Horizon Tech Finance Reports Q3 2024 Results
Ticker: HTFC · Form: 10-Q · Filed: Oct 29, 2024 · CIK: 1487428
Sentiment: neutral
Topics: 10-Q, financials, portfolio-update
TL;DR
**Horizon Tech Finance Q3: NAV steady at $19.80, assets $733M, liabilities $28.7M. No major portfolio stakes left.**
AI Summary
Horizon Technology Finance Corp. reported its Q3 2024 results, with total assets reaching $733.2 million and total liabilities at $28.7 million as of September 30, 2024. The company's net asset value (NAV) per share was $19.80, compared to $19.80 for the same period in 2023. The filing also details changes in its investment portfolio, noting that as of September 30, 2023, the company no longer owns 5% or more of any portfolio company.
Why It Matters
This filing provides insight into Horizon Technology Finance Corp.'s financial health and investment performance, which can influence investor decisions and the company's ability to fund future ventures.
Risk Assessment
Risk Level: medium — The company operates in the technology finance sector, which can be subject to market volatility and specific industry risks.
Key Numbers
- $733.2M — Total Assets (As of September 30, 2024, indicating the company's overall size.)
- $28.7M — Total Liabilities (As of September 30, 2024, showing the company's debt obligations.)
- $19.80 — NAV per Share (As of September 30, 2024, reflecting the value attributable to each share.)
- 20240930 — Reporting Period End Date (The end of the third quarter for which financial results are reported.)
- 20230930 — Prior Year Period End Date (For comparison of financial performance year-over-year.)
Key Players & Entities
- Horizon Technology Finance Corp. (company) — Filer of the 10-Q report
- 20240930 (date) — End of the reporting period
- $733.2 million (dollar_amount) — Total assets as of September 30, 2024
- $28.7 million (dollar_amount) — Total liabilities as of September 30, 2024
- $19.80 (dollar_amount) — Net asset value per share as of September 30, 2024
FAQ
What was Horizon Technology Finance Corp.'s total asset value at the end of Q3 2024?
As of September 30, 2024, Horizon Technology Finance Corp.'s total assets were $733,232,000.
What was the net asset value (NAV) per share for Horizon Technology Finance Corp. as of September 30, 2024?
The NAV per share was $19.80 as of September 30, 2024.
Did Horizon Technology Finance Corp. hold significant stakes (5% or more) in any portfolio companies as of September 30, 2023?
No, as of September 30, 2023, the Company no longer owns 5% or more of the portfolio company.
What were the total liabilities of Horizon Technology Finance Corp. at the end of the reporting period?
Total liabilities were $28,677,000 as of September 30, 2024.
How does the NAV per share compare to the previous year's period?
The NAV per share was $19.80 as of September 30, 2024, which is the same as the NAV per share for the period ending September 30, 2023.
Filing Stats: 4,942 words · 20 min read · ~16 pages · Grade level 4.5 · Accepted 2024-10-29 16:30:59
Key Financial Figures
- $0.001 — ZN" on the Nasdaq Global Select Market, $0.001 par value per share, outstanding as of
Filing Documents
- hrzn20240930_10q.htm (10-Q) — 8602KB
- ex_716118.htm (EX-31.1) — 10KB
- ex_716119.htm (EX-31.2) — 10KB
- ex_716120.htm (EX-32.1) — 5KB
- ex_716121.htm (EX-32.2) — 5KB
- 0001437749-24-032485.txt ( ) — 38888KB
- hrzn-20240930.xsd (EX-101.SCH) — 103KB
- hrzn-20240930_cal.xml (EX-101.CAL) — 28KB
- hrzn-20240930_def.xml (EX-101.DEF) — 563KB
- hrzn-20240930_lab.xml (EX-101.LAB) — 492KB
- hrzn-20240930_pre.xml (EX-101.PRE) — 595KB
- hrzn20240930_10q_htm.xml (XML) — 13574KB
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 51 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 68 Item 4.
Controls and Procedures
Controls and Procedures 69 PART II Item 1.
Legal Proceedings
Legal Proceedings 69 Item 1A.
Risk Factors
Risk Factors 69 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 70 Item 3. Defaults Upon Senior Securities 70 Item 4. Mine Safety Disclosures 70 Item 5. Other Information 70 Item 6. Exhibits 70
Signatures
Signatures 71 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) September 30, December 31, 2024 2023 (Unaudited) Assets Non-affiliate investments at fair value (cost of $ 680,401 and $ 716,077 , respectively) $ 655,962 $ 693,730 Non-controlled affiliate investments at fair value (cost of $ 27,478 and $ 28,677 , respectively) (Note 5) 8,307 1,132 Controlled affiliate investments at fair value (cost of $ 25,353 and $ 14,428 , respectively) (Note 5) 19,731 14,223 Total investments at fair value (cost of $ 733,232 and $ 759,182 , respectively) (Note 4) 684,000 709,085 Cash 52,302 46,630 Investments in money market funds 31,080 26,450 Restricted investments in money market funds 3,266 2,642 Interest receivable 15,789 13,926 Other assets 6,637 3,623 Total assets $ 793,074 $ 802,356 Liabilities Borrowings (Note 7) $ 433,969 $ 462,235 Distributions payable 12,475 11,011 Base management fee payable (Note 3) 1,025 1,052 Other accrued expenses 3,072 4,077 Total liabilities 450,541 478,375 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 September 30, 2024 and December 31, 2023 — — Common stock, par value $ 0.001 per share, 100,000,000 shares authorized, 37,970,529 and 33,534,854 shares issued and 37,803,064 and 33,367,389 shares outstanding as of September 30, 2024 and December 31, 2023, respectively 42 36 Paid-in capital in excess of par 500,345 450,949 Distributable loss ( 157,854 ) ( 127,004 ) Total net assets 342,533 323,981 Total liabilities and net assets $ 793,074 $ 802,356 Net asset value per common share $ 9.06 $ 9.71 See Notes to Consolidated Financial Statements 3 Table of Contents Horizon Technology Finance