Fidus Investment Corporation Announces Third Quarter 2024 Financial Results
Fidus Investment (NASDAQ:FDUS) reported strong financial results for Q3 2024, with total investment income of $38.4 million and net investment income of $21.4 million ($0.64 per share). The company invested $65.9 million in debt and equity securities, including three new portfolio companies, while receiving $50.8 million from repayments. The Board declared total dividends of $0.61 per share for Q4 2024, comprising a $0.43 base dividend and $0.18 supplemental dividend. The investment portfolio totaled $1,090.7 million across 85 active portfolio companies, with a weighted average yield on debt investments of 13.8%. The company maintained strong liquidity with $54.4 million in cash and $100 million unused credit facility capacity.
Fidus Investment (NASDAQ:FDUS) ha riportato risultati finanziari solidi per il terzo trimestre del 2024, con un reddito totale da investimenti di 38,4 milioni di dollari e un reddito netto da investimenti di 21,4 milioni di dollari (0,64 dollari per azione). L'azienda ha investito 65,9 milioni di dollari in titoli di debito ed azioni, inclusi tre nuove società nel portafoglio, ricevendo nel contempo 50,8 milioni di dollari da rimborsi. Il Consiglio ha dichiarato dividendi totali di 0,61 dollari per azione per il quarto trimestre del 2024, comprendenti un dividendo base di 0,43 dollari e un dividendo supplementare di 0,18 dollari. Il portafoglio di investimenti ammontava a 1.090,7 milioni di dollari distribuiti su 85 società attive, con un rendimento medio ponderato sugli investimenti in debito del 13,8%. L'azienda ha mantenuto una forte liquidità con 54,4 milioni di dollari in contante e 100 milioni di dollari di capacità di linea di credito inutilizzata.
Fidus Investment (NASDAQ:FDUS) informó sobre resultados financieros sólidos para el tercer trimestre de 2024, con un ingreso total por inversiones de $38.4 millones y un ingreso neto por inversiones de $21.4 millones ($0.64 por acción). La empresa invirtió $65.9 millones en valores de deuda y capital, incluyendo tres nuevas empresas en su cartera, mientras recibió $50.8 millones en reembolsos. La Junta declaró un dividendo total de $0.61 por acción para el cuarto trimestre de 2024, que incluye un dividendo base de $0.43 y un dividendo suplementario de $0.18. El portafolio de inversión totalizó $1,090.7 millones a través de 85 empresas activas, con un rendimiento promedio ponderado en inversiones de deuda del 13.8%. La empresa mantuvo una sólida liquidez con $54.4 millones en efectivo y $100 millones de capacidad de línea de crédito no utilizada.
피두스 투자 (NASDAQ:FDUS)는 2024년 3분기 강력한 재무 결과를 발표했으며, 총 투자 수익은 3,840만 달러, 순 투자 수익은 2,140만 달러(주당 0.64달러)입니다. 이 회사는 세 개의 새로운 포트폴리오 회사가 포함된 채무 및 주식 증권에 6,590만 달러를 투자했으며, 5,080만 달러를 상환받았습니다. 이사회는 2024년 4분기에 주당 0.61달러의 총 배당금을 선언했습니다, 여기에는 0.43달러의 기본 배당금과 0.18달러의 추가 배당금이 포함됩니다. 투자 포트폴리오는 85개의 활성 포트폴리오 회사를 통해 총 10억 9070만 달러에 이르며, 채무 투자에 대한 가중 평균 수익률은 13.8%입니다. 이 회사는 5,440만 달러 현금과 1억 달러의 사용되지 않은 신용 한도를 통해 강력한 유동성을 유지했습니다.
