- Horizon Technology Finance (NASDAQ:HRZN) stock slips 1.4% in after-hours trading after Q4 net investment income of 21 cents per share misses the average analyst estimate of 28 cents and decreased from 43 cents in the year-ago quarter.
- Q4 results were hurt by low origination volume in Q3 as well as lower income from prepayments.
- "We did originate nearly $77M of new loans during the fourth quarter which we expect to provide a strong foundation to generate additional NII in the first quarter of 2021," said Chairman and CEO Robert D. Pomeroy, Jr.
- Net asset value of $11.02 per share at Dec. 31, 2020 vs. $11.17 at Sept. 30, 2020.
- Q4 total investment income of $10.1M misses the consensus estimate of $11.0M and declined from $13.0M in the year-ago quarter, due to lower interest income on investments resulting from a lower debt investment portfolio.
- Dollar-weighted annualized yield on average debt investments was 13.0% for the quarter ended Dec. 31, 2020 vs. 17.6% for the quarter ended Dec. 31, 2019.
- Net increase in net assets resulting from operations was $2.4M, or 13 cents per share, in Q4 2020 vs. net increase in net assets resulting from operations of $6.7M, or 45 cents per share, in the year-ago quarter.
- Portfolio increased to $352.5M at the end of the quarter vs. $311.8M at the beginning of Q4 2020.
- Conference call on March 3 at 9:00 AM ET.
- Previously (March 2): Horizon Technology Finance EPS misses by $0.07, misses on total investment income