Hercules Capital, Inc. is a business development company. The firm specializing in providing venture debt, debt, senior secured loans, and growth capital to privately held venture capital-backed companies at all stages of development from startups, to expansion stage including select publicly listed companies and select special opportunity lower middle market companies that require additional capital to fund acquisitions, recapitalizations and refinancing and established-stage companies. The firm provides growth capital financing solutions for capital extension; management buy-out and corporate spin-out financing solutions; company, asset specific, or intellectual property acquisition financing; convertible, subordinated and/or mezzanine loans; domestic and international corporate expansion; vendor financing; revenue acceleration by sales and marketing development, and manufacturing expansion. It provides asset-based financing with a focus on cash flow; accounts receivable facilities; equipment loans or leases; equipment acquisition; facilities build-out and/or expansion; working capital revolving lines of credit; inventory. The firm also provides bridge financing to IPO or mergers and acquisitions or technology acquisition; dividend recapitalizations and other sources of investor liquidity; cash flow financing to protect against share price volatility; competitor acquisition; pre-IPO financing for extra cash on the balance sheet; public company financing to continue asset growth and production capacity; short-term bridge financing; and strategic and intellectual property acquisition financings. It also focuses on customized financing solutions, emerging growth, mid venture, and late venture financing. The firm invests primarily in structured debt with warrants and, to a lesser extent, in senior debt and equity investments. The firm generally seeks to invest in companies that have been operating for at least six to 12 months prior to the date of their investment. It prefers to invest in technology, energy technology, sustainable and renewable technology, and life sciences. Within technology the firm focuses on advanced specialty materials and chemicals; communication and networking, consumer and business products; consumer products and services, digital media and consumer internet; electronics and computer hardware; enterprise software and services; gaming; healthcare services; information services; business services; media, content and information; mobile; resource management; security software; semiconductors; semiconductors and hardware; and software sector. Within energy technology, it invests in agriculture; clean technology; energy and renewable technology, fuels and power technology; geothermal; smart grid and energy efficiency and monitoring technologies; solar; and wind. Within life sciences, the firm invests in biopharmaceuticals; biotechnology tools; diagnostics; drug discovery, development and delivery; medical devices and equipment; surgical devices; therapeutics; pharma services; and specialty pharmaceuticals. It also invests in educational services. The firm invests primarily in United States based companies and considers investment in the West Coast, Mid-Atlantic regions, Southeast and Midwest; particularly in the areas of software, biotech and information services. The firm prefers to invest between $10 million to $250 million in equity per transactions. It invests generally between $1 million to $40 million in companies focused primarily on business services, communications, electronics, hardware, and healthcare services. The firm invests primarily in private companies but also have investments in public companies. For equity investments, the firm seeks to represent a controlling interest in its portfolio companies which may exceed 25% of the voting securities of such companies. The firm seeks to invest a limited portion of its assets in equipment-based loans to early-stage prospective portfolio companies. These loans are generally for amounts up to $3 million but may be up to $15 million for certain energy technology venture investments. The firm allows certain debt investments have the right to convert a portion of the debt investment into equity. It also co-invests with other private equity firms. The firm seeks to exit its investments through initial public offering, a private sale of equity interest to a third party, a merger or an acquisition of the company or a purchase of the equity position by the company or one of its stockholders. The firm has structured debt with warrants which typically have maturities of between two and seven years with an average of three years; senior debt with an investment horizon of less than three years; equipment loans with an investment horizon ranging from three to four years; and equity related securities with an investment horizon ranging from three to seven years. The firm prefers to invest through its balance sheet capital. The firm formerly known as Hercules Technology Growth Capital, Inc. Hercules Capital, Inc. was founded in December 2003 and is based in Palo Alto, California with additional offices in Connecticut; Boston, Massachusetts; San Diego, California; Westport, Connecticut; Elmhurst, Illinois; Santa Monica, California; McLean, Virginia; New York, New York; Radnor, Pennsylvania; and Washington, District of Columbia and London, United Kingdom.

