Earnings Releases·Nov 5, 2026, 4:27 PM ET

Horizon Technology Finance — Third Quarter 2026 Earnings Summary

Net investment income declined to $12.3 million ($0.19/share) from $14.0 million ($0.32/share) in the prior-year period, while the net decrease in net assets from operations widened to $28.2 million ($0.43/share) compared to a $30.7 million increase previously, driven by a $29.1 million net unrealized depreciation and lower interest income.
Net asset value per share fell to $5.56 as of September 30, 2026, from $7.12 in the prior year, reflecting continued NAV pressure from stressed debt investments despite a 14.7% annualized portfolio yield on debt.
The company repurchased 2.0 million shares for $10.0 million during the quarter, extending the program through June 30, 2027, and increasing total authorization to $20 million, while the Board waived $1.0 million in base management fees.
Management announced a new Chief Growth and Strategy Officer, highlighted a meaningful increase in the investment pipeline, and declared monthly distributions of $0.06 per share for January through March 2027.
The company amended two senior secured credit facilities to extend maturities to 2034 and 2035 and added a second class of notes, maintaining a net debt-to-equity leverage ratio of 82% against a 120% target.