Fidus Investment (NASDAQ:FDUS) a annoncé de solides résultats financiers pour le troisième trimestre 2024, avec des revenus d'investissement totalisant 38,4 millions de dollars et un revenu net d'investissement de 21,4 millions de dollars (0,64 dollar par action). L'entreprise a investi 65,9 millions de dollars dans des titres de créance et des actions, notamment trois nouvelles sociétés dans son portefeuille, tout en recevant 50,8 millions de dollars de remboursements. Le Conseil a déclaré des dividendes totaux de 0,61 dollar par action pour le quatrième trimestre 2024, comprenant un dividende de base de 0,43 dollar et un dividende supplémentaire de 0,18 dollar. Le portefeuille d'investissement a totalisé 1.090,7 millions de dollars répartis sur 85 sociétés actives, avec un rendement moyen pondéré sur les investissements en créance de 13,8%. L'entreprise a maintenu une forte liquidité avec 54,4 millions de dollars en espèces et 100 millions de dollars de capacité de crédit inutilisée.
Fidus Investment (NASDAQ:FDUS) hat für das dritte Quartal 2024 starke finanzielle Ergebnisse berichtet, mit einem Gesamteinkommen aus Investitionen von 38,4 Millionen Dollar und einem Nettoeinkommen aus Investitionen von 21,4 Millionen Dollar (0,64 Dollar pro Aktie). Das Unternehmen investierte 65,9 Millionen Dollar in Schuldverschreibungen und Eigenkapitalwerte, darunter drei neue Portfoliounternehmen, während es 50,8 Millionen Dollar aus Rückzahlungen erhielt. Der Vorstand erklärte eine Gesamtdividende von 0,61 Dollar pro Aktie für das vierte Quartal 2024, bestehend aus einer Basisdividende von 0,43 Dollar und einer zusätzlichen Dividende von 0,18 Dollar. Das Investitionsportfolio belief sich auf insgesamt 1.090,7 Millionen Dollar in 85 aktiven Portfoliounternehmen, mit einer gewichteten durchschnittlichen Rendite auf Schuldverschreibungen von 13,8%. Das Unternehmen hielt eine starke Liquidität mit 54,4 Millionen Dollar in bar und 100 Millionen Dollar ungenutztem Kreditrahmen.
- Total investment income increased 12.3% YoY to $38.4 million
- Net investment income grew 28.5% YoY to $21.4 million
- Interest income rose 12.5% YoY to $31.9 million
- Dividend income increased 428.2% to $1.4 million
- Portfolio yield remained strong at 13.8%
- Payment-in-kind interest income decreased 33.6% YoY to $1.9 million
- Adjusted net investment income per share declined 10.3% YoY to $0.61
- Net increase in assets from operations decreased 32.2% YoY to $16.5 million
Insights
The Q3 2024 results demonstrate solid financial performance with several positive indicators.
The portfolio quality appears robust with a
Notable is the
The lower middle-market focus positions FDUS well in the current market environment. The company's investment strategy of maintaining a diversified portfolio across 85 active companies reduces concentration risk. New investments in healthcare IT (InductiveHealth) and aviation training (Thrust Flight) demonstrate strategic sector diversification.
The variable rate exposure on
The ATM program's success in raising
Board of Directors Declared Total Dividends of
Base Dividend of
EVANSTON, Ill., Oct. 31, 2024 (GLOBE NEWSWIRE) -- Fidus Investment Corporation (NASDAQ:FDUS) (“Fidus” or the “Company”), a provider of customized debt and equity financing solutions, primarily to lower middle-market companies based in the United States, today announced its financial results for the third quarter ended September 30, 2024.
