Hercules Capital
Provides senior-secured venture-growth loans to VC-backed technology and life-sciences companies.
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Profile
Provides senior-secured venture-growth loans to VC-backed technology and life-sciences companies. It pairs this core lending activity with an adviser business that manages investments for external parties.
Provides senior-secured venture-growth loans to high-growth, VC-backed companies in technology and life sciences. The specialty-finance platform also provides debt and equity growth capital, building on an operating model it began in 2004. Its focus is on sectors where founders and venture capital firms seek financing for expansion.
Hercules Adviser LLC extends the platform beyond balance-sheet lending by managing investments for external parties. Since its 2003 inception, the company has committed capital to more than 700 companies. The structure brings lending and external-party asset management under one public specialty-finance platform, tied to the financing needs of venture-backed businesses.
Company facts
Categories
Key statistics
Year to date −7.3% · Average volume (30d) 1.7M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| May 18, 2026 | UBS | Reiterate | Neutral | $18.50 | $15.50 | |
| Feb 13, 2026 | Piper Sandler | Downgrade | Overweight | Neutral | $20.50 | $17.50 |
| Dec 15, 2025 | Capital One Financial | Target | $19.75 | |||
| Nov 4, 2025 | Compass Point | Upgrade | Neutral | Buy | $19.50 | |
| Oct 14, 2025 | UBS | Reiterate | Neutral | $20 | $18.50 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 30, 2026Q2 FY26 | $0.48 | $0.50 | +3.1% | $146.7M | $149.1M | +1.6% | +3.01% |
| May 5, 2026Q1 FY26 | $0.47 | $0.48 | +2.1% | $141.4M | $141.5M | +0.1% | −0.78% |
| Feb 12, 2026Q4 FY25 | $0.48 | $0.48 | 0.0% | $141.5M | $137.4M | −2.9% | −6.14% |
| Oct 30, 2025Q3 FY25 | $0.48 | $0.49 | +2.1% | $141.3M | $169.3M | +19.9% | +1.88% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $92.4M | $127.6M | $169.3M | $157.7M | $95.9M | $156.8M | |
| Gross profit | $72.7M | $104.7M | $145.1M | $154.7M | $67.8M | $153.6M | |
| Operating income | $50.3M | $78.9M | $119.7M | $116.3M | $42.5M | $158.3M | |
| Net income | $50.3M | $78.9M | $119.7M | $90.8M | $42.5M | $130.2M | |
| Diluted EPS | $0.29 | $0.43 | $0.63 | $0.48 | $0.23 | $0.65 | |
| Gross margin | 78.7% | 82.0% | 85.7% | 98.1% | 70.7% | 98.0% | |
| Operating margin | 54.5% | 61.8% | 70.7% | 73.7% | 44.3% | 101.0% |
Fiscal years (4-quarter sums)FY21 $311.3M · FY22 $239.4M · FY23 $494.1M · FY24 $430.9M · FY25 $547.1M
Balance sheet, Jun 30, 2026Cash & short-term investments $48.2M · Total debt $2.35B · Total assets $4.69B · Shareholders' equity $2.27B
Dividends
To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Aug 11, 2026 | Aug 11 | Aug 18 | $0.47 | |
| May 14, 2026 | May 14 | May 21 | $0.47 | special dividend |
| Feb 25, 2026 | Feb 25 | Mar 4 | $0.47 | special dividend |
| Nov 12, 2025 | Nov 12 | Nov 19 | $0.54 | special dividend |
| Aug 12, 2025 | Aug 12 | Aug 19 | $0.47 | special dividend |
| May 13, 2025 | May 13 | May 20 | $0.54 | special dividend |
| Feb 26, 2025 | Feb 26 | Mar 5 | $0.54 | special dividend |
| Nov 13, 2024 | Nov 13 | Nov 20 | $0.48 | special dividend |
Ownership
Shares outstanding 187.16M · Float 171.47M · 91.6% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Van Eck Associates Corp | 3.88M | 2.07% | 13F | Aug 14, 2026 |
| Sound Income Strategies, LLC | 3.67M | 1.96% | 13F | Jul 20, 2026 |
| Citadel Advisors LLC | 2.94M | 1.57% | 13F | Aug 14, 2026 |
| UBS Group AG | 2.65M | 1.41% | 13F | Aug 13, 2026 |
| Scott Bluestein · director, officer: Chief Executive Officer | 2.48M | 1.32% | Form 4 | Jul 13, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Mar 26, 2026 | Nikos Theodosopoulos | director | +7,317 | $14.35 |
| Mar 26, 2026 | Gayle A. Crowell | director | +7,317 | $14.35 |
| Mar 26, 2026 | Paramjeet K. Randhawa | director | +2,926 | $14.35 |
| Mar 26, 2026 | DeAnne Aguirre | director | +7,317 | $14.35 |
| Mar 26, 2026 | Thomas J. Fallon | director | +7,300 | $14.30 |
Peers
- Blue Owl Technology Finance
Technology-company debt and equity financing, focused on software
- Trinity Capital
Growth-company loans, equipment financing, and asset-based lending
- Runway Growth Finance
Senior-secured growth loans for technology and life-sciences companies
- TriplePoint Venture Growth BDC
Customized debt financing for VC-backed venture-growth companies
- Horizon Technology Finance
Secured venture loans for technology and life-sciences companies
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Hercules Capital | $17.52 | +0.22% | $3.27B | 8.8 | 9.0 | 5.6 | +86.7% |
| Blue Owl Technology Finance | $11.41 | +0.25% | $5.26B | 8.8 | 8.7 | 3.8 | +14.6% |
| Trinity Capital | $18.75 | +1.05% | $1.67B | 9.7 | 8.9 | 5.8 | +41.2% |
| Runway Growth Finance | $6.66 | +1.37% | $279.8M | 59.9 | 4.9 | 4.5 | +10.1% |
| TriplePoint Venture Growth BDC | $5.43 | 0.00% | $220.5M | 5.5 | 6.1 | 2.6 | −4.7% |
| Horizon Technology Finance | $4.75 | +0.85% | $235.4M | 13.5 | 6.6 | 2.3 | +2.1% |
| Median | 9.7 | 6.6 | 3.8 | +10.1% |