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Horizon Technology Finance Corporation logo

Horizon Technology Finance Corporation

HRZN

NASDAQFinancial ServicesAsset Management

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Previous close

$4.82

−$0.10 · -2.03%

Aug 21, 4:00 PM ET

HRZN company overview

Regular session · ET · Market data may be delayed.

GoAI snapshot

AI-powered factor overview

Jul 10, 2026

GoAI score

Hold

Wait — insufficient conviction to act

Valuation

73

Undervalued

Momentum

34

Weakening

Sentiment

63

Bullish

Risk resilience

40

Elevated Risk

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Company profile

Company website

Horizon Technology Finance Corporation operates as a business development company (BDC) with a core focus on providing financing and making equity investments in businesses in their early growth phases. The firm primarily offers secured debt and venture loans to companies that have already secured funding from venture capital firms. Its investment interests span various industries, including technology, life sciences, healthcare information and services, and clean technology. Geographically, Horizon Technology Finance Corporation directs its investments towards companies situated within the United States.

Industry
Asset Management
Sector
Financial Services
Headquarters
US
CEO
Michael Phillip Balkin
Listed since
Oct 29, 2010
Employees
0

Market position

Day range

Current $4.82

52-week range

Current $4.82

Open
$4.91
Previous close
$4.92
Volume
685.89K
0.82× average
Average volume
838.05K
Average daily volume
Market cap
241.39M USD
Beta
0.97
Market reference 1
50-day average
$4.5898
+5.02% above average
200-day average
$5.2813
-8.73% below average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value
640.66M USD
P/E (TTM)
12.09×
P/B (TTM)
0.75×
P/S (TTM)
2.33×
EV / EBITDA
-400.91×
Earnings yield
-0.97%
Free cash flow yield
20.73%
Dividend yield
23.03%

Profitability & efficiency

Gross margin
75.84%
Operating margin
26.29%
Net margin
4.89%
Return on equity
-0.84%
Return on assets
-0.33%
Return on invested capital
-0.20%

Financial health

Debt / equity
0.96×
Current ratio
1.24×

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends90%24%-41%-106%Gross margin, FY2021: 73.43%Gross margin, FY2022: 58.11%Gross margin, FY2023: -51.68%Gross margin, FY2024: 4.97%Gross margin, FY2025: 18.03%Operating margin, FY2021: 62.21%Operating margin, FY2022: 47.70%Operating margin, FY2023: -82.17%Operating margin, FY2024: -12.25%Operating margin, FY2025: -3.99%Net margin, FY2021: 61.33%Net margin, FY2022: 46.14%Net margin, FY2023: -89.97%Net margin, FY2024: -16.60%Net margin, FY2025: -6.65%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 73.43%. Gross margin FY2022 58.11%. Gross margin FY2023 -51.68%. Gross margin FY2024 4.97%. Gross margin FY2025 18.03%. Operating margin FY2021 62.21%. Operating margin FY2022 47.70%. Operating margin FY2023 -82.17%. Operating margin FY2024 -12.25%. Operating margin FY2025 -3.99%. Net margin FY2021 61.33%. Net margin FY2022 46.14%. Net margin FY2023 -89.97%. Net margin FY2024 -16.60%. Net margin FY2025 -6.65%.

Income trends

Revenue

40.02M USD+17.91%

Operating income

−1.6M USD+61.56%

Net income

−2.66M USD+52.76%
Income trends across reported periods52.15M USD26.94M USD1.72M USD−23.49M USDRevenue, FY2021: 45.3M USDRevenue, FY2022: 45.84M USDRevenue, FY2023: 19.1M USDRevenue, FY2024: 33.94M USDRevenue, FY2025: 40.02M USDOperating income, FY2021: 28.18M USDOperating income, FY2022: 21.87M USDOperating income, FY2023: −15.7M USDOperating income, FY2024: −4.16M USDOperating income, FY2025: −1.6M USDNet income, FY2021: 27.78M USDNet income, FY2022: 21.15M USDNet income, FY2023: −17.19M USDNet income, FY2024: −5.63M USDNet income, FY2025: −2.66M USDFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 45.3M USD. Revenue FY2022 45.84M USD. Revenue FY2023 19.1M USD. Revenue FY2024 33.94M USD. Revenue FY2025 40.02M USD. Operating income FY2021 28.18M USD. Operating income FY2022 21.87M USD. Operating income FY2023 −15.7M USD. Operating income FY2024 −4.16M USD. Operating income FY2025 −1.6M USD. Net income FY2021 27.78M USD. Net income FY2022 21.15M USD. Net income FY2023 −17.19M USD. Net income FY2024 −5.63M USD. Net income FY2025 −2.66M USD.
Metric (USD)FY2025FY2024FY2023FY2022FY2021
Revenue40.02M USD33.94M USD19.1M USD45.84M USD45.3M USD
Cost of goods sold32.81M USD32.26M USD28.97M USD19.2M USD12.03M USD
Gross profit7.22M USD1.69M USD−9.87M USD26.64M USD33.27M USD
Selling, general, and administrative6M USD5.84M USD5.67M USD4.78M USD4.69M USD
Operating expenses8.82M USD5.84M USD5.82M USD4.78M USD5.08M USD
Interest income90.46M USD96.97M USD110.13M USD77.37M USD54.41M USD
Interest expense32.81M USD32.26M USD28.97M USD19.2M USD12.03M USD
Depreciation and amortization———1.6M USD1.09M USD
Operating income−1.6M USD−4.16M USD−15.7M USD21.87M USD28.18M USD
Net income−2.66M USD−5.63M USD−17.19M USD21.15M USD27.78M USD

