Horizon Technology Finance Corporation

HRZN

HRZNHorizon Technology Finance Corporation US flag

NASDAQ Global Select

4.43

USD

-0.19

- -

195.49MMarket Cap

Income Statement (USD)

API Chat

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Sales/Revenue/Turnover	15	7	7	20	15	-2	12	15	21	10	33	27	-10	2	7
+ Sales & Services Revenue	15	7	7	20	15	-2	12	15	21	10	33	27	-10	2	7
- Cost of Revenue	4	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Cost of Goods & Services	4	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Gross Profit	20	22	28	27	26	28	22	27	- -	- -	- -	- -	- -	- -	- -
+ Other Operating Income	3	3	3	2	4	2	2	6	-2	-4	-5	-5	-6	-6	-9
- Operating Expenses	3	3	3	5	3	3	3	2	2	4	5	5	6	6	9
+ Selling, General & Admin	3	3	3	5	3	3	3	3	3	4	5	5	6	6	6
+ Research & Development	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Operating Expense	- -	- -	- -	- -	- -	- -	- -	-1	-2	- -	- -	- -	- -	- -	3
Operating Income (Loss)	13	17	22	20	20	23	17	19	- -	- -	- -	- -	- -	- -	- -
- Non-Operating (Income) Loss	2	12	18	4	8	28	8	6	-20	-7	-28	-22	16	4	2
+ Interest Expense, Net	3	-25	-32	-29	-29	-31	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Interest Expense	3	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Interest Income	- -	25	32	29	29	31	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Non-Op (Income) Loss	-1	38	50	33	37	59	8	6	-20	-7	-28	-22	16	4	2
Pretax Income	11	4	4	16	12	-5	10	13	20	7	28	22	-16	-4	-2
- Income Tax Expense (Benefit)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	1	1	1	1
- (Income) Loss from Affiliates	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Income (Loss) from Cont Ops	11	4	4	15	12	-5	10	13	19	6	28	21	-17	-6	-3
- Net Extraordinary Losses (Gains)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Discontinued Operations	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Extraord. & Accounting Changes	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Income (Loss) Incl. MI	11	4	4	15	12	-5	10	13	19	6	28	21	-17	-6	-3
- Minority Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Income, GAAP	11	4	4	15	12	-5	10	13	19	6	28	21	-17	-6	-3
- Preferred Dividends	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Other Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Income Avail to Common, GAAP	11	4	4	15	12	-5	10	13	19	6	28	21	-17	-6	-3
EBIT	13	17	22	20	20	23	17	19	- -	- -	- -	- -	- -	- -	- -
EBITDA	13	17	22	20	20	23	17	19	- -	- -	- -	- -	- -	- -	- -
EBITDA Margin (%)	90.67	225.52	305.36	95.53	131.99	-1,301.31	140.36	128.05	- -	- -	- -	- -	- -	- -	- -
EBITA	13	17	22	20	20	23	17	19	- -	- -	- -	- -	- -	- -	- -
Gross Margin (%)	71.64	100	100	100	100	100	100	100	100	100	100	100	100	100	100
Operating Margin (%)	90.67	225.52	305.36	95.53	131.99	-1,301.31	140.36	128.05	- -	- -	- -	- -	- -	- -	- -
Profit Margin (%)	74.39	54.51	49.51	75.27	79.22	279.31	77.32	87.32	91.54	61.6	83.51	79.39	174.1	-333.91	-36.87
Sales per Employee	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Dividend per Share	1.09	1.78	1.32	1.35	1.33	1.36	1.18	1.19	1.16	1.22	1.23	1.21	1.31	1.28	1.25
Depreciation Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Basic Weighted Avg Shares	8	8	10	10	11	12	12	12	13	18	20	25	31	36	42
Basic EPS, GAAP	1.44	0.47	0.37	1.6	1.06	-0.43	0.83	1.13	1.45	0.36	1.39	0.86	-0.56	-0.16	-0.06
Basic EPS from Cont Ops	1.44	0.47	0.37	1.6	1.06	-0.43	0.83	1.13	1.45	0.36	1.39	0.86	-0.56	-0.16	-0.06
Diluted Weighted Avg Shares	8	8	10	10	11	12	12	12	13	18	20	25	31	36	42
Diluted EPS, GAAP	1.44	0.47	0.37	1.6	1.06	-0.43	0.83	1.13	1.45	0.36	1.39	0.86	-0.56	-0.16	-0.06
Diluted EPS from Cont Ops	1.44	0.47	0.37	1.6	1.06	-0.43	0.83	1.13	1.45	0.36	1.39	0.86	-0.56	-0.16	-0.06