Third Quarter 2024 Financial Highlights
- Total investment income of
$38.4 million - Net investment income of
$21.4 million , or$0.64 per share - Adjusted net investment income of
$20.4 million , or$0.61 per share(1) - Invested
$65.9 million in debt and equity securities, including three new portfolio companies - Received proceeds from repayments and realizations of
$50.8 million - Paid total dividends of
$0.57 per share: regular quarterly dividend of$0.43 and a supplemental dividend of$0.14 per share on September 26, 2024 - Net asset value (“NAV”) of
$658.8 million , or$19.42 per share, as of September 30, 2024 - Estimated spillover income (or taxable income in excess of distributions) as of September 30, 2024 of
$43.1 million , or$1.27 per share
Management Commentary
“For the third quarter, our debt investments generated a
(1) Supplemental information regarding adjusted net investment income:
On a supplemental basis, we provide information relating to adjusted net investment income, which is a non-GAAP measure. This measure is provided in addition to, but not as a substitute for, net investment income. Adjusted net investment income represents net investment income excluding any capital gains incentive fee expense or (reversal) attributable to realized and unrealized gains and losses. The management agreement with our investment adviser provides that a capital gains incentive fee is determined and paid annually with respect to cumulative realized capital gains (but not unrealized capital gains) to the extent such realized capital gains exceed realized and unrealized losses. In addition, we accrue, but do not pay, a capital gains incentive fee in connection with any unrealized capital appreciation, as appropriate. As such, we believe that adjusted net investment income is a useful indicator of operations exclusive of any capital gains incentive fee expense or (reversal) attributable to realized and unrealized gains and losses. The presentation of this additional information is not meant to be considered in isolation or as a substitute for financial results prepared in accordance with GAAP. Reconciliations of net investment income to adjusted net investment income are set forth in Schedule 1.
Third Quarter 2024 Financial Results
The following table provides a summary of our operating results for the three months ended September 30, 2024, as compared to the same period in 2023 (dollars in thousands, except per share data):
| Three Months Ended September 30, | ||||||||||||||||
| 2024 | 2023 | $ Change | % Change | |||||||||||||
| Interest income | $ | 31,857 | $ | 28,313 | $ | 3,544 | 12.5 | % | ||||||||
| Payment-in-kind interest income | 1,851 | 2,789 | (938 | ) | (33.6 | %) | ||||||||||
| Dividend income | 1,384 | 262 | 1,122 | 428.2 | % | |||||||||||
| Fee income | 2,693 | 2,255 | 438 | 19.4 | % | |||||||||||
| Interest on idle funds | 597 | 566 | 31 | 5.5 | % | |||||||||||
| Total investment income | $ | 38,382 | $ | 34,185 | $ | 4,197 | 12.3 | % | ||||||||
| Net investment income | $ | 21,411 | $ | 16,660 | $ | 4,751 | 28.5 | % | ||||||||
| Net investment income per share | $ | 0.64 | $ | 0.63 | $ | 0.01 | 1.6 | % | ||||||||
| Adjusted net investment income (1) | $ | 20,424 | $ | 18,188 | $ | 2,236 | 12.3 | % | ||||||||
| Adjusted net investment income per share (1) | $ | 0.61 | $ | 0.68 | $ | (0.07 | ) | (10.3 | %) | |||||||
| Net increase (decrease) in net assets resulting from operations | $ | 16,477 | $ | 24,299 | $ | (7,822 | ) | (32.2 | %) | |||||||
| Net increase (decrease) in net assets resulting from operations per share | $ | 0.49 | $ | 0.91 | $ | (0.42 | ) | (46.2 | %) | |||||||
The
For the three months ended September 30, 2024, total expenses, including the base management fee waiver and income tax provision, were
Net investment income increased by
For the three months ended September 30, 2024, the total net realized gain/(loss) on investments, net of income tax (provision)/benefit on realized gains, was
Portfolio and Investment Activities
As of September 30, 2024, the fair value of our investment portfolio totaled
Third quarter 2024 investment activity included the following new portfolio company investment:
- Jumo Health, Inc., a developer of creative, patient-centric educational solutions that improve health literacy to accelerate clinical trial enrollment and increase participant retention. Fidus invested
$6.0 million in first lien debt and$0.8 million in preferred equity. - Thrust Flight LLC, a provider of professional flight training services. Fidus invested
$9.8 million in first lien debt,$1.1 million in common equity and made additional commitments up to$2.6 million in first lien debt. - InductiveHealth Informatics, LLC, a leading provider of disease and syndromic surveillance solutions for health agencies. Fidus invested
$20.0 million in first lien debt and$0.4 million in preferred equity.
