The following is a summary of the Horizon Technology Finance (HRZN) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Horizon reported Q3 net investment income of $0.32 per share, slightly below their distribution level.

• They declared monthly distributions of $0.11 per share through March 2025.

• A substantial growth in portfolio from $654 million to $684 million, marking a 6% increase.

• An operating performance led by a 13.2% onboarding debt investment yield and a robust debt portfolio yield of 15.9%.

Business Progress:

• Horizon enhanced its investment capacity by raising equity through its at-the-market program and expanded its portfolio size.

• The company closed $173 million in new loan commitments and approvals.

• Actively working with portfolio companies to maximize outcomes and prudently grow the portfolio based on a solid base of opportunities.

Opportunities:

• The venture ecosystem is showing signs of recovery which Horizon believes will provide strong opportunity in the coming quarters to fund high-quality venture debt investments.

• They anticipate substantial demand for venture debt capital, especially given recent strategic partnerships that fortify Horizon's capital resources.

Risks:

• There are uncertainties in predicting future results impacted by varying market conditions and economic fluctuations, which could cause actual outcomes to differ materially.

• Horizon faces risks associated with potential non-accruals and requires active engagement to resolve stressed investments effectively.

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