
Cancel anytime
- Chart
- Upturn Summary
- Highlights
- Valuation
Upturn AI SWOT
- About


Horizon Technology Finance (HRZN)



- BUY Advisory
- SELL Advisory (Profit)
- SELL Advisory (Loss)
- Profit
- Loss
- Pass (Skip investing)


(see disclosures)
- ALL
- YEAR
- MONTH
- WEEK
Upturn Advisory Summary
08/28/2025: HRZN (1-star) is currently NOT-A-BUY. Pass it for now.
1 Year Target Price $6.75
1 Year Target Price $6.75
0 | Strong Buy |
1 | Buy |
6 | Hold |
1 | Sell |
0 | Strong Sell |
Analysis of Past Performance
Type Stock | Historic Profit -33.57% | Avg. Invested days 33 | Today’s Advisory PASS |
Upturn Star Rating ![]() ![]() | Upturn Advisory Performance ![]() | Stock Returns Performance ![]() |
![]() ![]() | ![]() ![]() |
Key Highlights
Company Size Small-Cap Stock | Market Capitalization 293.57M USD | Price to earnings Ratio - | 1Y Target Price 6.75 |
Price to earnings Ratio - | 1Y Target Price 6.75 | ||
Volume (30-day avg) 8 | Beta 0.98 | 52 Weeks Range 6.66 - 9.62 | Updated Date 08/28/2025 |
52 Weeks Range 6.66 - 9.62 | Updated Date 08/28/2025 | ||
Dividends yield (FY) 19.13% | Basic EPS (TTM) -1.19 |
Earnings Date
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin -48.76% | Operating Margin (TTM) 81.66% |
Management Effectiveness
Return on Assets (TTM) 6.52% | Return on Equity (TTM) -15.47% |
Valuation
Trailing PE - | Forward PE 9.78 | Enterprise Value 693188544 | Price to Sales(TTM) 3.02 |
Enterprise Value 693188544 | Price to Sales(TTM) 3.02 | ||
Enterprise Value to Revenue 11.11 | Enterprise Value to EBITDA 13.46 | Shares Outstanding 42545700 | Shares Floating - |
Shares Outstanding 42545700 | Shares Floating - | ||
Percent Insiders 1.26 | Percent Institutions 6.6 |
Upturn AI SWOT
Horizon Technology Finance

