Horizon Tech

Q2 FY2026 EarningsQ2 FY26 performance was mixed with a top-line beat but significant earnings miss. Total investment income reached $25.0M, slightly exceeding the $25.2M consensus (inline), but GAAP EPS of -$0.57 significantly missed the $0.11 expected due to $38.5M in unrealized depreciation and $4.4M in one-time merger costs. NAV per share dropped to $6.23 vs. $6.83 expected, primarily driven by credit deterioration in a specific portfolio company. Despite these headwinds, the Monroe Capital merger was completed, and the stock repurchase program was doubled to $20M.