HCXY FY 2023 Earnings Report — Hercules Capital, Inc. Revenue & Financial Results | Market Cap Arena

Hercules Capital, Inc.HCXY

FY 2023 Earnings

Reported February 15, 2024

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2023	Prior Q	FY 2022	QoQ Change	YoY Change
Revenue	$461M	—	$322M	—	43.2%
Op. Income	$388M	—	$256M	—	51.5%
Gross Margin	100.0%	—	100.0%	—	0.0pp
Net Margin	73.3%	—	31.7%	—	41.5pp
EPS (Diluted)	$2.31	—	$1.24	—	86.3%
Free Cash Flow	$67M	—	-$425M	—	115.9%

Revenue Flow

Item	Amount
REVENUE	$461M
Cost of Revenue	$0
GROSS PROFIT	$461M
R&D Expenses	$0
Selling & Marketing	$67M
General & Administrative	$6M
SG&A Expenses	$73M
Other Expenses	$0
Operating Expenses	$73M
Cost & Expenses	$73M
OPERATING INCOME	$388M
Interest Income	$434M
Interest Expense	$68M
Other Income/Expenses	-$50M
INCOME BEFORE TAX	$337M
Income Tax Expense	$0
Net Income from Continuing Ops	$337M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$337M
Net Income Deductions	$1
BOTTOM LINE NET INCOME	$334M
D&A	$190.0K
EBIT	$382M
EBITDA	$382M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$461M
Cost of Revenue	$0
GROSS PROFIT	$461M
R&D Expenses	$0
Selling & Marketing	$67M
General & Administrative	$6M
SG&A Expenses	$73M
Other Expenses	$0
Operating Expenses	$73M
Cost & Expenses	$73M
OPERATING INCOME	$388M
Interest Income	$434M
Interest Expense	$68M
Other Income/Expenses	-$50M
INCOME BEFORE TAX	$337M
Income Tax Expense	$0
Net Income from Continuing Ops	$337M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$337M
Net Income Deductions	$1
BOTTOM LINE NET INCOME	$334M
D&A	$190.0K
EBIT	$382M
EBITDA	$382M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$337M
Depreciation & Amortization	$7M
Stock-Based Compensation	$13M
Deferred Income Tax	$0
Other Non-Cash Items	-$272M
Change in Working Capital	-$17M
OPERATING CASH FLOW	$68M
Capital Expenditure	-$887.0K
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$0
NET CASH FROM INVESTING	-$887.0K
Net Debt Issuance	-$24M
Common Stock Repurchased	-$13M
Common Dividends Paid	-$227M
Other Financing Activities	$333M
NET CASH FROM FINANCING	$23M
FREE CASH FLOW	$67M
Net Change in Cash	$90M

Balance Sheet

Item	Amount
Cash & Equivalents	$99M
Short-Term Investments	$0
Net Receivables	$33M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$132M
PP&E (Net)	$5M
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$3.2B
Tax Assets	$0
Other Non-Current Assets	$4M
TOTAL NON-CURRENT ASSETS	$3.3B
TOTAL ASSETS	$3.4B
Account Payables	$54M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	-$53M
TOTAL CURRENT LIABILITIES	$5M
Long-Term Debt	$1.6B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	-$105M
TOTAL NON-CURRENT LIABILITIES	$1.5B
TOTAL LIABILITIES	$1.6B
Common Stock	$158.0K
Additional Paid-In Capital	$1.7B
Retained Earnings	$140M
Treasury Stock	$0
Accum. Other Comp. Income	$0
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.8B
Minority Interest	$0
TOTAL EQUITY	$1.8B
TOTAL LIABILITIES & EQUITY	$3.4B
Total Debt	$1.6B
Net Debt	$1.5B