Hercules Capital Q2 2026: Record NII of $0.50/Share, $0.9B in New Commitments, and $325M Debt Issuance
HTGC sits 18% above its 52-week low of $13.7.
Summary
Hercules Capital reported record Q2 2026 NII of $0.50 per share, declared a $0.47 distribution, and originated a record $0.9 billion in new commitments. The company also issued $325 million in senior notes after quarter-end, extending its debt maturity profile.
Key Events · Earnings and Guidance · HTGC
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Record NII of $0.50/Share
Net investment income reached $92.9 million, or $0.50 per share, for Q2 2026, up from $0.50 in the prior-year quarter and fully covering the $0.47 distribution.
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Record $0.9B in New Commitments
The company originated a record $0.9 billion in new debt and equity commitments during the quarter, driving total investment portfolio growth to $4.58 billion at fair value.
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NAV Per Share Rises to $12.15
Net asset value per share increased to $12.15 from $12.13 at year-end 2025, reflecting net investment income in excess of distributions and net unrealized appreciation on investments.
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$325M Senior Notes Issued After Quarter-End
On July 24, 2026, Hercules issued $325 million of 6.300% senior unsecured notes due 2031, extending its debt maturity profile and bolstering liquidity.
Analysis · HTGC · Unknown
Hercules Capital delivered a standout quarter, posting record net investment income of $0.50 per share — fully covering its $0.47 distribution — and originating a record $0.9 billion in new commitments. The balance sheet strengthened with NAV per share rising to $12.15, and the company further bolstered liquidity by issuing $325 million in 6.300% senior notes after quarter-end. The results confirm the platform's ability to generate strong risk-adjusted returns even as it scales, though the disclosure of a now-dismissed shareholder class action and ongoing derivative suits adds a governance overhang that warrants monitoring.
At the time of this filing, HTGC was trading at $16.13 on NYSE in the Unknown sector, with a market capitalization of approximately $3B. The 52-week trading range was $13.70 to $19.67. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.