NYSE$TPVG
TriplePoint Venture Growth BDC Corp · Q3 2022 earnings
Q3 2022 earnings · · Investor relations
Briefing
Achieved a new record for portfolio fair value and net investment income, and increased distribution for the fourth quarter.
TriplePoint Venture Growth BDC Corp. announced strong financial results for Q3 2022, achieving a record portfolio fair value of $962 million and net investment income of $0.51 per share. The company increased its distribution to $0.37 per share for the fourth quarter of 2022, demonstrating its significant earnings power.
- Signed $268.8 million of term sheets and closed $103.3 million of new debt commitments.
- Funded $101.7 million in debt investments to 14 portfolio companies with a 14.5% weighted average annualized portfolio yield at origination.
- Earned net investment income of $16.9 million, or $0.51 per share.
- Increased and declared a fourth quarter distribution of $0.37 per share.
Headline financials
Revenue & EPS history
TriplePoint · Revenue · Quarterly
-$1.07M
Forward guidance
TriplePoint Venture Growth BDC Corp. is well-positioned to capitalize on the demand for venture growth debt investments and aims to enhance shareholder returns.
Tailwinds
- TPC’s direct originations platform entered into $96.3 million of additional non-binding signed term sheets with venture growth stage companies
- The Company funded $27.9 million in new investments
- The Company received $33.8 million of principal prepayments generating more than $1.0 million of accelerated income
- ForgeRock, Inc. announced that it has entered into a definitive agreement to be acquired by Thoma Bravo, for $23.25 per share, in an all-cash transaction valued at approximately $2.3 billion.
- Increased distribution for the fourth quarter
Headwinds
- Preliminary information regarding certain recent negative developments at portfolio company Medly Health Inc., which we believe could result in a future credit rating downgrade of their outstanding loans.
- Unfunded commitments totaled $331.1 million, of which $128.4 million was dependent upon portfolio companies reaching certain milestones.
- Net realized losses on investments of $13.2 million, resulting primarily from the sale of Pencil and Pixel, Inc.
- Net change in unrealized losses on investments for the third quarter of 2022 was $3.2 million
- Net increase in net assets resulting from operations was $0.4 million, or $0.01 per share
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 Q3 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
| Quarter | Report date | Reaction (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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