HTGC FY 2019 Earnings Report — Hercules Capital, Inc. Revenue & Financial Results | Market Cap Arena

Hercules Capital, Inc.HTGC

FY 2019 Earnings

Reported February 20, 2020

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2019	Prior Q	FY 2018	QoQ Change	YoY Change
Revenue	$298M	—	$176M	—	69.9%
Op. Income	$174M	—	$76M	—	126.9%
Gross Margin	81.7%	—	77.5%	—	4.2pp
Net Margin	58.2%	—	43.6%	—	14.6pp
EPS (Diluted)	$1.71	—	$0.83	—	106.0%
Free Cash Flow	-$241M	—	-$249M	—	3.3%

Revenue Flow

Item	Amount
REVENUE	$298M
Cost of Revenue	$55M
GROSS PROFIT	$244M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$19M
SG&A Expenses	$19M
Other Expenses	$51M
Operating Expenses	$70M
Cost & Expenses	$125M
OPERATING INCOME	$174M
Interest Income	$248M
Interest Expense	$55M
Other Income/Expenses	$0
INCOME BEFORE TAX	$174M
Income Tax Expense	$0
Net Income from Continuing Ops	$174M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$174M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$174M
D&A	$262.0K
EBIT	$174M
EBITDA	$174M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$298M
Cost of Revenue	$55M
GROSS PROFIT	$244M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$19M
SG&A Expenses	$19M
Other Expenses	$51M
Operating Expenses	$70M
Cost & Expenses	$125M
OPERATING INCOME	$174M
Interest Income	$248M
Interest Expense	$55M
Other Income/Expenses	$0
INCOME BEFORE TAX	$174M
Income Tax Expense	$0
Net Income from Continuing Ops	$174M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$174M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$174M
D&A	$262.0K
EBIT	$174M
EBITDA	$174M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$174M
Depreciation & Amortization	$262.0K
Stock-Based Compensation	$9M
Deferred Income Tax	$0
Other Non-Cash Items	-$427M
Change in Working Capital	$3M
OPERATING CASH FLOW	-$241M
Capital Expenditure	-$595.0K
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$0
NET CASH FROM INVESTING	-$595.0K
Net Debt Issuance	$322M
Common Stock Repurchased	-$5M
Common Dividends Paid	-$132M
Other Financing Activities	-$9M
NET CASH FROM FINANCING	$310M
FREE CASH FLOW	-$241M
Net Change in Cash	$69M

Balance Sheet

Item	Amount
Cash & Equivalents	$64M
Short-Term Investments	$0
Net Receivables	$20M
Inventory	$0
Other Current Assets	$51M
TOTAL CURRENT ASSETS	$135M
PP&E (Net)	$12M
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$2.3B
Tax Assets	$0
Other Non-Current Assets	$580.0K
TOTAL NON-CURRENT ASSETS	$2.3B
TOTAL ASSETS	$2.5B
Account Payables	$30M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$30M
Long-Term Debt	$1.3B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$1.3B
TOTAL LIABILITIES	$1.3B
Common Stock	$108.0K
Additional Paid-In Capital	$1.1B
Retained Earnings	-$12M
Treasury Stock	$0
Accum. Other Comp. Income	$0
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.1B
Minority Interest	$0
TOTAL EQUITY	$1.1B
TOTAL LIABILITIES & EQUITY	$2.5B
Total Debt	$1.3B
Net Debt	$1.2B