Company Overview
History and Background
Horizon Technology Finance Corporation (HRZN) was founded in 2003 and completed its IPO in 2010. The company primarily focuses on lending to and investing in venture capital-backed companies in the technology, life science, healthcare information and services, and clean tech industries. Over time, it has expanded its investment strategies and geographic reach.
Core Business Areas
- Venture Lending: Provides secured loans to venture capital-backed companies, primarily in technology and life sciences. This includes term loans, bridge loans, and equipment financing.
- Equity Investments: Makes strategic equity investments, often in conjunction with debt financing, to participate in the potential upside of its portfolio companies.
Leadership and Structure
Robert Pomeroy is the Chairman and Chief Executive Officer. The company operates as a business development company (BDC), structured to provide financing to small and middle-market companies.
Top Products and Market Share
Key Offerings
- Term Loans: Provides senior secured term loans ranging from $5 million to $30 million or more to venture-backed companies. These loans typically fund growth initiatives, acquisitions, or recapitalizations. Market share is difficult to pinpoint exactly but Horizon is a major player in venture debt. Key competitors include SLR Investment Corp and Trinity Capital.
- Bridge Loans: Offers short-term financing solutions to help companies bridge gaps until they secure further funding. Horizon Technology Finance is not the only competitor, but it is a large player in this space.
- Equipment Financing: Facilitates the acquisition of necessary equipment for growth-stage companies through lease financing. Many different players offer these services, but Horizon specializes in the technology and life science sectors.
Market Dynamics
Industry Overview
The venture debt market is driven by the need for growth capital among venture-backed companies that are often unprofitable and unable to secure traditional bank loans. The industry is cyclical, influenced by venture capital investment trends and macroeconomic conditions.
Positioning
Horizon Technology Finance is a specialist lender, focusing on high-growth companies in technology and life sciences. Its competitive advantage lies in its industry expertise, long-standing relationships with venture capital firms, and ability to structure flexible financing solutions.
Total Addressable Market (TAM)
The TAM for venture debt is difficult to quantify precisely but is estimated to be billions of dollars annually. Horizon is positioned to capture a significant portion of this market by focusing on specific sectors and offering tailored financing solutions.
Upturn SWOT Analysis
Strengths
- Specialized industry expertise in technology and life sciences
- Strong relationships with venture capital firms
- Experienced management team
- Established track record in venture lending
Weaknesses
- High dependence on venture capital funding cycles
- Exposure to credit risk from early-stage companies
- Interest rate sensitivity
- Relatively small market capitalization compared to larger financial institutions
Opportunities
- Expanding into new technology sub-sectors
- Increasing its equity investment portfolio
- Forming strategic partnerships with other lenders and investors
- Growing demand for venture debt as an alternative financing source
Threats
- Economic downturns impacting venture capital funding
- Increased competition from other lenders
- Regulatory changes affecting BDCs
- Rising interest rates increasing borrowing costs
Competitors and Market Share
Key Competitors
- SLR Investment Corp (SLRC)
- Trinity Capital (TRIN)
- Golub Capital BDC (GBDC)
Competitive Landscape
Horizon's advantages include sector expertise and VC relationships. Disadvantages include smaller size compared to some competitors.
Growth Trajectory and Initiatives
Historical Growth: Growth has been linked to the venture capital market. Expansion of the investment portfolio and strategic partnerships are critical factors.
Future Projections: Analyst projections depend on market conditions and company-specific factors. Look for analyst research on sites like Yahoo Finance.
Recent Initiatives: Recent initiatives may include strategic partnerships, new investment strategies, or expansion into new sectors. Review company press releases and investor presentations.
Summary
Horizon Technology Finance is a specialized lender focused on venture-backed companies. Their strength lies in their industry expertise and relationships, but they face risks from economic cycles and competition. The company's dividend yield is attractive to income-seeking investors. Horizon needs to carefully manage credit risk and interest rate sensitivity to ensure long-term stability. Future success depends on its ability to capitalize on growth opportunities and maintain a competitive edge.
Peer Comparison
Sources and Disclaimers
Data Sources:
- Horizon Technology Finance Investor Relations
- SEC filings (10-K, 10-Q)
- Company Press Releases
- Yahoo Finance
- Analyst Reports
Disclaimers:
The information provided is for informational purposes only and should not be considered financial advice. Market share data is estimated and may not be precise. Consult with a qualified financial advisor before making investment decisions.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About Horizon Technology Finance
Exchange NASDAQ | Headquaters Farmington, CT, United States | ||
IPO Launch date 2010-10-29 | CEO & Director Mr. Michael Phillip Balkin | ||
Sector Financial Services | Industry Asset Management | Full time employees - | |
Full time employees - |
Horizon Technology Finance Corporation is a business development company specializing in lending and and investing in development-stage investments. It focuses on making secured debt and venture lending investments to venture capital backed companies in the technology, life science, healthcare information and services, cleantech and sustainability industries. It seeks to invest in companies in the United States.

Note: This website is maintained by Upturn Corporation, which is an investment adviser registered with the U.S. Securities and Exchange Commission. Such registration does not imply a certain level of skill or training. Investing in securities has risks. Past performance is no guarantee of future returns. No assurance is provided as to any particular investment return, and you may lose money using our services. You are strongly advised to consult appropriate counsel before making any investments in companies you learn about through our services. You should obtain appropriate legal, tax, investment, accounting, and other advice that takes into account your investment portfolio and overall financial situation. You are solely responsible for conducting due diligence on a potential investment. We do not affect trades for you. You will select your own broker through which to transact. Investments are not FDIC insured, they are not guaranteed, and they may lose value. Please see the Privacy Policy, Terms of Use, and Disclosure for more information.