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Horizon Technology
(NASDAQ:HRZN)
Horizon Technology (HRZN) vs. SPDR S&P 500 ETF (SPY)
Horizon Technology Business Overview & Revenue Model
Horizon Technology Earnings Call Summary
Horizon Technology Financial Statement Overview
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 76.37M | 99.92M | 113.47M | 79.19M | 60.02M | 46.03M |
| Gross Profit | 66.56M | 99.92M | -9.87M | 49.73M | 60.02M | 18.68M |
| EBITDA | -14.48M | 26.62M | 11.94M | 21.87M | 40.21M | 16.04M |
| Net Income | -7.75M | -5.63M | -17.18M | 21.15M | 27.78M | 6.36M |
Balance Sheet | ||||||
| Total Assets | 759.21M | 821.83M | 802.36M | 766.83M | 513.96M | 407.16M |
| Cash, Cash Equivalents and Short-Term Investments | 84.66M | 70.26M | 46.63M | 20.61M | 38.05M | 0.00 |
| Total Debt | 424.03M | 467.90M | 462.24M | 434.08M | 257.61M | 185.82M |
| Total Liabilities | 443.51M | 485.65M | 478.38M | 448.38M | 268.63M | 194.56M |
| Stockholders Equity | 315.70M | 336.18M | 323.98M | 318.45M | 245.34M | 212.60M |
Cash Flow | ||||||
| Free Cash Flow | 83.86M | 3.94M | 50.07M | -246.28M | -75.99M | -25.28M |
| Operating Cash Flow | 83.86M | 3.94M | 50.07M | -246.28M | -75.99M | -25.28M |
| Investing Cash Flow | 19.21M | -182.06M | -55.33M | -372.01M | -291.49M | -190.23M |
| Financing Cash Flow | -16.66M | 21.21M | 50.51M | 229.46M | 75.52M | 55.66M |
Horizon Technology Technical Analysis
Horizon Technology Risk Analysis
Horizon Technology Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| ― | $14.75B | 10.33 | 10.06% | 9.33% | 10.34% | -24.16% | |
| ― | $1.14B | 8.10 | 9.36% | 16.59% | -55.16% | 47.09% | |
| ― | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
| ― | $1.03B | 12.86 | 6.18% | 13.37% | 39.05% | -32.62% | |
| ― | $277.70M | 5.41 | 18.20% | 7.02% | 18.36% | 17.28% | |
| ― | $3.22B | 11.97 | 12.81% | 10.47% | -15.88% | -13.91% | |
| ― | ― | ― | -15.46% | 20.09% | -11.22% | -433.61% |
Horizon Technology Corporate Events
Horizon Technology Finance faces a potential business risk as certain conditions for completing transactions with MRCC and MCIP may be waived without requiring further stockholder approval, provided it is legally permissible. This discretion allows the parties involved in the Merger Agreement and Asset Purchase Agreement to proceed with the transactions without additional input from stockholders, except for conditions that explicitly require stockholder approval. Such a waiver could lead to decisions that may not fully align with stockholder interests, thereby introducing an element of uncertainty and risk for the company.
Horizon Technology Finance Corporation, a specialty finance company, provides secured loans to venture capital and private equity-backed companies in technology, life sciences, healthcare, and sustainability sectors. The company recently announced its third-quarter 2025 financial results, highlighting a net investment income per share of $0.32 and a net asset value per share of $7.12. Horizon reported a debt portfolio yield of 18.6% and ended the quarter with a committed backlog of $119 million, while declaring regular monthly distributions totaling $0.33 per share through March 2026.
The latest earnings call from Horizon Technology Finance Corporation showcased a strong financial performance, underscored by successful capital raising initiatives and strategic growth plans through the anticipated merger with MRCC. Despite these positive developments, the call also highlighted challenges such as a decrease in portfolio size and high prepayment activity, which could impact future yield sustainability.
