← Hercules Capital, Inc.
| Annual Trend | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|
| Cash flows from operating activities: | ||||||||
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||
| Net Income | — | $174.2m |
$102.1m
-41.38%
|
$337.5m
+230.60%
|
$263.0m
-22.08%
|
$339.7m
+29.19%
|
$383.2m
+12.79%
|
|
| Net Income (Loss) Available to Common Stockholders, Basic | — | — | $102.1m |
$334.1m
+227.33%
|
$260.1m
-22.15%
|
$337.0m
+29.56%
|
— | |
| Net change in unrealized (appreciation) depreciation | — | ($3.3m) | $85.1m | ($25.0m) | $31.2m | ($38.8m) | — | |
| Amortization of debt fees and issuance costs | $5.2m | $6.4m | $5.6m | $7.0m | $7.0m | $8.5m | — | |
| Depreciation and amortization | $415k | $317k | $204k | $190k | $466k | $337k | $336k | |
| Stock-based compensation and amortization of restricted stock grants | $8.5m | $10.4m | $10.8m | $11.9m | $12.5m | $14.8m | $7.4m | |
| Amortization of Debt Issuance Costs | — | $10.5m | $4.8m | $6.1m | $6.1m | $7.3m | — | |
| Amortization of Debt Issuance Costs and Discounts | — | $6.4m | $5.6m | $7.0m | $7.0m | $8.5m | — | |
| Share-based Payment Arrangement, Noncash Expense | — | $10.4m | $10.8m | $11.9m | $12.5m | $14.8m | $7.4m | |
| Share-based Payment Arrangement, Expense | — | $11.9m | $13.4m | $13.2m | $12.8m | $14.6m | $7.4m | |
| Changes in operating assets and liabilities: | ||||||||
| Change In Working Capital | — | — | ($16.2m) | ($17.2m) | $15.4m | $5.9m | $8.8m | |
| Change In Receivables | — | — | ($14.2m) | ($1.1m) | $62k | ($5.3m) | ($1.7m) | |
| Increase (Decrease) in Accounts Payable | — | $0 | $0 | — | — | — | ($23k) | |
| Unearned fees related to unfunded commitments | ($291k) | ($2.0m) | $2.2m | ($2.6m) | ($400k) | ($965k) | — | |
| Accrued liabilities | $3.8m | $9.5m | ($2.4m) | $6.3m | $13.7m | $8.0m | $10.0m | |
| Change In Accrued Expense | — | — | ($2.4m) | $6.3m | $13.7m | $8.0m | $10.0m | |
| Other assets | $802k | $2.2m | $406k | ($22.5m) | $1.7m | $3.2m | — | |
| Change In Other Current Assets | — | — | $406k | ($22.5m) | $1.7m | $3.2m | $510k | |
| Change In Other Current Liabilities | — | — | $0 | $0 | $0 | $0 | $0 | |
| Net cash provided by (used in) operating activities | $207.8m |
$128.6m
-38.10%
|
($424.8m)
-430.27%
|
$68.3m
+116.07%
|
($118.1m)
-272.95%
|
($425.8m)
-260.58%
|
($123.8m)
+70.93%
|
|
| Cash flows from investing activities: | ||||||||
| Purchases of capital equipment | ($137k) | ($106k) | ($114k) | ($887k) | ($705k) | ($89k) | — | |
| Unrealized Gain (Loss) on Investments | — | $3.3m | ($85.1m) | $25.0m | ($31.2m) | $38.8m | $90.5m | |
| Purchases of investments | — | ($1.5b) | ($1.5b) | ($1.6b) | ($1.5b) | ($1.7b) | — | |
| Proceeds from the sale of debt investments | — | — | — | $0 | $0 | $74.5m | — | |
| Proceeds from the sale of equity and warrant investments | — | — | $15.2m | $43.2m | $49.4m | $46.4m | — | |
| Net cash provided by (used in) investing activities | ($137k) | ($106k) | ($114k) | ($887k) | ($705k) | ($89k) | ($541k) | |
| Cash flows from financing activities: | ||||||||
