Horizon Technology announces Q3 net interest income of 32 cents, surpassing consensus estimate of 28 cents.
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 28 2025
0mins
Should l Buy HRZN?
Quarterly Performance: Horizon reported a solid third quarter with an increase in net asset value and strong net investment income (NII) as they approach the completion of their merger with MRCC.
Loan Activity: The company originated a modest number of new loans and acquired a co-lender's portfolio, which positively impacted their net asset value per share.
Investment Management: Horizon achieved positive outcomes with two stressed investments, demonstrating their capability to work effectively with portfolio companies during challenging situations.
Leadership Statement: CEO Mike Balkin highlighted the company's strategic moves and successful management of investments as key factors in their quarterly performance.
Trade with 70% Backtested Accuracy
Stop guessing "Should I Buy HRZN?" and start using high-conviction signals backed by rigorous historical data.
Sign up today to access powerful investing tools and make smarter, data-driven decisions.
Analyst Views on HRZN
Wall Street analysts forecast HRZN stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for HRZN is 6.67 USD with a low forecast of 6.00 USD and a high forecast of 7.50 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
3 Analyst Rating
1 Buy
1 Hold
1 Sell
Hold
Current: 6.450
Low
6.00
Averages
6.67
High
7.50
Current: 6.450
Low
6.00
Averages
6.67
High
7.50
About HRZN
Horizon Technology Finance Corporation is a specialty finance company that provides capital in the form of secured loans to venture capital-backed companies in the technology, life science, healthcare information and services, and sustainability industries. The Company's investment objective is to maximize its investment portfolio’s return by generating current income from the debt investments it makes and capital appreciation from the warrants it receives when making such debt investments. It is focused on making secured debt investments to venture capital and private equity-backed companies and publicly traded companies in its target industries. It seeks to invest in companies that vary by their stage of development, their target industries and sectors of target industries and their geographical location, as well as by the venture capital and private equity sponsors that support its portfolio companies. The Company’s adviser is Horizon Technology Finance Management LLC.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Horizon Technology Finance Provides $50 Million Loan Facility to Pelthos Therapeutics
- Financing Support: Horizon Technology Finance has provided a $50 million venture loan facility to Pelthos Therapeutics, with an initial funding of $30 million and up to $20 million for future growth, reflecting confidence in Pelthos' innovative products.
- Product Innovation: Pelthos' ZELSUVMI™ (berdazimer) topical gel has received FDA approval for treating molluscum contagiosum, offering a new at-home treatment option that could transform patient care approaches.
- Market Expansion: Pelthos has also acquired rights to Xepi® Cream and Xeglyze®, with the loan proceeds aimed at promoting these products, facilitating further expansion in the dermatology market.
- Strategic Partnership: Horizon's CIO Paul Seitz noted that this financing will assist Pelthos in promoting its products within pediatric and dermatologic communities, further driving business growth and showcasing Horizon's expertise in the life sciences sector.
See More
Horizon Technology Finance Corp Prices $57.5M Notes Offering with 19.61% Dividend Yield
- Attractive Dividend Yield: Horizon Technology Finance Corp offers a 19.61% dividend yield, showcasing its strong free cash flow and commitment to shareholder returns, which enhances market interest in its stock.
- Analyst Rating Changes: Maxim Group analyst Michael Diana maintained a Buy rating but lowered the price target from $10 to $7.5, reflecting a cautious outlook on future market performance despite a 56% accuracy rate.
- Financial Update: On December 11, 2025, Horizon Technology Finance priced a $57.5 million offering of 7.00% notes, which is expected to provide stable cash inflows to support future investments and operations.
- Market Reaction: Benzinga Pro's real-time news alerts investors to the latest developments regarding Horizon Technology Finance, indicating sustained market interest in high-yield stocks, especially amid economic uncertainty.
See More
Pelthos Therapeutics Secures $30 Million Financing to Accelerate ZELSUVMI Commercialization
- Financing Support: Pelthos Therapeutics secured an initial $30 million financing from Horizon, with an additional $20 million available, aimed at accelerating the commercialization of its cutaneous infectious disease product portfolio, thereby enhancing financial flexibility and market competitiveness.
