Monroe Capital Corporation BDC Announces Fourth Quarter and Full Year 2024 Results
Monroe Capital (NASDAQ: MRCC) has released its Q4 and full-year 2024 financial results. Q4 highlights include Net Investment Income (NII) of $6.0 million ($0.28 per share) and Adjusted Net Investment Income of $6.2 million ($0.29 per share). The company reported a net decrease in assets of $1.7 million (-$0.08 per share) and NAV of $191.8 million ($8.85 per share).
Full-year 2024 performance showed NII of $24.5 million ($1.13 per share) and Adjusted Net Investment Income of $25.0 million ($1.15 per share). The Board declared a Q1 2025 distribution of $0.25 per share, maintaining an 11.4% annual dividend yield. NAV decreased by 3.6% quarter-over-quarter, primarily due to unrealized losses in certain portfolio investments.
The company's debt-to-equity ratio increased slightly from 1.50x to 1.53x. Total investment income for Q4 2024 was $14.0 million, down from $15.7 million in Q3 2024, mainly due to the declining interest rate environment.
Monroe Capital (NASDAQ: MRCC) ha pubblicato i risultati finanziari del quarto trimestre e dell'intero anno 2024. I punti salienti del Q4 includono un Reddito Netto da Investimenti (NII) di 6,0 milioni di dollari (0,28 dollari per azione) e un Reddito Netto da Investimenti Rettificato di 6,2 milioni di dollari (0,29 dollari per azione). L'azienda ha riportato una diminuzione netta delle attività di 1,7 milioni di dollari (-0,08 dollari per azione) e un NAV di 191,8 milioni di dollari (8,85 dollari per azione).
Le prestazioni dell'intero anno 2024 hanno mostrato un NII di 24,5 milioni di dollari (1,13 dollari per azione) e un Reddito Netto da Investimenti Rettificato di 25,0 milioni di dollari (1,15 dollari per azione). Il Consiglio ha dichiarato una distribuzione per il Q1 2025 di 0,25 dollari per azione, mantenendo un rendimento annuale del dividendo dell'11,4%. Il NAV è diminuito del 3,6% rispetto al trimestre precedente, principalmente a causa di perdite non realizzate in alcuni investimenti del portafoglio.
Il rapporto debito/capitale dell'azienda è aumentato leggermente da 1,50x a 1,53x. Il reddito totale da investimenti per il Q4 2024 è stato di 14,0 milioni di dollari, in calo rispetto ai 15,7 milioni di dollari nel Q3 2024, principalmente a causa dell'ambiente di tassi d'interesse in calo.
Monroe Capital (NASDAQ: MRCC) ha publicado sus resultados financieros del cuarto trimestre y del año completo 2024. Los aspectos destacados del Q4 incluyen un Ingreso Neto de Inversiones (NII) de 6,0 millones de dólares (0,28 dólares por acción) y un Ingreso Neto de Inversiones Ajustado de 6,2 millones de dólares (0,29 dólares por acción). La compañía reportó una disminución neta de activos de 1,7 millones de dólares (-0,08 dólares por acción) y un NAV de 191,8 millones de dólares (8,85 dólares por acción).
El rendimiento del año completo 2024 mostró un NII de 24,5 millones de dólares (1,13 dólares por acción) y un Ingreso Neto de Inversiones Ajustado de 25,0 millones de dólares (1,15 dólares por acción). La Junta declaró una distribución para el Q1 2025 de 0,25 dólares por acción, manteniendo un rendimiento de dividendo anual del 11,4%. El NAV disminuyó un 3,6% en comparación con el trimestre anterior, principalmente debido a pérdidas no realizadas en ciertas inversiones de la cartera.
La relación deuda/capital de la compañía aumentó ligeramente de 1,50x a 1,53x. El ingreso total por inversiones para el Q4 2024 fue de 14,0 millones de dólares, en comparación con los 15,7 millones de dólares en el Q3 2024, principalmente debido a la disminución de las tasas de interés.
