TriplePoint Venture Growth BDC (TPVG) Tops Q2 EPS by 3c

TriplePoint Venture Growth BDC (NYSE: TPVG) reported Q2 EPS of $0.38, $0.03 better than the analyst estimate of $0.35.

Second Quarter 2020 Highlights

• Earned net investment income of $11.5 million, or $0.38 per share;
• Net increase in net assets of $21.2 million, or $0.69 per share;
• Recorded $19.4 million from the realization of warrant and equity gains from the sale of CrowdStrike, Inc. shares, with 56,747 shares still held as of June 30, 2020;
• Net asset value of $405.5 million, or $13.17 per share, at June 30, 2020, an increase of 2.7% from prior quarter;
• Signed $92.9 million of term sheets with venture growth stage companies at TriplePoint Capital LLC (“TPC”), and TPVG closed $13.9 million of new debt commitments to venture growth stage companies;
• Funded $20.5 million in debt investments to seven portfolio companies with a 14.4% weighted average annualized portfolio yield at origination;
• Achieved a 13.7% weighted average annualized portfolio yield on total debt investments for the quarter;
• Realized a 11.5% return on average equity, based on net investment income during the quarter;
• Ended the quarter with a 0.75x leverage ratio;
• The Company’s investment adviser, TriplePoint Advisers LLC (the “Adviser”), provided TPVG with an unsecured revolving credit line of up to $50.0 million, with $25.0 million available at close (and an accordion feature for an additional $25.0 million), subject to approval by the Adviser; and
• Declared a third quarter distribution of $0.36 per share, payable on September 15, 2020; bringing total declared distributions to $9.60 per share since the Company’s initial public offering.

For earnings history and earnings-related data on TriplePoint Venture Growth BDC (TPVG) click here.

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