Q2 25 EPS
$0.53
BEAT +2.16%
Est. $0.52
Q2 25 Revenue
$69.5M
BEAT +0.93%
Est. $68.8M
vs S&P Since Q2 25
+8.5%
BEATING MARKET
TRIN +26.3% vs S&P +17.8%
Market Reaction
Did TRIN Beat Earnings? Q2 2025 Results
Trinity Capital posted a clean beat across the board in Q2 2025, reporting earnings per share of $0.53 against the $0.52 consensus estimate, a 2.16% beat, while revenue of $69.48 million edged past the $68.84 million estimate and climbed 18.3% year-o… Read more Trinity Capital posted a clean beat across the board in Q2 2025, reporting earnings per share of $0.53 against the $0.52 consensus estimate, a 2.16% beat, while revenue of $69.48 million edged past the $68.84 million estimate and climbed 18.3% year-over-year. The primary engine behind the quarter was broad-based portfolio expansion, with the investment portfolio growing to $1.98 billion across 163 companies and originations reaching $519.80 million in new commitments, sustaining the kind of deal flow that has defined Trinity's growth trajectory. Net asset value hit a record $923.57 million, or $13.27 per share, up 35.8% year-over-year, supported by accretive equity issuances and net investment income exceeding dividends declared. The company extended its streak to 22 consecutive quarters of consistent or increased regular dividends, holding the payout at $0.51 per share, an annualized yield that may appeal to investors building passive income portfolios. With $848.90 million in unfunded commitments and fresh SEC co-investment relief, Trinity enters the second half of 2025 with a well-stocked pipeline.
Key Takeaways
- • 27.3% year-over-year growth in total investment income driven by portfolio expansion
- • 30.3% year-over-year growth in net investment income
- • Effective yield on average debt investments of 15.7%
- • Net unrealized appreciation of $14.9 million across warrant, equity, and debt investments
- • Robust origination activity with $519.8 million in new commitments
- • 80% floating rate debt portfolio providing interest rate sensitivity
- • Accretive ATM equity issuances raising $81.5 million in net proceeds during the quarter
- • NII exceeding dividend declared contributing to NAV growth
TRIN YoY Financials
Q2 2025 vs Q2 2024, source: SEC Filings
TRIN Revenue by Segment
With YoY comparisons, source: SEC Filings
“Our second-quarter performance rounded out a solid first half of 2025, reflecting disciplined execution across our credit strategies and sustained demand from growth-oriented companies. We enter the second half of 2025 with strong momentum in our direct lending businesses in addition to our RIA platform growth as we maintain a focus on delivering increasing value to our borrowers, partners, and investors.”
— Kyle Brown, Q2 2025 Earnings Press Release
TRIN Earnings Trends
TRIN vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
TRIN EPS Trend
Earnings per share: estimate vs actual
TRIN Revenue Trend
Quarterly revenue: estimate vs actual
TRIN Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 BEAT | $0.51 | $0.53 | +3.03% | $90.1M | +5.71% |
| Q4 25 BEAT FY | $0.52 | $0.52 | +0.41% | $83.2M | +4.03% |
| FY Full Year | $2.08 | $2.08 | -0.05% | $293.7M | +1.05% |
| Q3 25 MISS | $0.53 | $0.52 | -1.16% | $75.6M | +2.11% |
| Q2 25 BEAT | $0.52 | $0.53 | +2.16% | $69.5M | +0.93% |
| Q1 25 MISS | $0.52 | $0.52 | -0.55% | $65.4M | -3.70% |