Company Overview - MidCap Financial Investment (MFIC) shares increased by 11.8% to close at $11.70, following a notable trading volume compared to typical sessions, despite a 15.7% loss over the past four weeks [1] - The company benefits from a strong brand reputation, diversified product portfolio, and established customer relationships, which support premium pricing and customer loyalty [2] Financial Performance - MidCap Financial is expected to report quarterly earnings of $0.39 per share, reflecting an 11.4% decrease year-over-year, while revenues are projected to be $84.27 million, representing a 23.3% increase from the previous year [3] - The consensus EPS estimate for the quarter has remained unchanged over the last 30 days, indicating that stock price movements may not sustain without trends in earnings estimate revisions [4] Industry Context - MidCap Financial is part of the Zacks Financial - Miscellaneous Services industry, where Atlanticus Holdings Corporation (ATLC) also operates, having seen a 13.2% increase in its stock price recently [4] - Atlanticus has a consensus EPS estimate that has increased by 20% over the past month, indicating a positive outlook compared to the previous year [5]

NEW YORK, April 03, 2025 (GLOBE NEWSWIRE) -- MidCap Financial Investment Corporation (NASDAQ: MFIC) (the “Company”) announced today that it will report results for the quarter ended March 31, 2025, after the closing of the Nasdaq Global Select Market on Monday, May 12, 2025. The Company will also host a conference call on Tuesday, May 13, 2025, at 8:30 a.m. Eastern Time. All interested parties are welcome to participate in the conference call by dialing (800) 225-9448 approximately 5-10 minutes prior to the ...

Core Viewpoint - MidCap Financial Investment Corporation (NASDAQ: MFIC) reported results that align with expectations for the December quarter, exceeding the paid dividend while maintaining a low leverage ratio of 1.18 [1]. Financial Performance - The company’s results for the December quarter were in line with market expectations, indicating stable financial performance [1]. - The leverage ratio of 1.18 suggests a conservative approach to debt management, which may enhance financial stability [1]. Dividend Safety - During the conference call, concerns regarding the safety of the dividend payout were addressed, indicating that the current earnings are sufficient to cover the dividend [1].

Financial Data and Key Metrics Changes - Net investment income (NII) per share for Q4 2024 was $0.40, with a full-year NII of $1.71, reflecting an annualized return on equity (ROE) of 10.5% for the quarter and 11.2% for the year [8][9] - GAAP net income per share was $0.26 for Q4 and $1.27 for the full year, with NAV per share at $14.98, down $0.12 or approximately 0.8% [9][10] - Total investment income for December was approximately $82.2 million, flat compared to the prior quarter, with net expenses increasing to $45.1 million [44][45] Business Line Data and Key Metrics Changes - New commitments in Q4 totaled $255 million, with a full-year total of approximately $1.06 billion [10][26] - The weighted average spread on new commitments was 546 basis points, up 13 basis points from the previous quarter, while net leverage on new commitments decreased to 4.3 times [28] - Direct origination represented 90% of the total portfolio, up from 88% last quarter, with 98% of the direct origination portfolio being first lien [31][32] Market Data and Key Metrics Changes - MidCap Financial closed approximately $6.6 billion of new commitments during Q4, contributing to a total of $21.3 billion for the year [13][14] - The overall credit quality of the direct origination portfolio remains stable, with a weighted average interest coverage ratio improving to 2.1 times [37][39] - The probability of a recession has declined significantly, with encouraging signs for an increase in sponsor-related M&A activity [22] Company Strategy and Development Direction - The company aims to gradually grow the portfolio and reach a target leverage of approximately 1.4 times in the next couple of quarters [11][50] - The strategy includes reducing investment in the aircraft leasing and servicing business, with a focus on selling assets acquired through mergers [16][20] - The company plans to leverage its affiliation with MidCap Financial to enhance deal sourcing and capitalize on attractive investment opportunities in the middle market [15][20] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the economic backdrop, citing strong consumer spending and capital goods investment, while acknowledging potential near-term impacts from tariffs and government layoffs [21][22] - The company is optimistic about the stabilization of interest rates and the potential for increased M&A activity in the direct lending market [22][23] - Management remains comfortable with the sustainability of the dividend, considering the leverage profile and expected origination pace [88][89] Other Important Information - The company reported a net loss of approximately $13 million for the quarter, with 60% of that loss attributed to positions on non-accrual status at the beginning of the quarter [49] - The company completed a $529 million CLO, which is expected to be an important source of debt financing going forward [51][52] Q&A Session Summary Question: Impact of post-quarter insurance recovery for Merx - Management indicated that recoveries are approximately in line with valuations, leading to a positive outlook for resolution of claims [57] Question: Potential for better recoveries if conditions in Russia and Ukraine improve - Management clarified that recoveries are locked in and are primarily tied to the insurance process, independent of geopolitical conditions [65][66] Question: Increase in spreads and leverage dynamics - Management noted that the increase in spreads was due to commitments to existing borrowers, rather than a general widening of spreads in the market [68][69] Question: Update on non-accrual positions - Management confirmed that there are four non-accruals remaining from the legacy CEF portfolio, with ongoing restructuring efforts [81] Question: Sustainability of the current dividend - Management expressed confidence in the sustainability of the dividend, supported by the current leverage profile and expected origination pace [88][89]

