Horizon Technology Finance Q3 net investment income per share falls
HRZN•Horizon Technology Finance said Q3 net investment income per share fell year over year as lower interest income on debt investments reduced total investment income. The company repurchased $10 million of shares during the quarter and said its investment pipeline grew 14% sequentially to $351 million.
1. Quarterly performance
Horizon Technology Finance said its Q3 net investment income per share and total investment income fell year over year. The company attributed the decline in total investment income mainly to lower interest income on debt investments, and said a lower portfolio yield reflected prior-year recognition of accrued interest from settled non-accrual loans.
2. Portfolio and distributions
The debt investment portfolio grew for a fourth consecutive quarter, with the company funding nine loans totaling $98.4 million. The investment pipeline grew 14% sequentially to $351 million at quarter end; the company also repurchased $10 million of shares and declared monthly distributions of $0.06 per share for January, February and March 2027.