모노로우 캐피탈 (NASDAQ: MRCC)이 2024년 4분기 및 연간 재무 결과를 발표했습니다. 4분기 하이라이트에는 600만 달러(주당 0.28달러)의 순투자소득(NII)과 620만 달러(주당 0.29달러)의 조정된 순투자소득이 포함됩니다. 회사는 자산이 170만 달러(-주당 0.08달러) 감소했으며, NAV는 1억 9180만 달러(주당 8.85달러)로 보고했습니다.
2024년 전체 성과는 2450만 달러(주당 1.13달러)의 NII와 2500만 달러(주당 1.15달러)의 조정된 순투자소득을 보여주었습니다. 이사회는 2025년 1분기 배당금을 주당 0.25달러로 선언하며, 연간 배당 수익률을 11.4%로 유지했습니다. NAV는 분기별로 3.6% 감소했으며, 이는 주로 일부 포트폴리오 투자에서 실현되지 않은 손실 때문입니다.
회사의 부채 대 자본 비율은 1.50배에서 1.53배로 약간 증가했습니다. 2024년 4분기 총 투자 수익은 1400만 달러로, 2024년 3분기의 1570만 달러에서 감소했으며, 이는 주로 금리 하락 환경 때문입니다.
Monroe Capital (NASDAQ: MRCC) a publié ses résultats financiers pour le quatrième trimestre et l'année entière 2024. Les points forts du Q4 incluent un Revenu Net d'Investissement (NII) de 6,0 millions de dollars (0,28 dollars par action) et un Revenu Net d'Investissement Ajusté de 6,2 millions de dollars (0,29 dollars par action). L'entreprise a signalé une diminution nette des actifs de 1,7 million de dollars (-0,08 dollars par action) et une NAV de 191,8 millions de dollars (8,85 dollars par action).
La performance de l'année entière 2024 a montré un NII de 24,5 millions de dollars (1,13 dollars par action) et un Revenu Net d'Investissement Ajusté de 25,0 millions de dollars (1,15 dollars par action). Le Conseil a déclaré une distribution pour le Q1 2025 de 0,25 dollars par action, maintenant un rendement de dividende annuel de 11,4%. La NAV a diminué de 3,6% d'un trimestre à l'autre, principalement en raison de pertes non réalisées sur certains investissements de portefeuille.
Le ratio de la dette sur les capitaux propres de l'entreprise a légèrement augmenté, passant de 1,50x à 1,53x. Le revenu total des investissements pour le Q4 2024 était de 14,0 millions de dollars, en baisse par rapport à 15,7 millions de dollars au Q3 2024, principalement en raison de la baisse des taux d'intérêt.
Monroe Capital (NASDAQ: MRCC) hat seine finanziellen Ergebnisse für das vierte Quartal und das gesamte Jahr 2024 veröffentlicht. Die Highlights des Q4 umfassen ein Nettoinvestitionseinkommen (NII) von 6,0 Millionen Dollar (0,28 Dollar pro Aktie) und ein bereinigtes Nettoinvestitionseinkommen von 6,2 Millionen Dollar (0,29 Dollar pro Aktie). Das Unternehmen berichtete von einem Nettovermögensrückgang von 1,7 Millionen Dollar (-0,08 Dollar pro Aktie) und einem NAV von 191,8 Millionen Dollar (8,85 Dollar pro Aktie).
Die Leistung des gesamten Jahres 2024 zeigte ein NII von 24,5 Millionen Dollar (1,13 Dollar pro Aktie) und ein bereinigtes Nettoinvestitionseinkommen von 25,0 Millionen Dollar (1,15 Dollar pro Aktie). Der Vorstand erklärte eine Ausschüttung für das Q1 2025 von 0,25 Dollar pro Aktie und hält eine jährliche Dividendenrendite von 11,4% aufrecht. Der NAV fiel im Quartalsvergleich um 3,6%, hauptsächlich aufgrund von nicht realisierten Verlusten in bestimmten Portfolioinvestitionen.
