HTFC (Horizon Technology Finance Corp) Stock Financials & Earnings | Market Cap Arena

HTFC (Horizon Technology Finance Corp) Stock Financials & Earnings | Market Cap Arena

HTFCHorizon Technology Finance Corp

Mkt Cap$1B

Financial Services·Asset Management·🇺🇸 United States·NYSE

Revenue (TTM)$42M

Net Income (TTM)$45M

EPS (TTM)$1.05

Free Cash Flow (TTM)$37M

Gross Margin-9.5%

Op. Margin-25.0%

Net Margin109.5%

FCF Margin90.1%

P/S Ratio (TTM)27.9x

P/E Ratio (TTM)25.5x

YoY Rev Growth+22.3%

Employees—

Earnings Reports

Revenue & Profitability

Quarter	Revenue	Gross Profit	Op. Income
Q1 23	$14M	$7M	$5M
Q2 23	$9M	$2M	$331K
Q3 23	-$3M	-$11M	-$12M
Q4 23	$27M	$23M	-$3M
Q1 24	$19M	$11M	$9M
Q2 24	$604K	-$7M	-$9M
Q3 24	$17M	$9M	$8M
Q4 24	-$2M	-$11M	-$12M
Q1 25	-$11M	-$20M	-$21M
Q2 25	-$10M	-$18M	-$20M
Q3 25	$42M	$34M	$31M
Q4 25	$21M	$0	$0

Valuation

Quarter	P/S	P/E
Q1 23	22.5x	50.6x
Q2 23	24.4x	75.0x
Q3 23	36.7x	—
Q4 23	24.9x	—
Q1 24	22.7x	—
Q2 24	27.0x	—
Q3 24	18.3x	—
Q4 24	34.2x	—
Q1 25	263.4x	—
Q2 25	—	—
Q3 25	62.9x	—
Q4 25	27.9x	25.5x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 23	$13M	$13M
Q2 23	$8M	$8M
Q3 23	-$24M	-$24M
Q4 23	$13M	$13M
Q1 24	$8M	$8M
Q2 24	$10M	$10M
Q3 24	$13M	$13M
Q4 24	-$26M	-$26M
Q1 25	$10M	$10M
Q2 25	$50M	$50M
Q3 25	$8M	$8M
Q4 25	-$30M	-$30M

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 23	+69.9%	+84.0%
Q2 23	-31.5%	+63.2%
Q3 23	-127.2%	+30.2%
Q4 23	+124.6%	+294.3%
Q1 24	+32.3%	+11.8%
Q2 24	-93.2%	+9.8%
Q3 24	+599.1%	+11.6%
Q4 24	-108.9%	-67.7%
Q1 25	-157.8%	+5.7%
Q2 25	-1737.3%	+12.1%
Q3 25	+144.3%	+11.8%
Q4 25	+962.5%	+113.7%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 23	$0	0.0%
Q2 23	$0	0.0%
Q3 23	$0	—
Q4 23	$0	0.0%
Q1 24	$0	0.0%
Q2 24	$0	0.0%
Q3 24	$0	0.0%
Q4 24	$0	—
Q1 25	$0	—
Q2 25	$0	—
Q3 25	$0	0.0%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	G&A
Q1 23	$2M
Q2 23	$1M
Q3 23	$1M
Q4 23	$1M
Q1 24	$2M
Q2 24	$1M
Q3 24	$1M
Q4 24	$1M
Q1 25	$2M
Q2 25	$2M
Q3 25	$1M
Q4 25	$2M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 23	$20M	$0	$20M
Q2 23	$24M	$0	$24M
Q3 23	$35M	$0	$35M
Q4 23	$47M	$0	$47M
Q1 24	$47M	$0	$47M
Q2 24	$81M	$0	$81M
Q3 24	$52M	$0	$52M
Q4 24	$70M	$0	$70M
Q1 25	$33M	$0	$33M
Q2 25	$25M	$0	$25M
Q3 25	$128M	$2M	$131M
Q4 25	$106M	$0	$106M

Shares Outstanding

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change
Q1 23	28M	+4.9%
Q2 23	30M	+5.4%
Q3 23	32M	+9.1%
Q4 23	33M	+2.7%
Q1 24	34M	+0.7%
Q2 24	35M	+5.5%
Q3 24	37M	+3.2%
Q4 24	36M	-1.3%
Q1 25	40M	+11.4%
Q2 25	41M	+2.5%
Q3 25	46M	+11.2%
Q4 25	42M	-7.6%

Revenue Per Employee

Revenue / Employee

Year	Revenue/Employee	Employees
FY 14	$1M	19
FY 15	$788K	19
FY 16	-$93K	19
FY 17	$653K	19
FY 18	$1M	19
FY 19	$2M	19
FY 20	$1M	19
FY 21	$2M	19
FY 22	$2M	19
FY 23	$1M	19
FY 24	$2M	19
FY 25	$5M	19