- Product Launch: The financing will expedite the launch of ZELSUVMI, the first FDA-approved treatment for molluscum that can be used at home, targeting patients and families struggling with this difficult-to-treat infection.
- Equity Dilution Control: This financing is non-dilutive, as Pelthos issued warrants for 65,488 shares, ensuring existing shareholders' interests are preserved while effectively managing the company's equity structure.
- Future Growth Potential: Pelthos plans to utilize the financing to support the launch of Xepi and Xeglyze, further expanding its market share in dermatological treatments to meet the increasing patient demand.
See More
Kodiak AI Secures $30M Debt Facility, Reducing Interest Rate by 200 Basis Points
- Financing Advantage: Kodiak AI has completed a $30 million debt financing with Horizon Technology Finance Corporation, which not only reduces the interest rate by 200 basis points but also extends the debt maturity to 2030, thereby enhancing the company's liquidity and financial flexibility.
- Cash Flow Improvement: The new financing agreement allows Kodiak to make only interest payments from 2026 to 2028, eliminating near-term principal repayment pressures, enabling the company to execute its strategic priorities more effectively.
- Strategic Confidence: This transaction reflects Horizon's continued confidence in Kodiak's business model and performance, further solidifying Kodiak's financial foundation and enhancing its competitiveness in the autonomous driving technology sector.
- Future Growth Potential: By improving liquidity and reducing cash outflows, Kodiak will be better positioned to tackle future market challenges and accelerate its technological innovation and market expansion in the autonomous driving space.
See More
Kodiak AI Secures $30M Debt Facility, Reducing Interest Rate by 200 Basis Points
- Financing Advantage: Kodiak AI has completed a $30 million debt facility with Horizon Technology Finance Corporation, reducing the interest rate by 200 basis points, significantly enhancing the company's financial flexibility and liquidity.
- Cash Flow Improvement: The new financing extends the debt maturity from 2026 to 2030, reducing near-term cash outflows, which enables the company to execute its strategic priorities more effectively.
- Enhanced Strategic Execution: By lowering interest rates and extending repayment terms, Kodiak can concentrate resources on the development and market expansion of its autonomous driving technology, further solidifying its leadership position in the industry.
- Investor Confidence Boost: This transaction reflects Horizon's continued confidence in Kodiak's business model and performance, enhancing investor expectations for the company's future growth.
See More
Jim Cramer Warns About Lumen Technologies: Exercise Caution, Stock Has 'Increased Too Much'
Caution on Lumen Technologies: Jim Cramer advised caution regarding Lumen Technologies, noting that the stock has "run too much," while the company recently appointed Jim Fowler as chief technology & product officer.
Concerns about Unusual Machines: Cramer expressed skepticism about Unusual Machines, highlighting its significant financial losses and labeling it as a "highly speculative" investment, despite a recent Buy rating from Jones Trading.
TopBuild Corp Performance: Cramer acknowledged the strong market for TopBuild Corp, suggesting to take some profits after its recent gains, while Jefferies raised its price target for the stock.
Skepticism towards Horizon Technology Finance: Cramer stated he does not trust Horizon Technology Finance due to a lack of transparency about its assets, while the company recently priced a $57.50 million offering of notes.
See More
Horizon Technology Finance Provides $50 Million Loan Facility to Pelthos Therapeutics
- Financing Support: Horizon Technology Finance has provided a $50 million venture loan facility to Pelthos Therapeutics, with an initial funding of $30 million and up to $20 million for future growth, reflecting confidence in Pelthos' innovative products.
- Product Innovation: Pelthos' ZELSUVMI™ (berdazimer) topical gel has received FDA approval for treating molluscum contagiosum, offering a new at-home treatment option that could transform patient care approaches.
- Market Expansion: Pelthos has also acquired rights to Xepi® Cream and Xeglyze®, with the loan proceeds aimed at promoting these products, facilitating further expansion in the dermatology market.
- Strategic Partnership: Horizon's CIO Paul Seitz noted that this financing will assist Pelthos in promoting its products within pediatric and dermatologic communities, further driving business growth and showcasing Horizon's expertise in the life sciences sector.
See More
Horizon Technology Finance Corp Prices $57.5M Notes Offering with 19.61% Dividend Yield
- Attractive Dividend Yield: Horizon Technology Finance Corp offers a 19.61% dividend yield, showcasing its strong free cash flow and commitment to shareholder returns, which enhances market interest in its stock.
