Horizon Technology Finance (HRZN) is a leading specialty finance company dedicated to providing structured debt solutions to growth-stage, venture capital-backed businesses across the technology, life sciences, and sustainability sectors. The firm offers tailored financing options, encompassing both debt capital and equity co-investments, which empower its clients to enhance growth and foster innovation. HRZN's disciplined investment strategy is designed to identify and leverage high-quality opportunities that yield strong risk-adjusted returns, solidifying its position as a key player in advancing technology and sustainability within an ever-evolving market.
| Revenue (TTM) | $95.58M |
| Gross Profit (TTM) | $95.58M |
| EBITDA | — |
| Operating Margin | 72.30% |
| Return on Equity | 6.74% |
| Return on Assets | 6.00% |
| Revenue/Share (TTM) | $2.17 |
| Book Value | $6.98 |
| Price-to-Book | 0.96 |
| Price-to-Sales (TTM) | 3.31 |
| EV/Revenue | 23.32 |
| EV/EBITDA | 13.46 |
| Quarterly Earnings Growth (YoY) | 241.70% |
| Quarterly Revenue Growth (YoY) | -1.80% |
| Shares Outstanding | $68.26M |
| Float | 0 |
| % Insiders | 0.75% |
| % Institutions | 4.93% |
Volatility is currently contracting
Externally managed BDCs have to meet a high bar to qualify for a durable income portfolio. Their fees and sub-optimal incentives provide a structural headwind for long-term compounding. In my portfolio, I hold 2 externally managed BDCs that have passed the test.
Horizon Technology Finance is upgraded to Hold as portfolio structure shows potential for improvement and management demonstrates commitment through share repurchases. HRZN trades at a 33% discount to NAV, reflecting persistent portfolio and earnings weakness despite a high 15.5% dividend yield with thin coverage. Q1 results were disappointing: net investment income fell to $0.19/share, and interest income declined, but new investments and merger-driven equity injection offer cautious optimism.
In the article I list all monthly-paying BDCs. This list is then reduced to a handful of BDCs. These remaining BDCs, in my view, are the one with the strongest prospect to generate durable income without permanent NAV decay.
Horizon Technology Finance (HRZN) Q1 2026 Earnings Call Transcript
FARMINGTON, Conn.--(BUSINESS WIRE)--Horizon Technology Finance Corporation (NASDAQ: HRZN) (“Horizon”) (the “Company”), an affiliate of Monroe Capital, announced today that its board of directors has declared regular monthly cash distributions of $0.06 per share, payable in each of July, August and September 2026, and, in accordance with the Company's previously announced intent to make additional distributions with its undistributed net investment income, or “spillover” income, special cash dis.
FARMINGTON, Conn.--(BUSINESS WIRE)--Horizon Technology Finance Corporation (NASDAQ: HRZN) (“Horizon” or the “Company”), an affiliate of Monroe Capital, today announced its financial results for the first quarter ended March 31, 2026. First Quarter 2026 and Recent Highlights In April, successfully completed merger with Monroe Capital Corporation (“MRCC”), receiving approximately $141.1 million in cash and issuing 20,370,645 shares of common stock in the aggregate to MRCC stockholders Created a n.
The merger between Horizon Technology Finance (NASDAQ:HRZN) and Monroe Capital (NASDAQ:MRCC) closed on April 14, 2026, yet shareholders are not celebrating.
BDCs have become my area of expertise. While my BDC investment journey has so far been successful, there have been several painful mistakes in the process. In this article, I share my 3 biggest mistakes that have clearly improved my overall BDC investment game.
FARMINGTON, Conn.--(BUSINESS WIRE)--Horizon Technology Finance Corporation (NASDAQ: HRZN) (“HRZN” or “Horizon”), an affiliate of Monroe Capital, announced today that it plans to release financial results for the first quarter ended March 31, 2026 on Tuesday, May 5, 2026, after the close of market trading. The Company has scheduled a conference call to discuss the results on Wednesday, May 6, 2026, at 9:00 a.m. ET. The conference call will feature remarks by Mike Balkin, Chief Executive Officer,.
Monroe Capital Corp (NASDAQ:MRCC) no longer exists as a standalone public company.
