Trinity Capital Inc

Trinity Capital posted a strong third quarter for 2025, reporting earnings per share of $0.52 and total investment income of $75.55 million, reflecting 22.3% year-over-year revenue growth as the business development company continued to scale its lending operations. The key driver behind the quarter's momentum was record gross investment fundings of $470.60 million, paired with $773.00 million in total new commitments across 37 portfolio companies, pushing the investment portfolio to $2.19 billion at fair value. Net Asset Value climbed to a fresh high of $998.30 million, or $13.31 per share, supported by accretive ATM equity issuances that raised $83.00 million in net proceeds during the quarter. Credit quality held steady, with non-accrual investments at just 1.0% of the debt portfolio, while the company declared its 23rd consecutive consistent or increased quarterly dividend of $0.51 per share, representing a 102.0% NII coverage ratio. Leverage edged up to 119% debt-to-equity as Trinity expanded its KeyBank credit facility and issued $125.00 million in new unsecured notes to fund continued portfolio growth.