NYSE$TPVG

TriplePoint Venture Growth BDC Corp · Q2 2022 earnings

Q2 2022 earnings · · Investor relations

Briefing

Achieved new record for portfolio fair value and net investment income per share for the second quarter.

TriplePoint Venture Growth BDC Corp. announced strong financial results for Q2 2022, achieving record portfolio fair value of $877 million and net investment income of $0.41 per share. The company also declared a third quarter distribution of $0.36 per share.

  • Signed a record level $803.6 million of term sheets with venture growth stage companies and closed a record level $259.9 million of new debt commitments.
  • Funded $157.6 million in debt investments to 20 portfolio companies with a 13.6% weighted average annualized portfolio yield at origination.
  • Earned net investment income of $12.7 million, or $0.41 per share.
  • Net asset value of $404.3 million, or $13.01 per share, as of June 30, 2022.

Headline financials

Total Revenue

$27.4M

Previous: $20.3M+35.0%
EPS (adj)

$0.41

Previous: $0.30+36.7%
Net Asset Value

$13.01

Previous: $13.03-0.2%
Gross Leverage Ratio

1.24

Previous: 0.67+85.1%
Portfolio Yield on Debt

14.5%

Previous: 13.9%+4.3%
Return on Average Equity

11.8%

Previous: 9.5%+24.2%
Net Income

$12.7M

Previous: $12M+5.6%
Operating Income

$12.7M

Previous: $9.4M+34.6%
Cash & Equivalents

$43.1M

Previous: $33.4M+28.9%
Total Assets

$922M

Previous: $686M+34.5%

Revenue & EPS history

TriplePoint · Revenue · Quarterly

$27.4M

Q2 2022+35%vs Q2 2021
Beat estimate in 3 of 15 quarters(20%)
ActualEstimate

Forward guidance

Demand for debt financing remains strong, with a focus on high quality venture growth stage companies. The company concentrates on maintaining the quality of the investment portfolio and deploying capital in a disciplined manner to create long-term shareholder value.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q2 2022

Historical avgQ2 2022

+1.3%

Avg return

Earnings day

+1.8%

Avg return

5 days after

+1.6%

Avg return

30 days after

73%

35 / 48 earnings

Positive

+17.5%

Q1 2020

Best reaction

-11.8%

Q4 2023

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+2.0%+2.0%-2.2%
Q4 2025+2.1%-1.7%-3.4%
Q3 2025+2.7%+4.7%+21.8%
Q1 2025+7.5%+13.3%+22.5%
Q4 2024-5.4%-6.2%-21.0%
Q3 2024+15.6%+21.9%+26.7%
Q2 2024-8.3%-13.9%-8.1%
Q1 2024-0.9%-0.7%-0.2%
Q4 2023-11.8%-9.4%-14.4%
Q3 2023+4.3%+7.4%+11.3%
Q2 2023-11.3%-10.2%-11.3%
Q1 2023-10.6%-6.6%-1.6%
Q4 2022+3.5%+7.2%+1.8%
Q3 2022-0.8%+1.6%+2.0%
Q2 2022+4.1%-2.1%-6.4%
Q1 2022+2.6%-5.0%-4.8%
Q4 2021+5.0%+3.0%+10.4%
Q3 2021+2.8%+8.1%-0.7%
Q2 2021-1.8%-1.5%-2.6%
Q1 2021-2.4%-5.3%+0.2%
Q4 2020-0.3%+0.3%+1.5%
Q3 2020+5.8%+7.2%+18.3%
Q2 2020+7.4%+12.4%+0.6%
Q1 2020+17.5%+21.5%+63.1%
Q4 2019+5.6%-10.3%-61.5%
Q3 2019-10.5%-13.0%-15.8%
Q2 2019+2.6%-0.4%+7.3%
Q1 2019+2.6%+2.9%-4.1%
Q4 2018+3.6%+5.8%+8.8%
Q3 2018+2.2%+0.6%-4.8%
Q2 2018+0.8%+2.0%-4.0%
Q1 2018+3.6%+6.0%+3.8%
Q4 2017+4.6%+4.0%+4.8%
Q3 2017+1.9%+1.5%-3.7%
Q2 2017+7.3%+6.8%+4.4%
Q1 2017+1.5%+1.2%-2.4%
Q4 2016+2.4%+6.4%+4.5%
Q3 2016+3.8%+9.9%+20.3%
Q2 2016+0.8%+0.3%+1.6%
Q1 2016-1.9%
Q4 2015+0.8%
Q3 2015+0.7%
Q2 2015+0.9%
Q1 2015-2.6%
Q4 2014+0.7%
Q3 2014+0.9%
Q2 2014+0.4%
Q1 2014+0.4%

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