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Mar 31, 2023
Hercules Capital Q1 2023 Earnings Report
Hercules Capital's Q1 2023 financial results were reported, showcasing record total gross fundings and investment income, alongside a substantial increase in net investment income.
Key Takeaways
Hercules Capital reported record Q1 2023 results, including total gross fundings of $476.2 million and total investment income of $105.1 million. Net investment income (NII) reached $65.5 million, or $0.48 per share, representing an 83.0% year-over-year increase. The company had approximately $1.0 billion of available liquidity at quarter end.
Record total investment income of $105.1 million, an increase of 61.3% year-over-year.
Record net investment income of $65.5 million, or $0.48 per share, an increase of 83.0% year-over-year.
Total gross debt and equity commitments of $526.0 million.
Record Q1 total gross fundings of $476.2 million.
Forward Guidance
Hercules will carefully navigate the tremendous market opportunity created by the recent banking crisis, utilizing the same guideposts that delivered our outstanding financial and credit performance in 2022 – maintaining strong liquidity, staying disciplined on credit and new underwritings and further expanding our platform capabilities.
Positive Outlook
- Maintaining strong liquidity
- Staying disciplined on credit
- Staying disciplined on new underwritings
- Further expanding our platform capabilities
- New institutional credit lending program will provide us with the additional capacity to capitalize on these new opportunities
Historical Earnings Impact
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Avg. Return Before/After Earnings
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