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

Hercules Capital has disclosed Operating Expenses across 6 years of filings, most recently posting $53.4 million for Q1 2026.

• Operating Expenses for Q1 2026 came in at $53.4 million, up 17.84% year-over-year; the trailing twelve-month figure through Mar 2026 was $214.1 million (up 21.81% YoY), and the FY2025 annual result was $206.0 million, up 22.81% from the prior year.
• Operating Expenses came in at $53.4 million for Q1 2026 at Hercules Capital, down from $54.9 million in the prior quarter.
• In the past five years, Operating Expenses ranged from a high of $54.9 million in Q4 2025 to a low of $30.8 million in Q1 2022.
• The 5-year median for Operating Expenses is $42.4 million (2024), against an average of $43.3 million.
• Across the five-year window, Operating Expenses surged 44.02% in 2023 and fell 11.0% in 2024, its largest moves.
• Hercules Capital's Operating Expenses stood at $31.7 million in 2022, then soared by 44.02% to $45.7 million in 2023, then declined by 11.0% to $40.6 million in 2024, then soared by 35.11% to $54.9 million in 2025, then dropped by 2.69% to $53.4 million in 2026.
• The last three Operating Expenses figures came in at $53.4 million (Q1 2026), $54.9 million (Q4 2025), and $53.6 million (Q3 2025), per Business Quant data.