PhenixFIN Corporation Announces Fiscal First Quarter 2025 Financial Results
PhenixFIN (PFX) has reported its fiscal first quarter 2025 financial results with several key achievements. The company posted total investment income of $6.2 million and net investment income of $1.6 million. The Net Asset Value (NAV) reached $162.8 million, or $80.59 per share as of December 31, 2024.
Notable highlights include a weighted average yield of 13.3% on debt and income-producing investments, and the completion of a merger with The National Security Group (NSG) on October 1, 2024. The Board has declared a special dividend of $1.43 per share, payable on February 18, 2025.
The investment portfolio's fair value totaled $300.1 million across 43 portfolio companies, with three investments on non-accrual status valued at $1.5 million. The company's liquidity position includes $7.2 million in cash, $59.2 million in unsecured notes due 2028, and $84.0 million outstanding under the Credit Facility.
PhenixFIN (PFX) ha riportato i risultati finanziari del primo trimestre fiscale 2025, evidenziando diversi risultati chiave. L'azienda ha registrato un reddito totale da investimenti di $6,2 milioni e un reddito netto da investimenti di $1,6 milioni. Il Valore Netto degli Attivi (NAV) ha raggiunto $162,8 milioni, ovvero $80,59 per azione al 31 dicembre 2024.
Tra i punti salienti si segnala un rendimento medio ponderato del 13,3% su debito e investimenti produttivi di reddito, e il completamento di una fusione con The National Security Group (NSG) il 1 ottobre 2024. Il Consiglio ha dichiarato un dividendo straordinario di $1,43 per azione, pagabile il 18 febbraio 2025.
Il valore equo del portafoglio di investimenti è ammontato a $300,1 milioni su 43 società portafoglio, con tre investimenti in stato di non accumulo valutati a $1,5 milioni. La posizione di liquidità dell'azienda include $7,2 milioni in contante, $59,2 milioni in note non garantite in scadenza nel 2028 e $84,0 milioni in sospeso sotto il Credito.
PhenixFIN (PFX) ha informado sus resultados financieros del primer trimestre fiscal de 2025 con varios logros clave. La compañía reportó un ingreso total por inversiones de $6.2 millones y un ingreso neto por inversiones de $1.6 millones. El Valor Neto de los Activos (NAV) alcanzó $162.8 millones, o $80.59 por acción al 31 de diciembre de 2024.
Los puntos destacados incluyen un rendimiento promedio ponderado del 13.3% en inversiones de deuda y generadoras de ingresos, y la finalización de una fusión con The National Security Group (NSG) el 1 de octubre de 2024. La Junta ha declarado un dividendo especial de $1.43 por acción, pagadero el 18 de febrero de 2025.
El valor razonable de la cartera de inversiones totalizó $300.1 millones en 43 empresas del portafolio, con tres inversiones en estado de no acumulación valoradas en $1.5 millones. La posición de liquidez de la compañía incluye $7.2 millones en efectivo, $59.2 millones en notas no garantizadas que vencen en 2028, y $84.0 millones pendientes bajo la Línea de Crédito.
PhenixFIN (PFX)는 2025 회계 첫 분기 재무 결과를 발표하며 몇 가지 주요 성과를 소개했습니다. 회사는 총 투자 수익 $6.2 백만과 순 투자 수익 $1.6 백만을 기록했습니다. 순자산가치(NAV)는 2024년 12월 31일 기준으로 $162.8 백만, 즉 주당 $80.59에 도달했습니다.
주요 내용으로는 부채 및 소득 생산 투자의 가중 평균 수익률이 13.3%에 달하며, 2024년 10월 1일에 The National Security Group (NSG)와의 합병이 완료되었습니다. 이사회는 $1.43 주당 특별 배당금을 선언했으며, 2025년 2월 18일 지급될 예정입니다.
투자 포트폴리오의 공정 가치는 43개 포트폴리오 기업에서 총 $300.1 백만에 달하며, 3개의 비관계 상태 투자 가치는 $1.5 백만입니다. 이 회사의 유동성 상황에는 $7.2 백만의 현금, 2028년 만기 미지급 무담보 채권 $59.2 백만, 그리고 신용 시설 하에 미지급된 $84.0 백만을 포함합니다.
