Loading...
•
Dec 31, 2020
TriplePoint Q4 2020 Earnings Report
Announced fourth quarter and fiscal year 2020 financial results, with net investment income of $0.39 per share for the fourth quarter and $1.57 per share for the fiscal year.
Key Takeaways
TriplePoint Venture Growth BDC Corp. reported a strong performance for Q4 2020, marked by a net investment income of $0.39 per share and strategic gains from the sale of shares in CrowdStrike, Medallia, and Freshly. The company also declared a first quarter 2021 distribution of $0.36 per share.
Net investment income was $11.9 million, or $0.39 per share.
Realized $4.2 million from the sale of CrowdStrike, Medallia, and Freshly shares.
Signed $172.3 million of term sheets with venture growth stage companies and closed $73.4 million of new debt commitments.
Weighted average annualized portfolio yield on total debt investments was 15.2%.
Forward Guidance
TriplePoint Venture Growth BDC Corp. is well-positioned to capitalize on the venture capital market and expects to utilize its strong liquidity to grow its portfolio and deliver returns to stakeholders.
Positive Outlook
- Entered into $58.1 million of additional non-binding signed term sheets with venture growth stage companies.
- Closed $48.4 million of additional debt commitments.
- Funded $42.9 million in new investments.
- Received $17.4 million of principal prepayments generating approximately $0.5 million of accelerated income.
- Amended the Credit Facility to increase the capacity to $350 million from $325 million.
Challenges Ahead
- Knotel filed for Chapter 11 bankruptcy protection.
- Potential risks associated with changes in economic and market conditions.
- Impact of the COVID-19 pandemic on the company and its portfolio companies.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...