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Dec 31, 2019
Hercules Capital Q4 2019 Earnings Report
Hercules Capital reported record fourth quarter and full-year 2019 financial results.
Key Takeaways
Hercules Capital achieved record financial results for FY 2019, including total new debt and equity commitments, total gross fundings, total investment income, net investment income, total investment assets, and total debt investments. In Q4 2019, the company achieved record net investment income of $40.1 million, or $0.38 per share, and total investment income of $70.6 million.
Record Net Investment Income “NII” of $40.1 million, or $0.38 per share, an increase of 31.1% year-over-year
Total Investment Income of $70.6 million, an increase of 24.1% year-over-year
New debt and equity commitments of $283.9 million, an increase of 13.8% year-over-year
Q4 gross fundings of $240.8 million
Forward Guidance
Hercules Capital is confident in its portfolio, reflecting a rigorous credit-driven investment strategy and the overall resiliency of the VC ecosystem. The company is well positioned financially with $235.5 million in available liquidity and a diversified balance sheet.
Positive Outlook
- Confidence in Hercules’ portfolio
- Rigorous credit-driven investment strategy
- Overall resiliency of the VC ecosystem
- Well positioned financially with $235.5 million in available liquidity
- Diversified balance sheet
Challenges Ahead
- Macro environment will undoubtedly be influenced by the upcoming U.S. presidential election
- Macro environment will undoubtedly be influenced by the late stages of the economic cycle
- Uncertainties surrounding the current market volatility
- Early payoffs include $2.7M paydown on revolvers during Q4 2019.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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