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Hercules Capital (NYSE: HCXY) posts Q2 2026 preliminary NAV and income

Filing Impact
(Moderate)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

Hercules Capital provides preliminary, unaudited estimates for the quarter ended June 30, 2026. Net asset value per share is expected to range from $12.10 to $12.20, up $0.20 to $0.30, or 1.7% to 2.5%, from $11.90 on March 31, 2026. Preliminary net realized gains are approximately $7.7 million and net investment income is estimated at $0.49 to $0.51 per share.

Preliminary gross new investment commitments are about $0.9 billion with fundings of $0.6 billion. Investments on non-accrual status comprised less than 0.5% of the total investment portfolio at cost as of June 30, 2026, compared with 0.2% at March 31, 2026. Total investments at fair value are estimated at $4.5 to $4.6 billion. These figures remain subject to completion of financial closing and review procedures and have not been audited or reviewed by the independent registered public accounting firm.

Positive

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Item 2.02 Results of Operations and Financial Condition Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 8.01 Other Events Other
Voluntary disclosure of events the company deems important to shareholders but not covered by other items.
NAV per share $12.10–$12.20 Preliminary net asset value per share as of June 30, 2026
Prior NAV per share $11.90 Net asset value per share as of March 31, 2026
Net realized gains $7.7 million Preliminary net realized gains for the second quarter of 2026
Net investment income per share $0.49–$0.51 Preliminary net investment income per share for Q2 2026
Gross new investment commitments $0.9 billion Preliminary gross new investment commitments in Q2 2026
Fundings $0.6 billion Preliminary investment fundings in Q2 2026
Investments at fair value $4.5–$4.6 billion Preliminary total investments at fair value as of June 30, 2026
Non-accrual investments <0.5% Share of total investment portfolio at cost on non-accrual as of June 30, 2026 (0.2% as of March 31, 2026)
net asset value financial
"The preliminary estimate of our net asset value per share of our common stock"
Net asset value is the total value of an investment fund's assets minus any liabilities, divided by the number of shares or units outstanding. It represents the per-share worth of the fund, similar to how the value of a house is determined by its total worth after debts are subtracted. Investors use it to gauge the true value of their holdings and to compare different investment options.
net investment income financial
"The preliminary estimate of our second quarter 2026 net investment income is in the range"
Net investment income is the money an investor or fund actually keeps from its investments after subtracting the costs of running those investments (like management fees, interest, and losses). Think of it as your paycheck from owning assets: gross returns minus the bills needed to earn them. Investors watch it because it shows how profitable the investment activities are, influences dividend payouts and cash available for growth, and helps compare true performance across funds or companies.
non-accrual status financial
"We preliminarily estimate that our investments on non-accrual status comprised <0.5% of the total investment portfolio"
A loan or credit account is placed in non-accrual status when the lender stops recording expected interest income because the borrower is not making scheduled payments or repayment is doubtful. Think of it like a landlord who stops counting unpaid rent as future income once a tenant stops paying; it signals rising credit problems and potential losses. For investors, non-accrual levels indicate loan quality and can foreshadow write-downs, lower earnings, and increased risk to a lender’s balance sheet.
gross new investment commitments financial
"The preliminary estimate of our second quarter 2026 gross new investment commitments and fundings"
forward-looking statements regulatory
"may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995"
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.
NAV per share $12.10–$12.20 Increase of $0.20–$0.30 per share, or 1.7%–2.5%, from $11.90 as of March 31, 2026.
Net realized gains $7.7 million Preliminary net realized gains for the second quarter of 2026.
Net investment income per share $0.49–$0.51 Preliminary range for net investment income per share for Q2 2026.
Investments at fair value $4.5–$4.6 billion Preliminary total investments at fair value as of June 30, 2026.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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FAQ

What is Hercules Capital's (HCXY) estimated NAV per share as of June 30, 2026?
Hercules Capital estimates its net asset value per share at $12.10 to $12.20 as of June 30, 2026. This reflects an increase of $0.20 to $0.30 per share, or 1.7% to 2.5%, from $11.90 as of March 31, 2026.

What preliminary net realized gains did Hercules Capital (HCXY) report for Q2 2026?
For the second quarter of 2026, Hercules Capital estimates net realized gains of approximately $7.7 million. These gains are preliminary, unaudited and may change after completion of the company’s financial closing, review procedures and final valuation processes.

What is Hercules Capital's (HCXY) estimated Q2 2026 net investment income per share?
Hercules Capital estimates second quarter 2026 net investment income at $0.49 to $0.51 per share of common stock. These figures are preliminary, have not been audited or reviewed by the independent registered public accounting firm and remain subject to adjustment.