MidCap Financial Investment (MFIC) came out with quarterly earnings of $0.40 per share, missing the Zacks Consensus Estimate of $0.41 per share. This compares to earnings of $0.46 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -2.44%. A quarter ago, it was expected that this investment company would post earnings of $0.43 per share when it actually produced earnings of $0.44, delivering a surprise of 2.33%.Over the last four ...

Exhibit 99.1 MidCap Financial Investment Corporation Reports Financial Results for the Quarter and Fiscal Year Ended December 31, 2024 Results for the Quarter and Fiscal Year Ended December 31, 2024 and Other Recent Highlights: New York, NY — February 25, 2025 — MidCap Financial Investment Corporation (NASDAQ: MFIC) or the "Company," today announced financial results for its quarter and fiscal year ended December 31, 2024. The Company's net investment income was $0.40 per share for the quarter ended Decembe ...

Financial Performance and Expenses - Administrative expenses for the fiscal year ended December 31, 2024, were $4.1 million, a decrease from $5.6 million in 2023 and an increase from $4 million in the nine months ended December 31, 2022[99]. - The company’s net investment income is influenced by the difference between borrowing rates and investment yields, with significant changes in market interest rates posing material risks[141]. - The company must distribute at least 90% of its investment company taxable income to maintain its RIC status, which includes ordinary income and net short-term capital gains[162]. - The company may distribute taxable dividends in cash and shares, potentially leading to tax liabilities exceeding cash received by stockholders[220]. - The company is required to achieve annual returns on its total assets of at least 3.51% to cover annual interest payments on its outstanding indebtedness[179]. Capital Structure and Debt - As of December 31, 2024, the company had approximately $970.1 million of outstanding borrowings under its senior secured credit facility and a total of $1,757.1 million in aggregate principal amount of indebtedness[179][181]. - The weighted average stated interest rate on the company's outstanding indebtedness as of December 31, 2024, was 6.38%[179]. - The asset coverage ratio must be at least 150% after borrowing, allowing the company to raise $200 for every $100 of net assets[168][178]. - If the asset coverage ratio declines below 150%, the company may be required to sell investments at disadvantageous prices[168]. - The company may seek to securitize loans to generate cash for new investments, but failure to do so could limit growth and adversely affect earnings[172]. Market and Economic Conditions - The current capital market environment is characterized by volatility, which may adversely affect the company's ability to raise or access debt capital[107]. - Significant disruptions in capital markets could negatively affect the valuations of the company's investments, potentially leading to liquidity challenges[109]. - Inflation and supply chain risks have negatively impacted the business and financial condition of portfolio companies, particularly in emerging economies[122]. - The ongoing armed conflicts, including the Russian invasion of Ukraine, may disrupt global markets and adversely affect investment performance[125]. - Economic downturns could impair portfolio companies' ability to repay loans, leading to increased non-performing assets and decreased portfolio value[238]. Interest Rate Risks - The company has experienced higher rates for debt capital raised over the last year due to the prevailing interest rate environment, impacting future financing costs[108]. - Changes in interest rates pose financial market risks, potentially impacting investment income and the credit quality of borrowers[118]. - An increase in interest rates could decrease the value of fixed interest investments and increase interest expenses, negatively impacting net income[119]. - Rising interest rates may increase the cost of debt for underlying portfolio companies, adversely impacting their financial performance[121]. - Interest rate fluctuations may negatively impact the value of the Company's portfolio investments, potentially affecting its financial condition and results of operations[140]. Regulatory and Compliance Issues - The company is subject to the Sarbanes-Oxley Act, which requires ongoing compliance monitoring and review of policies and procedures[103]. - Changes in U.S. federal income tax laws could materially affect the Company and its stockholders[147]. - The company is subject to changing regulations that could significantly affect operations and profitability[216]. - AGM has established information barriers to manage conflicts of interest, but these barriers may restrict advantageous investment opportunities[201]. - Cybersecurity risks pose a threat to the company's operations and those of its portfolio companies, potentially leading to operational disruptions[222]. Investment Strategy and Risks - The company primarily invests in privately-held companies, which presents challenges such as limited available information and reliance on key personnel[250]. - The company intends to invest primarily in senior debt securities, but portfolio companies may incur debt that ranks equally or senior to its investments, increasing risk[252]. - The incentive fee structure may encourage the company to make riskier investments, potentially leading to higher investment losses during economic downturns[254]. - The company may invest in foreign securities, exposing it to additional risks such as political instability and less available information compared to U.S. investments[258]. - The company faces competition from various entities, including public and private funds, which may have greater financial resources and lower costs of funds[157]. Cybersecurity and Technology Risks - Cybersecurity risks are increasing, with potential adverse effects on operations and financial results due to unauthorized access or data breaches[111]. - The Company is subject to risks associated with artificial intelligence, particularly regarding the use of machine learning technology by third-party service providers[149]. - The company's operations are heavily reliant on information systems, and any failure could adversely affect business performance and stock price[227]. - Cyber security has become a regulatory priority, and non-compliance could result in financial losses and reputational damage[224]. - The company faces significant risks from cyber security failures, which could lead to financial losses and operational disruptions[224]. Portfolio Management and Investment Opportunities - The allocation of investment opportunities among Apollo-advised funds may not always favor the company, potentially limiting desired portfolio structuring[205]. - The company may face challenges in making follow-on investments, which could impair the value of its portfolio[246]. - The company is restricted from entering into certain transactions with affiliates without prior approval, which may limit investment opportunities[197]. - The performance of the CLO Issuers will depend on the analytical and managerial expertise of the Company's investment professionals, with limited prior experience managing CLOs[289]. - The company may incur losses if required to dispose of a portion of the CLO Issuers' portfolio at inopportune times to satisfy obligations of the holders of the CLO Notes[291].