Das Verhältnis von Schulden zu Eigenkapital des Unternehmens stieg leicht von 1,50x auf 1,53x. Das gesamte Investitionseinkommen für das Q4 2024 betrug 14,0 Millionen Dollar, ein Rückgang von 15,7 Millionen Dollar im Q3 2024, hauptsächlich aufgrund des rückläufigen Zinsumfelds.
- Maintained quarterly dividend of $0.25 per share with 11.4% annual yield
- Full-year 2024 NII increased to $24.5M from $23.2M in 2023
- Q4 2024 Adjusted Net Investment Income of $0.29 per share exceeded quarterly dividend
- NAV decreased 3.6% QoQ to $8.85 per share
- Q4 investment income declined to $14.0M from $15.7M in Q3
- Net loss of $7.7M in Q4 2024 vs $1.5M loss in Q3
- Portfolio mark decreased to 92.2% from 93.9% of amortized cost
- Debt-to-equity ratio increased to 1.53x from 1.50x
Insights
Monroe Capital 's Q4 2024 results reveal both strengths and challenges for this middle-market BDC. While the company maintained its
Q4 Net Investment Income of
More concerning is the NAV deterioration to
The company's leverage increased slightly to 1.53x debt-to-equity, though management noted some portfolio company paydowns occurred late in the quarter with proceeds subsequently used to reduce revolving credit facility debt.
MRCC's Senior Loan Fund joint venture contributed
While MRCC's predominantly first-lien portfolio provides some downside protection, the persistent NAV erosion warrants close monitoring despite the attractive dividend yield.
CHICAGO, March 03, 2025 (GLOBE NEWSWIRE) -- Monroe Capital Corporation (NASDAQ: MRCC) today announced its financial results for the fourth quarter and full year ended December 31, 2024. The Board of Directors of Monroe also declared its first quarter distribution of
Except where the context suggests otherwise, the terms “Company,” “we,” “us,” and “our” refer to Monroe Capital Corporation (together with its subsidiaries).
Fourth Quarter 2024 Financial Highlights
- Net Investment Income ("NII") of
$6.0 million , or$0.28 per share - Adjusted Net Investment Income (a non-GAAP measure described below) of
$6.2 million , or$0.29 per share - Net increase (decrease) in net assets resulting from operations of
$(1.7) million , or$(0.08) per share - Net Asset Value (“NAV”) of
$191.8 million , or$8.85 per share - Paid quarterly dividend of
$0.25 per share on December 30, 2024 - Current annual cash dividend yield to stockholders of approximately
11.4% (1)
Full Year 2024 Financial Highlights
- NII of
$24.5 million , or$1.13 per share - Adjusted Net Investment Income (a non-GAAP measure described below) of
$25.0 million , or$1.15 per share - Net increase in net assets resulting from operations of
$9.7 million , or$0.45 per share
Chief Executive Officer Theodore L. Koenig commented, “We are pleased to announce that we paid a
Monroe Capital Corporation is a business development company affiliate of the award-winning private credit investment firm and lender, Monroe Capital LLC.
_______________________
(1) Based on an annualized dividend and closing share price as of February 28, 2025.
Management Commentary
Adjusted Net Investment Income totaled
At quarter end, the Company's debt-to-equity leverage increased from 1.50 times debt-to-equity at September 30, 2024 to 1.53 times debt-to-equity at December 31, 2024 as a result of the timing of certain portfolio company paydowns. These proceeds were used to pay down the revolving credit facility subsequent to year-end. We continue to focus on managing our investment portfolio and selectively redeploying capital resulting from future repayments.