PhenixFIN (PFX) a publié ses résultats financiers pour le premier trimestre fiscal 2025 avec plusieurs réalisations clés. L'entreprise a déclaré un revenu total d'investissement de $6,2 millions et un revenu net d'investissement de $1,6 million. La Valeur Nette d'Actif (NAV) a atteint $162,8 millions, soit 80,59 $ par action au 31 décembre 2024.
Parmi les points saillants, on note un rendement moyen pondéré de 13,3 % sur la dette et les investissements générateurs de revenus, ainsi que l'achèvement d'une fusion avec The National Security Group (NSG) le 1er octobre 2024. Le Conseil a déclaré un dividende spécial de $1,43 par action, payable le 18 février 2025.
La juste valeur du portefeuille d'investissement s'est élevée à $300,1 millions à travers 43 entreprises de portefeuille, avec trois investissements en statut de non-accumulation d'une valeur de 1,5 million de dollars. La position de liquidité de l'entreprise comprend 7,2 millions de dollars en espèces, 59,2 millions de dollars en obligations non garanties échouant en 2028, et 84,0 millions de dollars dus dans le cadre de la facilité de crédit.
PhenixFIN (PFX) hat seine finanziellen Ergebnisse für das erste Quartal des Geschäftsjahres 2025 veröffentlicht, mit mehreren wichtigen Erfolgen. Das Unternehmen erzielte ein Gesamteinkommen aus Investitionen von $6,2 Millionen und ein Nettoinvestitionseinkommen von $1,6 Millionen. Der Nettovermögenswert (NAV) erreichte bis zum 31. Dezember 2024 $162,8 Millionen, bzw. $80,59 pro Aktie.
Zu den bemerkenswerten Höhepunkten gehören eine gewichtete durchschnittliche Rendite von 13,3 % auf Schulden und einkommensproduzierenden Investitionen sowie der Abschluss einer Fusion mit The National Security Group (NSG) am 1. Oktober 2024. Der Vorstand hat eine Sonderdividende von $1,43 pro Aktie erklärt, die am 18. Februar 2025 zahlbar ist.
Der beizulegende Zeitwert des Anlageportfolios belief sich auf insgesamt $300,1 Millionen in 43 Portfoliounternehmen, mit drei Investitionen im Zustand der Nichtansprachbarkeit mit einem Wert von $1,5 Millionen. Die Liquiditätslage des Unternehmens umfasst $7,2 Millionen in bar, $59,2 Millionen in unbesicherten Anleihen mit Fälligkeit 2028 und $84,0 Millionen ausstehend unter der Kreditfazilität.
- Total investment income of $6.2 million with $1.6 million net investment income
- Strong weighted average yield of 13.3% on debt investments
- Special dividend declaration of $1.43 per share
- Net realized gain of $1.2 million
- Successful completion of NSG merger
- Net unrealized loss of $0.3 million
- Three portfolio companies on non-accrual status worth $1.5 million
- Significant debt exposure with $143.2 million in combined notes and credit facility
Insights
PhenixFIN's Q1 2025 results reveal a strategically positioned BDC with multiple growth catalysts. The weighted average yield of
The merger with NSG represents a significant strategic expansion into the insurance sector, potentially providing stable cash flows and diversification benefits. The special dividend of
Portfolio quality metrics remain solid with only
The company's leverage profile appears manageable with
NAV per share
NEW YORK, Feb. 07, 2025 (GLOBE NEWSWIRE) -- PhenixFIN Corporation (NASDAQ: PFX, PFXNZ) (the "Company"), a publicly traded business development company, today announced its financial results for the fiscal first quarter for its year ending September 30, 2025.
Highlights
- First quarter total investment income of
$6.2 million ; net investment income of$1.6 million - Net asset value (NAV) of
$162.8 million , or$80.59 per share as of December 31, 2024 - Weighted average yield was
13.3% on debt and other income producing investments - On October 1, 2024, the Company completed the merger and reorganization of The National Security Group, Inc. (“NSG”) an Alabama based insurance holding company
- On February 6, 2025, the Board declared a special dividend of
$1.43 per share to be paid on February 18, 2025, to stockholders of record as of February 17, 2025.
