Private Credit Portfolio Analysis | Horizon Technology Finance Reports 2024 Annual Results
- Editor
- Mar 4
- 2 min read
Whats New:
Horizon Technology Finance Corp reported its 2024 annual financial results, showing total assets of $821.8 million as of December 31, 2024, up from $802.4 million at the end of 2023. The fund's net assets increased to $336.2 million from $324.0 million, while net asset value per share decreased to $8.43 from $9.71 year-over-year.
Portfolio Dynamics:
Total assets grew to $821.8 million as of December 31, 2024, compared to $802.4 million at the end of 2023.
Investments owned at fair value decreased slightly to $697.9 million from $709.1 million at the end of 2023.
Cash and cash equivalents, including money market funds, increased to $97.5 million from $73.1 million at the end of 2023.
Investment Activty:
Interest receivable increased to $16.6 million from $13.9 million at the end of 2023.
Other assets grew to $6.5 million from $3.6 million at the end of 2023.
Restricted investments rose to $3.3 million from $2.6 million at the end of 2023.
Capital Structure:
Long-term debt increased to $467.9 million from $462.2 million at the end of 2023.
Total liabilities grew to $485.7 million from $478.4 million at the end of 2023.
Additional paid-in capital increased to $518.2 million from $450.9 million at the end of 2023.
Performance Profile:
Net asset value per share decreased to $8.43 as of December 31, 2024, compared to $9.71 at the end of 2023.
Retained earnings deficit increased to $182.1 million from $127.0 million at the end of 2023.
Common stock value increased to $44,000 from $36,000 at the end of 2023.
Risk & Quality:
Distribution payable increased to $13.2 million from $11.0 million at the end of 2023.
Management fee payable decreased slightly to $1.0 million from $1.1 million at the end of 2023.
Other accrued liabilities decreased to $3.5 million from $4.1 million at the end of 2023.
The Wrap:
Horizon Technology Finance Corp's 2024 annual results show mixed performance with increased total assets and net assets, but a decrease in net asset value per share. The fund saw growth in cash and cash equivalents, while maintaining a relatively stable investment portfolio. However, the increase in long-term debt and retained earnings deficit suggests potential challenges in profitability and leverage management.
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