- Analyst Rating Changes: Maxim Group analyst Michael Diana maintained a Buy rating but lowered the price target from $10 to $7.5, reflecting a cautious outlook on future market performance despite a 56% accuracy rate.
- Financial Update: On December 11, 2025, Horizon Technology Finance priced a $57.5 million offering of 7.00% notes, which is expected to provide stable cash inflows to support future investments and operations.
- Market Reaction: Benzinga Pro's real-time news alerts investors to the latest developments regarding Horizon Technology Finance, indicating sustained market interest in high-yield stocks, especially amid economic uncertainty.
See More
Pelthos Therapeutics Secures $30 Million Financing to Accelerate ZELSUVMI Commercialization
- Financing Support: Pelthos Therapeutics secured an initial $30 million financing from Horizon, with an additional $20 million available, aimed at accelerating the commercialization of its cutaneous infectious disease product portfolio, thereby enhancing financial flexibility and market competitiveness.
- Product Launch: The financing will expedite the launch of ZELSUVMI, the first FDA-approved treatment for molluscum that can be used at home, targeting patients and families struggling with this difficult-to-treat infection.
- Equity Dilution Control: This financing is non-dilutive, as Pelthos issued warrants for 65,488 shares, ensuring existing shareholders' interests are preserved while effectively managing the company's equity structure.
- Future Growth Potential: Pelthos plans to utilize the financing to support the launch of Xepi and Xeglyze, further expanding its market share in dermatological treatments to meet the increasing patient demand.
See More
Kodiak AI Secures $30M Debt Facility, Reducing Interest Rate by 200 Basis Points
- Financing Advantage: Kodiak AI has completed a $30 million debt financing with Horizon Technology Finance Corporation, which not only reduces the interest rate by 200 basis points but also extends the debt maturity to 2030, thereby enhancing the company's liquidity and financial flexibility.
- Cash Flow Improvement: The new financing agreement allows Kodiak to make only interest payments from 2026 to 2028, eliminating near-term principal repayment pressures, enabling the company to execute its strategic priorities more effectively.
- Strategic Confidence: This transaction reflects Horizon's continued confidence in Kodiak's business model and performance, further solidifying Kodiak's financial foundation and enhancing its competitiveness in the autonomous driving technology sector.
- Future Growth Potential: By improving liquidity and reducing cash outflows, Kodiak will be better positioned to tackle future market challenges and accelerate its technological innovation and market expansion in the autonomous driving space.
See More
Kodiak AI Secures $30M Debt Facility, Reducing Interest Rate by 200 Basis Points
- Financing Advantage: Kodiak AI has completed a $30 million debt facility with Horizon Technology Finance Corporation, reducing the interest rate by 200 basis points, significantly enhancing the company's financial flexibility and liquidity.
- Cash Flow Improvement: The new financing extends the debt maturity from 2026 to 2030, reducing near-term cash outflows, which enables the company to execute its strategic priorities more effectively.
- Enhanced Strategic Execution: By lowering interest rates and extending repayment terms, Kodiak can concentrate resources on the development and market expansion of its autonomous driving technology, further solidifying its leadership position in the industry.
- Investor Confidence Boost: This transaction reflects Horizon's continued confidence in Kodiak's business model and performance, enhancing investor expectations for the company's future growth.
See More
Jim Cramer Warns About Lumen Technologies: Exercise Caution, Stock Has 'Increased Too Much'
Caution on Lumen Technologies: Jim Cramer advised caution regarding Lumen Technologies, noting that the stock has "run too much," while the company recently appointed Jim Fowler as chief technology & product officer.
Concerns about Unusual Machines: Cramer expressed skepticism about Unusual Machines, highlighting its significant financial losses and labeling it as a "highly speculative" investment, despite a recent Buy rating from Jones Trading.
TopBuild Corp Performance: Cramer acknowledged the strong market for TopBuild Corp, suggesting to take some profits after its recent gains, while Jefferies raised its price target for the stock.
Skepticism towards Horizon Technology Finance: Cramer stated he does not trust Horizon Technology Finance due to a lack of transparency about its assets, while the company recently priced a $57.50 million offering of notes.
See More