David Lorber, Chief Executive Officer of the Company, stated:
“We have had a great start to fiscal year 2025 as we continue to remain focused on executing our strategic priorities which include growing our platforms, pursuing compelling investment opportunities and increasing NAV per share.”
Selected First Quarter 2025 Financial Results for the Quarter Ended December 31, 2024:
Total investment income was
Total net expenses were
The Company recorded a net realized gain of
Portfolio and Investment Activities for the Quarter Ended December 31, 2024:
The fair value of the Company's investment portfolio totaled
The Company had certain investments in 3 portfolio companies on non-accrual status with a fair market value of
Liquidity and Capital Resources
As of December 31, 2024, the Company had
ABOUT PHENIXFIN CORPORATION
PhenixFIN Corporation is a non-diversified, internally managed closed-end management investment company incorporated in Delaware that has elected to be regulated as a business development company under the Investment Company Act of 1940, as amended. We completed our initial public offering and commenced operations on January 20, 2011. The Company has elected, and intends to qualify annually, to be treated, for U.S. federal income tax purposes, as a regulated investment company under Subchapter M of the Internal Revenue Code of 1986, as amended. Effective January 1, 2021, the Company operates under an internalized management structure.
SAFE HARBOR STATEMENT AND OTHER DISCLOSURES
This press release contains “forward-looking” statements. Such forward-looking statements reflect current views with respect to future events and financial performance, and the Company may make related oral forward-looking statements on or following the date hereof. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions. Certain factors could cause actual results and conditions to differ materially from those projected in these forward-looking statements, including among other things, PhenixFIN’s ability to execute on its strategic initiatives, deliver value to shareholders, increase investment activity, increase net investment income, implement its investment strategy and achieve its investment objective, source and capitalize on investment opportunities, grow its net asset value per share and perform well in the prevailing market environment, the ability of our portfolio companies, including National Security Group, Inc. to perform well and generate income and other factors that are enumerated in the Company’s periodic filings with the Securities and Exchange Commission. PhenixFIN Corporation disclaims and does not undertake any obligation to update or revise any forward-looking statement in this press release.
Past performance is not a guarantee of future results. The press release contains unaudited financial results. For ease of review, we have excluded the word "approximately" when rounding the results. This press release is for informational purposes only and is not an offer to purchase or a solicitation of an offer to sell shares of PhenixFIN Corporation’s common stock. There can be no assurance that PhenixFIN Corporation will achieve its investment objective.
For PhenixFIN investor relations, please call 212-859-0390. For media inquiries, please contact info@phenixfc.com.
| PHENIXFIN CORPORATION Consolidated Statements of Assets and Liabilities | ||||||||
| December 31, 2024 (Unaudited) | September 30, 2024 | |||||||
| Assets: | ||||||||
| Investments at fair value | ||||||||
| Non-controlled, non-affiliated investments (amortized cost of | $ | 160,343,098 | $ | 142,233,426 | ||||
| Affiliated investments (amortized cost of | 13,861,599 | 14,750,785 | ||||||
| Controlled investments (amortized cost of | 125,889,697 | 70,931,647 | ||||||
| Total Investments at fair value | 300,094,394 | 227,915,858 | ||||||
| Cash and cash equivalents | 7,187,110 | 67,571,559 | ||||||
| Receivables: | ||||||||
| Interest receivable | 1,313,520 | 1,313,598 | ||||||
| Other receivable | 16,640 | 65,838 | ||||||
| Dividends receivable | 105,804 | 23,468 | ||||||
| Due from Affiliate | 1,040,512 | 90,500 | ||||||