Selected Financial Highlights
(in thousands, except per share data)
| December 31, 2024 | September 30, 2024 | ||||||
| Consolidated Statements of Assets and Liabilities data: | (audited) | (unaudited) | |||||
| Investments, at fair value | $ | 457,048 | $ | 474,259 | |||
| Total assets | $ | 490,671 | $ | 501,862 | |||
| Net assets | $ | 191,762 | $ | 198,893 | |||
| Net asset value per share | $ | 8.85 | $ | 9.18 | |||
| For the Quarters Ended | |||||||
| December 31, 2024 | September 30, 2024 | ||||||
| Consolidated Statements of Operations data: | (unaudited) | ||||||
| Net investment income | $ | 6,022 | $ | 6,481 | |||
| Adjusted net investment income(2) | $ | 6,185 | $ | 6,617 | |||
| Net gain (loss) | $ | (7,737 | ) | $ | (1,515 | ) | |
| Net increase (decrease) in net assets resulting from operations | $ | (1,715 | ) | $ | 4,966 | ||
| Per share data: | |||||||
| Net investment income | $ | 0.28 | $ | 0.30 | |||
| Adjusted net investment income(2) | $ | 0.29 | $ | 0.31 | |||
| Net gain (loss) | $ | (0.36 | ) | $ | (0.07 | ) | |
| Net increase (decrease) in net assets resulting from operations | $ | (0.08 | ) | $ | 0.23 | ||
_______________________
(2) See Non-GAAP Financial Measure – Adjusted Net Investment Income below for a detailed description of this non-GAAP measure and a reconciliation from NII to Adjusted Net Investment Income. The Company uses this non-GAAP financial measure internally in analyzing financial results and believes that this non-GAAP financial measure is useful to investors as an additional tool to evaluate ongoing results and trends for the Company.
Portfolio Summary
| December 31, 2024 | September 30, 2024 | ||||||
| (unaudited) | |||||||
| Investments, at fair value | $ | 457,048 | $ | 474,259 | |||
| Number of portfolio company investments | 91 | 94 | |||||
| Percentage portfolio company investments on non-accrual(3) | 3.4 | % | 3.1 | % | |||
| Weighted average contractual yield(4) | 10.2 | % | 11.0 | % | |||
| Weighted average effective yield(4) | 10.2 | % | 11.0 | % | |||
| Asset class percentage at fair value: | |||||||
| First lien loans | 79.1 | % | 80.0 | % | |||
| Junior secured loans | 6.5 | % | 6.4 | % | |||
| Equity securities | 14.4 | % | 13.6 | % | |||
_______________________
(3) Represents portfolio loans or preferred equity investments on non-accrual status as a percentage of total investments at fair value.
(4) Portfolio yield is calculated only on the portion of the portfolio that has a contractual coupon and therefore does not account for dividends on equity investments (other than preferred equity investments).
Financial Review
Results of Operations: Fourth Quarter 2024
NII for the quarter ended December 31, 2024 totaled
Total investment income for the quarter ended December 31, 2024 totaled
Total expenses for the quarter ended December 31, 2024 were
Net gain (loss) was
The Company's average portfolio mark decreased by
Net increase (decrease) in net assets resulting from operations was
Results of Operations: Full Year 2024
NII for the year ended December 31, 2024 totaled
Total investment income for the year ended December 31, 2024 totaled
Total expenses for the year ended December 31, 2024 were
Net gain (loss) was
The Company's average portfolio mark decreased by
Net increase (decrease) in net assets resulting from operations was
Liquidity and Capital Resources
As of December 31, 2024, the Company had
MRCC Senior Loan Fund
MRCC Senior Loan Fund I, LLC ("SLF") is a joint venture with Life Insurance Company of the Southwest (“LSW”), an affiliate of National Life Insurance Company. SLF invests primarily in senior secured loans to middle market companies in the United States. The Company and LSW have each committed
As of December 31, 2024, SLF had total assets of
Non-GAAP Financial Measure – Adjusted Net Investment Income
On a supplemental basis, the Company discloses Adjusted Net Investment Income (including on a per share basis) which is a financial measure that is calculated and presented on a basis of methodology other than in accordance with generally accepted accounting principles of the United States of America (“non-GAAP”). Adjusted Net Investment Income represents NII, excluding the net capital gains incentive fee and income taxes. The Company uses this non-GAAP financial measure internally in analyzing financial results and believes that this non-GAAP financial measure is useful to investors as an additional tool to evaluate ongoing results and trends for the Company. The management agreement with the Company’s advisor provides that a capital gains incentive fee is determined and paid annually with respect to realized capital gains (but not unrealized capital gains) to the extent such realized capital gains exceed realized and unrealized capital losses for such year. Management believes that Adjusted Net Investment Income is a useful indicator of operations exclusive of any net capital gains incentive fee as NII does not include gains associated with the capital gains incentive fee.
