TRINI (Trinity Capital Inc. 7.875% Notes Due 2029) Stock Financials & Earnings | Market Cap Arena

TRINI (Trinity Capital Inc. 7.875% Notes Due 2029) Stock Financials & Earnings | Market Cap Arena

TRINITrinity Capital Inc. 7.875% Notes Due 2029

Mkt Cap$1B

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

Revenue (TTM)$252M

Net Income (TTM)$136M

EPS (TTM)$2.09

Free Cash Flow (TTM)-$535M

Gross Margin90.4%

Op. Margin85.7%

Net Margin53.7%

FCF Margin-212.2%

P/S Ratio (TTM)4.5x

P/E Ratio (TTM)8.4x

YoY Rev Growth+12.5%

Employees—

Earnings Reports

Revenue & Profitability

Quarter	Revenue	Gross Profit	Op. Income
Q1 23	$41M	$41M	$30M
Q2 23	$45M	$45M	$33M
Q3 23	$45M	$45M	$33M
Q4 23	$45M	$45M	$33M
Q1 24	$49M	$49M	$37M
Q2 24	$52M	$52M	$38M
Q3 24	$48M	$48M	$41M
Q4 24	$75M	$80M	$65M
Q1 25	$63M	$52M	$48M
Q2 25	$67M	$54M	$50M
Q3 25	$73M	$59M	$49M
Q4 25	$50M	$63M	$70M

Revenue Breakdown

Valuation

Quarter	P/S	P/E
Q1 23	7.5x	965.5x
Q2 23	7.0x	39.4x
Q3 23	6.6x	19.7x
Q4 23	6.5x	14.7x
Q1 24	6.2x	16.4x
Q2 24	5.9x	14.2x
Q3 24	5.8x	13.0x
Q4 24	5.1x	9.8x
Q1 25	4.8x	8.8x
Q2 25	4.5x	8.2x
Q3 25	4.1x	8.0x
Q4 25	4.5x	8.4x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 23	$8M	$8M
Q2 23	$14M	$13M
Q3 23	$22M	$21M
Q4 23	-$136M	-$137M
Q1 24	-$81M	-$81M
Q2 24	-$22M	-$22M
Q3 24	$25M	$25M
Q4 24	$32M	$32M
Q1 25	-$63M	-$63M
Q2 25	-$124M	-$124M
Q3 25	-$350M	-$350M
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	$180K
Q4 25	$180K

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 23	+42.7%	+20.1%
Q2 23	+37.0%	+21.3%
Q3 23	+21.2%	+15.1%
Q4 23	+9.8%	+26.6%
Q1 24	+21.9%	+18.8%
Q2 24	+16.4%	+18.2%
Q3 24	+6.6%	-42.0%
Q4 24	+67.8%	-12.6%
Q1 25	+26.9%	+21.0%
Q2 25	+28.7%	+23.5%
Q3 25	+51.2%	+255.1%
Q4 25	-32.9%	-290.9%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 23	$0	0.0%
Q2 23	$0	0.0%
Q3 23	$0	0.0%
Q4 23	$2M	5.3%
Q1 24	$2M	5.0%
Q2 24	$3M	5.6%
Q3 24	$0	0.0%
Q4 24	$0	0.0%
Q1 25	$3M	4.2%
Q2 25	$3M	4.8%
Q3 25	$3M	4.2%
Q4 25	$3M	6.3%

OpEx Breakdown

Quarter	G&A	S&M
Q1 23	$3M	$8M
Q2 23	$3M	$9M
Q3 23	$3M	$9M
Q4 23	$3M	$9M
Q1 24	$2M	$10M
Q2 24	$3M	$10M
Q4 24	$9M	—
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	$2M	34
FY 21	$2M	34
FY 22	$278K	500
FY 23	$350K	500
FY 24	$453K	500
FY 25	$465K	500