Company facts updated Aug 24, 2026.

Earnings

EPS beat rate
27%
3 beats, 6 misses, 2 met estimates
Average EPS surprise
-7.28%
11 comparable reports
Latest EPS result
0.11
Estimate 0.13 · Miss by 12.77%

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly EPS actual values compared with estimates0.370.280.190.09Q1 '25MissQ2 '25MissQ3 '25MetQ4 '25BeatQ1 '26MissQ2 '26MetQ3 '26MissQ4 '26Estimate
Q1 2025, reported Mar 4, 2025: actual 0.27, estimate 0.33, surprise -18.18%, Miss. Q2 2025, reported Apr 29, 2025: actual 0.27, estimate 0.33, surprise -18.18%, Miss. Q3 2025, reported Aug 7, 2025: actual 0.28, estimate 0.28, surprise 0.00%, Met estimate. Q4 2025, reported Oct 28, 2025: actual 0.31, estimate 0.28, surprise +10.71%, Beat. Q1 2026, reported Mar 3, 2026: actual 0.18, estimate 0.292, surprise -38.27%, Miss. Q2 2026, reported May 5, 2026: actual 0.19, estimate 0.19, surprise 0.00%, Met estimate. Q3 2026, reported Aug 4, 2026: actual 0.11, estimate 0.126, surprise -12.77%, Miss. Q4 2026, reported Oct 27, 2026: actual —, estimate 0.18, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly Revenue actual values compared with estimates45.73M25.56M5.39M-14.78MQ1 '25MissQ2 '25MissQ3 '25BeatQ4 '25BeatQ1 '26MissQ2 '26BeatQ3 '26MissQ4 '26Estimate
Q1 2025, reported Mar 4, 2025: actual -10.61M USD, estimate 25.68M USD, surprise -141.29%, Miss. Q2 2025, reported Apr 29, 2025: actual 24.52M USD, estimate 26.67M USD, surprise -8.09%, Miss. Q3 2025, reported Aug 7, 2025: actual 24.52M USD, estimate 24.46M USD, surprise +0.23%, Beat. Q4 2025, reported Oct 28, 2025: actual 41.56M USD, estimate 25.74M USD, surprise +61.46%, Beat. Q1 2026, reported Mar 3, 2026: actual 20.67M USD, estimate 21.58M USD, surprise -4.23%, Miss. Q2 2026, reported May 5, 2026: actual 24.08M USD, estimate 22.86M USD, surprise +5.32%, Beat. Q3 2026, reported Aug 4, 2026: actual 25.05M USD, estimate 25.22M USD, surprise -0.71%, Miss. Q4 2026, reported Oct 27, 2026: actual —, estimate 24.42M USD, surprise —, Comparison unavailable.

Analyst ratings

Third-party consensus; not a GoAI recommendation.

Analyst price target

Average target

$4.63

3.94% downside
Past 12 months12-month forecastHigh $5.00Average $4.63Low $4.25

Rating distribution

22 ratings
Strong buy00%
Buy523%
Hold1568%
Sell29%
Strong sell00%

Recent analyst actions

7 institutions
Ladenburg ThalmanndowngradeBuyNeutral

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ETFs holding HRZN

Funds reporting this stock among their holdings, ordered by reported position size.

Virtus Private Credit Strategy ETF logoVirtus Private Credit Strategy ETFVPC
Market value
1.16M
Weight
3.88%
AUM
30.68M USD
Expense ratio
10.60%
Price / 1D
$15.745+0.19%

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