The following tables provide a reconciliation from NII (the most comparable GAAP measure) to Adjusted Net Investment Income for the periods presented (in thousands, except per share data):
| For the Quarters Ended | |||||||||||||||
| December 31, 2024 | September 30, 2024 | ||||||||||||||
| Amount | Per Share Amount | Amount | Per Share Amount | ||||||||||||
| (unaudited) | |||||||||||||||
| Net investment income | $ | 6,022 | $ | 0.28 | $ | 6,481 | $ | 0.30 | |||||||
| Net capital gains incentive fee | — | — | — | — | |||||||||||
| Income taxes, including excise taxes | 163 | 0.01 | 136 | 0.01 | |||||||||||
| Adjusted Net Investment Income | $ | 6,185 | $ | 0.29 | $ | 6,617 | $ | 0.31 | |||||||
| For the Years Ended | |||||||||||||||
| December 31, 2024 | December 31, 2023 | ||||||||||||||
| Amount | Per Share Amount | Amount | Per Share Amount | ||||||||||||
| (unaudited) | |||||||||||||||
| Net investment income | $ | 24,532 | $ | 1.13 | $ | 23,249 | $ | 1.07 | |||||||
| Net capital gains incentive fee | — | — | — | — | |||||||||||
| Income taxes, including excise taxes | 452 | 0.02 | 806 | 0.04 | |||||||||||
| Adjusted Net Investment Income | $ | 24,984 | $ | 1.15 | $ | 24,055 | $ | 1.11 | |||||||
Adjusted Net Investment Income may not be comparable to similar measures presented by other companies, as it is a non-GAAP financial measure that is not based on a comprehensive set of accounting rules or principles and therefore may be defined differently by other companies. In addition, Adjusted Net Investment Income should be considered in addition to, not as a substitute for, or superior to, financial measures determined in accordance with GAAP.
Fourth Quarter 2024 Financial Results Conference Call
The Company will host a webcast and conference call to discuss these operating and financial results on Monday, March 3, 2025 at 12:00 p.m. Eastern Time. The webcast will be hosted on a webcast link located in the Investor Relations section of the Company’s website at http://ir.monroebdc.com/events.cfm. To participate in the conference call, please dial (800) 715-9871 approximately 10 minutes prior to the call. Please reference conference ID # 7817000.
For those unable to listen to the live broadcast, the webcast will be available for replay on the Company’s website approximately two hours after the event.
For a more detailed discussion of the financial and other information included in this press release, please also refer to the Company’s Form 10-K for the year ended December 31, 2024, which was filed with the SEC (www.sec.gov) on Friday, February 28, 2025.