Balance Sheet (USD)

API Chat

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Total Current Assets	20	6	42	20	31	43	11	17	- -	- -	- -	- -	- -	- -	- -
+ Cash, Cash Equivalents & STI	15	4	32	11	21	37	7	13	6	20	38	21	47	70	106
+ Cash & Cash Equivalents	1	1	25	8	21	37	7	13	6	20	38	21	47	70	106
+ ST Investments	14	3	7	3	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Accounts & Notes Receiv	3	3	4	5	6	6	4	4	6	5	6	14	14	17	12
+ Accounts Receivable, Net	- -	- -	4	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Notes Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Loans Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Receivable, Net	3	3	- -	5	6	6	4	4	6	5	6	14	14	17	12
+ Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inventory Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other ST Assets	2	- -	6	4	4	- -	- -	- -	-12	-24	-44	-34	-61	-87	-118
+ Misc ST Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Prepaid Expenses	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Assets Held-for-Sale	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Noncurrent Assets	178	233	221	205	250	196	224	250	- -	- -	- -	- -	- -	- -	- -
+ Property, Plant & Equip, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Property, Plant & Equip	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Accumulated Depreciation	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Investments & Receivables	192	231	222	205	251	194	222	248	329	380	466	727	736	725	682
+ LT Investments	192	231	222	205	251	194	222	248	329	380	466	727	736	725	682
+ LT Receivables	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other LT Assets	-14	2	-1	- -	- -	2	1	2	-329	-380	-466	-727	-736	-725	-682
+ Total Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Goodwill	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Assets	-14	2	-1	- -	- -	2	1	2	-329	-380	-466	-727	-736	-725	-682
Total Assets	198	240	264	225	281	239	234	267	344	407	514	767	802	822	811
+ Payables & Accruals	3	6	6	5	6	4	5	6	- -	- -	- -	- -	- -	- -	- -
+ Accounts Payable	- -	3	3	3	4	3	3	3	5	6	6	9	11	13	15
+ Accrued Taxes	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Interest & Dividends Payable	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Payables & Accruals	3	2	2	2	2	1	2	2	-5	-6	-6	-9	-11	-13	-15
+ ST Debt	65	89	122	82	116	96	94	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Borrowings	65	89	122	82	116	96	94	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Finance Leases	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other ST Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Revenue	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc ST Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Current Liabilities	68	95	128	87	122	100	99	6	- -	- -	- -	- -	- -	- -	- -
+ LT Debt	65	89	122	82	115	96	94	127	152	186	258	434	462	468	473
+ LT Borrowings	- -	- -	- -	- -	- -	- -	- -	127	- -	- -	- -	- -	- -	- -	- -
+ LT Finance Leases	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other LT Liabilities	-65	-89	-122	-82	-115	-96	-94	- -	-152	-186	-258	-434	-462	-468	-473
+ Accrued Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Pension Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Revenue	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Liabilities	-65	-89	-122	-82	-115	-96	-94	- -	-152	-186	-258	-434	-462	-468	-473
Total Noncurrent Liabilities	- -	- -	- -	- -	- -	- -	- -	127	- -	- -	- -	- -	- -	- -	- -
Total Liabilities	68	95	128	87	121	100	99	132	160	195	269	448	478	486	493
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Share Capital & APIC	125	154	155	155	180	180	180	180	227	271	301	386	451	518	559
+ Common Stock	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Additional Paid in Capital	125	154	155	155	180	180	180	180	227	271	301	386	451	518	559
- Treasury Stock	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Retained Earnings	5	1	1	-1	-2	- -	-45	-45	-43	-59	-56	-68	-127	-182	-241
+ Other Equity	2	-9	-19	-17	-18	-40	-43	- -	- -	- -	- -	- -	- -	- -	- -
Equity Before Minority Interest	130	145	136	138	160	139	135	134	184	213	245	318	324	336	319
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Equity	130	145	136	138	160	139	135	134	184	213	245	318	324	336	319
Total Liabilities & Equity	198	240	264	225	281	239	234	267	344	407	514	767	802	822	811
Shares Outstanding	8	10	10	10	12	12	12	12	16	19	21	28	33	40	46
Number of Employees	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Capital Leases - Total	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Debt	63	88	97	73	95	58	87	114	-6	-20	-38	-21	-47	-70	-106
Net Debt to Equity	48.72	60.68	71.41	53.05	59.33	42	64.76	85.11	-3.51	-9.17	-15.51	-6.47	-14.39	-20.9	-33.13
Tangible Common Equity Ratio	65.66	60.49	51.5	61.39	56.87	58.18	57.69	50.33	53.5	52.21	47.73	41.53	40.38	40.91	39.27
Current Ratio	0.29	0.07	0.33	0.23	0.26	0.43	0.11	2.94	- -	- -	- -	- -	- -	- -	- -
Cash Conversion Cycle	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Cash Flow Statement (USD)

