Trinity Capital Inc. Announces Preliminary Estimates of Financial Results for Fourth Quarter and Year Ended 2024

Rhea-AI Summary

Trinity Capital (Nasdaq: TRIN) has released preliminary financial estimates for Q4 and full-year 2024. The company expects Q4 2024 net investment income between $0.58 to $0.60 per share, with net asset value per share estimated between $13.32 to $13.37 as of December 31, 2024.

The alternative asset manager reports investment assets at fair value of approximately $1.7 billion. The company's non-accrual investments represented about 0.8% of the total debt investment portfolio at fair value and 2.6% at cost as of year-end 2024.

Positive

• Net investment income projected at $0.58-$0.60 per share for Q4 2024
• Substantial investment assets of $1.7 billion at fair value
• Low non-accrual rate of 0.8% at fair value

Negative

• Non-accrual investments at 2.6% of portfolio at cost

Insights

Financial Analyst

The preliminary Q4 2024 results from Trinity Capital reveal a compelling narrative of financial strength and portfolio quality. The estimated net investment income of $0.58 to $0.60 per share demonstrates robust earnings power, while the NAV range of $13.32 to $13.37 indicates stable asset values.

Most notably, the non-accrual rate of 0.8% at fair value is significantly below the BDC industry average, which typically ranges between 2-4%. This exemplary credit performance, coupled with a substantial $1.7 billion investment portfolio (nearly double the company's market capitalization), suggests strong risk management practices and potential for continued portfolio growth.

The current trading premium to NAV ($15.33 vs. ~$13.35) reflects market confidence in Trinity's business model and execution. The robust net investment income coverage provides a solid foundation for dividend sustainability, while the minimal non-accrual exposure indicates strong underlying portfolio health with near-term credit concerns.

PHOENIX, Feb. 4, 2025 /PRNewswire/ -- Trinity Capital Inc. (Nasdaq: TRIN) ("Trinity Capital" or the "Company"), a leading alternative asset manager, today announced preliminary estimates of financial results for the fourth quarter and year ended December 31, 2024.

Trinity Capital's preliminary estimate of its fourth quarter 2024 net investment income is in the range of $0.58 to $0.60 per share. Trinity Capital's preliminary estimate of its net asset value per share as of December 31, 2024 is in the range of $13.32 to $13.37. Trinity Capital's preliminary estimate of its investment assets at fair value as of December 31, 2024 is approximately $1.7 billion. Lastly, Trinity Capital preliminarily estimates that its investments on non-accrual status comprised approximately 0.8% of the total debt investment portfolio at fair value and approximately 2.6% at cost as of December 31, 2024.

Trinity Capital will hold a conference call to discuss its fourth quarter and full year 2024 financial results at 12:00 p.m. Eastern Time on Wednesday, February 26, 2025. To listen to the call, please dial (800) 267-6316, or (203) 518-9783 internationally, and reference Conference ID: TRINQ424 if asked, approximately 10 minutes prior to the start of the call. A taped replay will be made available approximately two hours after the conclusion of the call and will remain available until March 5, 2025. To access the replay, please dial (800) 723-0389 or (402) 220-2647.

About Trinity Capital Inc.

Trinity Capital Inc. (Nasdaq: TRIN) is an international alternative asset manager, aiming to provide investors with stable and consistent returns through access to the private credit market. We source, vet, and invest in dynamic privately funded growth-oriented companies, giving our investors access to a strong and diversified portfolio. With distinct business verticals, Trinity Capital stands as a trusted partner for innovative companies seeking tailored growth capital solutions. Headquartered in Phoenix, Arizona, the firm has an international footprint, supported by a dedicated team of strategically located investment professionals. For more information, visit the company's website at trinitycapital.com and stay connected by following us on LinkedIn and X (formerly Twitter).

Forward-Looking Statements

This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance or results and involve a number of risks and uncertainties, including, but not limited to, the preliminary estimates of the Company's financial information and results for the fourth quarter and year ended December 31, 2024, which are based on current information available to the Company as of the date hereof. Although management of the Company believes that the expectations reflected in those forward-looking statements are reasonable, the Company can give no assurance that those expectations will prove to be correct. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in filings with the Securities and Exchange Commission ("SEC"). The Company undertakes no duty to update any forward-looking statement made herein, except as required by applicable securities laws and regulations. All forward-looking statements speak only as of the date of this press release. More information on risks and other potential factors that could affect the Company's financial results, including important factors that could cause actual results to differ materially from plans, estimates or expectations included herein, is included in the Company's filings with the SEC, including in the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of the Company's most recently filed annual report on Form 10-K and subsequent SEC filings.

The preliminary financial estimates furnished above are based on management's preliminary determinations and current expectations as of the date hereof, and such information is inherently uncertain. The preliminary estimates provided herein have been prepared by, and are the responsibility of, management of the Company. The Company's independent registered public accounting firm has not audited, reviewed, compiled, or performed any procedures with respect to the preliminary estimates, and, accordingly, does not express an opinion or any form of assurance with respect thereto. These preliminary estimates are subject to completion of the Company's financial closing and review procedures and are not a comprehensive statement of the Company's financial results or valuations as of, or for the period ended, December 31, 2024. Actual results may differ materially from these preliminary estimates as a result of the completion of the Company's financial closing and review procedures, final adjustments, valuation process and other developments that may arise between now and the time that the Company's financial results for such period are finalized.

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SOURCE Trinity Capital Inc.

FAQ

What is Trinity Capital's estimated net investment income per share for Q4 2024?

Trinity Capital estimates its Q4 2024 net investment income to be between $0.58 and $0.60 per share.

What is TRIN's estimated net asset value per share as of December 31, 2024?

Trinity Capital's estimated net asset value per share as of December 31, 2024, is between $13.32 and $13.37.

How large is Trinity Capital's investment portfolio as of Q4 2024?

Trinity Capital's investment assets at fair value are approximately $1.7 billion as of December 31, 2024.

What percentage of TRIN's debt portfolio is on non-accrual status as of Q4 2024?

As of December 31, 2024, Trinity Capital's non-accrual investments comprised 0.8% of the total debt investment portfolio at fair value and 2.6% at cost.