| Loss on extinguishment of debt | — | — | $364k | $0 | $171k | $184k | — | |
| Gain (Loss) on Extinguishment of Debt | — | ($4.4m) | ($3.7m) | $0 | ($171k) | ($184k) | — | |
| Issuance of debt | $824.5m | $1.7b | $1.3b | $659.0m | $1.3b | $2.0b | $1.6b | |
| Debt issuance costs | ($1.4m) | ($5.6m) | ($6.7m) | $0 | ($4.3m) | ($11.0m) | — | |
| Long Term Debt Issuance | — | — | $1.3b | $659.0m | $1.3b | $2.0b | $1.6b | |
| Net Issuance Payments Of Debt | — | — | $343.0m | ($24.0m) | $213.6m | $511.5m | $268.1m | |
| Net Long Term Debt Issuance | — | — | $343.0m | ($24.0m) | $213.6m | $511.5m | $268.1m | |
| Repayment of debt | ($827.4m) | ($1.8b) | ($931.2m) | ($683.0m) | ($1.1b) | ($1.5b) | ($1.3b) | |
| Long Term Debt Payments | — | — | ($931.2m) | ($683.0m) | ($1.1b) | ($1.5b) | ($1.3b) | |
| Issuance Of Capital Stock | — | — | $232.1m | $344.3m | $220.9m | $206.8m | $68.8m | |
| Repurchase Of Capital Stock | — | — | ($4.5m) | ($12.7m) | ($3.4m) | ($6.5m) | ($6.2m) | |
| Issuance of common stock | $77.5m | $10.8m | $232.1m | $344.3m | $220.9m | $206.8m | $68.8m | |
| Common Stock Issuance | — | — | $232.1m | $344.3m | $220.9m | $206.8m | $68.8m | |
| Net Common Stock Issuance | — | — | $227.6m | $331.6m | $217.4m | $200.3m | $62.6m | |
| Common Stock Payments | — | — | ($4.5m) | ($12.7m) | ($3.4m) | ($6.5m) | ($6.2m) | |
| Payments for Repurchase of Common Stock | — | $2.8m | $4.5m | $12.7m | $3.4m | $6.5m | — | |
| Common Stock Dividend Paid | — | — | ($245.1m) | ($273.7m) | ($303.5m) | ($326.0m) | ($337.0m) | |
| Cash Dividends Paid | — | — | ($245.1m) | ($273.7m) | ($303.5m) | ($326.0m) | ($337.0m) | |
| Dividends paid | — | $176 | $245 | $274 | $303 | $326 | ($337.0m) | |
| Net Other Financing Charges | — | — | $0 | $0 | $0 | $0 | $0 | |
| Net cash provided by (used in) financing activities | ($85.0m) |
($229.9m)
-170.31%
|
$314.5m
+236.83%
|
$22.7m
-92.77%
|
$119.2m
+424.05%
|
$368.9m
+209.50%
|
$154.1m
-58.24%
|
|
| Net increase (decrease) in cash, cash equivalents, foreign cash and restricted cash | $122.6m | ($101.4m) | ($110.4m) | $90.1m | $408k | ($57.0m) | — | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | — | ($101.4m) | ($110.4m) | $90.1m | $408k | ($57.0m) | $50.4m | |
| Beginning Cash Position | — | — | $136.3m | $25.9m | $116.0m | $116.4m | $53.3m | |
| Cash, cash equivalents, foreign cash and restricted cash at beginning of period | $237.6m | $136.3m | $25.9m | $116.0m | $116.4m | $59.5m | — | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | — | $136.3m | $25.9m | $116.0m | $116.4m | $59.5m | $50.4m | |
| Additional Supplementary Disclosures | ||||||||
| Additional Supplementary Disclosures | ||||||||
| Additional Financial Items | ||||||||
| Net increase (decrease) in net assets resulting from operations | $227.3m | $174.2m | $102.1m | $337.5m | $263.0m | $339.7m | — | |
| Fundings assigned to Adviser Funds | $0 | $125.3m | $330.2m | $350.7m | $118.4m | $0 | — | |
| Principal and fee repayments received | — | $1.2b | $530.4m | $1.0b | $955.7m | $848.2m | — | |
| Net realized (gain) loss | — | ($25.3m) | ($2.8m) | ($8.4m) | $31.5m | $40.6m | — | |