API Chat

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
+ Net Income	11	4	4	15	12	-5	10	13	19	6	28	21	-17	-6	-3
+ Depreciation & Amortization	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Non-Cash Items	-41	-49	10	20	-44	59	-26	-25	-69	-30	-102	-260	17	16	59
+ Stock-Based Compensation	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Income Taxes	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Asset Impairment Charge	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Non-Cash Adj	-41	-49	10	20	-44	59	-26	-25	-69	-30	-102	-260	17	16	59
+ Chg in Non-Cash Work Cap	26	9	-7	1	1	-2	2	- -	-2	-2	-2	-8	-5	-6	- -
+ (Inc) Dec in Accts Receiv	-1	- -	- -	- -	- -	- -	- -	- -	-1	1	- -	-3	2	-1	1
+ (Inc) Dec in Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ (Inc) Dec in Prepaid Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inc (Dec) in Accts Payable	2	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inc (Dec) in Other	25	9	-8	1	1	-2	2	- -	-1	-3	-2	-5	-6	-5	- -
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Operating Activities	-4	-36	6	37	-31	52	-15	-12	-51	-25	-76	-246	-5	4	57
+ Change in Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp in Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp of Fixed Prod Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Acq of Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Acq of Fixed Prod Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Acq of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Cash (Repurchase) of Equity	- -	30	- -	- -	25	-1	- -	- -	47	45	30	85	65	66	14
+ Increase in Capital Stock	- -	30	- -	- -	27	- -	- -	- -	47	45	30	85	65	66	14
+ Decrease in Capital Stock	- -	- -	- -	- -	-1	-1	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Net Change in LT Investment	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Dec in LT Investment	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inc in LT Investment	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Net Cash From Acq & Div	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Cash from Divestitures	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Cash for Acq of Subs	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Cash for JVs	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Investing Activities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Investing Activities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Dividends Paid	-8	-15	-13	-13	-15	-16	-14	-14	-16	-21	-25	-30	-41	-46	-53
+ Net Cash From Debt	-23	24	-23	-41	10	-49	-131	32	26	33	73	179	27	6	31
+ Cash From Debt	- -	33	90	- -	58	10	129	52	152	80	184	356	104	95	112
+ Repayments of Debt	-23	-9	-113	-41	-48	-59	-260	-20	-125	-47	-112	-177	-78	-89	-81
+ Other Financing Activities	-1	-3	54	- -	24	29	129	-1	-2	-1	-3	-4	-1	-5	-7
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Financing Activities	-32	36	18	-54	44	-36	-16	18	56	56	76	229	51	21	-15
Effect of Foreign Exchange Rates	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Changes in Cash	-36	- -	24	-17	12	16	-31	6	5	30	- -	-17	45	25	42
EBITDA	13	17	22	20	20	23	17	19	- -	- -	- -	- -	- -	- -	- -
EBITDA Margin (%)	90.67	225.52	305.36	95.53	131.99	-1,301.31	140.36	128.05	- -	- -	- -	- -	- -	- -	- -
Free Cash Flow	-4	-36	6	37	-31	52	-15	-12	-51	-25	-76	-246	-5	4	57
Net Cash Paid for Acquisitions	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Free Cash Flow to Firm	-1	-36	6	37	-31	- -	-15	-12	-51	-25	-76	-246	- -	- -	- -
Free Cash Flow to Equity	-27	-12	-17	-4	-22	3	-145	20	-25	8	-3	-67	21	10	88
Free Cash Flow per Basic Share	-0.53	-4.25	0.68	3.81	-2.8	4.53	-1.29	-1.05	-3.81	-1.44	-3.79	-9.96	-0.17	0.11	1.34
Price/Free Cash Flow	-30.87	-3.51	20.95	3.67	-4.19	2.32	-8.71	-10.76	-3.39	-9.18	-4.2	-1.16	-77.57	82.44	4.82
Cash Flow to Net Income	-0.37	-9.04	1.85	2.38	-2.64	-10.65	-1.55	-0.93	-2.64	-3.97	-2.74	-11.64	0.31	-0.7	-21.28
Capital Expenditures	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -