NASDAQ$HRZN
Horizon Technology Finance Corporation · Q1 2026 earnings
Q1 2026 earnings · · Investor relations
Briefing
Horizon Technology Finance reported Q1 2026 net investment income of $9.0M ($0.19/share) and net increase in net assets from operations of $2.8M ($0.06/share).
For the three months ended March 31, 2026, Horizon Technology Finance (BDC) earned net investment income of $9.0 million, or $0.19 per share, before excise tax. Net increase in net assets resulting from operations was $2.8 million, or $0.06 per share, versus a $(21.4) million decrease and $(0.53) per share a year ago. Total investment income was $24.1 million against expenses of $14.8 million; net unrealized depreciation on investments was $4.6 million.
- Net investment income $9.0M ($0.19/share basic and diluted).
- Net increase in NAV from operations $2.8M ($0.06/share) vs $(21.4)M prior year.
- Total investment income $24.1M; net interest margin supported portfolio yield.
- Distributions declared $0.18/share in the quarter.
- Venture-lending portfolio focused on technology and life-science borrowers.
Headline financials
Revenue & EPS history
Horizon Technology · Revenue · Quarterly
$9.08M
Forward guidance
As a BDC, Horizon does not provide corporate EPS guidance; the 10-Q discusses portfolio yield, credit quality, and dividend capacity tied to net investment income.
Tailwinds
- Return to positive net increase in net assets from operations.
- Net investment income covers a meaningful portion of distributions.
- Venture debt demand in tech and healthcare end markets.
Headwinds
- Net unrealized depreciation on non-affiliate investments $4.8M.
- Realized loss on debt extinguishment $1.4M.
- Portfolio credit and valuation sensitivity to venture funding markets.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q1 2026
-1.9%
Avg return
Earnings day
-3.3%
Avg return
5 days after
-4.3%
Avg return
30 days after
42%
8 / 19 earnings
Positive
+8.2%
Q3 2022
Best reaction
-16.8%
Q1 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +1.2% | +8.6% | +11.0% | |
| Q4 2025 | -0.8% | -31.6% | -30.0% | |
| Q3 2025 | -1.0% | +6.8% | +9.7% | |
| Q1 2025 | -16.8% | -17.1% | -15.3% | |
| Q4 2024 | -9.9% | -2.2% | -11.5% | |
| Q3 2024 | -4.3% | -6.8% | -8.3% | |
| Q2 2024 | -4.4% | -7.8% | -9.5% | |
| Q1 2024 | -1.5% | +1.6% | -0.3% | |
| Q4 2023 | -6.2% | -8.5% | -12.6% | |
| Q3 2023 | +6.4% | +8.8% | +13.1% | |
| Q2 2023 | +1.1% | -5.4% | -9.5% | |
| Q1 2023 | +0.3% | -1.1% | +1.1% | |
| Q4 2022 | -5.5% | -9.1% | -10.9% | |
| Q3 2022 | +8.2% | +13.5% | +13.5% | |
| Q2 2022 | +3.1% | +1.2% | -5.9% | |
| Q1 2022 | +0.1% | -0.3% | -2.7% | |
| Q4 2021 | -0.3% | -2.6% | -10.7% | |
| Q3 2021 | +2.3% | +1.6% | -0.8% | |
| Q4 2020 | -9.0% | -11.5% | -1.9% |
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