Horizon Technology Finance Q3 Earnings Call Highlights

Impact · against what's priced in

HRZN's outlook is dampened by significant erosion of book value and a declining portfolio yield, though a growing backlog and sustainable dividends provide a floor. The sharp drop in NAV to $5.56 and a yield decline to 14.7% outweigh the positive impact of opportunistic share buybacks.

HRZN−0.30

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In context

The 21.7% year-over-year decline in NAV to $5.56 and a drop in debt portfolio yield from 18.6% to 14.7% indicate worsening credit quality and lower future income potential, partially offset by a growing $351 million backlog.

Read from the article alone

• earnings
• HRZN
• bdc
• credit quality
• distributions
• investment portfolio
• net asset value
• share buybacks
• specialty finance
• venture debt
• write downs