Financial Performance - Net investment income increased to $0.27 per common share for Q3 2024, up from $0.26 in Q2 2024[2] - Net loss on investments was $0.15 per common share for Q3 2024, compared to a net gain of $0.51 per common share in Q2 2024[4] - Total investment income decreased to $10.9 million in Q3 2024 from $11.2 million in Q2 2024, primarily due to a decrease in interest income[8] - Total investment income for the three months ended September 30, 2023, was $10,918,000, a decrease of 25.0% from $14,651,000 in the same period last year[17] - Net investment income for the nine months ended September 30, 2023, was $12,636,000, down 10.5% from $15,463,000 in the prior year[17] - Net realized loss on investments for the three months ended September 30, 2023, was $(11,116,000), compared to a gain of $117,000 in the same period last year[17] - Net unrealized appreciation for the three months ended September 30, 2023, was $9,201,000, compared to a depreciation of $(3,512,000) in the same period last year[17] Asset and Investment Metrics - Net asset value per common share decreased to $11.29 as of September 30, 2024, down from $11.51 as of June 30, 2024[2] - Total investments at fair value were $394.7 million as of September 30, 2024, compared to $398.2 million as of June 30, 2024[4] - The weighted-average performing income yield increased to 13.6% in Q3 2024 from 13.4% in Q2 2024[5] Expenses and Distributions - Total expenses decreased by $0.4 million to $7.3 million in Q3 2024 compared to Q2 2024[9] - Total expenses for the three months ended September 30, 2023, were $7,315,000, a decrease of 21.0% from $9,261,000 in the same period last year[17] - The company declared a distribution of $0.34 per common share for Q4 2024, payable on December 31, 2024[3] - Distributions declared per common share remained stable at $0.34 for both the current and prior year periods[17] Cash and Credit Facilities - As of September 30, 2024, the company had $20.3 million in cash and no outstanding balance under its senior secured revolving credit facility[11][12] Management and Investment Strategy - The company targets investments of $3 million to $20 million in privately held middle-market companies with annual EBITDA between $5 million and $50 million[18] - The company is externally managed by OFS Capital Management, LLC, which is registered under the Investment Advisers Act of 1940[18] Forward-Looking Statements - Forward-looking statements indicate potential risks and uncertainties that may affect future results, as detailed in the company's Annual Report on Form 10-K[19]
OFS Capital(OFS) - 2024 Q3 - Quarterly Results