Hercules Capital Reports Fourth Quarter and Full-Year 2024 Financial Results
Hercules Capital (NYSE: HTGC) reported strong financial results for Q4 and full-year 2024, marking several record achievements. The company's total investment income reached $493.6 million for the full year, up 7.1% year-over-year, while net investment income (NII) grew 7.2% to $325.8 million.
Q4 2024 performance included NII of $81.1 million ($0.49 per share), providing 123% coverage of the base cash distribution. The company maintained a conservative balance sheet with net GAAP leverage of 83.9% and net regulatory leverage of 69.9%. Total assets under management increased 14.2% year-over-year to $4.8 billion.
The company announced a new supplemental cash distribution for 2025 of $0.28 per share, payable over four quarters, and reported an undistributed earnings spillover of $163.6 million ($0.96 per share).
Hercules Capital (NYSE: HTGC) ha riportato risultati finanziari solidi per il quarto trimestre e per l'intero anno 2024, segnando diversi traguardi record. Il reddito totale da investimenti dell'azienda ha raggiunto 493,6 milioni di dollari per l'anno intero, in aumento del 7,1% rispetto all'anno precedente, mentre il reddito netto da investimenti (NII) è cresciuto del 7,2% fino a 325,8 milioni di dollari.
Le performance del Q4 2024 includevano un NII di 81,1 milioni di dollari (0,49 dollari per azione), offrendo una copertura del 123% della distribuzione base in contante. L'azienda ha mantenuto un bilancio conservativo con un leverage GAAP netto dell'83,9% e un leverage regolamentare netto del 69,9%. Gli attivi totali sotto gestione sono aumentati del 14,2% rispetto all'anno precedente, raggiungendo 4,8 miliardi di dollari.
L'azienda ha annunciato una nuova distribuzione supplementare in contante per il 2025 di 0,28 dollari per azione, pagabile in quattro trimestri, e ha riportato un surplus di utili non distribuiti di 163,6 milioni di dollari (0,96 dollari per azione).
Hercules Capital (NYSE: HTGC) reportó resultados financieros sólidos para el cuarto trimestre y el año completo 2024, marcando varios logros récord. Los ingresos totales por inversiones de la compañía alcanzaron 493.6 millones de dólares para el año completo, un aumento del 7.1% en comparación con el año anterior, mientras que los ingresos netos por inversiones (NII) crecieron un 7.2% hasta 325.8 millones de dólares.
El rendimiento del cuarto trimestre de 2024 incluyó un NII de 81.1 millones de dólares (0.49 dólares por acción), proporcionando una cobertura del 123% de la distribución base en efectivo. La compañía mantuvo un balance conservador con un apalancamiento GAAP neto del 83.9% y un apalancamiento regulatorio neto del 69.9%. Los activos totales bajo gestión aumentaron un 14.2% en comparación con el año anterior, alcanzando 4.8 mil millones de dólares.
La compañía anunció una nueva distribución de efectivo suplementaria para 2025 de 0.28 dólares por acción, pagadera en cuatro trimestres, y reportó un excedente de ganancias no distribuidas de 163.6 millones de dólares (0.96 dólares por acción).
헤라클레스 캐피탈 (NYSE: HTGC)는 2024년 4분기 및 전체 연도에 대한 강력한 재무 결과를 보고하며 여러 기록을 달성했습니다. 회사의 총 투자 수익은 전체 연도 동안 4억 9,360만 달러에 이르렀으며, 이는 지난해 대비 7.1% 증가한 수치입니다. 순 투자 수익(NII)은 7.2% 증가하여 3억 2,580만 달러에 달했습니다.
2024년 4분기 성과에는 8,110만 달러 (주당 0.49달러)의 NII가 포함되어 있으며, 이는 기본 현금 분배의 123%를 커버합니다. 회사는 83.9%의 순 GAAP 레버리지와 69.9%의 순 규제 레버리지를 유지하며 보수적인 재무 구조를 유지했습니다. 관리 자산 총액은 지난해 대비 14.2% 증가하여 48억 달러에 이르렀습니다.
회사는 2025년을 위한 새로운 추가 현금 분배를 주당 0.28달러로 발표하며, 이는 4개 분기에 걸쳐 지급될 예정입니다. 또한, 1억 6,360만 달러의 미분배 수익 잉여금(주당 0.96달러)을 보고했습니다.
Hercules Capital (NYSE: HTGC) a rapporté des résultats financiers solides pour le quatrième trimestre et l'année complète 2024, marquant plusieurs réalisations record. Le revenu total d'investissement de la société a atteint 493,6 millions de dollars pour l'année complète, en hausse de 7,1% par rapport à l'année précédente, tandis que le revenu net d'investissement (NII) a augmenté de 7,2% pour atteindre 325,8 millions de dollars.
La performance du Q4 2024 comprenait un NII de 81,1 millions de dollars (0,49 dollar par action), offrant une couverture de 123% de la distribution de liquidités de base. L'entreprise a maintenu un bilan conservateur avec un effet de levier GAAP net de 83,9% et un effet de levier réglementaire net de 69,9%. Les actifs totaux sous gestion ont augmenté de 14,2% par rapport à l'année précédente, atteignant 4,8 milliards de dollars.
