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Jun 30, 2023
Horizon Technology Q2 2023 Earnings Report
Announced second quarter 2023 financial results.
Key Takeaways
Horizon Technology Finance reported a strong second quarter, with net investment income exceeding distributions, driven by a debt portfolio yield of over 16%. The company strengthened its balance sheet through common stock offerings and increased credit facility capacity.
Net investment income was $16.1 million, or $0.54 per share.
Total investment portfolio was $715.4 million as of June 30, 2023.
Net asset value was $355.4 million, or $11.07 per share, as of June 30, 2023.
Annualized portfolio yield on debt investments was 16.3% for the quarter.
Forward Guidance
With a stronger balance sheet and disciplined underwriting, Horizon believes it can further prudently grow HRZN’s portfolio of debt investments and deliver additional value to HRZN’s shareholders.
Positive Outlook
- Stronger balance sheet
- Disciplined underwriting
- Potential to grow HRZN’s portfolio of debt investments
- Potential to deliver additional value to HRZN’s shareholders
- Increased commitment of senior secured debt facility by $50 million
Challenges Ahead
- Statements included may constitute forward-looking statements which involve risks and uncertainties.
- Actual results may differ materially from those in the forward-looking statements
- The company does not undertake any duty to update any forward-looking statement made
- Much of our committed backlog is subject to our portfolio companies achieving milestones.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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