Liquidity and Capital Resources
As of September 30, 2024, we had
Fourth Quarter 2024 Dividends Totaling
On October 28, 2024, our board of directors declared a base dividend of
When declaring dividends, our board of directors reviews estimates of taxable income available for distribution, which differs from consolidated income under GAAP due to (i) changes in unrealized appreciation and depreciation, (ii) temporary and permanent differences in income and expense recognition, and (iii) the amount of undistributed taxable income carried over from a given year for distribution in the following year. The final determination of 2024 taxable income, as well as the tax attributes for 2024 dividends, will be made after the close of the 2024 tax year. The final tax attributes for 2024 dividends will generally include ordinary taxable income but may also include capital gains, qualified dividends and return of capital.
Fidus has adopted a dividend reinvestment plan (“DRIP”) that provides for reinvestment of dividends on behalf of its stockholders, unless a stockholder elects to receive cash. As a result, when we declare a cash dividend, stockholders who have not “opted out” of the DRIP at least two days prior to the dividend payment date will have their cash dividends automatically reinvested in additional shares of our common stock. Those stockholders whose shares are held by a broker or other financial intermediary may receive dividends in cash by notifying their broker or other financial intermediary of their election.
Subsequent Events
On October 1, 2024, we invested
On October 11, 2024, we exited our debt investment in US Fertility Enterprises, LLC. We received payment in full of
On October 24, 2024, we exited our debt investment in Sonicwall US Holdings, Inc. We received payment of
On October 25, 2024, we invested
Third Quarter 2024 Financial Results Conference Call
Management will host a conference call to discuss the operating and financial results at 9:00am ET on Friday, November 1, 2024. To participate in the conference call, please dial (844) 808-7136 approximately 10 minutes prior to the call. International callers should dial (412) 317-0534. Please ask to be joined into the Fidus Investment Corporation call.
A live webcast of the conference call will be available at http://investor.fdus.com/news-events/events-presentations. Please access the website 15 minutes prior to the start of the call to download and install any necessary audio software. An archived replay of the conference call will also be available in the investor relations section of the Company’s website.
ABOUT FIDUS INVESTMENT CORPORATION
Fidus Investment Corporation provides customized debt and equity financing solutions to lower middle-market companies, which management generally defines as U.S. based companies with revenues between
Fidus is an externally managed, closed-end, non-diversified management investment company that has elected to be treated as a business development company under the Investment Company Act of 1940, as amended. In addition, for tax purposes, Fidus has elected to be treated as a regulated investment company under Subchapter M of the Internal Revenue Code of 1986, as amended. Fidus was formed in February 2011 to continue and expand the business of Fidus Mezzanine Capital, L.P., which commenced operations in May 2007 and was licensed by the U.S. Small Business Administration as a Small Business Investment Company (SBIC).
FORWARD-LOOKING STATEMENTS
This press release may contain certain forward-looking statements which are based upon current expectations and are inherently uncertain, including, but not limited to, statements about the future performance and financial condition of the Company, the prospects of our existing and prospective portfolio companies, the financial condition and ability of our existing and prospective portfolio companies to achieve their objectives, and the timing, form and amount of any distributions or supplemental dividends in the future. Any such statements, other than statements of historical fact, are likely to be affected by other unknowable future events and conditions, including elements of the future that are or are not under the Company’s control, such as changes in the financial and lending markets, the impact of the general economy (including an economic downturn or recession), and the impact of interest rate volatility; accordingly, such statements cannot be guarantees or assurances of any aspect of future performance. Actual developments and results are highly likely to vary materially from these estimates and projections of the future as a result of a number of factors related to changes in the markets in which the Company invests, changes in the financial, capital, and lending markets, and other factors described from time to time in the Company’s filings with the Securities and Exchange Commission. Such statements speak only as of the time when made, and are based on information available to the Company as of the date hereof and are qualified in their entirety by this cautionary statement. The Company undertakes no obligation to update any such statement now or in the future, except as required by applicable law.
