TRIN (Trinity Capital Inc.) Stock Financials & Earnings | Market Cap Arena

TRIN (Trinity Capital Inc.) Stock Financials & Earnings | Market Cap Arena

TRINTrinity Capital Inc.

Mkt Cap$1B

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

Revenue (TTM)$253M

Net Income (TTM)$136M

EPS (TTM)$1.96

Free Cash Flow (TTM)$69M

Gross Margin77.6%

Op. Margin63.8%

Net Margin53.6%

FCF Margin27.2%

P/S Ratio (TTM)4.1x

P/E Ratio (TTM)7.7x

YoY Rev Growth+6.5%

Employees—

Earnings Reports

Revenue & Profitability

Quarter	Revenue	Gross Profit	Op. Income
Q1 23	$45M	$34M	$23M
Q2 23	$44M	$32M	$21M
Q3 23	$40M	$29M	$17M
Q4 23	$40M	$30M	$18M
Q1 24	$40M	$28M	$15M
Q2 24	$59M	$45M	$31M
Q3 24	$57M	$40M	$25M
Q4 24	$82M	$63M	$47M
Q1 25	$60M	$42M	$28M
Q2 25	$76M	$58M	$42M
Q3 25	$66M	$45M	$28M
Q4 25	$50M	$50M	$63M

Revenue Breakdown

Valuation

Quarter	P/S	P/E
Q1 23	12.8x	884.7x
Q2 23	9.0x	36.1x
Q3 23	7.1x	18.0x
Q4 23	6.2x	13.5x
Q1 24	6.3x	15.1x
Q2 24	5.8x	13.0x
Q3 24	5.3x	11.9x
Q4 24	4.4x	9.0x
Q1 25	4.0x	8.1x
Q2 25	3.8x	7.5x
Q3 25	3.7x	7.3x
Q4 25	4.1x	7.7x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 23	$21M	$20M
Q2 23	$14M	$13M
Q3 23	$22M	$21M
Q4 23	-$136M	-$137M
Q1 24	-$81M	-$81M
Q2 24	-$22M	-$22M
Q3 24	-$232M	-$232M
Q4 24	$18M	$18M
Q1 25	-$2M	-$2M
Q2 25	$43M	$43M
Q3 25	$27M	$27M
Q4 25	$1M	$1M

Capital Expenditures

CapEx

Quarter	CapEx
Q1 23	$343K
Q2 23	$1M
Q3 23	$749K
Q4 23	$525K
Q1 24	$33K
Q2 24	$126K
Q3 24	$125K
Q4 24	$136K
Q1 25	$106K
Q2 25	$180K
Q3 25	$71K
Q4 25	$180K

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 23	+523.2%	+38.9%
Q2 23	+337.4%	+36.3%
Q3 23	+394.5%	+15.5%
Q4 23	+121.3%	+13.4%
Q1 24	-10.9%	+14.1%
Q2 24	+34.0%	+17.0%
Q3 24	+42.5%	+41.9%
Q4 24	+102.9%	+60.6%
Q1 25	+51.0%	+31.3%
Q2 25	+29.6%	+24.9%
Q3 25	+16.6%	+19.4%
Q4 25	-38.6%	-136.5%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 23	$2M	3.9%
Q2 23	$0	0.0%
Q3 23	$0	0.0%
Q4 23	$2M	5.9%
Q1 24	$2M	6.2%
Q2 24	$3M	4.9%
Q3 24	$3M	5.0%
Q4 24	$2M	2.9%
Q1 25	$0	0.0%
Q2 25	$0	0.0%
Q3 25	$0	0.0%
Q4 25	$3M	6.3%

OpEx Breakdown

Quarter	G&A
Q1 23	$3M
Q2 23	$3M
Q3 23	$3M
Q4 23	$3M
Q1 24	$3M
Q2 24	$3M
Q3 24	$4M
Q4 24	$5M
Q1 25	$4M
Q2 25	$4M
Q3 25	$5M
Q4 25	$5M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 23	$8M	$0	$8M
Q2 23	$12M	$0	$12M
Q3 23	$7M	$0	$7M
Q4 23	$5M	$0	$5M
Q1 24	$12M	$0	$12M
Q2 24	$46M	$0	$46M
Q3 24	$9M	$0	$9M
Q4 24	$10M	$0	$10M
Q1 25	$8M	$0	$8M
Q2 25	$26M	$0	$26M
Q3 25	$9M	$0	$9M
Q4 25	$19M	$0	$19M

Shares Outstanding

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change
Q1 23	39M	+10.3%
Q2 23	40M	+2.5%
Q3 23	44M	+10.5%
Q4 23	48M	+9.7%
Q1 24	51M	+5.2%
Q2 24	54M	+6.9%
Q3 24	58M	+8.0%
Q4 24	63M	+8.7%
Q1 25	63M	-1.4%
Q2 25	66M	+5.4%
Q3 25	71M	+8.4%
Q4 25	77M	+7.8%

Revenue Per Employee

Revenue / Employee

Year	Revenue/Employee	Employees
FY 19	—	—
FY 20	$1M	34
FY 21	$5M	34
FY 22	$87K	500
FY 23	$350K	500
FY 24	$475K	500
FY 25	$465K	500