Equity Profile

HTGC

Hercules Capital, Inc.

FinancialsAsset Management & Custody Banks$3.0B

Jul30Thu

Pre-Earnings Brief

UpcomingQ2-2026After Close5:00 PM EDT

Company Snapshot

Hercules Capital, Inc. (HTGC) is a financial services company that specializes in providing debt and equity financing to venture capital-backed companies....

Key Metrics to Watch

EPS

Earnings per share is a key indicator of profitability and will help gauge the company's financial health this quarter.

$0.48

Revenue Growth

While specific revenue estimates are not available, growth in revenue is vital for assessing the company's ability to scale and support its investments.

N/A

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

HTGC Q2-2026 Earnings Preview

Context

Company Snapshot

Hercules Capital, Inc. (HTGC) is a financial services company that specializes in providing debt and equity financing to venture capital-backed companies. With a market cap of $3 billion, it plays a crucial role in supporting innovation and growth in various sectors, particularly in technology and life sciences.

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

38%

Avg EPS Surprise

-7.46%

Avg Stock Reaction

-0.45%

Last Quarter Recap

In Q1 2026, Hercules Capital reported an EPS of $0.48, slightly beating estimates. However, the stock experienced a modest increase of 0.79% the following day, indicating mixed market reactions.

Management Promises & Guidance

Focus on maintaining a strong loan portfolio.
Commitment to supporting high-growth companies.
Continued exploration of new investment opportunities.

Expectations

Wall Street Expectations

Overall, expectations for Hercules Capital's upcoming earnings are mixed due to the lack of analyst estimates and management guidance. Investors are keen to see if the company can maintain its earnings momentum.

Bull Case

If Hercules Capital reports strong earnings and demonstrates solid loan portfolio performance, it could signal confidence in its growth strategy and attract more investors.

Bear Case

Conversely, if the earnings report reveals weaknesses in loan performance or a slowdown in growth, it may lead to a decline in investor confidence and stock price.

Key Metrics to Watch

EPS

$0.48

Earnings per share is a key indicator of profitability and will help gauge the company's financial health this quarter.

Revenue Growth

N/A

While specific revenue estimates are not available, growth in revenue is vital for assessing the company's ability to scale and support its investments.

Loan Portfolio Performance

N/A

The performance of Hercules' loan portfolio is critical, as it reflects the risk and return profile of their investments.

Expectations

Two Questions That Matter

The print will turn on these two things.

What is the current performance of the loan portfolio, and how does it compare to previous quarters?

The health of the loan portfolio is crucial for understanding the company's risk exposure and potential profitability.

Can the company provide any guidance on revenue growth or new investment opportunities?

Guidance on revenue and investments will help investors gauge future performance and the company's strategic direction.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating Hercules Capital's ability to manage its loan portfolio effectively, which could lead to better-than-expected earnings.

Supporting Evidence

The company's recent EPS surprises indicate a trend of outperforming expectations.

Options pricing suggests a larger move than historical averages, indicating potential for significant news.

Past performance shows that Hercules has managed to maintain profitability even in challenging environments.

Key Risk

If the loan portfolio shows unexpected strength, it could challenge the current cautious outlook.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's performance is under scrutiny, especially given the mixed reactions to previous earnings reports.

Bull Confirmed If

A reported EPS of $0.50 or higher would confirm strong earnings momentum.

Bear Confirmed If

An EPS below $0.45 would signal potential issues in profitability.

Pre-Earnings Positioning

Options Market

Implied Move

±8.74%

Historical Avg

±0.8%

Pricing rich

The options market is pricing in a significant move around the earnings announcement, suggesting that investors expect volatility.

Options are pricing ±8.7% while HTGC has averaged ±0.8% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.2%

30d HV

22.8%

Calls (10K)P/C Ratio: 1.13Puts (8K)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Hercules beats expectations, history suggests the stock could see a modest increase, confirming positive momentum.

In-Line / Cautious

If results are in line with expectations, the stock may react cautiously, reflecting uncertainty in future guidance.