| FIDUS INVESTMENT CORPORATION Consolidated Statements of Assets and Liabilities (in thousands, except shares and per share data) | ||||||||||
| September 30, | December 31, | |||||||||
| 2024 | 2023 | |||||||||
| ASSETS | ||||||||||
| Investments, at fair value: | ||||||||||
| Control investments (cost: | $ | — | $ | — | ||||||
| Affiliate investments (cost: | 85,827 | 83,876 | ||||||||
| Non-control/non-affiliate investments (cost: | 1,004,848 | 874,030 | ||||||||
| Total investments, at fair value (cost: | 1,090,675 | 957,906 | ||||||||
| Cash and cash equivalents | 54,443 | 119,131 | ||||||||
| Interest receivable | 14,317 | 11,965 | ||||||||
| Prepaid expenses and other assets | 1,618 | 1,896 | ||||||||
| Total assets | $ | 1,161,053 | $ | 1,090,898 | ||||||
| LIABILITIES | ||||||||||
| SBA debentures, net of deferred financing costs | $ | 170,472 | $ | 204,472 | ||||||
| Notes, net of deferred financing costs | 248,081 | 247,243 | ||||||||
| Borrowings under Credit Facility, net of deferred financing costs | 38,853 | (1,082 | ) | |||||||
| Secured borrowings | 14,025 | 15,880 | ||||||||
| Accrued interest and fees payable | 3,544 | 5,924 | ||||||||
| Base management fee payable, net of base management fee waiver – due to affiliate | 4,784 | 4,151 | ||||||||
| Income incentive fee payable – due to affiliate | 5,059 | 4,570 | ||||||||
| Capital gains incentive fee payable – due to affiliate | 14,914 | 17,509 | ||||||||
| Administration fee payable and other, net – due to affiliate | 619 | 789 | ||||||||
| Taxes payable | 751 | 1,227 | ||||||||
| Accounts payable and other liabilities | 1,190 | 741 | ||||||||
| Total liabilities | $ | 502,292 | $ | 501,424 | ||||||
| Commitments and contingencies | ||||||||||
| NET ASSETS | ||||||||||
| Common stock, | ||||||||||
| issued and outstanding at September 30, 2024 and December 31, 2023, respectively) | $ | 34 | $ | 31 | ||||||
| Additional paid-in capital | 572,159 | 504,298 | ||||||||
| Total distributable earnings | 86,568 | 85,145 | ||||||||
| Total net assets | 658,761 | 589,474 | ||||||||
| Total liabilities and net assets | $ | 1,161,053 | $ | 1,090,898 | ||||||
| Net asset value per common share | $ | 19.42 | $ | 19.37 | ||||||
| FIDUS INVESTMENT CORPORATION Consolidated Statements of Operations (unaudited) (in thousands, except shares and per share data) | ||||||||||||||||
| Three Months Ended | Nine Months Ended | |||||||||||||||
| September 30, | September 30, | |||||||||||||||
| 2024 | 2023 | 2024 | 2023 | |||||||||||||
| Investment Income: | ||||||||||||||||
| Interest income | ||||||||||||||||
| Control investments | $ | — | $ | — | $ | — | $ | — | ||||||||
| Affiliate investments | 870 | 1,011 | 2,603 | 3,168 | ||||||||||||
| Non-control/non-affiliate investments | 30,987 | 27,302 | 88,899 | 77,268 | ||||||||||||
| Total interest income | 31,857 | 28,313 | 91,502 | 80,436 | ||||||||||||
| Payment-in-kind interest income | ||||||||||||||||
| Control investments | — | — | — | — | ||||||||||||
| Affiliate investments | — | — | — | — | ||||||||||||
| Non-control/non-affiliate investments | 1,851 | 2,789 | 5,745 | 4,661 | ||||||||||||
| Total payment-in-kind interest income | 1,851 | 2,789 | 5,745 | 4,661 | ||||||||||||
| Dividend income | ||||||||||||||||
| Control investments | — | — | — | — | ||||||||||||
| Affiliate investments | 1,328 | (1 | ) | 1,830 | 519 | |||||||||||
| Non-control/non-affiliate investments | 56 | 263 | 308 | 431 | ||||||||||||
