Hercules Capital Inc Stock Price, News & Analysis

Hercules Capital (NYSE: HTGC) reported record third-quarter and year‑to‑date activity for 2025, with Q3 total debt and equity commitments of $846.2M and record Q3 fundings of $504.6M. Year‑to‑date through Q3, commitments reached $2.87B and fundings $1.75B. Q3 investment income was $138.1M and Q3 net investment income (NII) was $88.6M or $0.49 per share, covering 122% of the base cash distribution.

Balance-sheet highlights: net GAAP leverage 98.2%, net regulatory leverage 82.3%, over $1.0B of available liquidity, undistributed earnings spillover of $146.2M ($0.80 per ending share), approximately $5.5B AUM (+20.7% YoY), and a Moody’s upgrade to Baa2.

Hercules Capital (NYSE:HCXY) declared a $0.47 per share total cash distribution for Q3 2025, composed of a $0.40 base distribution and a $0.07 supplemental distribution. The record date is November 12, 2025 and the payment date is November 19, 2025.

The Board maintains a variable distribution policy targeting distributions that approximate 90%–100% of taxable quarterly income and may pay supplemental amounts to distribute annual taxable income in the year earned. Of distributions declared for the quarter ended September 30, 2025, 100% were derived from current earnings and profits. Year-to-date Qualified Interest Income (QII) for 2025 distributions is 79.05%.

Hercules Capital (NYSE: HCXY) announced it reached $25.0 billion in total cumulative debt commitments since its first origination in October 2004, as of October 27, 2025. The company reported a 21-year 41.5% compound annual growth rate in cumulative commitments and highlighted key scale metrics including ~5.5 billion in assets under management (AUM) as of September 30, 2025, more than 700 portfolio companies, >1,000 venture/private equity sponsors, and over 270 IPO or M&A liquidity events.

The announcement credits its investment team, underwriting discipline, and partnerships for the milestone.

Hercules Capital (NYSE: HTGC) will release its third quarter 2025 financial results after market close on Thursday, October 30, 2025. The company will host a conference call the same day at 2:00 p.m. PT / 5:00 p.m. ET.

Investors can join via telephone or live webcast at the Investor Resources section of investor.htgc.com. Domestic dial-in: +1 (800) 267-6316. International dial-in: +1 (203) 518-9783. Callers should dial in 10–15 minutes early and reference conference ID HTGCQ325. An archived replay will be available on the same investor webpage.

Hercules Capital (NYSE:HTGC), the largest specialty financing provider to venture and growth companies, has received a significant credit rating upgrade from Moody's Investors Service. The company's investment grade credit and corporate rating has been upgraded to Baa2 with a revised outlook to stable.

The upgrade is attributed to Hercules' 22-year strong operating history as a business development company (BDC), demonstrating robust profitability and asset quality performance. Key factors include the company's low leverage, minimal reliance on secured funding sources, and strong equity market access, supported by its internally managed structure.

Hercules Capital (NYSE:HTGC), the largest specialty financing provider to venture-backed companies, has received an affirmed BBB+ investment grade rating from Kroll Bond Rating Agency (KBRA). The rating affirmation reflects HTGC's strong market position in venture debt, particularly in technology and life sciences sectors.

KBRA's positive assessment highlights Hercules' 20+ year operating track record, robust risk management, diversified investment portfolio focused on senior secured first lien debt, and solid capital market access. The stable outlook is supported by appropriate leverage metrics and a high proportion of unsecured debt providing strong noteholder protection.

Hercules Capital (NYSE:HTGC), the largest specialty financing provider to venture and growth companies, reported strong Q2 2025 financial results. The company achieved record quarterly gross fundings of $709.1 million and total gross debt and equity commitments of $1.0 billion.

Q2 2025 highlights include Net Investment Income (NII) of $88.7 million, or $0.50 per share, providing 125% coverage of base cash distribution. The company closed an upsized offering of $350.0 million of 6.000% unsecured notes due 2030 and increased its MUFG Bank credit facility to $440.0 million.

Hercules maintains a strong financial position with over $5.3 billion in Assets Under Management (up 16.5% year-over-year), $1.0 billion in available liquidity, and an undistributed earnings spillover of $134.1 million ($0.74 per share).

Hercules Capital (NYSE:HTGC), the largest specialty finance provider to venture-backed companies, has declared a total cash distribution of $0.47 per share for Q2 2025. The distribution consists of a $0.40 base distribution and a $0.07 supplemental distribution.

The distribution will be paid on August 19, 2025, to stockholders of record as of August 12, 2025. The company maintains a variable distribution policy targeting 90-100% of quarterly taxable income. For Q2 2025, 100% of distributions were derived from current earnings and profits, with 80.13% qualifying as Qualified Interest Income (QII) for foreign account tax purposes.

Hercules Capital (NYSE:HTGC), the largest specialty finance provider for venture and growth companies, announced that its wholly-owned investment adviser, Hercules Adviser LLC, has completed the first close of its fourth institutional private credit fund, Hercules Growth Lending Fund IV LP.

The launch marks Hercules Adviser's fourth fund in five years, bringing its total managed funds to four with approximately $1.6 billion in committed debt and equity capital. Together, Hercules Capital and Hercules Adviser manage over $5.0 billion in assets as of March 31, 2025, having committed more than $22.0 billion to over 680 portfolio companies since inception.