TriplePoint Venture Growth BDC (TPVG) Misses Q3 EPS by 2c

TriplePoint Venture Growth BDC (NYSE: TPVG) reported Q3 EPS of $0.32, $0.02 worse than the analyst estimate of $0.34.

• Signed $303.5 million of term sheets with venture growth stage companies at TriplePoint Capital LLC (“TPC”) and TPVG closed $116.3 million of new debt commitments to venture growth stage companies;
• Funded $117.0 million in debt investments to 15 portfolio companies with a 12.8% weighted average annualized portfolio yield at origination;
• Achieved a 12.3% weighted average annualized portfolio yield on total debt investments for the quarter;
• Increased net asset value to $431.4 million, or $13.92 per share, as of September 30, 2021, an increase of 7.0% from prior quarter;
• TPVG portfolio companies ForgeRock, Inc. and Toast, Inc. successfully completed initial public offerings, and Nerdy Inc. (f/k/a Varsity Tutors LLC) closed its SPAC merger;
• Earned net investment income of $9.9 million, or $0.32 per share, up from $9.4 million, or $0.30 per share, for the prior quarter;
• Generated a record $29.0 million of net realized and unrealized gains, resulting in a net increase in net assets resulting from operations of $38.9 million, or $1.26 per share;
• Debt investment portfolio weighted average investment ranking of 1.94 as of quarter’s end;
• Realized a 9.8% return on average equity, based on net investment income during the quarter;
• Held debt investments in 40 portfolio companies, an increase of 17.6% from the prior quarter, warrants in 71 portfolio companies and equity investments in 34 portfolio companies as of September 30, 2021;
• Ended the quarter with a 0.82x leverage ratio; and
• Declared a fourth quarter distribution of $0.36 per share, payable on December 15, 2021; bringing total declared distributions to $11.50 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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