NASDAQ$HRZN
Horizon Technology Finance Corporation · Q3 2022 earnings
Q3 2022 earnings · · Investor relations
Briefing
Horizon Technology reported strong Q3 2022 results with increased net investment income, a growing investment portfolio, and a high debt portfolio yield. The company also increased its regular monthly distributions and declared a special distribution.
Horizon Technology Finance Corporation announced strong financial results for the third quarter ended September 30, 2022. Key highlights include net investment income of $0.43 per share, a total investment portfolio of $634.6 million, and an annualized portfolio yield on debt investments of 15.9%.
- Net investment income was $11.1 million, or $0.43 per share.
- Total investment portfolio reached $634.6 million.
- Net asset value was $307.7 million, or $11.66 per share.
- Annualized portfolio yield on debt investments was 15.9%.
Headline financials
Revenue & EPS history
Horizon Technology · Revenue · Quarterly
-$8.59M
Forward guidance
Horizon anticipates continued growth and attractive risk-adjusted returns, driven by a strong balance sheet, robust pipeline, and disciplined underwriting, despite the challenging economic environment.
Tailwinds
- Strong balance sheet
- Robust pipeline of venture debt opportunities
- Disciplined underwriting
- Increase monthly distributions by 10% to $0.11 per share beginning in January 2023
- Declared an additional special distribution of $0.05 per share payable in December 2022
Headwinds
- Challenging macro environment
- Potential for future loss of principal in 2-rated loans
- Economic Downturn
- Uncertainty in global markets
- Risk of loss of principal in 1-rated loans
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 Q3 2022
-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% |
Discussion
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