The following is a summary of the Trinity Capital Inc. (TRIN) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Trinity Capital reported gross funding of $243 million across 20 portfolio companies.

• The company saw a year-on-year growth of 38% in Assets Under Management, which is now $1.6 billion.

• Their net investment income was a record $25.2 million, marking an increase of 30% from Q1 of the previous year.

• The Return of Equity stood at 16.1%.

• Quarterly dividend was increased to $0.51 per share, marking the 13th consecutive quarter of dividend increases.

• There was a record total investment income for Q1 of $50.5 million, up 21.5% from Q1 2023.

• However, the Net asset value decreased to $12.88 per share at the end of Q1, from $13.19 per share at the end of 2023.

Business Progress:

• The company is focused on scaling and delivering value to shareholders while expanding the business across four verticals namely, equipment financing, life sciences, warehouse lending, and tech lending.

• There's a plan to continue investment in team and systems, alongside portfolio diversification aimed at developing a top-performing direct lending platform.

• Potential investments are being explored, particularly in late-stage companies aiming for an IPO or exit opportunity.

• The company has targeted to deploy capital through its recently acquired RIA in Q2.

• An anticipated continued growth throughout 2024.

• Trinity Capital aims to minimize its headcount-to-AUM ratio as part of scaling efforts, and intends to generate more fee income off balance sheet from loans and equipment financings.

• Finally, the company is taking measures to mitigate risk in its funding base by diversifying borrowing sources and considering the potential future use of secured funding.

More details: Trinity Capital IR

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