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Hercules Capital (HTGC) Operating Expenses (2021 - 2026)

Hercules Capital's Operating Expenses history spans 5 years, with the latest figure at $50.5 million for Q4 2025.

  • On a quarterly basis, Operating Expenses fell 1.87% to $50.5 million in Q4 2025 year-over-year; TTM through Dec 2025 was $194.1 million, a 6.98% increase, with the full-year FY2025 number at $190.8 million, up 6.85% from a year prior.
  • Operating Expenses hit $50.5 million in Q4 2025 for Hercules Capital, up from $49.5 million in the prior quarter.
  • Over the last five years, Operating Expenses for HTGC hit a ceiling of $51.4 million in Q4 2024 and a floor of $28.6 million in Q4 2021.
  • Historically, Operating Expenses has averaged $40.7 million across 5 years, with a median of $41.0 million in 2023.
  • Biggest five-year swings in Operating Expenses: soared 34.77% in 2024 and later fell 1.87% in 2025.
  • Tracing HTGC's Operating Expenses over 5 years: stood at $28.6 million in 2021, then increased by 10.71% to $31.7 million in 2022, then increased by 20.33% to $38.2 million in 2023, then soared by 34.77% to $51.4 million in 2024, then fell by 1.87% to $50.5 million in 2025.
  • Business Quant data shows Operating Expenses for HTGC at $50.5 million in Q4 2025, $49.5 million in Q3 2025, and $48.7 million in Q2 2025.