Hercules Capital — Third Quarter 2026 Earnings Summary

Hercules Capital reported third-quarter 2026 net investment income of $87.3 million, or $0.47 per share, representing an 118% coverage of its base cash distribution. Year-to-date through September 30, 2026, the company achieved record total new debt and equity commitments of $3.44 billion and total fundings of $1.93 billion, both increasing year-over-year. The company maintained a conservative balance sheet with net GAAP leverage of 109.0% and net regulatory leverage of 94.0%, while ending the quarter with $506.6 million in available liquidity. Net asset value per share increased 0.9% to $12.26, driven by accretion from equity issuances and net unrealized appreciation on debt investments.