UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ________________ FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 814-00861 Fidus Investment Corporation (Exact Name of Registrant as Specified in its Charter) Maryland 27-50173 ...

FORM 10-Q (Mark One) UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ________________ ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 814-00861 Fidus Investment Corporation (Exact Name of Registrant as Specified in its Charter) Maryland 27-5017321 (S ...

Fidus Investment Corp (NASDAQ:FDUS) Q1 2023 Earnings Conference Call May 5, 2023 9:00 AM ET Company Participants Shelby Sherard - CFO, Chief Compliance Officer & Secretary Edward Ross - Chairman & CEO Conference Call Participants Mickey Schleien - Ladenburg Thalmann & Co. Robert Dodd - Raymond James & Associates Bryce Rowe - B. Riley Securities Erik Zwick - Hovde Group Operator Good day, and welcome to the Fidus Investment Corporation First Quarter 2023 Earnings Conference Call. [Operator Instructions]. And ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ________________ FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 814-00861 Fidus Investment Corporation (Exact Name of Registrant as Specified in its Charter) Maryland 27-5017321 ( ...

Financial Data and Key Metrics Changes - Adjusted net investment income (NII) for Q4 2022 was $12.6 million or $0.51 per share, an increase from $12 million or $0.49 per share in the previous year [9] - Total investment income for Q4 2022 was $27.5 million, a $2.5 million increase from Q3 2022, primarily due to a rise in interest income [27] - Total expenses for Q4 2022 were $15 million, which is $2.7 million higher than Q3 2022, driven by increased income taxes and professional fees [29] - The company ended Q4 2022 with a net asset value of $480.3 million or $19.43 per share [10] Business Line Data and Key Metrics Changes - The company invested $65.9 million in debt securities during the quarter, focusing on high-quality companies [14] - Debt investments increased from $549.8 million or 77% of the total as of December 31, 2021, to $740.5 million or 86% of the total as of December 31, 2022 [18] - The fair value of the portfolio at quarter end was $860.3 million, equal to 103.8% of cost [16] Market Data and Key Metrics Changes - The weighted average interest rate on outstanding debt was 4% as of December 31, 2022 [30] - The weighted average effective yield on debt investments increased to 13.8% as of December 31, 2022, from 12.9% at September 30, 2022 [40] Company Strategy and Development Direction - The company aims to preserve capital and generate attractive risk-adjusted returns for shareholders while focusing on high free cash flow and defensive growth companies [25] - The company plans to continue making equity co-investments alongside debt investments, indicating a strategy to enhance portfolio resilience [71] Management's Comments on Operating Environment and Future Outlook - Management noted that the credit environment was tougher in Q4 2022 compared to the previous year, but they continue to find attractive investment opportunities [8][25] - The company expects to grow its portfolio in 2023 despite macroeconomic uncertainties, including potential recession scenarios [25] Other Important Information - The company declared a total cash dividend of $0.66 per share for the first quarter of 2023, which includes a base dividend and supplemental dividends [13] - The company has approximately $179.3 million in total liquidity as of December 31, 2022 [35] Q&A Session Summary Question: What does the pipeline look like for 2023? - Management indicated that while Q4 was a low point for activity, there has been an uptick in January and they expect to continue growing the portfolio in Q2 2023 [44] Question: What is the target for balance sheet leverage? - The company aims for a long-term leverage target of 1:1, with comfort in a range from 0.75 to 1.25x [47] Question: How are portfolio companies managing current challenges? - Management stated that portfolio companies are raising prices, cutting costs, and managing operational challenges effectively [57] Question: Has competition in the market changed? - Management confirmed that competition has pulled back significantly compared to a year ago, particularly from banks and CLOs [65] Question: What is the expectation for realized gains in 2023? - Management expects incremental gains but at a more modest pace compared to previous years due to market conditions [68] Question: Are purchase price multiples contracting for new M&A deals? - Management noted that while multiples have come down slightly, they have not dropped significantly, and they continue to see opportunities for equity co-investments [70]

FIDUS T ME NT Investor Presentation NASDAQ: Common Stock – FDUS This presentation is neither an offer to sell nor a solicitation of an offer to buy Fidus securities. An offering is made only by an applicable prospectus. This presentation must be read in conjunction with a prospectus in order to fully understand all of the implications and risks of the offering of securities to which the prospectus relates. A copy of such a prospectus must be made available to you in connection with any offering. II. Investm ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K (Mark One) ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 814-00861 FIDUS INVESTMENT CORPORATION (Exact Name of Registrant as Specified in Its Charter) Maryland 27-5017321 (State or Other Jurisdicti ...