First Quarter 2025 Distribution
The Board of Directors of the Company declared its first quarter distribution of
| MONROE CAPITAL CORPORATION CONSOLIDATED STATEMENTS OF ASSETS AND LIABILITIES (in thousands, except per share data) | |||||||||||
| December 31, 2024 | September 30, 2024 | December 31, 2023 | |||||||||
| (audited) | (unaudited) | (audited) | |||||||||
| Assets | |||||||||||
| Investments, at fair value: | |||||||||||
| Non-controlled/non-affiliate company investments | $ | 343,835 | $ | 355,273 | $ | 371,723 | |||||
| Non-controlled affiliate company investments | 80,483 | 86,089 | 83,541 | ||||||||
| Controlled affiliate company investments | 32,730 | 32,897 | 33,122 | ||||||||
| Total investments, at fair value (amortized cost of: | 457,048 | 474,259 | 488,386 | ||||||||
| Cash and cash equivalents | 9,044 | 4,070 | 4,958 | ||||||||
| Interest and dividend receivable | 23,511 | 22,910 | 19,349 | ||||||||
| Other assets | 1,068 | 623 | 493 | ||||||||
| Total assets | $ | 490,671 | $ | 501,862 | $ | 513,186 | |||||
| Liabilities | |||||||||||
| Debt | $ | 293,900 | $ | 299,000 | $ | 304,100 | |||||
| Less: Unamortized debt issuance costs | (1,925 | ) | (2,254 | ) | (3,235 | ) | |||||
| Total debt, less unamortized debt issuance costs | 291,975 | 296,746 | 300,865 | ||||||||
| Interest payable | 2,903 | 1,351 | 3,078 | ||||||||
| Base management fees payable | 1,965 | 2,006 | 2,100 | ||||||||
| Incentive fees payable | — | 730 | 1,319 | ||||||||
| Accounts payable and accrued expenses | 2,066 | 2,090 | 2,100 | ||||||||
| Directors' fees payable | — | 46 | — | ||||||||
| Total liabilities | 298,909 | 302,969 | 309,462 | ||||||||
| Net Assets | |||||||||||
| Common stock, | $ | 22 | $ | 22 | $ | 22 | |||||
| Capital in excess of par value | 297,712 | 298,127 | 298,127 | ||||||||
| Accumulated undistributed (overdistributed) earnings | (105,972 | ) | (99,256 | ) | (94,425 | ) | |||||
| Total net assets | $ | 191,762 | $ | 198,893 | $ | 203,724 | |||||
| Total liabilities and total net assets | $ | 490,671 | $ | 501,862 | $ | 513,186 | |||||
| Net asset value per share | $ | 8.85 | $ | 9.18 | $ | 9.40 | |||||
| MONROE CAPITAL CORPORATION CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except per share data) | |||||||||||||||
| For the Quarters Ended | For the Years Ended | ||||||||||||||
| December 31, 2024 | September 30, 2024 | December 31, 2024 | December 31, 2023 | ||||||||||||
| (unaudited) | (audited) | ||||||||||||||
| Investment income: | |||||||||||||||
| Non-controlled/non-affiliate company investments: | |||||||||||||||
| Interest income | $ | 8,576 | $ | 10,408 | $ | 40,787 | $ | 46,241 | |||||||
| Payment-in-kind interest income | 1,379 | 919 | 3,877 | 3,070 | |||||||||||
| Dividend income | 237 | 114 | 472 | 305 | |||||||||||
| Other income | 310 | 694 | 1,306 | (679 | ) | ||||||||||
| Total investment income from non-controlled/non-affiliate company investments | 10,502 | 12,135 | 46,442 | 48,937 | |||||||||||
| Non-controlled affiliate company investments: | |||||||||||||||
| Interest income | 1,300 | 1,202 | 4,963 | 5,140 | |||||||||||
| Payment-in-kind interest income | 1,247 | 1,402 | 5,284 | 6,337 | |||||||||||
| Dividend income | 56 | 56 | 220 | 283 | |||||||||||
| Other income | 18 | — | 18 | — | |||||||||||
| Total investment income from non-controlled affiliate company investments | 2,621 | 2,660 | 10,485 | 11,760 | |||||||||||
| Controlled affiliate company investments: | |||||||||||||||
| Dividend income | 900 | 900 | 3,600 | 3,600 | |||||||||||
| Total investment income from controlled affiliate company investments | 900 | 900 | 3,600 | 3,600 | |||||||||||
