HERCULES CAPITAL, INC.
Cash Flow Statement
| Line Item | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $130.2M | $42.5M | $90.8M | $119.7M | $78.9M | $50.3M | $61.4M | $68.7M |
| Depreciation & Amortization | $84.0K | $85.0K | $83.0K | $84.0K | $81.0K | $89.0K | $93.0K | $91.0K |
| Depreciation | — | — | — | — | — | — | — | — |
| Amortization | — | — | — | — | — | — | — | — |
| Stock-Based Compensation | $4.0M | $4.2M | $3.7M | $3.7M | $3.7M | $3.6M | $3.2M | $3.2M |
| Net Cash from Operating Activities | $297.9M | $-230.6M | $-55.6M | $-3.2M | $-144.8M | $-222.2M | $-29.2M | $92.6M |
| Investing Activities | ||||||||
| Capital Expenditures | $0 | $19.0K | $33.0K | $29.0K | $19.0K | $8.0K | $5.0K | $30.0K |
| Business Acquisitions | — | — | — | — | — | — | — | — |
| Net Cash from Investing Activities | $0 | $-19.0K | $-33.0K | $-29.0K | $-19.0K | $-8.0K | $-5.0K | $-30.0K |
| Financing Activities | ||||||||
| Dividends Paid | $86.0M | $84.4M | $82.9M | $83.6M | $80.5M | $78.9M | $77.9M | $75.5M |
| Stock Repurchases | $819.0K | $3.4M | $1.0M | $974.0K | $1.0M | $3.5M | $1.0M | $1.1M |
| Net Cash from Financing Activities | $-292.4M | $216.1M | $64.6M | $397.0K | $143.8M | $160.1M | $101.7M | $-87.4M |
| Net Change in Cash | $5.5M | $-14.5M | $9.0M | $-2.8M | $-1.0M | $-62.1M | $72.4M | $5.1M |
| Free Cash Flow | $297.9M | $-230.7M | $-55.6M | $-3.2M | $-144.8M | $-222.2M | $-29.2M | $92.5M |