On October 28, 2025, Horizon Technology Finance Corporation announced that its Board of Directors declared monthly cash distributions of $0.11 per share for January, February, and March 2026, totaling $0.33 per share. These distributions reflect the company’s financial performance and spillover income, with the Board planning to reassess distribution levels in February 2026, considering the company’s fourth-quarter results and the anticipated merger with Monroe Capital Corporation. This announcement highlights Horizon’s commitment to providing returns to shareholders and its strategic financial planning amid potential changes in its operational landscape.
The most recent analyst rating on (HRZN) stock is a Hold with a $6.25 price target. To see the full list of analyst forecasts on Horizon Technology stock, see the HRZN Stock Forecast page.
On September 4, 2025, Horizon Technology Finance Corporation announced the issuance and sale of $40 million in 5.50% Convertible Notes due 2030, raising approximately $36.6 million in net proceeds. The company plans to use these funds for general corporate purposes, potentially including paying down existing debt. The Convertible Notes, which mature on September 4, 2030, bear interest at 5.50% per annum and are unsecured obligations of the company. They offer holders the option to convert them into shares of common stock under specific conditions, with certain restrictions on conversion rights to prevent excessive ownership concentration.
The most recent analyst rating on (HRZN) stock is a Buy with a $7.50 price target. To see the full list of analyst forecasts on Horizon Technology stock, see the HRZN Stock Forecast page.
On August 7, 2025, Horizon Technology entered into a Merger Agreement with Monroe Capital Corporation (MRCC) and other parties, which includes an Asset Sale and a merger that will result in MRCC becoming a wholly owned subsidiary of Horizon Technology. The transactions are subject to customary closing conditions, including stockholder approvals. If completed, Horizon Technology expects to receive approximately $165 million in cash proceeds, which will be used for future investments. However, the termination of the agreements or failure to meet closing conditions could have material adverse impacts on the company’s business and stock market performance.
The most recent analyst rating on (HRZN) stock is a Buy with a $15.00 price target. To see the full list of analyst forecasts on Horizon Technology stock, see the HRZN Stock Forecast page.
The recent earnings call for Horizon Technology Finance Corporation was marked by a positive sentiment, primarily driven by the strategic merger with Monroe Capital Corporation. The discussion highlighted significant benefits such as shareholder value creation, cost savings, and growth potential. Despite some regulatory and integration risks, the overall tone was optimistic due to the accretive nature of the transaction and the strategic alignment between the two companies.
Horizon Technology Finance Corporation, a specialty finance company, provides secured loans to venture capital and private equity-backed companies in sectors such as technology, life sciences, and sustainability. In its second-quarter 2025 financial results, Horizon reported a net investment income of $0.28 per share and a net asset value of $6.75 per share. The company also announced a merger with Monroe Capital Corp, aiming to expand its venture lending capabilities.
On August 7, 2025, Horizon Technology Finance Corporation announced that its Board of Directors declared monthly cash distributions of $0.11 per share for October, November, and December 2025, totaling $0.33 per share. This decision reflects the company’s ongoing commitment to providing returns to its shareholders, having distributed a total of $326 million since its 2010 IPO. The distributions are part of Horizon’s Dividend Reinvestment Plan, which allows shareholders to reinvest distributions into additional shares unless they opt for cash. This announcement underscores Horizon’s stable financial strategy and its focus on maintaining shareholder value.
The most recent analyst rating on (HRZN) stock is a Buy with a $15.00 price target. To see the full list of analyst forecasts on Horizon Technology stock, see the HRZN Stock Forecast page.
On August 7, 2025, Horizon Technology Finance Corporation (HRZN) and Monroe Capital Corporation (MRCC) announced a merger agreement where MRCC will merge into HRZN, with HRZN as the surviving entity. The merger involves a NAV-for-NAV share exchange, and MRCC shareholders will receive HRZN shares equivalent to their MRCC shares’ NAV. The merger is expected to enhance HRZN’s scale and shareholder value, providing incremental capital to support its growth strategy in venture debt and growth capital. The transaction is anticipated to be accretive over time, offering synergies and cost savings, and is structured as a tax-free reorganization.
The most recent analyst rating on (HRZN) stock is a Buy with a $15.00 price target. To see the full list of analyst forecasts on Horizon Technology stock, see the HRZN Stock Forecast page.