| Total dividend income | 1,384 | 262 | 2,138 | 950 | ||||||||||||
| Fee income | ||||||||||||||||
| Control investments | — | — | — | — | ||||||||||||
| Affiliate investments | 5 | 5 | 15 | 60 | ||||||||||||
| Non-control/non-affiliate investments | 2,688 | 2,250 | 6,559 | 5,868 | ||||||||||||
| Total fee income | 2,693 | 2,255 | 6,574 | 5,928 | ||||||||||||
| Interest on idle funds | 597 | 566 | 2,738 | 1,824 | ||||||||||||
| Total investment income | 38,382 | 34,185 | 108,697 | 93,799 | ||||||||||||
| Expenses: | ||||||||||||||||
| Interest and financing expenses | 6,026 | 5,985 | 18,100 | 16,761 | ||||||||||||
| Base management fee | 4,848 | 4,161 | 13,986 | 12,066 | ||||||||||||
| Incentive fee - income | 5,059 | 4,478 | 14,072 | 11,959 | ||||||||||||
| Incentive fee (reversal) - capital gains | (987 | ) | 1,528 | 942 | 507 | |||||||||||
| Administrative service expenses | 688 | 581 | 1,894 | 1,672 | ||||||||||||
| Professional fees | 567 | 587 | 2,469 | 2,044 | ||||||||||||
| Other general and administrative expenses | 266 | 269 | 764 | 773 | ||||||||||||
| Total expenses before base management fee waiver | 16,467 | 17,589 | 52,227 | 45,782 | ||||||||||||
| Base management fee waiver | (64 | ) | (72 | ) | (200 | ) | (216 | ) | ||||||||
| Total expenses, net of base management fee waiver | 16,403 | 17,517 | 52,027 | 45,566 | ||||||||||||
| Net investment income before income taxes | 21,979 | 16,668 | 56,670 | 48,233 | ||||||||||||
| Income tax provision (benefit) | 568 | 8 | 682 | 66 | ||||||||||||
| Net investment income | 21,411 | 16,660 | 55,988 | 48,167 | ||||||||||||
| Net realized and unrealized gains (losses) on investments: | ||||||||||||||||
| Net realized gains (losses): | ||||||||||||||||
| Control investments | — | — | — | (11,458 | ) | |||||||||||
| Affiliate investments | — | 1 | — | 100 | ||||||||||||
| Non-control/non-affiliate investments | (366 | ) | 9,749 | 12,161 | 15,625 | |||||||||||
| Total net realized gain (loss) on investments | (366 | ) | 9,750 | 12,161 | 4,267 | |||||||||||
| Income tax (provision) benefit from realized gains on investments | — | (31 | ) | (1,523 | ) | (1,569 | ) | |||||||||
| Net change in unrealized appreciation (depreciation): | ||||||||||||||||
| Control investments | — | — | — | 11,083 | ||||||||||||
| Affiliate investments | 2,075 | (4,507 | ) | 417 | (9,109 | ) | ||||||||||
| Non-control/non-affiliate investments | (6,643 | ) | 2,450 | (5,823 | ) | (2,113 | ) | |||||||||
| Total net change in unrealized appreciation (depreciation) on investments | (4,568 | ) | (2,057 | ) | (5,406 | ) | (139 | ) | ||||||||
| Net gain (loss) on investments | (4,934 | ) | 7,662 | 5,232 | 2,559 | |||||||||||
| Realized losses on extinguishment of debt | — | (23 | ) | (521 | ) | (23 | ) | |||||||||
| Net increase (decrease) in net assets resulting from operations | $ | 16,477 | $ | 24,299 | $ | 60,699 | $ | 50,703 | ||||||||
| Per common share data: | ||||||||||||||||
| Net investment income per share-basic and diluted | $ | 0.64 | $ | 0.63 | $ | 1.74 | $ | 1.89 | ||||||||
| Net increase in net assets resulting from operations per share — basic and diluted | $ | 0.49 | $ | 0.91 | $ | 1.89 | $ | 1.99 | ||||||||
| Dividends declared per share | $ | 0.57 | $ | 0.72 | $ | 1.81 | $ | 2.08 | ||||||||
| Weighted average number of shares outstanding — basic and diluted | 33,380,480 | 26,618,973 | 32,138,865 | 25,490,379 | ||||||||||||
Schedule 1
