HTGC FY 2021 Earnings Report — Hercules Capital, Inc. Revenue & Financial Results | Market Cap Arena

Hercules Capital, Inc.HTGC

FY 2021 Earnings

Reported February 22, 2022

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2021	Prior Q	FY 2020	QoQ Change	YoY Change
Revenue	$310M	—	$357M	—	-13.4%
Op. Income	$174M	—	$227M	—	-23.4%
Gross Margin	82.4%	—	83.3%	—	-0.9pp
Net Margin	56.3%	—	63.6%	—	-7.3pp
EPS (Diluted)	$1.49	—	$2.01	—	-25.9%
Free Cash Flow	$129M	—	$208M	—	-38.1%

Revenue Flow

Item	Amount
REVENUE	$310M
Cost of Revenue	$54M
GROSS PROFIT	$255M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$16M
SG&A Expenses	$16M
Other Expenses	$65M
Operating Expenses	$81M
Cost & Expenses	$135M
OPERATING INCOME	$174M
Interest Income	$253M
Interest Expense	$54M
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	$317.0K
EBIT	$174M
EBITDA	$174M
EPS	$2
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$310M
Cost of Revenue	$54M
GROSS PROFIT	$255M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$16M
SG&A Expenses	$16M
Other Expenses	$65M
Operating Expenses	$81M
Cost & Expenses	$135M
OPERATING INCOME	$174M
Interest Income	$253M
Interest Expense	$54M
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	$317.0K
EBIT	$174M
EBITDA	$174M
EPS	$2
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$174M
Depreciation & Amortization	$7M
Stock-Based Compensation	$12M
Deferred Income Tax	$0
Other Non-Cash Items	-$78M
Change in Working Capital	$13M
OPERATING CASH FLOW	$129M
Capital Expenditure	-$106.0K
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$0
NET CASH FROM INVESTING	-$106.0K
Net Debt Issuance	-$50M
Common Stock Repurchased	-$3M
Common Dividends Paid	-$145M
Other Financing Activities	-$1M
NET CASH FROM FINANCING	-$230M
FREE CASH FLOW	$129M
Net Change in Cash	-$101M

Balance Sheet

Item	Amount
Cash & Equivalents	$133M
Short-Term Investments	$0
Net Receivables	$17M
Inventory	$0
Other Current Assets	$4M
TOTAL CURRENT ASSETS	$154M
PP&E (Net)	$7M
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$2.4B
Tax Assets	$0
Other Non-Current Assets	$5M
TOTAL NON-CURRENT ASSETS	$2.4B
TOTAL ASSETS	$2.6B
Account Payables	$42M
Short-Term Debt	$379M
Deferred Revenue	$0
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$427M
Long-Term Debt	$857M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$864M
TOTAL LIABILITIES	$1.3B
Common Stock	$117.0K
Additional Paid-In Capital	$1.1B
Retained Earnings	$217M
Treasury Stock	$0
Accum. Other Comp. Income	$0
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.3B
Minority Interest	$0
TOTAL EQUITY	$1.3B
TOTAL LIABILITIES & EQUITY	$2.6B
Total Debt	$1.2B
Net Debt	$1.1B