TPVG - TriplePoint Venture Growth stock gains after Q4 results beat yield rises

TriplePoint Venture Growth BDC ( NYSE: TPVG ) stock rose 2.7% in Wednesday after-hours trading after the business development company posted Q1 net investment income topping the average analyst estimate.

Q4 net investment income of $0.58 per share, surpassing the $0.47 consensus, rose from $0.51 in Q3 and $0.42 in Q4 2021.

Net asset value of $11.88 per share at Dec. 31, 2022 vs. $12.69 at Sept. 30.

The company ended the quarter with 1.36x leverage ratio compared with 1.15x at the end of Q3.

During the quarter, TriplePoint Venture Growth ( TPVG ) entered into $104.7M of new debt commitments with 12 portfolio companies, funded debt investments totaling $94.6M to 16 companies, acquired warrants valued at $1.1M in 16 portfolio companies, and made equity investments of $0.4M in two portfolio companies.

TPVG received $33.7M of principal prepayments, $35.7M of early repayments (including refinancings), and $3.5M of scheduled principal amortization.

Debt investments funded during the quarter carried a weighted average annualized portfolio yield of 15.4% at origination.

In Q4, the weighted average annualized portfolio yield on total debt investments was was 15.3% compared with 13.8% in Q3.

Conference call at 5:00 PM ET.

Earlier, TriplePoint Venture Growth ( TPVG ) Q4 NII of $0.58 beats by $0.11, revenue of $34.95M beats by $2.02M

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