Financial Performance - The Company reported net investment income of $2.3 million, or $0.16 per share, for the quarter[3]. - Total investment income for the three months ended September 30, 2024, was $6,846,775, an increase from $5,897,706 in the same period last year, representing a growth of approximately 16.1%[13]. - Net investment income for the quarter was $2,325,943, compared to $1,627,667 in the prior year, reflecting an increase of about 42.8%[13]. - The net increase in net assets resulting from operations was $6,606,629, a significant recovery from a net decrease of $1,684,362 in the previous year[13]. - Basic and diluted earnings per share for the quarter were $0.46, compared to a loss of $(0.12) per share in the same quarter last year[13]. - Total expenses for the quarter were $4,590,410, up from $4,356,669 in the prior year, marking an increase of approximately 5.4%[13]. Investment Activity - Total investments made during the quarter amounted to $13.1 million, with a weighted average yield of 10.73%[2][7]. - The Company realized investments totaling $13.4 million during the quarter, achieving an internal rate of return of 11.75%[2]. - The company reported a net realized loss from investments of $(4,056,505) for the quarter, while the net change in unrealized appreciation was $8,337,191, indicating a strong recovery in investment values[13]. - Interest income from non-controlled, non-affiliated investments was $4,674,329, down from $5,465,288, a decrease of about 14.4%[13]. Asset Management - Net asset value increased by $0.34 per share to $5.55, reflecting a 6.50% increase in net assets, totaling $4.9 million[2]. - Total assets as of September 30, 2024, were $203.0 million, with net assets of $79.89 million[3][12]. - Cash resources included $10.1 million, with $8.3 million classified as restricted cash[11]. - The weighted average yield on debt investments at cost for the quarter was 10.51%, down from 12.33% in the previous quarter[2]. - The Company had net repayments of $7,500 on existing credit commitments during the quarter[2][8]. - As of September 30, 2024, the investment portfolio consisted of 45 portfolio companies, with 82.47% in first lien investments[10]. Shareholder Returns - The Company declared a distribution of $0.12 per share for the quarter ending December 31, 2024, with a yield of 15.34% based on a share price of $3.13 as of September 30, 2024[2][6]. - The weighted average shares of common stock outstanding increased slightly to 14,403,752 from 14,392,714 year-over-year[13]. Strategic Outlook - The company has a strategy focused on investing in middle-market companies with annual revenues of at least $50 million and EBITDA of at least $15 million[14]. - Forward-looking statements indicate that the company anticipates potential market volatility and interest rate changes may impact future performance[15].
Investcorp Credit Management BDC(ICMB) - 2025 Q1 - Quarterly Results