Horizon Technology Finance Corporation
NYSE: HTFB · ·
Updated 2026-06-02
Horizon Technology Finance Corporation (HTFB) Financial statements
SEC filings — annual and quarterly data.
Cash flow — annual
| Item | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $7.98M | $-10.63M | $-4.02M | $-36.09M | $6.50M | $36.68M | $-31.33M | $52.31M | $-14.84M | $-12.06M | $-51.41M | $-25.28M | $-75.99M | $-246.28M | $50.07M | $39.64M | $39.96M |
| Capital expenditures | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Depreciation | — | $1.12M | $277000.00 | $471000.00 | $1.48M | $2.68M | $911000.00 | $562000.00 | $795000.00 | $554000.00 | $726000.00 | $1.02M | $1.09M | $1.60M | $1.85M | $1.78M | — |
| Stock-based comp | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Free cash flow | $7.98M | $-10.63M | $-4.02M | $-36.09M | $6.50M | $36.68M | $-31.33M | $52.31M | $-14.84M | $-12.06M | $-51.41M | $-25.28M | $-75.99M | $-246.28M | $50.07M | $39.64M | $39.96M |
| Investing cash flow | $-18.61M | $-49.79M | $-90.69M | $-138.60M | $-88.16M | $-87.66M | $-121.61M | $-58.87M | $-133.72M | $-96.80M | $-196.25M | $-190.23M | $-291.49M | $-372.01M | $-55.33M | $-35.70M | — |
| Financing cash flow | $493396.00 | $493000.00 | $-32.37M | $35.84M | $17.79M | $-53.60M | $43.68M | $-35.94M | $-15.70M | $18.05M | $56.20M | $55.66M | $75.52M | $229.46M | $50.51M | $21.21M | — |
| Dividends paid | — | — | $8.31M | $15.13M | $12.63M | $13.01M | $14.89M | $15.66M | $13.65M | $13.67M | $15.59M | $21.32M | $24.55M | $29.85M | $40.52M | $46.37M | $53.09M |
| Share repurchases | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Debt repayment | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Net change in cash | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
Frequently asked questions
What is Horizon Technology Finance Corporation's revenue?
Horizon Technology Finance Corporation's trailing twelve-month revenue is $108.44M. Revenue is the top line the whole model builds on, and at this scale the question shifts from how fast it grows to whether margins hold as it compounds.
How profitable is HTFB?
In its most recent fiscal year, HTFB ran a gross margin of 67.58%, an operating margin of 80.58%, and a net margin of 111.17%. Margins this high mean most of each extra dollar of revenue drops through to profit, which is the signature of real pricing power.
How much free cash flow does HTFB generate?
HTFB produced $39.96M in free cash flow in its most recent fiscal year. Free cash flow is what is left after running and reinvesting in the business, and it is the cash that actually funds buybacks, dividends, and a stronger balance sheet.
Is HTFB's balance sheet healthy?
HTFB holds $105.52M in cash and equivalents against — in long-term debt, on $318.50M of shareholder equity. That debt is best read against the cash flow the business throws off each year.