Business
Hercules Capital Reports Fourth Quarter and Full-Year 2025 Financial Results
SAN MATEO, Calif., February 12, 2026--Hercules Capital, Inc. (NYSE: HTGC) ("Hercules," "Hercules Capital," or the "Company"), the largest and leading specialty financing provider to innovative venture, growth and established stage companies backed by some of the leading and top-tier venture capital and select private equity firms, today announced its financial results for the fourth quarter and full-year ended December 31, 2025. The earnings release can be accessed at Hercules’ Investor Relation
About this update from Hercules Capital, Inc.
[{"type":"image","alt":"","displaySize":"","headline":null,"caption":"","credit":null,"className":"","disableSlideshowImg":false,"size":{"original":{"width":2727,"height":716,"url":"https://media.zenfs.com/en/business-wire.com/7a48c55362612f35f247dbdb570f7462"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/lSHnXrbFQk2fK81Rr8BpdA--/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTI1MjtjZj13ZWJw/https://media.zenfs.com/en/business-wire.com/7a48c55362612f35f247dbdb570f7462","width":960,"height":252},"lightbox":{"url":"https://s.yimg.com/ny/api/res/1.2/hkT3k62gStNAQnlzbI7TEg--/YXBwaWQ9aGlnaGxhbmRlcjt3PTI0MDA7aD02MzA7Y2Y9d2VicA--/https://media.zenfs.com/en/business-wire.com/7a48c55362612f35f247dbdb570f7462","width":1200,"height":315}},"lazy":false},{"type":"text","content":"Record Full-Year 2025 Total New Debt and Equity Commitments of $3.92 Billion, an Increase of 45.7% Year-over-Year","length":113,"tagName":"p","attribs":{}},{"type":"text","content":"Record Full-Year 2025 Total Fundings of $2.28 Billion, an Increase of 25.9% Year-over-Year","length":90,"tagName":"p","attribs":{}},{"type":"text","content":"Record Full-Year 2025 Total Investment Income of $532.5 Million, an Increase of 7.9% Year-over-Year","length":99,"tagName":"p","attribs":{}},{"type":"text","content":"Record Full-Year 2025 Net Investment Income "NII" of $341.7 Million, an Increase of 4.9% Year-over-Year","length":113,"tagName":"p","attribs":{}},{"type":"text","content":"Record Q4 2025 Total Gross Debt and Equity Commitments of $1.06 Billion, an Increase of 70.8% Year-over-Year","length":108,"tagName":"p","attribs":{}},{"type":"text","content":"Q4 2025 NII of $0.48 per Share provides 120% Coverage of the Base Cash Distribution","length":83,"tagName":"p","attribs":{}},{"type":"text","content":"Conservative Balance Sheet Management with Net Leverage of 101.8% and Net Regulatory Leverage of 86.0%(1)","length":105,"tagName":"p","attribs":{}},{"type":"text","content":"Inclusive of the Adviser Funds Advised by Hercules Adviser LLC, its Wholly-owned Subsidiary, Hercules had over $1.0 Billion of Available Liquidity as of Year End","length":161,"tagName":"p","attribs":{}},{"type":"text","content":"Announced a New Supplemental Cash Distribution for 2026 of $0.28 per Share, Payable over Four Quarters","length":102,"tagName":"p","attribs":{}},{"type":"text","content":"Undistributed Earnings Spillover o...