Hercules Capital (HTGC) Q3 2026 Earnings Call Transcript

Hercules Capital’s Q3 2026 earnings call highlighted stable income and portfolio metrics alongside softer prepayment expectations. Total investment income rose 1.5% to $140.1 million, while net investment income was $87.3 million, or $0.47 per share, providing 118% coverage of the quarter’s base cash distribution. Assets under management totaled $6.5 billion, up 17.7% year over year across public BDC and private credit funds. Year-to-date originations were $3.44 billion (+20%), and NAV increased to $12.26 per share. The company reported early loan repayments of $148.3 million, below guidance, and set Q4 prepayment guidance at $200 million to $300 million. Core yield was 11.9%, at the midpoint of its expected range, with GAAP effective yield at 12.3%.