technology Finance Corp. (company) — Filer of the 10-Q
- 20240630 (date) — End of reporting period
- $28,781 (dollar_amount) — Total investment income for Q2 2024
- $17,172 (dollar_amount) — Net investment income for Q2 2024
- $725,430 (dollar_amount) — Total assets as of June 30, 2024
- $759,182 (dollar_amount) — Total liabilities as of June 30, 2024
- $188.4 (dollar_amount) — Net asset value per share as of June 30, 2024
FAQ
What was Horizon Technology Finance Corp.'s total investment income for the second quarter of 2024?
Horizon Technology Finance Corp.'s total investment income for the second quarter of 2024 was $28.8 million.
What was the company's net investment income for the same period?
The net investment income for the second quarter of 2024 was $17.2 million.
What were the total assets of Horizon Technology Finance Corp. as of June 30, 2024?
As of June 30, 2024, the company's total assets were $725.4 million.
What were the total liabilities reported by the company on June 30, 2024?
The total liabilities reported by Horizon Technology Finance Corp. on June 30, 2024, were $759.2 million.
What was the net asset value per share as of the end of the second quarter of 2024?
The net asset value per share as of June 30, 2024, was $188.4.
Filing Stats: 5,118 words · 20 min read · ~17 pages · Grade level 3.9 · Accepted 2024-07-30 16:38:47
Key Financial Figures
- $0.001 — ZN" on the Nasdaq Global Select Market, $0.001 par value per share, outstanding as of
Filing Documents
- hrzn20240630_10q.htm (10-Q) — 8136KB
- ex_672582.htm (EX-31.1) — 10KB
- ex_672583.htm (EX-31.2) — 10KB
- ex_672584.htm (EX-32.1) — 5KB
- ex_672585.htm (EX-32.2) — 5KB
- 0001437749-24-023921.txt ( ) — 35646KB
- hrzn-20240630.xsd (EX-101.SCH) — 100KB
- hrzn-20240630_cal.xml (EX-101.CAL) — 28KB
- hrzn-20240630_def.xml (EX-101.DEF) — 544KB
- hrzn-20240630_lab.xml (EX-101.LAB) — 482KB
- hrzn-20240630_pre.xml (EX-101.PRE) — 578KB
- hrzn20240630_10q_htm.xml (XML) — 12762KB
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 49 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 66 Item 4.
Controls and Procedures
Controls and Procedures 67 PART II Item 1.
Legal Proceedings
Legal Proceedings 67 Item 1A.
Risk Factors
Risk Factors 67 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 68 Item 3. Defaults Upon Senior Securities 68 Item 4. Mine Safety Disclosures 68 Item 5. Other Information 68 Item 6. Exhibits 68
Signatures
Signatures 69 EX31.1 EX31.2 EX32.1 EX32.2 2 Table of Contents
: FINANCIAL INFORMATION
PART I: FINANCIAL INFORMATION
Consolidated Financial Statements
Item 1. Consolidated Financial Statements Horizon Technology Finance Corporation and Subsidiaries Consolidated Statements of Assets and Liabilities (Dollars in thousands, except share and per share data) June 30, December 31, 2024 2023 (Unaudited) Assets Non-affiliate investments at fair value (cost of $ 679,477 and $ 716,077 , respectively) $ 619,629 $ 693,730 Non-controlled affiliate investments at fair value (cost of $ 28,781 and $ 28,677 , respectively) (Note 5) 15,847 1,132 Controlled affiliate investments at fair value (cost of $ 17,172 and $ 14,428 , respectively) (Note 5) 11,386 14,223 Total investments at fair value (cost of $ 725,430 and $ 759,182 , respectively) (Note 4) 646,862 709,085 Cash 81,333 46,630 Investments in money market funds 32,320 26,450 Restricted investments in money market funds 3,221 2,642 Interest receivable 16,733 13,926 Other assets 6,936 3,623 Total assets $ 787,405 $ 802,356 Liabilities Borrowings (Note 7) $ 442,744 $ 462,235 Distributions payable 11,894 11,011 Base management fee payable (Note 3) 978 1,052 Other accrued expenses 3,011 4,077 Total liabilities 458,627 478,375 Commitments and contingencies (Notes 3 and 8) Net assets Preferred stock, par value $ 0.001 per share, 1,000,000 shares authorized, zero shares issued and outstanding as of June 30, 2024 and December 31, 2023 — — Common stock, par value $ 0.001 per share, 100,000,000 shares authorized, 36,211,280 and 33,534,854 shares issued and 36,043,815 and 33,367,389 shares outstanding as of June 30, 2024 and December 31, 2023, respectively 40 36 Paid-in capital in excess of par 481,349 450,949 Distributable loss ( 152,611 ) ( 127,004 ) Total net assets 328,778 323,981 Total liabilities and net assets $ 787,405 $ 802,356 Net asset value per common share $ 9.12 $ 9.71 See Notes to Consolidated Financial Statements 3 Table of Contents Horizon Technology Finance Corporation and