| Total investment income | 14,023 | 15,695 | 60,527 | 64,297 | |||||||||||
| Operating expenses: | |||||||||||||||
| Interest and other debt financing expenses | 5,113 | 5,517 | 21,917 | 22,847 | |||||||||||
| Base management fees | 1,965 | 2,006 | 8,056 | 8,603 | |||||||||||
| Incentive fees | — | 730 | 2,449 | 5,812 | |||||||||||
| Professional fees | 196 | 239 | 902 | 719 | |||||||||||
| Administrative service fees | 282 | 270 | 1,011 | 940 | |||||||||||
| General and administrative expenses | 233 | 270 | 964 | 1,174 | |||||||||||
| Directors' fees | 49 | 46 | 244 | 147 | |||||||||||
| Total operating expenses | 7,838 | 9,078 | 35,543 | 40,242 | |||||||||||
| Net investment income before income taxes | 6,185 | 6,617 | 24,984 | 24,055 | |||||||||||
| Income taxes, including excise taxes | 163 | 136 | 452 | 806 | |||||||||||
| Net investment income | 6,022 | 6,481 | 24,532 | 23,249 | |||||||||||
| Net gain (loss): | |||||||||||||||
| Net realized gain (loss): | |||||||||||||||
| Non-controlled/non-affiliate company investments | 283 | 638 | 1,431 | (38,769 | ) | ||||||||||
| Foreign currency forward contracts | — | — | — | 1,756 | |||||||||||
| Foreign currency and other transactions | — | — | — | (135 | ) | ||||||||||
| Net realized gain (loss) | 283 | 638 | 1,431 | (37,148 | ) | ||||||||||
| Net change in unrealized gain (loss): | |||||||||||||||
| Non-controlled/non-affiliate company investments | (1,139 | ) | (2,743 | ) | (8,211 | ) | 22,154 | ||||||||
| Non-controlled affiliate company investments | (6,694 | ) | 771 | (7,656 | ) | (3,990 | ) | ||||||||
| Controlled affiliate company investments | (167 | ) | (201 | ) | (392 | ) | (2,387 | ) | |||||||
| Foreign currency forward contracts | — | — | — | (1,507 | ) | ||||||||||
| Foreign currency and other transactions | (20 | ) | 20 | — | — | ||||||||||
| Net change in unrealized gain (loss) | (8,020 | ) | (2,153 | ) | (16,259 | ) | 14,270 | ||||||||
| Net gain (loss) | (7,737 | ) | (1,515 | ) | (14,828 | ) | (22,878 | ) | |||||||
| Net increase (decrease) in net assets resulting from operations | $ | (1,715 | ) | $ | 4,966 | $ | 9,704 | $ | 371 | ||||||
| Per common share data: | |||||||||||||||
| Net investment income per share - basic and diluted | $ | 0.28 | $ | 0.30 | $ | 1.13 | $ | 1.07 | |||||||
| Net increase (decrease) in net assets resulting from operations per share - basic and diluted | $ | (0.08 | ) | $ | 0.23 | $ | 0.45 | $ | 0.02 | ||||||
| Weighted average common shares outstanding - basic and diluted | 21,666 | 21,666 | 21,666 | 21,666 | |||||||||||
Additional Supplemental Information:
The composition of the Company’s investment income was as follows (in thousands):
| For the Quarters Ended | For the Years Ended | ||||||||||||||
| December 31, 2024 | September 30, 2024 | December 31, 2024 | December 31, 2023 | ||||||||||||
| (unaudited) | (audited) | ||||||||||||||
| Interest income | $ | 9,468 | $ | 11,303 | $ | 44,283 | $ | 49,779 | |||||||
| Payment-in-kind interest income | 2,626 | 2,321 | 9,161 | 9,407 | |||||||||||
| Dividend income | 1,193 | 1,070 | 4,292 | 4,188 | |||||||||||
| Other income | 328 | 694 | 1,324 | (679 | ) | ||||||||||
| Prepayment gain (loss) | 173 | 109 | 532 | 553 | |||||||||||
| Accretion of discounts and amortization of premiums | 235 | 198 | 935 | 1,049 | |||||||||||
| Total investment income | $ | 14,023 | $ | 15,695 | $ | 60,527 | $ | 64,297 | |||||||
The composition of the Company’s interest expense and other debt financing expenses was as follows (in thousands):
| For the Quarters Ended | For the Years Ended | ||||||||||||||