Financial Results - The company's net investment income for the quarter ended December 31, 2024, was $0.40 per share, a decrease from $0.44 per share for the quarter ended September 30, 2024 [1] - The net asset value (NAV) per share as of December 31, 2024, was $14.98, down from $15.10 as of September 30, 2024, reflecting a decrease of 0.8% [1][6] - Total assets as of December 31, 2024, were $3.19 billion, compared to $3.22 billion as of September 30, 2024 [7] Dividend Declaration - On February 21, 2025, the Board declared a dividend of $0.38 per share, payable on March 27, 2025, to stockholders of record as of March 11, 2025 [2][6] Investment Activity - New investment commitments made during the quarter totaled $255 million, while gross fundings, excluding revolver fundings, were $248 million [6][8] - Direct origination revolver fundings totaled $55 million, and repayments totaled $56 million during the quarter [4] Portfolio Composition - As of December 31, 2024, the investment portfolio's fair value was $3.01 billion, with 93% in secured debt [7][19] - The weighted average yield on first lien secured debt was 10.8% as of December 31, 2024 [19] Debt and Leverage - The company's net leverage ratio was 1.16x as of December 31, 2024 [6][7] - Outstanding debt obligations totaled $1.757 billion, with a significant portion under a multi-currency revolving credit facility [15] CLO Transaction - On February 24, 2025, the company completed a $529.6 million CLO transaction, which added $399.0 million of secured debt capital [6][16] - The CLO transaction is backed by a diversified portfolio of middle-market commercial loans [16][17] Management Commentary - The CEO noted that the company generated solid net investment income despite lower base rates and observed stability in certain credit metrics [3] - The CFO highlighted the benefits from the expertise in CLO management and structuring provided by MidCap Financial and Apollo Global [3]

Results for the Quarter and Fiscal Year Ended December 31, 2024 and Other Recent Highlights: Net investment income per share for the quarter was $0.40 Net asset value per share as of the end of the quarter was $14.98, compared to $15.10 as of September 30, 2024, a decrease of 0.8% New investment commitments made during the quarter totaled $255 million(1)Gross fundings, excluding revolver fundings(2), totaled $248 million for the quarterNet repayments, including revolvers(2), totaled $6 million for the quart ...

Core Points - MidCap Financial Investment Corporation will report its results for the quarter and fiscal year ended December 31, 2024, on February 25, 2025 [1] - A conference call will be held on February 26, 2025, at 8:30 a.m. Eastern Time for interested parties to discuss the results [2] Company Overview - MidCap Financial Investment Corporation is a closed-end, externally managed, diversified management investment company that qualifies as a business development company under the Investment Company Act of 1940 [3] - The company is externally managed by Apollo Investment Management, L.P., an affiliate of Apollo Global Management, Inc., focusing on generating current income and long-term capital appreciation [3] - The company primarily invests in first lien senior secured loans to privately held U.S. middle-market companies, defined as those with less than $75 million in EBITDA [3]