L'entreprise a annoncé une nouvelle distribution de liquidités supplémentaire pour 2025 de 0,28 dollar par action, payable sur quatre trimestres, et a signalé un excédent de bénéfices non distribués de 163,6 millions de dollars (0,96 dollar par action).
Hercules Capital (NYSE: HTGC) hat für das vierte Quartal und das gesamte Jahr 2024 starke finanzielle Ergebnisse gemeldet und mehrere Rekorde erreicht. Das gesamte Investitionseinkommen des Unternehmens belief sich im Gesamtjahr auf 493,6 Millionen Dollar, was einem Anstieg von 7,1% im Vergleich zum Vorjahr entspricht, während das Nettoinvestitionseinkommen (NII) um 7,2% auf 325,8 Millionen Dollar wuchs.
Die Leistung im Q4 2024 umfasste ein NII von 81,1 Millionen Dollar (0,49 Dollar pro Aktie), was eine Abdeckung von 123% der Basis-Cash-Verteilung bietet. Das Unternehmen hielt eine konservative Bilanz mit einem Netto-GAAP-Leverage von 83,9% und einem Netto-Regulierungs-Leverage von 69,9%. Die verwalteten Gesamtkapitalien stiegen im Vergleich zum Vorjahr um 14,2% auf 4,8 Milliarden Dollar.
Das Unternehmen kündigte eine neue ergänzende Barausschüttung für 2025 von 0,28 Dollar pro Aktie an, die über vier Quartale ausgezahlt werden soll, und berichtete von einem nicht ausgeschütteten Gewinnüberschuss von 163,6 Millionen Dollar (0,96 Dollar pro Aktie).
- Record full-year total investment income of $493.6M (+7.1% YoY)
- Record net investment income of $325.8M (+7.2% YoY)
- Record gross fundings of $1.81B (+13.0% YoY)
- Assets under management increased 14.2% YoY to $4.8B
- Strong NII coverage ratio of 123% for base cash distribution
- Substantial undistributed earnings spillover of $163.6M
- None.
Insights
Hercules Capital's stellar 2024 performance showcases the robust demand for venture debt financing and the company's dominant market position. The
Several metrics deserve particular attention:
- The
123% coverage of base distribution by Q4 NII demonstrates exceptional dividend sustainability - The
$163.6 million undistributed earnings spillover provides a substantial safety cushion for future distributions - The conservative leverage profile of
83.9% GAAP and69.9% regulatory leverage indicates significant dry powder for growth while maintaining risk management
The
The introduction of a new
Record Full-Year 2024 Total Investment Income of
Record Full-Year 2024 Net Investment Income “NII” of
Record Full-Year 2024 Gross Fundings of
Q4 2024 NII of
Q4 2024 Total Gross Debt and Equity Commitments of
Q4 2024 Total Gross Fundings of
Conservative Balance Sheet Management with Net GAAP Leverage of
Inclusive of the Adviser Funds Managed by Hercules Adviser LLC, its Wholly-Owned Subsidiary, Hercules had over
Announced a New Supplemental Cash Distribution for 2025 of
Undistributed Earnings Spillover of
Approximately
Footnotes:
(1)
(2) Assets under management includes assets managed by Hercules and the Adviser Subsidiary
Conference Call
Hercules has scheduled its fourth quarter and full-year 2024 financial results conference call for February 13, 2025 at 2:00 p.m. PT (5:00 p.m. ET). To participate via telephone, please register here. Upon registration, all telephone participants will receive the dial-in number along with a unique PIN number that can be used to access the call. While not required, it is recommended you join 10 minutes prior to the event start. A live webcast of the fourth quarter and full-year 2024 financial results conference call will also be available on the investor relations section of the Company’s website at investor.htgc.com. An archived webcast replay will be available on the Company's website for at least 30 days following the conference call.
About Hercules Capital, Inc.
Hercules Capital, Inc. (NYSE: HTGC) is the leading and largest specialty finance company focused on providing senior secured venture growth loans to high-growth, innovative venture capital-backed companies in a broad variety of technology and life sciences industries. Since inception (December 2003), Hercules has committed more than
Hercules, through its wholly owned subsidiary business, Hercules Adviser LLC (the “Adviser Subsidiary”), also maintains an asset management business through which it manages investments for external parties (“Adviser Funds”). The Adviser Subsidiary is registered as an investment adviser under the Investment Advisers Act of 1940.
Hercules’ common stock trades on the New York Stock Exchange (NYSE) under the ticker symbol “HTGC.” In addition, Hercules has one retail bond issuance of
Forward-Looking Statements
This press release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. We may use words such as “anticipates,” “believes,” “expects,” “intends,” “will,” “should,” “may” and similar expressions to identify forward-looking statements. Forward-looking statements are not guarantees of future performance and should not be relied upon in making any investment decision. Such statements are based on currently available operating, financial and competitive information and are subject to various risks and uncertainties that could cause actual results to differ materially from our historical experience and our present expectations. While we cannot identify all such risks and uncertainties, we urge you to read the risks discussed in our Annual Report on Form 10-K and other materials that we publicly file with the Securities and Exchange Commission. Any forward-looking statements made in this press release are made only as of the date hereof. Hercules assumes no obligation to update any such statements in the future.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250213973052/en/
Michael Hara
Investor Relations and Corporate Communications
Hercules Capital, Inc.
650-433-5578
mhara@htgc.com
Source: Hercules Capital, Inc.
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