Trinity Capital Inc. (NASDAQ: TRIN) reported Q1 EPS of $0.31, $0.03 better than the analyst estimate of $0.28. Revenue for the quarter came in at $17.3 million versus the consensus estimate of $15.87 million.

First Quarter 2021 Highlights:

• Completed our IPO raising net proceeds of $104.2 million
• Total investment income of $17.3 million
• Net investment income of $7.3 million, or $0.31 per share
• Aggregate debt and equity investment commitments of $124.4 million
• Total gross investments funded of $87.1 million, comprised of $44.5 million across 6 new portfolio companies and $42.6 million across 13 existing portfolio companies
• Investment portfolio of $535.7 million at fair value
• Net Asset Value ("NAV") per share increased to $13.69 from $13.03 at December 31, 2020.
• Declared a dividend distribution during the first quarter of $0.28 per share

Steven Brown, Chairman and Chief Executive Officer of Trinity Capital, commented, "During the first quarter of 2021 Trinity continued to capitalize on its differentiated value proposition in the venture lending space as reflected in the successful completion of our IPO in February. Our growing originations team continued executing at a strong pace, as we entered into gross commitments of $124.4 million and funded $87.1 million providing a tremendous start to 2021. Investment Income increased by 41% year-over-year allowing us to increase our first quarter dividend to $0.28 per share and NAV per share increased by 5% to $13.69 per share. Our portfolio continues to perform well with over 99 percent of our portfolio current, reflecting our disciplined underwriting. Altogether, the results set a strong foundation for the rest of 2021."

For earnings history and earnings-related data on Trinity Capital Inc. (TRIN) click here.