| December 31, 2024 | September 30, 2024 | December 31, 2024 | December 31, 2023 | ||||||||||||
| (unaudited) | (audited) | ||||||||||||||
| Interest expense - revolving credit facility | $ | 3,227 | $ | 3,630 | $ | 14,380 | $ | 15,319 | |||||||
| Interest expense - 2026 Notes | 1,555 | 1,555 | 6,220 | 6,220 | |||||||||||
| Amortization of debt issuance costs | 331 | 332 | 1,317 | 1,308 | |||||||||||
| Total interest and other debt financing expenses | $ | 5,113 | $ | 5,517 | $ | 21,917 | $ | 22,847 | |||||||
About Monroe Capital Corporation
Monroe Capital Corporation is a publicly-traded specialty finance company that principally invests in senior, unitranche and junior secured debt and, to a lesser extent, unsecured debt and equity investments in middle-market companies. The Company’s investment objective is to maximize the total return to its stockholders in the form of current income and capital appreciation. The Company’s investment activities are managed by its investment adviser, Monroe Capital BDC Advisors, LLC, which is an investment adviser registered under the Investment Advisers Act of 1940, as amended, and an affiliate of Monroe Capital LLC. To learn more about Monroe Capital Corporation, visit www.monroebdc.com.
About Monroe Capital LLC
Monroe Capital LLC (including its subsidiaries and affiliates, together “Monroe”) is a premier asset management firm specializing in private credit markets across various strategies, including direct lending, technology finance, venture debt, alternative credit, structured credit, real estate and equity. Since 2004, the firm has been successfully providing capital solutions to clients in the U.S. and Canada. Monroe prides itself on being a value-added and user-friendly partner to business owners, management, and both private equity and independent sponsors. Monroe’s platform offers a wide variety of investment products for both institutional and high net worth investors with a focus on generating high quality “alpha” returns irrespective of business or economic cycles. The firm is headquartered in Chicago and maintains 11 offices throughout the United States, Asia and Australia.
Monroe has been recognized by both its peers and investors with various awards including Inc's 2024 Founder-Friendly Investors List; Private Debt Investor as the 2023 Lower Mid-Market Lender of the Decade, 2023 Lower Mid-Market Lender of the Year, 2023 CLO Manager of the Year, Americas; Global M&A Network as the 2023 Lower Mid-Markets Lender of the Year, U.S.A.; DealCatalyst as the 2022 Best CLO Manager of the Year; Korean Economic Daily as the 2022 Best Performance in Private Debt – Mid Cap; Creditflux as the 2021 Best U.S. Direct Lending Fund; and Pension Bridge as the 2020 Private Credit Strategy of the Year. For more information and important disclaimers, please visit www.monroecap.com.
Forward-Looking Statements
This press release may contain certain forward-looking statements. 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, and that the Company may or may not have considered; 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. Such statements speak only as of the time when made, and the Company undertakes no obligation to update any such statement now or in the future.
SOURCE: Monroe Capital Corporation
| Investor Contact: | Mick Solimene |
| Chief Financial Officer and Chief Investment Officer | |
| Monroe Capital Corporation | |
| (312) 598-8401 | |
| msolimene@monroecap.com | |
| Media Contact: | Daniel Abramson |
| BackBay Communications | |
| (857) 305-8441 | |
| daniel.abramson@backbaycommunications.com | |
FAQ
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