NASDAQ$HRZN
Horizon Technology Finance Corporation · Q4 2020 earnings
Q4 2020 earnings · · Investor relations
Briefing
Announced fourth quarter and full year 2020 financial results.
Horizon Technology Finance Corporation reported a net investment income of $0.21 per share for Q4 2020. The company originated nearly $77 million of new loans during the quarter and maintained regular monthly distributions of $0.10 per share. They also made progress exiting underperforming loans, enhancing the credit profile.
- Net Investment Income per Share was $0.21.
- NAV per Share was $11.02.
- The company declared regular monthly distributions totaling $0.30 per share.
- The company had a year-end record committed backlog of $107 Million.
Headline financials
Revenue & EPS history
Horizon Technology · Revenue · Quarterly
$10.1M
Forward guidance
Horizon expects to generate strong results and expand its portfolio in 2021, leveraging its liquidity, strong backlog, and high market demand for venture debt.
Tailwinds
- Originated nearly $77 million of new loans during the fourth quarter, expected to provide a strong foundation to generate additional NII in the first quarter of 2021.
- Maintained regular monthly distributions of $0.10 per share through June.
- Enhanced credit profile due to successful exits of several underperforming loans.
- Strong backlog and pipeline of attractive opportunities.
- High market demand for venture debt.
Headwinds
- Fourth quarter NII was impacted by low origination volume in the third quarter.
- Lower income from prepayments affected NII.
- Realized losses due to exiting underperforming loans.
- Lower net asset value per share as of December 31, 2020 was primarily due to paid distributions in excess of net investment income and the resolution of underperforming loans.
- Year-over-year reduction in total investment income is primarily due to lower interest income on investments resulting from a lower debt investment portfolio due in part to the challenging economic and operating environment.
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 Q4 2020
-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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