SLR Investment (SLRC) - 2024 Q4 - Annual Results

Financial Performance - Net investment income for Q4 2024 was $23.8 million, or$0.44 per share, with a declared quarterly distribution of $0.41 per share[2][5]. - For the full year 2024, net investment income totaled$96.3 million, or $1.77 per share, compared to$92.1 million, or $1.69 per share in 2023[6][26]. - The company generated gross investment income of$232.4 million for the fiscal year 2024, an increase from $229.3 million in 2023[23]. - Total investment income for the fiscal year 2024 was$232.4 million, slightly up from $229.3 million in 2023[41]. - The company reported a net investment income of$96.3 million for the fiscal year 2024, compared to $92.1 million in 2023[41]. - Earnings per average share for the fiscal year ended December 31, 2024, were$1.76, up from $1.40 in 2023, reflecting a 25.7$18.20 per share, unchanged from the previous quarter[3][5]. - The investment portfolio fair value was $2.0 billion, with a comprehensive investment portfolio fair value of$3.1 billion[5]. - The comprehensive investment portfolio was diversified across approximately 890 unique issuers, with 98.2% invested in senior secured loans[12][18]. - The weighted average asset yield for the comprehensive investment portfolio was 12.1%[14]. - As of December 31, 2024, 99.6% of the portfolio was performing on a fair value basis, with only one investment on non-accrual[18]. Expenses and Commitments - Total net expenses decreased to $136.1 million in 2024 from$137.2 million in 2023, primarily due to lower interest expenses[24]. - As of December 31, 2024, the company had over $900 million of available capital in aggregate, including anticipated borrowing capacity[32]. - The company had unfunded commitments of approximately$167.2 million as of December 31, 2024[33]. Debt and Equity - As of December 31, 2024, the company had $507 million drawn on$970 million of total commitments available on its revolving credit facilities[29]. - The company's net debt-to-equity ratio improved to 1.03x as of December 31, 2024, down from 1.19x as of December 31, 2023[31]. Investment Activity - During Q4 2024, the company made investments totaling $338.4 million and had repayments of$442.7 million, resulting in a net portfolio activity of -$104.3 million[6][8]. - The net realized and unrealized loss for the fiscal year ended December 31, 2024, was$0.6 million, significantly improved from a loss of $15.7 million in 2023[27]. Distribution - The company declared a quarterly distribution of$0.41 per share, payable on March 28, 2025[34]. - For the fiscal year ended December 31, 2024, the net increase in net assets resulting from operations was $95.8 million, compared to$76.4 million in 2023, representing a 25.5% increase[28].