Horizon Technology Finance

Horizon Technology Finance Corp. operates as a specialty finance company, which engages in the provision of capital in the form of secured loans to venture capital backed companies. It is also involved in lending and investing in portfolio companies in technology, life science, healthcare information and services and cleantech industries. The company was founded by John C. Bombara, Daniel S. Devorsetz, Robert D. Pomeroy and Gerald A. Michaud on March 16, 2010 and is headquartered in Farmington, CT.

Earnings data Q1 2021

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Horizon Technology Finance excels in Q2 amidst venture challenges

Horizon Technology Finance delivered a strong performance in Q2 2024, supported by a resilient venture lending business and effective portfolio management.
While facing challenges in the venture capital environment and market uncertainties, the company remains focused on growth and stability.
Opportunities for portfolio expansion, funding, and strategic partnerships position Horizon Technology Finance for future success and value creation.

Horizon Technology Finance (HRZN) posts strong Q3 results amid growth opportunities

Horizon Technology Finance (HRZN) delivered a strong financial performance in Q3 2024, driven by robust net investment income and strategic partnerships.
While facing challenges in asset quality management and financial uncertainties, HRZN's focus on balance sheet strengthening and growth opportunities positions it well for the future.
By capitalizing on positive market trends, venture debt financing, and effective balance sheet management, HRZN aims to sustain its growth trajectory and enhance shareholder value.

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Horizon Technology Finance Corp., a traded business development company invests in companies located in the US. The fund targets companies openhearted in the fields of technology, life science and sustainability sectors. It provides financing for later stage capital requirements.

FARMINGTON, Conn.--(BUSINESS WIRE)--Horizon Technology Finance Corporation (NASDAQ: HRZN) (“Horizon” or the “Company”), an affiliate of Monroe Capital, and a leading specialty finance company that provides capital in the form of secured loans to venture capital-backed companies in the technology, life science, healthcare information and services, and sustainability industries, today announced its financial results for the second quarter ended June 30, 2024. Second Quarter 2024 Highlights Net in.

Horizon Technology Finance Announces Second Quarter 2024 Financial Results

FARMINGTON, Conn.--(BUSINESS WIRE)--Horizon Technology Finance Corporation (NASDAQ: HRZN) (“Horizon”) (the “Company”), an affiliate of Monroe Capital, and a leading specialty finance company that provides capital in the form of secured loans to venture capital-backed companies in the technology, life science, healthcare information and services, and sustainability industries, announced today that it plans to release financial results for the second quarter ended June 30, 2024 on Tuesday, July 3.

Horizon Technology Finance to Announce Second Quarter 2024 Financial Results

FARMINGTON, Conn.--(BUSINESS WIRE)--Horizon Technology Finance Corporation (NASDAQ: HRZN) (“Horizon”), an affiliate of Monroe Capital, and a leading specialty finance company that provides capital in the form of secured loans to venture capital-backed companies in the technology, life science, healthcare information and services, and sustainability industries, today provided its portfolio update for the second quarter ended June 30, 2024 and an update on the lending platform (“Horizon Platform”.

Horizon Technology Finance Provides Second Quarter 2024 Portfolio Update

We take a look at the action in business development companies through the last week of June and highlight some of the key themes we are watching. BDCs were slightly up on the week but flat over the month of June, with TPVG and OBDE underperforming. Horizon Tech Finance Corp closed a $100m senior secured credit facility to allow it to issue secured notes.

BDC Weekly Review: The Puzzle Of Secured Note Issuance

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FARMINGTON, Conn.--(BUSINESS WIRE)--Horizon Technology Finance Corporation (NASDAQ: HRZN) (“Horizon” or the “Company”), an affiliate of Monroe Capital, and a leading specialty finance company that provides capital in the form of secured loans to venture capital-backed companies in the technology, life science, healthcare information and services, and sustainability industries, today announced that Horizon Funding II, LLC, Horizon's wholly-owned subsidiary (“HFII”), has closed a $100 million sen.

Horizon Technology Finance Enhances Capital Resources and Increases Capacity via New $100 Million Credit Facility

Horizon Technology Finance has underperformed the BDC market by 15% since December, with worsening portfolio quality and yield compression. Q1, 2024 earnings report shows continued decline in net investment income, with NAV dropping and portfolio stagnating at lower yield levels. Despite sourcing fresh equity, HRZN's underlying portfolio profile has deteriorated, making it still a risky investment choice with uncertain fundamentals.

Horizon Technology: The Risks Have Increased, While Yield Has Remained Unattractive

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Business development companies offer a predictable and reliable source of dividend income given their tax structure. Monitoring the Dividend Kings list is a useful exercise to help identify businesses that pay and raise their dividends on a consistent basis.

