Hercules Capital Inc Stock Price, News & Analysis

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.

Tipalti, a finance automation platform, has secured $200 million in growth financing from Hercules Capital (NYSE: HTGC). The funding will support AI development and global expansion. The company has unveiled enhanced Tipalti AI with new AI agents, including Reporting, Tax Form Scan, Purchase Request, and Branded Experience agents.

The company reported significant growth metrics, including reaching $200 million in annual recurring revenue (ARR), 30% year-over-year customer base growth, and processing payments at a $75 billion annualized payment volume (30% YoY increase). Tipalti now serves over 5,000 global companies across multiple regions including the U.S., Canada, UK, and EU.

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.

Heron Therapeutics (NASDAQ: HRTX) has completed a comprehensive capital restructuring to enhance financial flexibility and reduce debt. The multi-faceted refinancing includes: a $110 million senior credit facility from Hercules Capital (with additional $40 million available in milestone-based tranches), retirement of existing convertible notes through $125 million cash repayment and $25 million stock conversion, issuance of $35 million new convertible notes, and a $27.7 million private placement.

The restructuring aims to eliminate near-term debt maturities and provide working capital for commercial and development initiatives. The transactions, initiated on August 8, 2025, are expected to close on August 12, 2025.

Snappt, a leader in multifamily housing applicant trust platforms, has announced two major developments: the acquisition of Trigo and securing a $50 million growth financing facility from Hercules Capital (NYSE: HTGC).

The acquisition of Trigo, known for rental payment history verification technology, enhances Snappt's platform capabilities. Since 2019, Snappt has analyzed over 14 million documents with 99.8% accuracy, preventing $1.9 billion in potential bad debt. The company currently protects 2.2 million rental units nationwide.

The combined platform will enable property managers to verify rent payment history, income, identity, assets, and employment while detecting fraudulent documentation, streamlining the leasing process and reducing risk.

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).