Horizon Technology Finance Corporation Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 02, 2023 at 02:02 am IST
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Horizon Technology Finance Corporation reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported revenue was USD 28.12 million compared to USD 18.59 million a year ago. Net income was USD 0.152 million compared to USD 7.62 million a year ago. Basic earnings per share from continuing operations was USD 0.01 compared to USD 0.31 a year ago.
For the six months, revenue was USD 56.15 million compared to USD 32.79 million a year ago. Net income was USD 5.46 million compared to USD 11.14 million a year ago. Basic earnings per share from continuing operations was USD 0.19 compared to USD 0.48 a year ago.
Horizon Technology Finance Corporation is a specialty finance company that provides capital in the form of secured loans to venture capital backed companies in the technology, life science, healthcare information and services, and sustainability industries. The Company's investment objective is to maximize its investment portfolio's return by generating current income from the debt investments it makes and capital appreciation from the warrants it receives when making such debt investments. It is focused on making secured debt investments to venture capital and private equity backed companies and publicly traded companies in its target industries. It seeks to invest in companies that vary by their stage of development, their target industries and sectors of target industries and their geographical location, as well as by the venture capital and private equity sponsors that support its portfolio companies. The Company is externally managed by Horizon Technology Finance Management LLC.