10-K · March 4, 2026
TPVG positions itself as a specialized BDC focused on secured lending to venture growth-stage, VC-backed technology and high-growth companies, targeting unlevered yields of 10%–18% on growth capital loans and…
Earnings analysis · 10-Q
TPVG earnings analysis
Filed May 6, 2026 · Our reading of the company's report
The latest report
TriplePoint Venture Growth BDC Corp. reported Q1 2026 results with revenue of $22.775 million and diluted EPS of $0.23, both falling short of estimates. Management highlighted increased debt commitments but noted…
Read full summary
TriplePoint Venture Growth BDC Corp. reported Q1 2026 results with revenue of $22.775 million and diluted EPS of $0.23, both falling short of estimates. Management highlighted increased debt commitments but noted declines in net investment income relative to the prior year. The company continues to navigate tightening credit conditions, impacting its operational outlook and investment strategy.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $0.23
What stood out
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Revenue Missed Estimates
Actual revenue of $22.775 million was below estimates of $22.962 million, representing a decrease from $24.5 million in Q1 2025.
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EPS Shortfall
EPS for Q1 2026 was $0.23, missing consensus estimates of $0.24.
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Increase in Debt Commitments
New debt commitments totaled $1 million, compared to $76.5 million in Q1 2025.
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Operational Challenges
Net investment income is down from $10.7 million in Q1 2025 to $9.1 million in Q1 2026.
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Continuing Cash Distributions
The company declared a $0.23 per share distribution for Q2 2026.
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Cash Reserves
As of Q1 2026, cash and cash equivalents stood at $9.0 million.
What to watch
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Decline in Investment Income
Net investment income decreased to $9.1 million in Q1 2026 from $10.7 million in Q1 2025.
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Increased Operating Expenses
Total operating expenses rose to $13.2 million in Q1 2026 from $11.3 million in Q1 2025.
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Losses on Investment Valuations
Net realized and unrealized losses totaled $3.0 million in Q1 2026.
Management's outlook
Outlook deferred to earnings press release / call.
Earlier filings 4
10-Q · August 6, 2025
TriplePoint Venture Growth BDC reported Q2 2025 investment and other income of $23,276,000 and net investment income of $11,275,000, producing net investment income per share of $0.28 and net increase in net assets per…
10-Q · November 6, 2024
TriplePoint Venture Growth BDC reported Q3 total investment and other income of $26,515,000 and net investment income of $13,785,000, producing net investment income per share of $0.35. Revenue and net investment income…
10-Q · November 1, 2023
Q3 results showed higher investment and other income of $35,738,000 (vs $29,698,000 in Q3 2022), producing net investment income of $19,104,000 and diluted NII per share of $0.54 (vs $0.51). Liquidity improved…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.