Financial Data and Key Metrics Changes - The portfolio generated a 27% increase in adjusted net investment income (NII), reaching $12.7 million or $0.51 per share, compared to the previous year [8][10] - Net realized gains amounted to $40 million or $1.64 per share from monetizing a significant portion of the equity portfolio [8] - The net asset value (NAV) was $474.4 million or $19.41 per share at quarter end, with a modest increase to $19.84 per share after adjusting for early dividend declaration [10][12] Business Line Data and Key Metrics Changes - Total investment income for the quarter was $25 million, a $3.8 million increase from the previous quarter, driven by higher interest income and fee income [36] - Debt investments reached $747.3 million, reflecting a successful strategy in building the debt portfolio [26] - The weighted average effective yield on debt investments increased to 12.9% from 11.9% in the previous quarter [40] Market Data and Key Metrics Changes - The fair value of the total investment portfolio reached $856.9 million, with a record level equal to 103.6% of cost [26][39] - Approximately 72% of the debt portfolio has variable rates with interest rate floors, indicating a strategic positioning in the current interest rate environment [40] Company Strategy and Development Direction - The company continues to focus on redeploying proceeds from equity realizations into income-producing assets, adhering to a strategy of investing in high-quality companies [9][34] - The Board has approved a dividend policy for 2023 that includes a base dividend, supplemental dividend, and a special cash dividend, aiming to restore the pre-COVID base dividend to $0.39 per share [17][16] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about opportunities to grow the debt portfolio despite a slowing deal activity in the lower middle market [34] - The majority of portfolio companies are performing reasonably well, although some are facing challenges due to inflation and supply chain issues [29][48] Other Important Information - The company plans to make a deemed distribution for 2022, with the amount depending on final results, to maintain a certain level of spillover income [18][61] - The company has a liquidity position of approximately $167.4 million, which includes cash and available credit [41] Q&A Session Summary Question: What might an optimized spillover level look like? - Management indicated a long-term goal to maintain a spillover level close to two to three quarters worth of dividends [43][44] Question: What metrics led to some level of depreciation in the debt portfolio? - Management noted that over 90% of portfolio companies are performing well, but some are experiencing stress due to supply chain issues and inflation [46][48] Question: How has the underwriting process changed in the current environment? - Management stated that while the environment is tougher, they are still finding good investment opportunities and are being cautious in their approach [54] Question: What are the current interest coverage levels on the portfolio? - Interest coverage levels have improved, with an average EBITDA to interest coverage calculation at 3.4 times, indicating a strong position [63][64] Question: How has the market environment changed for equity realizations? - Management noted a significant reduction in M&A activity compared to the previous year, but opportunities still exist in the fragmented lower middle market [68][71] Question: Are there more opportunities in second liens due to market dislocation? - Management confirmed they are still looking for high-quality junior debt opportunities but have not seen significant interest in second liens recently [75][76]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ________________ FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 814-00861 Fidus Investment Corporation (Exact Name of Registrant as Specified in its Charter) Maryland 27-50173 ...

Start Time: 09:00 January 1, 0000 9:39 AM ET Fidus Investment (NASDAQ:FDUS) Q2 2022 Earnings Conference Call August 05, 2022, 09:00 AM ET Company Participants Ed Ross - Chairman and CEO Shelby Sherard - CFO, Chief Compliance Officer and Secretary Jody Burfening - IR Conference Call Participants Robert Dodd - Raymond James Ryan Lynch - Keefe, Bruyette & Woods Mickey Schleien - Ladenburg Operator Good day, and welcome to the Fidus Second Quarter 2022 Earnings Call. Today's call is being recorded. I would now ...