Miss

Should the company miss earnings expectations, history suggests a potential decline in stock price, averaging around -0.38%.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Details on the performance of the loan portfolio and any changes in credit quality.
2Any updates on new investment opportunities or sectors of focus.
3Management's outlook on revenue growth for the upcoming quarters.
4Insights into how the company plans to navigate potential economic challenges.
5Comments on competitive positioning within the asset management industry.

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Company Snapshot

Hercules Capital, Inc. (HTGC) is a financial services company that specializes in providing debt and equity financing to venture capital-backed companies....

Key Metrics to Watch

EPS

Earnings per share is a key indicator of profitability and will help gauge the company's financial health this quarter.

$0.48

Revenue Growth

While specific revenue estimates are not available, growth in revenue is vital for assessing the company's ability to scale and support its investments.

N/A

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

HTGC Q2-2026 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

38%

Avg EPS Surprise

-7.46%

Avg Stock Reaction

-0.45%

Last Quarter Recap

In Q1 2026, Hercules Capital reported an EPS of $0.48, slightly beating estimates. However, the stock experienced a modest increase of 0.79% the following day, indicating mixed market reactions.

Management Promises & Guidance

Focus on maintaining a strong loan portfolio.
Commitment to supporting high-growth companies.
Continued exploration of new investment opportunities.

Expectations

Wall Street Expectations

Bull Case

If Hercules Capital reports strong earnings and demonstrates solid loan portfolio performance, it could signal confidence in its growth strategy and attract more investors.

Bear Case

Conversely, if the earnings report reveals weaknesses in loan performance or a slowdown in growth, it may lead to a decline in investor confidence and stock price.

Key Metrics to Watch

EPS

$0.48

Earnings per share is a key indicator of profitability and will help gauge the company's financial health this quarter.

Revenue Growth

N/A

While specific revenue estimates are not available, growth in revenue is vital for assessing the company's ability to scale and support its investments.

Loan Portfolio Performance

N/A

The performance of Hercules' loan portfolio is critical, as it reflects the risk and return profile of their investments.

Expectations

Two Questions That Matter

The print will turn on these two things.

What is the current performance of the loan portfolio, and how does it compare to previous quarters?

The health of the loan portfolio is crucial for understanding the company's risk exposure and potential profitability.

Can the company provide any guidance on revenue growth or new investment opportunities?

Guidance on revenue and investments will help investors gauge future performance and the company's strategic direction.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating Hercules Capital's ability to manage its loan portfolio effectively, which could lead to better-than-expected earnings.

Supporting Evidence

The company's recent EPS surprises indicate a trend of outperforming expectations.

Options pricing suggests a larger move than historical averages, indicating potential for significant news.

Past performance shows that Hercules has managed to maintain profitability even in challenging environments.

Key Risk

If the loan portfolio shows unexpected strength, it could challenge the current cautious outlook.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's performance is under scrutiny, especially given the mixed reactions to previous earnings reports.

Bull Confirmed If

A reported EPS of $0.50 or higher would confirm strong earnings momentum.

Bear Confirmed If

An EPS below $0.45 would signal potential issues in profitability.

Pre-Earnings Positioning

Options Market

Implied Move

±8.74%

Historical Avg

±0.8%

Pricing rich

The options market is pricing in a significant move around the earnings announcement, suggesting that investors expect volatility.

Options are pricing ±8.7% while HTGC has averaged ±0.8% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.2%

30d HV

22.8%

Calls (10K)P/C Ratio: 1.13Puts (8K)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Hercules beats expectations, history suggests the stock could see a modest increase, confirming positive momentum.

In-Line / Cautious

If results are in line with expectations, the stock may react cautiously, reflecting uncertainty in future guidance.

Miss

Should the company miss earnings expectations, history suggests a potential decline in stock price, averaging around -0.38%.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Details on the performance of the loan portfolio and any changes in credit quality.
2Any updates on new investment opportunities or sectors of focus.
3Management's outlook on revenue growth for the upcoming quarters.
4Insights into how the company plans to navigate potential economic challenges.
5Comments on competitive positioning within the asset management industry.