Hercules Capital, Inc. filed its Form 10-Q for the quarterly period ended September 30, 2026, with the SEC on October 29, 2026, reporting net investment income of $87.349 million for the third quarter and total net assets of $2.324713 billion.

Key Highlights

  • Total net assets: $2,324,713 thousand as of September 30, 2026, up from $2,216,053 thousand as of December 31, 2025, according to the filing.
  • Net asset value per share: $12.26 as of September 30, 2026, compared with $12.13 as of December 31, 2025, the filing disclosed.
  • Q3 2026 net investment income: $87,349 thousand for the three months ended September 30, 2026, versus $88,552 thousand in the same period of 2025.
  • Total investment income: $140,115 thousand for Q3 2026 and $430,765 thousand for the nine months ended September 30, 2026, the registrant reported.
  • Total investments at fair value: $4,845,903 thousand as of September 30, 2026, against a cost of $4,865,670 thousand, according to the filing.
  • Shares outstanding: 189,548,796 shares of common stock outstanding as of October 22, 2026, the filing stated.
  • Distributions paid per share: $0.47 per basic common share for Q3 2026, consistent with the same quarter of 2025, the company disclosed.

Hercules Capital Reports Q3 2026 Financial Results and Portfolio Details

Hercules Capital, Inc. (NYSE:HTGC), a Maryland-incorporated business development company, filed its quarterly report covering the period ended September 30, 2026. According to the filing, total investment income for the three months ended September 30, 2026 was $140,115 thousand, compared with $138,093 thousand for the same period in 2025. For the nine-month period, total investment income reached $430,765 thousand versus $395,063 thousand a year earlier. Net investment income for Q3 2026 was $87,349 thousand, and for the nine months ended September 30, 2026 it was $268,374 thousand.

The filing reported that total net operating expenses for Q3 2026 were $52,766 thousand, after deducting $4,722 thousand allocated to the Adviser Subsidiary. Net increase in net assets resulting from operations was $93,568 thousand for Q3 2026 and $266,251 thousand for the nine months ended September 30, 2026. On a per-share basis, net investment income before gains and losses was $0.47 basic for Q3 2026, and the change in net assets resulting from operations was $0.50 basic and $0.48 diluted for the same quarter, according to the filing.

The company's consolidated balance sheet as of September 30, 2026 showed total assets of $4,952,611 thousand and total liabilities of $2,627,898 thousand. Total debt, net of unamortized debt issuance costs of $32,909 thousand, stood at $2,550,470 thousand. The filing also noted that non-control/non-affiliate investments had a fair value of $4,720,837 thousand against a cost of $4,740,327 thousand, while control investments carried a fair value of $122,030 thousand against a cost of $114,659 thousand. A public offering during Q3 2026 raised approximately $39,198 thousand net of offering expenses, resulting in 2,290 thousand additional shares issued, according to the filing.

What Was Disclosed

Hercules Capital filed its 10-Q for Q3 2026, disclosing net assets of $2.324713 billion, a net asset value per share of $12.26, total investment income of $140,115 thousand for the quarter, and distributions of $0.47 per basic share for the three months ended September 30, 2026.