Hercules Capital, Inc.

New England Venture Network is an organization of over 600 venture capitalists in Boston and greater New England designed to foster a vibrant and connected community in the area. The organization focuses on building relationships among peers and improving the New England technology and investment landscape in high tech, life science, and clean tech.

New England Venture Network

Hercules Capital, Inc. (NYSE: HTGC) is the leading and largest specialty finance company focused on providing senior secured venture growth loans to high-growth, innovative venture capital-backed companies in a broadly diversified variety of technology, life sciences and sustainable and renewable technology industries. Since inception (December 2003), Hercules has committed over $20 billion to over 650 companies and is the lender of choice for entrepreneurs and venture capital firms seeking growth capital financing. Today, Hercules is widely recognized as the largest non-bank source of venture financing in the market, with $4.5 billion in assets under management and a market capitalization of over $2.5 billion.

Metric
Company Name	Hercules Capital, Inc.	New England Venture Network
Symbol	HTGC
MSH ID	COM:HTGC	ORG:NEVN
Market	STOCKS	PRIVATE
Sector	Financial Services	Commercial & Professional Services
Industry	Asset Management	Investment & Venture Capital
Country	US	US
Stage
Employee Count	100
Website	htgc.com	nevn.org
LinkedIn	hercules-capital
Founders

Metric
Market Cap	3.42B
Enterprise Value
Monthly Web Traffic
Web Traffic Growth
Valuation
Raised Capital

Metric
Revenue	426.50M
Revenue (LTM)
Revenue (NTM)
Gross Profit	376.24M
EBITDA	268.69M
Operating Income	268.69M
Net Income	337.48M
EPS	2.32
Diluted EPS	2.31
Revenue 2022
Revenue 2023
Revenue 2024
Revenue 2025
Revenue 2026

Metric
Revenue Growth (LTM)
Revenue Growth (NTM)
Gross Profit Growth (LTM)
EBITDA Growth (LTM)
Net Income Growth (LTM)
14-Day Growth Score
28-Day Growth Score
90-Day Growth Score
365-Day Growth Score

Metric
Gross Profit Margin	0.90
Operating Profit Margin	0.63
EBITDA Margin	0.63
Net Profit Margin	0.79
Return on Equity	0.21
Return on Assets	0.10
Return on Capital Employed	0.08

COM:HTGC

Hercules Capital, Inc.

Last Close

18.53

22/11 21:00

Market Cap

3.42B

Beta: -

Volume Today

1.32M

Avg: -

Company Overview

Market Metrics

Financial Performance

Growth Metrics

Profitability Ratios

Valuation Multiples

Operational Metrics

Cash Flow Metrics

Balance Sheet Metrics

Efficiency Metrics

Metric
P/E Ratio	9.06
P/B Ratio	1.53
Revenue Multiple (LTM)
Revenue Multiple (NTM)
EBITDA Multiple (LTM)
EBITDA Multiple (NTM)
Price to Sales Ratio	8.00
EV Multiple	-13.37

Metric
Days Sales Outstanding	31.47
Days Payables Outstanding	369.26
Days Inventory Outstanding	983.36
Operating Cycle	1.01K
Cash Conversion Cycle	653.37
Asset Turnover	0.12

Metric
Operating Cash Flow	68.28M
Free Cash Flow	67.39M
Cash Flow to Debt	0.12
Operating Cash Flow/Sales	0.49
Free Cash Flow Yield	-0.05

Metric
Cash & Equivalents	98.90M
Accounts Receivable	-1.05M
Inventory	148.75M
Goodwill
Debt to Capitalization	0.48
Debt to Assets	0.49
Current Ratio	1.38
Quick Ratio	25.34

Metric
Rule of 40 (LTM)
Rule of 40 (NTM)
Stock Comp to Revenue	0.01
R&D to Revenue
SG&A to Revenue	0.05