Financial Performance - Net Investment Income (NII) for Q4 2024 was $6.0 million, or $0.28 per share, a decrease from $6.5 million, or $0.30 per share in Q3 2024[10]. - Adjusted Net Investment Income for Q4 2024 was $6.2 million, or $0.29 per share, down from $6.6 million, or $0.31 per share in Q3 2024[5]. - Total investment income for Q4 2024 was $14.0 million, compared to $15.7 million in Q3 2024, a decrease of $1.7 million[11]. - For the full year 2024, NII totaled $24.5 million, or $1.13 per share, compared to $23.2 million, or $1.07 per share in 2023[15]. - Adjusted Net Investment Income for the full year 2024 was $25.0 million, or $1.15 per share, compared to $24.1 million, or $1.11 per share in 2023[15]. - Total investment income for the full year 2024 was $60.5 million, down from $64.3 million in 2023, a decrease of $3.8 million[16]. - The Company reported a net investment income of $6,022,000 for Q4 2024, down from $6,481,000 in Q3 2024, a decline of 7.1%[36]. - Total investment income for the quarter ended December 31, 2024, was $14,023,000, a decrease of 10.7% from $15,695,000 for the previous quarter[39]. Asset and Liability Management - Net Asset Value (NAV) decreased by 3.6% to $191.8 million, or $8.85 per share, from $198.9 million, or $9.18 per share in Q3 2024[5]. - Total assets as of December 31, 2024, were $490,671,000, a decrease from $501,862,000 as of September 30, 2024, indicating a decline of 2.5%[33]. - Total liabilities decreased to $298,909,000 as of December 31, 2024, from $302,969,000 in the previous quarter, a reduction of 1.4%[33]. - The company's debt-to-equity leverage increased from 1.50 times to 1.53 times from Q3 2024 to Q4 2024[6]. Expense Management - Total expenses for Q4 2024 were $8.0 million, down from $9.2 million in Q3 2024, primarily due to lower interest and debt financing expenses[12]. - Operating expenses for the year ended December 31, 2024, totaled $35,543,000, down from $40,242,000 in 2023, a decrease of 11.7%[36]. - Total interest and other debt financing expenses for the year ended December 31, 2024, were $21,917,000, compared to $22,847,000 in 2023, indicating a decrease of 4.1%[39]. - Interest expense from the revolving credit facility for the quarter ended December 31, 2024, was $3,227,000, down from $3,630,000 in the previous quarter, a reduction of 11.1%[39]. Future Outlook and Strategy - The company aims to maximize total return to stockholders through current income and capital appreciation, focusing on middle-market companies[40]. - Forward-looking statements indicate that actual results may vary materially from projections, emphasizing the uncertainty in future performance[43]. Recognition and Management - Monroe Capital Corporation has been recognized with multiple awards, including the 2023 Lower Mid-Market Lender of the Decade, highlighting its strong market position[42]. - The company operates under the management of Monroe Capital BDC Advisors, LLC, which is registered under the Investment Advisers Act of 1940[40]. - Monroe Capital LLC specializes in private credit markets, providing capital solutions since 2004, with a focus on generating high-quality returns[41]. - The company maintains a diverse investment strategy, including direct lending and structured credit, to adapt to various economic cycles[41].
Monroe Capital(MRCC) - 2024 Q4 - Annual Results