Hercules Capital Q3 2024 Earnings Report
Key Takeaways
Hercules Capital reported a strong Q3 2024 with record total investment income of $125.2 million, a 7.3% increase year-over-year, and net investment income (NII) of $83.2 million, or $0.51 per share, an 8.3% increase year-over-year. The company's NII provided 128% coverage of the base cash distribution, and total gross debt and equity commitments reached $430.7 million.
Record Total Investment Income of $125.2 million, an increase of 7.3% year-over-year.
Net Investment Income (NII) of $83.2 million, or $0.51 per share, an increase of 8.3% year-over-year.
Total gross debt and equity commitments of $430.7 million.
Total gross fundings of $272.0 million.
Hercules Capital
Hercules Capital
Forward Guidance
Hercules has pending commitments of $630.0 million in signed non-binding term sheets outstanding as of October 25, 2024. Since the close of Q3 2024 and as of October 25, 2024 Hercules has closed new gross debt and equity commitments (before assignments to or direct originations by the Adviser Funds) of $17.0 million and funded $15.2 million.