Horizon Technology Finance (HRZN) Financial Statements & Analysis

Horizon Technology Finance (HRZN) Income Statement

Horizon Technology Finance reported revenue of $40.02M in fiscal 2025 (fiscal year ended Dec 31, 2025), down 59.9% from $99.92M a year earlier. Horizon Technology Finance posted a net loss of $2.66M, compared with a net loss of $5.63M a year earlier. Gross margin was 18.0% and operating margin -4.0%. In the most recent quarter, Q2 fiscal 2026 (ended Jun 30, 2026), revenue was $25.05M.

Horizon Technology Finance Income Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Horizon Technology Finance Corporation income statement - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Revenue & Gross Profit
Revenue	40.02	99.92	19.10	45.84	45.30	20.01	29.63	21.26	12.40
Cost of Revenue	32.81	32.26	28.97	19.20	12.03	9.67	8.33	6.36	6.12
Gross Profit	7.22	99.92	-9.87	26.64	33.27	10.33	21.30	14.90	6.28
Operating Expenses
Research & Development	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-
Selling, General & Administrative	6.00	18.40	5.67	4.78	4.69	3.75	3.41	3.04	2.87
Operating Expenses	8.82	18.40	5.82	4.78	5.08	3.75	1.56	1.86	2.79
Operating Income	-1.60	81.52	-15.70	21.87	28.18	6.59	19.74	13.04	12.32
Other Income/Expense
Interest Income	90.46	96.97	110.13	77.37	54.41	42.19	37.09	28.79	0.00
Interest Expense	32.81	-32.26	28.97	19.20	12.03	9.67	8.33	6.36	5.17
Other Income/Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-7.87
Income
Income Before Tax	-1.60	-4.16	-15.70	21.87	28.18	6.59	19.74	13.04	9.62
Income Tax Expense	1.06	1.48	1.49	0.72	0.40	0.22	0.24	0.03	0.03
Net Income	-2.66	-5.63	-17.19	21.15	27.78	6.36	19.50	13.01	9.59
Net Income - Continuous Operations	-2.66	-5.63	-17.19	21.15	27.78	6.36	19.50	13.01	9.59
Net Income - Discontinued Operations	-	-	-	-	-	-	-	-	-
EBITDA	-1.60	1.78	-15.70	23.47	29.27	7.60	19.74	19.96	15.58
EBIT	78.28	81.52	91.91	56.10	40.66	30.64	-	-	-
Depreciation & Amortization	0.00	0.00	0.00	1.60	1.09	1.02	0.00	0.55	0.80
Earnings Per Share
Basic EPS	-	-	-1.00	1.00	1.00	-	1.00	1.00	1.00
Diluted EPS	-	-	-1.00	1.00	1.00	-	1.00	1.00	1.00
Basic Shares Outstanding	42.35	36.10	30.96	24.73	20.03	17.53	13.48	11.53	11.52
Diluted Shares Outstanding	42.35	36.10	30.96	24.73	20.03	17.53	13.48	11.53	11.52

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Horizon Technology Finance Financial Statements

What was Horizon Technology Finance's revenue in fiscal 2025?

Horizon Technology Finance reported revenue of $40.02M in fiscal 2025 (fiscal year ended Dec 31, 2025). That was down 59.9% from $99.92M a year earlier.

Is Horizon Technology Finance profitable?

No. Horizon Technology Finance reported a net loss of $2.66M in fiscal 2025. In fiscal 2024 it lost $5.63M.

What is Horizon Technology Finance's operating margin?

Horizon Technology Finance's operating income was −$1.60M on revenue of $40.02M in fiscal 2025, an operating margin of -4.0%, compared with 81.6% a year earlier.

What is net profit margin?

Net profit margin is net income divided by revenue. It shows how much of each dollar of sales a company keeps as profit after all costs, interest and taxes. Full definition