--- title: "Horizon Tech | 8-K: FY2026 Q1 Revenue Beats Estimate at USD 24.08 M" type: "News" locale: "en" url: "https://longbridge.com/en/news/285263528.md" datetime: "2026-05-05T20:39:13.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/285263528.md) - [en](https://longbridge.com/en/news/285263528.md) - [zh-HK](https://longbridge.com/zh-HK/news/285263528.md) --- # Horizon Tech | 8-K: FY2026 Q1 Revenue Beats Estimate at USD 24.08 M Revenue: As of FY2026 Q1, the actual value is USD 24.08 M, beating the estimate of USD 23.69 M. EPS: As of FY2026 Q1, the actual value is USD 0.06, missing the estimate of USD 0.1959. EBIT: As of FY2026 Q1, the actual value is USD -5.665 M. #### Net Investment Income (NII) Horizon Technology Finance Corp reported Net Investment Income (NII) of $9.0 million, or $0.19 per basic share, for the first quarter ended March 31, 2026, compared to $10.7 million, or $0.27 per basic share, for the prior-year period . Net investment income before excise tax was $9.2 million for the first quarter of 2026, compared to $11.1 million for the first quarter of 2025 . #### Total Investment Income Total investment income for the first quarter ended March 31, 2026, was $24.1 million, a decrease from $24.5 million for the quarter ended March 31, 2025 . This decrease was primarily due to lower interest income on debt investments from a smaller debt investment portfolio . #### Expenses Total expenses for the first quarter ended March 31, 2026, were $14.8 million, an increase from $13.4 million for the first quarter ended March 31, 2025 . This increase was mainly due to a $1.8 million rise in incentive fees, partially offset by a $0.5 million decrease in interest expense and a $0.1 million decrease in base management fee . #### Net Realized and Unrealized Loss Net realized loss on investments for the first quarter of 2026 was -$0.2 million, compared to a slight net realized gain for the first quarter of 2025 . Net realized loss on extinguishment of debt was -$1.4 million, or -$0.03 per basic share, for the first quarter of 2026 . Net unrealized depreciation on investments was -$4.6 million, or -$0.10 per basic share, for the first quarter of 2026, significantly lower than the -$32.2 million, or -$0.80 per basic share, for the prior-year period . #### Net Assets Resulting from Operations Net increase in net assets resulting from operations was $2.8 million, or $0.06 per basic share, for the first quarter of 2026, a notable improvement from a net decrease of -$21.4 million, or -$0.53 per basic share, for the first quarter of 2025 . #### Investment Portfolio As of March 31, 2026, the total investment portfolio was $695.7 million . The debt portfolio consisted of 41 secured loans with an aggregate fair value of $645.6 million . The company held warrant and equity positions in 91 companies with an aggregate fair value of $50.1 million . The annualized portfolio yield on debt investments for the quarter was 15.2% . During the quarter, Horizon Technology Finance Corp funded five loans totaling $120.0 million . #### Net Asset Value (NAV) Net asset value was $333.9 million, or $6.98 per share, as of March 31, 2026 . This compares to $305.5 million, or $7.57 per share, as of March 31, 2025, and $318.5 million, or $6.98 per share, as of December 31, 2025 . #### Liquidity and Capital Resources As of March 31, 2026, Horizon Technology Finance Corp had $105.3 million in available liquidity, comprising $73.3 million in cash and money market funds and $32.0 million in credit facility capacity . Borrowings totaled $447.2 million as of March 31, 2026, down from $473.0 million as of December 31, 2025 . The net debt to equity leverage ratio was 113%, which is below the company’s 120% targeted leverage, and the asset coverage ratio for borrowed amounts was 174% . #### Undistributed Spillover Income Undistributed spillover income was $0.52 per share as of March 31, 2026 . #### Distributions Horizon Technology Finance Corp declared regular monthly cash distributions of $0.06 per share and special monthly cash distributions of $0.03 per share, both payable in July, August, and September 2026 . The total distributions declared for the third quarter of 2026 amount to $0.27 per share, consisting of $0.18 regular and $0.09 special . #### Outlook/Guidance Management anticipates strong portfolio and pipeline growth, driven by new capital from the merger with Monroe Capital Corporation and Monroe Capital’s resources . The new RoHo joint venture is expected to offer additional growth financing options and contribute to portfolio expansion . With a strengthened balance sheet and robust pipeline, Horizon Technology Finance Corp aims to execute its growth strategy, remain a leading financial partner to the innovation economy, and drive long-term shareholder value . ### Related Stocks - [HRZN.US](https://longbridge.com/en/quote/HRZN.US.md) ## Related News & Research - [The Home Depot Announces First Quarter Fiscal 2026 Results; Reaffirms Fiscal 2026 Guidance | HD Stock News](https://longbridge.com/en/news/286890512.md) - [Endeavour Announces Results of Annual General Meeting 2026 | EDVMF Stock News](https://longbridge.com/en/news/287245296.md) - [Advance Auto Parts Reports First Quarter 2026 Results; Reaffirms Full Year 2026 Guidance | AAP Stock News](https://longbridge.com/en/news/287202242.md) - [ONWARD Medical to Announce First Quarter 2026 Results on May 26, 2026 | ONWRY Stock News](https://longbridge.com/en/news/286858298.md) - [Copart Reports Third Quarter Fiscal 2026 Financial Results | CPRT Stock News](https://longbridge.com/en/news/287267665.md)