How much did Hercules Capital (HCXY) commit and fund in new investments in Q2 2026?
Hercules Capital’s preliminary estimates show $0.9 billion in gross new investment commitments and $0.6 billion in fundings for Q2 2026. These investment activity figures are approximate and could change as the company completes its financial closing and review procedures.

What portion of Hercules Capital's (HCXY) portfolio was on non-accrual status at June 30, 2026?
Investments on non-accrual status comprised less than 0.5% of Hercules Capital’s total investment portfolio at cost as of June 30, 2026. This compares with 0.2% of the total investment portfolio at cost as of March 31, 2026.

What is the size of Hercules Capital's (HCXY) investment portfolio at fair value as of June 30, 2026?
Hercules Capital preliminarily estimates total investments at fair value of $4.5 to $4.6 billion as of June 30, 2026. This represents the fair value of the company’s investment portfolio and is subject to finalization of the quarter’s closing and review procedures.
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
 
 
FORM 8-K
 
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): July 21, 2026
 
Hercules Capital, Inc.
(Exact name of registrant as specified in its charter)
 
 
Maryland 814-00702 74-3113410
(State or other jurisdiction
of incorporation)
 
(Commission
File No.)
 
(I.R.S. Employer
Identification No.)
1 North B Street, Suite 2000
San Mateo, CA
 94401
(Address of principal executive offices) (Zip Code)
Registrant’s telephone number, including area code: (650) 289-3060
Not Applicable
(Former name or address, if changed since last report)  
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class 
Trading
Symbol(s)
 
Name of each exchange
on which registered
Common Stock, par value $0.001 per share HTGC New York Stock Exchange
6.25% Notes due 2033 HCXY New York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter)
Emerging growth company   ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.   ☐


Item 2.02
Results of Operations and Financial Condition

Set forth below are preliminary estimates of Hercules Capital, Inc. (the “Company”, “we” or “our”) as of and for the quarter ended June 30, 2026, which are estimated as of July 21, 2026. The preliminary financial data included in this Current Report on Form 8-K has been prepared by, and is the responsibility of, the Company’s management. The Company’s independent registered public accounting firm has not audited, reviewed, examined, compiled, nor applied agreed-upon procedures with respect to the preliminary financial data. Accordingly, the Company’s independent registered public accounting firm does not express an opinion or any other form of assurance with respect thereto. The preliminary data is subject to completion of the Company’s financial closing and review procedures and is not a comprehensive statement of the Company’s financial results or valuations as of, or for the period ended, June 30, 2026. Actual results may differ materially from this preliminary data as a result of the completion of the Company’s financial closing and review procedures, final adjustments, valuation process and other developments that may arise between now and the time that the Company’s financial results for such period are finalized.

As of the date hereof:

•The preliminary estimate of our net asset value (“NAV”) per share of our common stock as of June 30, 2026 is in the range of $12.10 to $12.20, representing an increase of $0.20 to $0.30 per share, or 1.7% to 2.5%, from the NAV per share of $11.90 as of March 31, 2026.

•The preliminary estimate of our second quarter 2026 net realized gains/(losses) is approximately $7.7 million of net realized gains.
•The preliminary estimate of our second quarter 2026 net investment income is in the range of $0.49 to $0.51 per share of our common stock.
•The preliminary estimate of our second quarter 2026 gross new investment commitments and fundings is approximately $0.9 billion and $0.6 billion, respectively.
•We preliminarily estimate that our investments on non-accrual status comprised <0.5% of the total investment portfolio at cost as of June 30, 2026, representing an increase from 0.2% of the total investment portfolio at cost as of March 31, 2026.
•The preliminary estimate of our total investments at fair value as of June 30, 2026 is approximately $4.5 to $4.6 billion.

The information disclosed under this Item 2.02 is being “furnished” and shall not be deemed “filed” by the Company for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that Section, and shall not be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Item 8.01.Other Events

The information disclosed under Item 2.02 of this Current Report on Form 8-K is incorporated by reference into this Item 8.01.
 






Forward-Looking Statements

This Current Report on Form 8-K may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. We may use words such as “anticipates,” “believes,” “expects,” “intends,” “will,” “should,” “may” and similar expressions to identify forward-looking statements. Forward-looking statements are not guarantees of future performance and should not be relied upon in making any investment decision. Such statements are based on currently available operating, financial and competitive information and are subject to various risks and uncertainties that could cause actual results to differ materially from our historical experience and our present expectations. While we cannot identify all such risks and uncertainties, we urge you to read the risks discussed in our Annual Report on Form 10-K and other materials that we publicly file with the Securities and Exchange Commission. Any forward-looking statements made herein are made only as of the date hereof. We assume no obligation to update any such statements in the future.





SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
  HERCULES CAPITAL, INC.
July 21, 2026  
  By: /s/ Kiersten Zaza Botelho
   Kiersten Zaza Botelho
   Secretary


Source: View Original Filing on SEC EDGAR

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