Know the company
Company overview
Horizon lends to venture-backed businesses in technology, life sciences, healthcare information and sustainability. Interest and lending fees from those secured loans are its main recurring income. Warrants and other equity interests can add gains, but they are less predictable. Borrowing costs, operating expenses and a growth company that stops paying can all change the net investment income available for a dividend.
- Business
- BDC
- Listing
- HRZN · XNAS
- Reporting period
- 2026-06-30
- Dividend schedule
- Monthly
How the business works
Cash available for distributions is principally driven by interest and fee collections from Horizon's loan portfolio, less cash operating costs and interest paid on its borrowings. A larger performing loan portfolio, stronger portfolio yields, and manageable funding costs can support net investment income. Conversely, borrower repayment, non-accrual loans, reduced fee income, lower investment balances, or higher financing costs can reduce the recurring cash generation available for distributions. Equity-linked investment gains may add to taxable income or liquidity in some periods, but they are not a substitute for sustained recurring net investment income.
Horizon Technology Finance Corporation: 10-Q supporting reported earnings