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Jun 30, 2021
Hercules Capital Q2 2021 Earnings Report
Announced financial results for the second quarter ended June 30, 2021.
Key Takeaways
Hercules Capital reported strong Q2 2021 results, with net investment income of $37.0 million, total investment income of $69.6 million, and new debt and equity commitments totaling $440.8 million. The company's NAV per share increased to $11.71, and it maintained a strong liquidity position of $610.0 million.
Net Investment Income (NII) of $37.0 million, or $0.32 per share, a 3.6% year-over-year increase.
Total Investment Income of $69.6 million, up 2.3% year-over-year.
Total gross new debt and equity commitments reached $440.8 million.
Available liquidity stood at $610.0 million.
Hercules Capital
Hercules Capital
Forward Guidance
Hercules Capital did not provide specific financial guidance for future periods in the Q2 2021 earnings report. The company focused on its strong performance, strategic growth plans, and the favorable market conditions benefiting its portfolio companies.
Positive Outlook
- Strong liquidity position to fund disciplined growth strategy.
- Net debt portfolio growth of nearly $57 million.
- Highest internal credit rating in company history.
- Record levels of new debt and equity commitments.
- Technology and life sciences portfolio companies benefitting from multiple ways to raise new capital or achieve liquidity events.
Challenges Ahead
- No specific financial guidance provided.
- Elevated repayment activities.
- Potential impact from active participation in the Company's equity ATM program and any future equity offerings.
- Unfunded commitments and contingencies consist primarily of unused commitments to extend credit in the form of loans to select portfolio companies.
- Unfunded contractual commitments do not necessarily represent future cash requirements.