Horizon Technology Finance Corporation (HRZN) Revenue History
Annual and quarterly revenue from 2009 to present
HRZN Revenue Over Time (2009–2025)
HRZN Revenue Growth History
7 of 15 years with positive growth- FY2009 revenue growth
- N/A
- FY2010 revenue growth
- -6.3%
- FY2011 revenue growth
- -3.5%
- FY2012 revenue growth
- -50.5%
- FY2013 revenue growth
- -1.3%
- FY2014 revenue growth
- +188.4%
- FY2015 revenue growth
- -28.2%
- FY2016 revenue growth
- -111.8%
- FY2017 revenue growth
- N/A
- FY2018 revenue growth
- +71.4%
- FY2019 revenue growth
- +39.4%
- FY2020 revenue growth
- -32.5%
- FY2021 revenue growth
- +126.4%
- FY2022 revenue growth
- +1.2%
- FY2023 revenue growth
- -58.3%
- FY2024 revenue growth
- +77.7%
- FY2025 revenue growth
- +17.9%
| Quarter | Revenue | YoY |
|---|---|---|
| Q1 2026 | $24.1M | — |
| Q4 2025 | $19.2M | — |
| Q3 2025 | $41.6M | — |
| Q2 2025 | $-9,889,000 | — |
| Q1 2025 | $-10,819,000 | — |
| Q4 2024 | $-2,396,000 | — |
| Q3 2024 | $17.0M | — |
| Q2 2024 | $604K | — |
Multi-year avg. share of annual revenue by fiscal quarter
HRZN Revenue Analysis (2009–2025)
Current Revenue & Growth
As of June 23, 2026, Horizon Technology Finance Corporation (HRZN) generated trailing twelve-month (TTM) revenue of $74.9 million. The most recent quarter (Q1 2026) recorded $24.1 million in revenue, up 25.6% sequentially.
Historical Growth Trajectory
HRZN's 5-year compound annual growth rate (CAGR) stands at +14.9%, indicating consistent double-digit revenue growth. The 3-year CAGR of -4.4% is below the 5-year average, signalling a growth deceleration in recent years. Horizon Technology Finance Corporation's highest annual revenue of $45.8 million was recorded in 2022.
Peer Comparison
Compared to Financial Services sector peers — including TPVG, HTGC, and SUNS (+133.7% YoY). Compare HRZN vs TPVG →
HRZN Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| HRZNCurrent | $75M | - | +14.9% | -4.0% | |
 TPVG | $97M | - | - | 77.9% | |
 HTGC | $547M | - | - | 66.7% | |
 SUNS | $26M | +133.7% | - | 64.2% | |
 PFLT | $172M | - | - | 39.4% | |
 ARCC | $3.1B | - | - | 69.7% |
HRZN Historical Revenue Data (2009–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $40.0M | - | $7.2M | 18.0% | $-1,598,000 | -4.0% |
| 2024 | $33.9M | - | $1.7M | 5.0% | $-4,157,000 | -12.2% |
| 2023 | $19.1M | - | $-9,871,000 | -51.7% | $-15,695,000 | -82.2% |
| 2022 | $45.8M | - | $26.6M | 58.1% | $21.9M | 47.7% |
| 2021 | $45.3M | - | $33.3M | 73.4% | $28.2M | 62.2% |
| 2020 | $20.0M | - | $10.3M | 51.6% | $6.6M | 32.9% |
| 2019 | $29.6M | - | $21.3M | 71.9% | $19.7M | 66.6% |
| 2018 | $21.3M | - | $14.9M | 70.1% | $13.0M | 61.3% |
| 2017 | $12.4M | - | $6.3M | 50.7% | $12.3M | 99.3% |
| 2016 | $-1,759,000 | - | $-9,481,000 | 539.0% | $17.0M | -967.1% |
| 2015 | $15.0M | - | $7.1M | 47.2% | $14.0M | 93.5% |
| 2014 | $20.8M | - | $20.8M | 100.0% | $10.9M | 52.2% |
| 2013 | $7.2M | - | $7.2M | 100.0% | $13.5M | 186.9% |
| 2012 | $7.3M | - | $22.5M | 306.7% | $12.2M | 167.0% |
| 2011 | $14.8M | - | $10.6M | 71.6% | $16.4M | 111.1% |
Intrinsic Valuation
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Historical Returns
17+ years return with dividends reinvested.
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Peer Comparison
Compare growth, multiples, and margins vs sector.
HRZN — Frequently Asked Questions
Quick answers to the most common questions about buying HRZN stock.
Is HRZN's revenue growth accelerating or slowing?
HRZN TTM revenue: $75M. YoY growth: N/A. 5-year CAGR: +14.9%.
What is HRZN's revenue history from 2009 to 2026?
Horizon Technology Finance Corporation (HRZN) revenue history spans 2009 to 2026. TTM revenue as of 2026 is $75M, growing at N/A YoY. The 5-year CAGR is +14.9%. Complete annual and quarterly revenue figures are available on this page, including gross profit, operating income, and margin trends.
What is HRZN's long-term revenue growth rate (CAGR)?
Horizon Technology Finance Corporation's 5-year revenue CAGR of +14.9% reflects the variable nature of its business expansion. As of 2026, the current YoY growth rate of N/A is in line with this long-term average. CAGR is the most reliable measure of sustained revenue momentum for HRZN.
Why does HRZN's quarterly revenue fluctuate?
HRZN quarterly revenue can fluctuate significantly between periods. A quarter-over-quarter (QoQ) change does not always indicate a trend; comparing the same quarter year-over-year (YoY) is a more reliable signal for underlying growth. Horizon Technology Finance Corporation's revenue data from 2009 to 2026 shows full historical quarterly detail on this page.
How is HRZN's revenue distributed by segment?
HRZN reports revenue broken down by product line and geographic region. The segment breakdown on this page shows which business units contribute the most to total revenue as of the latest fiscal year. Concentration in a single segment above 50% indicates category dependence, while a diversified mix signals more resilient revenue streams.
How does HRZN's revenue compare to industry peers?
Horizon Technology Finance Corporation (HRZN) with TTM revenue of $75M and N/A YoY growth can be benchmarked against sector peers using the comparison table on this page. Revenue growth relative to peers indicates market share gains or losses. The peer section shows TTM revenue, YoY growth, and operating margin for direct comparisons.