| Payments for derivative instruments | — | — | $0 | $0 | ($849k) | ($1.6m) | — | |
| Accretion of loan discounts | ($29.3m) | ($26.7m) | ($29.1m) | ($6.9m) | ($4.6m) | ($7.2m) | — | |
| Accretion of loan discount on convertible notes | — | $671k | $112k | $0 | $0 | $1.0m | — | |
| Accretion of loan exit fees | — | ($23.5m) | ($24.5m) | ($25.0m) | ($26.7m) | ($33.1m) | — | |
| Change in loan income, net of collections | $16.8m | $35.0m | $26.7m | $23.8m | $23.5m | $27.6m | — | |
| Interest receivable | $1.1m | $1.7m | ($14.2m) | ($1.1m) | $62k | ($5.3m) | — | |
| Offering expenses | ($298k) | ($209k) | ($2.4m) | ($6.1m) | ($2.5m) | ($2.4m) | — | |
| Retirement of employee shares, net | ($1.8m) | ($2.8m) | ($4.5m) | ($12.7m) | ($3.4m) | ($6.5m) | — | |
| Distributions paid | ($152.4m) | ($175.5m) | ($245.1m) | ($273.7m) | ($303.5m) | ($326.0m) | — | |
| Fees paid for credit facilities | — | — | ($1.8m) | ($5.1m) | ($1.6m) | ($3.5m) | — | |
| Distributions reinvested | $3.3m | $4.1m | $4.0m | $4.6m | $8.8m | $9.3m | — | |
| Operating Cash Flow | $207.8m |
$128.6m
-38.10%
|
($424.8m)
-430.27%
|
$68.3m
+116.07%
|
($118.1m)
-272.95%
|
($425.8m)
-260.58%
|
($123.8m)
+70.93%
|
|
| Change In Payable | — | — | $0 | $0 | $0 | $0 | ($23k) | |
| Change In Prepaid Assets | — | $2.2m | $406k | ($22.5m) | — | — | ($21.4m) | |
| Changes In Cash | — | — | ($110.4m) | $90.1m | $408k | ($57.0m) | ($2.9m) | |
| End Cash Position | — | — | $25.9m | $116.0m | $116.4m | $59.5m | $50.4m | |
| Financing Cash Flow | — | — | $314.5m |
$22.7m
-92.77%
|
$119.2m
+424.05%
|
$368.9m
+209.50%
|
$154.1m
-58.24%
|
|
| Free Cash Flow | — | — | ($424.9m) | $67.4m | ($118.8m) | ($425.9m) | $8.4m | |
| Gain Loss On Investment Securities | — | — | ($837.1m) | ($586.4m) | ($475.5m) | ($726.6m) | ($350.1m) | |
| Investing Cash Flow | — | — | ($114k) | ($887k) | ($705k) | ($89k) | ($541k) | |
| Net PPE Purchase And Sale | — | — | ($114k) | ($887k) | ($705k) | ($89k) | ($81k) | |
| Other Non Cash Items | — | — | $326.2m | $334.2m | $78.5m | ($45.1m) | — | |
| Purchase Of PPE | — | — | ($114k) | ($887k) | ($705k) | ($89k) | ($81k) | |
| General and Administrative Expense | — | $16.1m | $16.9m | $18.7m | $19.7m | $19.0m | — | |
| Investment Company Distribution Ordinary Income | — | — | — | $275.5m | $286.1m | $321.5m | — | |
| Operating Expenses | — | $136.0m | $141.9m | $165.7m | $178.5m | $206.0m | — | |
| Realized Investment Gains (Losses) | — | $20.9m | ($924k) | — | — | — | — | |
| Supplemental disclosure of cash flow information: | ||||||||
| Change In Cash Supplemental As Reported | — | — | ($110.4m) | $90.1m | $408k | ($57.0m) | — | |
| Accretion of paid-in-kind interest | $58.3m | ($11.2m) | ($20.5m) | ($24.7m) | ($51.3m) | ($55.9m) | — | |
| Interest paid | $58.3m | $51.5m | $52.1m | $67.1m | $77.8m | $83.4m | — | |
| Interest Income Operating Paid In Kind | $58.3m | $51.5m | $52.1m | $24.7m | $51.3m | $55.9m | — | |
| Income tax, including excise tax, paid | $2.5m | $3.8m | $7.4m | $5.3m | $5.3m | $6.4m | — |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.