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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.
Hercules Capital
Hercules Capital
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