Horizon Technology Finance Corporation Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
October 01, 2023 at 01:52 am IST
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Horizon Technology Finance Corporation reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported revenue was USD 29.14 million compared to USD 23.25 million a year ago. Net loss was USD 11.98 million compared to net income of USD 5.99 million a year ago. Basic loss per share from continuing operations was USD 0.37 compared to basic earnings per share from continuing operations of USD 0.23 a year ago.
For the nine months, revenue was USD 85.29 million compared to USD 56.05 million a year ago. Net loss was USD 6.52 million compared to net income of USD 17.13 million a year ago. Basic loss per share from continuing operations was USD 0.22 compared to basic earnings per share from continuing operations of USD 0.71 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.