| Deferred tax asset | 887,099 | 887,099 | ||||||
| Deferred financing costs | 625,323 | 760,680 | ||||||
| Other assets | 514,630 | 1,066,323 | ||||||
| Prepaid share repurchase | 101,115 | 101,115 | ||||||
| Receivable for investments sold | 41,897 | 2,955,775 | ||||||
| Total Assets | $ | 311,928,044 | $ | 302,751,813 | ||||
| Liabilities: | ||||||||
| Credit facility and notes payable (net of debt issuance costs of | $ | 141,743,682 | $ | 135,723,636 | ||||
| Payable for investments purchased | 3,688,247 | - | ||||||
| Accounts payable and accrued expenses | 2,391,430 | 5,570,150 | ||||||
| Interest and fees payable | 1,029,334 | 768,043 | ||||||
| Other liabilities | 256,426 | 294,063 | ||||||
| Due to Affiliate | 46,995 | 88,148 | ||||||
| Total Liabilities | 149,156,114 | 142,444,040 | ||||||
| Commitments and Contingencies (see Note 8) | ||||||||
| Net Assets: | ||||||||
| Common Shares, | 2,020 | 2,020 | ||||||
| Capital in excess of par value | 704,909,588 | 704,909,588 | ||||||
| Total distributable earnings (loss) | (542,139,678 | ) | (544,603,835 | ) | ||||
| Total Net Assets | 162,771,930 | 160,307,773 | ||||||
| Total Liabilities and Net Assets | $ | 311,928,044 | $ | 302,751,813 | ||||
| Net Asset Value Per Common Share | $ | 80.59 | $ | 79.37 | ||||
| PHENIXFIN CORPORATION Consolidated Statements of Operations (Unaudited) | ||||||||
| For the Three Months Ended December 31, | ||||||||
| 2024 | 2023 | |||||||
| Interest Income: | ||||||||
| Interest from investments | ||||||||
| Non-controlled, non-affiliated investments: | ||||||||
| Cash | $ | 2,824,594 | $ | 2,682,143 | ||||
| Payment in-kind | 354,681 | 90,674 | ||||||
| Affiliated investments: | ||||||||
| Cash | - | 455,692 | ||||||
| Payment in-kind | - | - | ||||||
| Controlled investments: | ||||||||
| Cash | 588,195 | 286,238 | ||||||
| Payment in-kind | - | 149,967 | ||||||
| Total interest income | 3,767,470 | 3,664,714 | ||||||
| Dividend income | ||||||||
| Non-controlled, non-affiliated investments | 596,298 | 665,526 | ||||||
| Affiliated investments | 142,495 | - | ||||||
| Controlled investments | 1,399,350 | 1,348,200 | ||||||
| Total dividend income | 2,138,143 | 2,013,726 | ||||||
| Interest from cash and cash equivalents | 227,032 | 41,108 | ||||||
| Fee income (see Note 9) | 11,064 | 2,108 | ||||||
| Other income | 72,774 | 22 | ||||||
| Total Investment Income | 6,216,483 | 5,721,678 | ||||||
| Expenses: | ||||||||
| Interest and financing expenses | 2,545,811 | 1,542,061 | ||||||
| Salaries and benefits | 1,028,617 | 1,424,992 | ||||||
| Professional fees, net | 418,013 | 357,554 | ||||||
| Directors fees | 204,000 | 187,500 | ||||||
| Insurance expenses | 88,421 | 97,756 | ||||||
| Administrator expenses (see Note 6) | 84,355 | 77,852 | ||||||
| General and administrative expenses | 221,793 | 325,061 | ||||||
| Total expenses | 4,591,010 | 4,012,776 | ||||||
| Net Investment Income | 1,625,473 | 1,708,902 | ||||||
| Realized and unrealized gains (losses) on investments | ||||||||
| Net realized gains (losses): | ||||||||
| Non-controlled, non-affiliated investments | 1,168,670 | 229,804 | ||||||
| Affiliated investments | - | - | ||||||
| Controlled investments | - | - | ||||||
| Total net realized gains (losses) | 1,168,670 | 229,804 | ||||||
| Net change in unrealized gains (losses): | ||||||||
| Non-controlled, non-affiliated investments | 808,538 | 1,364,243 | ||||||
| Affiliated investments | (889,186 | ) | 2,431,263 | |||||
| Controlled investments | (249,338 | ) | (1,200,373 | ) | ||||
| Total net change in unrealized gains (losses) | (329,986 | ) | 2,595,133 | |||||
| Deferred tax benefit (expense) | - | - | ||||||
| Total realized and unrealized gains (losses) | 838,684 | 2,824,937 | ||||||
| Net Increase (Decrease) in Net Assets Resulting from Operations | $ | 2,464,157 | $ | 4,533,839 | ||||
| Weighted average basic and diluted earnings per common share | $ | 1.22 | $ | 2.19 | ||||
| Weighted average common shares outstanding - basic and diluted (see Note 11) | 2,019,778 | 2,072,694 | ||||||
FAQ
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