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Horizon Technology Finance's recent earnings show declining financials and a deteriorating risk profile, warranting caution for investors in search of higher yields. The BDC's double-digit yield is currently covered by net investment income, but declining NAV and unrealized losses are concerns. The stock trades at a 20% premium to its NAV, making it less attractive compared to other high-yielding BDCs that I consider higher quality.

Horizon Technology Finance: 11.4% Yield Is Safe But Proceed With Caution

Horizon Technology Finance has a dividend yield of 11.4% and distributions are issued on a monthly basis, making this an attractive choice for income investors. The price has come since Q4 of 2023 due to the worsening credit quality of investment portfolio. This could be offset by investments made in Q1 of 2024. The price trades at a premium to NAV of nearly 20%, despite the price drop.

Horizon Technology Finance: Attractive Price Entry Offset By Drop In Portfolio Quality

Horizon Technology Finance Corporation (NASDAQ:HRZN ) Q1 2024 Earnings Conference Call May 1, 2024 9:00 AM ET Company Participants Megan Bacon - Director, Investor Relations and Marketing Rob Pomeroy - Chairman and CEO Jerry Michaud - President Dan Devorsetz - Chief Operating Officer and CIO Dan Trolio - Chief Financial Officer Conference Call Participants Bryce Rowe - B. Riley Securities Paul Johnson - KBW Christopher Nolan - Ladenburg Thalmann Operator Greetings.

Horizon Technology Finance Corporation (HRZN) Q1 2024 Earnings Call Transcript

FARMINGTON, Conn.--(BUSINESS WIRE)--Horizon Technology Finance Corporation (NASDAQ: HRZN) (“Horizon”) (the “Company”), an affiliate of Monroe Capital, and a leading specialty finance company that provides capital in the form of secured loans to venture capital-backed companies in the technology, life science, healthcare information and services, and sustainability industries, announced today that its board of directors has declared monthly cash distributions of $0.11 per share, payable in each.

Horizon Technology Finance Announces Monthly Distributions for July, August and September 2024 Totaling $0.33 per Share

FARMINGTON, Conn.--(BUSINESS WIRE)--Horizon Technology Finance Corporation (NASDAQ: HRZN) (“Horizon” or the “Company”), an affiliate of Monroe Capital, and a leading specialty finance company that provides capital in the form of secured loans to venture capital-backed companies in the technology, life science, healthcare information and services, and sustainability industries, today announced its financial results for the first quarter ended March 31, 2024. First Quarter 2024 Highlights Net inv.

Horizon Technology Finance Announces First Quarter 2024 Financial Results

Horizon Technology Finance is a well-managed BDC focused on technology and life science investments. The BDC's stock has weakened in 2024 due to concerns about investment losses in the sector. Despite the decline in valuation, the 12% dividend yield is safer than it appears, and there is potential for re-rating upside.

Horizon Technology Finance: This 12% Yield Is Not As Risky As It Looks (Rating Upgrade)

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Naturally, one should monitor their portfolio on a regular basis in case there are any news events or market circumstances that can affect a stock price or its dividend adversely.

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FARMINGTON, Conn.--(BUSINESS WIRE)--Horizon Technology Finance Corporation (NASDAQ: HRZN) (“Horizon”) (the “Company”), an affiliate of Monroe Capital, and a leading specialty finance company that provides capital in the form of secured loans to venture capital-backed companies in the technology, life science, healthcare information and services, and sustainability industries, announced today that it plans to release financial results for the first quarter ended March 31, 2024 on Tuesday, April.

Horizon Technology Finance to Announce First Quarter 2024 Financial Results

Business development companies (BDCs) are reliable passive-income sources, given their unique tax structure. Hercules Capital and Horizon Technology are two leading BDCs focused on the tech, healthcare, and sustainable energy sectors.

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FARMINGTON, Conn.--(BUSINESS WIRE)--Horizon Technology Finance Corporation (NASDAQ: HRZN) (“Horizon”), an affiliate of Monroe Capital, and a leading specialty finance company that provides capital in the form of secured loans to venture capital-backed companies in the technology, life science, healthcare information and services, and sustainability industries, today provided its portfolio update for the first quarter ended March 31, 2024 and an update on the lending platform (“Horizon Platform”.

Horizon Technology Finance Provides First Quarter 2024 Portfolio Update

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Horizon Technology Finance has underperformed the BDC index and lost a tangible chunk of its market cap since the issuance of my bearish thesis. Looking at the fundamentals, it is clear that the price correction has been fully justified. Despite the drop, I still consider Horizon Technology Finance an unattractive case going forward.

Horizon Technology Finance: Still Too Expensive After The Price Correction

BDCs are required to pay out 90% of taxable income to investors each year in the form of dividends. Hercules Capital and Horizon Technology are two leading BDCs for the tech and life sciences businesses.

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News for Horizon Technology Finance ETF (HRZN)