Revenue: As of FY2025 Q3, the actual value is USD 26.32 M, beating the estimate of USD 22.99 M.EPS: As of FY2025 Q3, the actual value is USD 0.68, beating the estimate of USD 0.2792.EBIT: As of FY2025 Q3, the actual value is USD -2.027 M.<h3>Segment Revenue</h3><ul><li>Non-affiliate investments: $557,582 thousand as of September 30, 2025, compared to $657,765 thousand as of December 31, 2024.</li><li>Non-controlled affiliate investments: $44,816 thousand as of September 30, 2025, compared to $8,307 thousand as of December 31, 2024.</li><li>Controlled affiliate investments: $1,116 thousand as of September 30, 2025, compared to $31,819 thousand as of December 31, 2024.</li></ul><h3>Operational Metrics</h3><ul><li>Net investment income: $13,993 thousand for the three months ended September 30, 2025, compared to $11,837 thousand for the same period in 2024.</li><li>Net realized loss on investments: - $22,527 thousand for the three months ended September 30, 2025, compared to - $33,894 thousand for the same period in 2024.</li><li>Net unrealized appreciation on investments: $40,517 thousand for the three months ended September 30, 2025, compared to $29,335 thousand for the same period in 2024.</li></ul><h3>Cash Flow</h3><ul><li>Net cash provided by operating activities: $87,055 thousand for the nine months ended September 30, 2025, compared to $30,073 thousand for the same period in 2024.</li><li>Net cash used in financing activities: - $57,016 thousand for the nine months ended September 30, 2025, compared to - $19,147 thousand for the same period in 2024.</li></ul><h3>Unique Metrics</h3><ul><li>Total investments at fair value: $603,514 thousand as of September 30, 2025, compared to $697,891 thousand as of December 31, 2024.</li><li>Net asset value per common share: $7.12 as of September 30, 2025, compared to $8.43 as of December 31, 2024.</li></ul><h3>Future Outlook and Strategy</h3><ul><li>Core Business Focus: Horizon Technology Finance Corporation aims to continue its focus on making secured debt and venture lending investments to venture capital-backed companies in the technology, life science, healthcare information and services, cleantech, and sustainability industries.</li><li>Non-Core Business: The company plans to manage its non-core investments and explore potential divestitures to optimize its portfolio and enhance shareholder value.</li></ul>

Horizon Tech | 10-Q: FY2025 Q3 Revenue Beats Estimate at USD 26.32 M