The earnings call highlighted Hercules Capital's strong performance with record fundings, solid investment income, and robust liquidity, indicating a well-managed growth trajectory. However, there were concerns about market frothiness and a slight increase in nonaccrual loans, offset by stable credit quality and strategic discipline.

Company Guidance

During the Hercules Capital Q3 2025 earnings call, the company announced a robust financial performance with several record-breaking metrics. Hercules achieved record total investment income of $138.1 million, a 10.3% year-over-year increase, and net investment income of $88.6 million or $0.49 per share. The company originated over $846.2 million in gross debt and equity commitments in Q3, contributing to a record $2.87 billion for the first three quarters of 2025. Record gross fundings for Q3 reached $504.6 million, marking an 85.5% increase year-over-year. The balance sheet remained strong with over $1 billion in liquidity, a GAAP leverage of 99.5%, and a net asset value per share increase to $12.05, the highest since 2008. Hercules maintained a disciplined approach to credit underwriting, achieving 122% coverage of the quarterly base distribution of $0.40 per share and retaining $0.80 per share of spillover income. The portfolio's credit quality was stable with a weighted average internal credit rating of 2.27 and no grade 5 credits. The company ended Q3 with strong liquidity, enabling continued focus on high-quality originations and disciplined underwriting.

Record-Breaking Fundings and Commitments

Hercules achieved record originations of $2.87 billion for the first three quarters of 2025, with record gross fundings of $504.6 million in Q3, an 85.5% increase year-over-year.

Strong Investment Income and Dividend Coverage

Record total investment income of $138.1 million in Q3, a 10.3% increase year-over-year, and net investment income of $88.6 million, which covered the quarterly base distribution by 122%.

Robust Liquidity and Balance Sheet Position

Hercules ended Q3 with over $1 billion of liquidity across its platform and no material near-term debt maturities, maintaining a conservative and defensive balance sheet.

Growth in Assets Under Management

Record period ending assets under management of approximately $5.5 billion, an increase of 20.7% year-over-year.

Consistent Credit Quality

Maintained a weighted average internal credit rating of 2.27, with 64.5% of credits in grades 1 and 2, showing stable credit quality quarter-over-quarter.

Hercules Capital (HTGC) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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HTGC Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Feb 12, 2026	2025 (Q4)	0.49 / -	0.49	―	―	―
Oct 30, 2025	2025 (Q3)	0.48 / 0.49	0.51	-3.92% (-0.02)
Jul 31, 2025	2025 (Q2)	0.47 / 0.50	0.51	-1.96% (-0.01)
May 01, 2025	2025 (Q1)	0.46 / 0.45	0.5	-10.00% (-0.05)
Feb 13, 2025	2024 (Q4)	0.50 / 0.49	0.56	-12.50% (-0.07)
Oct 30, 2024	2024 (Q3)	0.51 / 0.51	0.52	-1.92% (-0.01)
Aug 01, 2024	2024 (Q2)	0.51 / 0.51	0.53	-3.77% (-0.02)
May 02, 2024	2024 (Q1)	0.50 / 0.50	0.48	4.17% (+0.02)
Feb 15, 2024	2023 (Q4)	0.50 / 0.56	0.47	19.15% (+0.09)
Nov 02, 2023	2023 (Q3)	0.49 / 0.52	0.39	33.33% (+0.13)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

HTGC Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Oct 30, 2025	$17.13	$17.45	+1.87%
Jul 31, 2025	$17.83	$18.20	+2.08%
May 01, 2025	$16.48	$16.33	-0.91%
Feb 13, 2025	$19.04	$19.24	+1.05%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

FAQ

When does Hercules Capital (HTGC) report earnings?

Hercules Capital (HTGC) is schdueled to report earning on Feb 12, 2026, After Close (Confirmed).

What is Hercules Capital (HTGC) earnings time?

Hercules Capital (HTGC) earnings time is at Feb 12, 2026, After Close (Confirmed).

Where can I see when companies are reporting earnings?

You can see which companies are reporting today on our designated earnings calendar.

What companies are reporting earnings today?

You can see a list of the companies which are reporting today on TipRanks earnings calendar.

What is HTGC EPS forecast?

HTGC EPS forecast for the fiscal quarter 2025 (Q4) is 0.49.

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