Hercules Capital, Inc.HTGCNYSE
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Operating Expenses Over TimeExpanding
Percentile Rank100
3Y CAGR+10.7%
5Y CAGR+9.7%
Studio
Year-over-Year Change

Expenses from normal business operations (SG&A, R&D, etc.)

3Y CAGR
+10.7%/yr
vs +8.5%/yr prior
5Y CAGR
+9.7%/yr
Consistent
Acceleration
+2.2pp
Accelerating
Percentile
P100
Near historical high
vs 5Y Ago
1.6x
Solid growth
Streak
9 yr
Consecutive growthExpanding
PeriodValueYoY Change
2025$112.09M+23.5%
2024$90.78M+2.0%
2023$89.01M+7.8%
2022$82.56M+1.9%
2021$80.98M+14.8%
2020$70.51M+0.7%
2019$70.01M+17.5%
2018$59.59M+5.3%
2017$56.58M+32.5%
2016$42.69M-