Supplemental Information Regarding Adjusted Net Investment Income
On a supplemental basis, we provide information relating to adjusted net investment income, which is a non-GAAP measure. This measure is provided in addition to, but not as a substitute for, net investment income. Adjusted net investment income represents net investment income excluding any capital gains incentive fee expense or (reversal) attributable to realized and unrealized gains and losses. The management agreement with our investment advisor provides that a capital gains incentive fee is determined and paid annually with respect to cumulative realized capital gains (but not unrealized capital gains) to the extent such realized capital gains exceed realized and unrealized losses for such year, less the aggregate amount of any capital gains incentive fees paid in all prior years. In addition, we accrue, but do not pay, a capital gains incentive fee in connection with any unrealized capital appreciation, as appropriate. As such, we believe that adjusted net investment income is a useful indicator of operations exclusive of any capital gains incentive fee expense or (reversal) attributable to realized and unrealized gains and losses. The presentation of this additional information is not meant to be considered in isolation or as a substitute for financial results prepared in accordance with GAAP. The following table provides a reconciliation of net investment income to adjusted net investment income for the three and nine months ended September 30, 2024 and 2023.
| ($ in thousands) | ($ in thousands) | ||||||||||||||||||
| Three Months Ended | Nine Months Ended | ||||||||||||||||||
| September 30, | September 30, | ||||||||||||||||||
| (unaudited) | (unaudited) | ||||||||||||||||||
| 2024 | 2023 | 2024 | 2023 | ||||||||||||||||
| Net investment income | $ | 21,411 | $ | 16,660 | $ | 55,988 | $ | 48,167 | |||||||||||
| Capital gains incentive fee expense (reversal) | (987 | ) | 1,528 | 942 | 507 | ||||||||||||||
| Adjusted net investment income (1) | $ | 20,424 | $ | 18,188 | $ | 56,930 | $ | 48,674 | |||||||||||
| (Per share) | (Per share) | ||||||||||||||||||
| Three Months Ended | Nine Months Ended | ||||||||||||||||||
| September 30, | September 30, | ||||||||||||||||||
| (unaudited) | (unaudited) | ||||||||||||||||||
| 2024 | 2023 | 2024 | 2023 | ||||||||||||||||
| Net investment income | $ | 0.64 | $ | 0.63 | $ | 1.74 | $ | 1.89 | |||||||||||
| Capital gains incentive fee expense (reversal) | (0.03 | ) | 0.05 | 0.03 | 0.02 | ||||||||||||||
| Adjusted net investment income (1) | $ | 0.61 | $ | 0.68 | $ | 1.77 | $ | 1.91 | |||||||||||
| (1 | ) | Adjusted net investment income per share amounts are calculated as adjusted net investment income dividend by weighted average shares outstanding for the period. Due to rounding, the sum of net investment income per share and capital gains incentive fee expense (reversal) amounts may not equal the adjusted net investment income per share amount presented here. |
| Company Contact: | Investor Relations Contact: |
| Shelby E. Sherard | Jody Burfening |
| Chief Financial Officer | LHA |
| (847) 859-3940 | (212) 838-3777 |
| ssherard@fidusinv.com | jburfening@lhai.com |
FAQ
What was Fidus Investment 's (FDUS) dividend announcement for Q4 2024?
What was FDUS's net investment income for Q3 2024?
How much did FDUS invest in new and existing portfolio companies in Q3 2024?
What was FDUS's portfolio yield as of September 30, 2024?
