Financial Performance - Net investment income increased to $0.30 per common share for Q4 2024, up from $0.27 in Q3 2024[5] - Net gain on investments was $1.60 per common share for Q4 2024, primarily due to net unrealized appreciation of $1.79 per common share[5] - Total investment income for Q4 2024 was $11.648 million, an increase of $0.7 million from Q3 2024[12] - For the three months ended December 31, 2024, total investment income was $11,648,000, a decrease of 6.2% from $13,483,000 in the same period of 2023[22] - Net investment income for the year ended December 31, 2024, was $16,712,000, down 17.9% from $20,160,000 in 2023[22] - The net investment income per common share for the year ended December 31, 2024, was $1.25, down from $1.50 in 2023[22] - Distributions declared per common share remained stable at $0.34 for both the three months ended December 31, 2024, and 2023[22] Asset and Investment Overview - Net asset value per common share rose to $12.85 at December 31, 2024, compared to $11.29 at September 30, 2024[5] - Total investments at fair value were $409.7 million, approximately 113% of amortized cost[11] - The investment portfolio included $224.2 million in debt investments, with 85% as first lien loans[11] - Cash and cash equivalents totaled $6.1 million as of December 31, 2024[16] Debt and Liabilities - Outstanding debt was $248.4 million as of December 31, 2024, with a weighted-average effective interest rate of 6.30%[9] Gains and Losses - The net realized loss for the year ended December 31, 2024, was $17,121,000, compared to a loss of $11,405,000 in 2023, indicating a significant increase in losses[22] - Net unrealized appreciation for the year ended December 31, 2024, was $28,851,000, a recovery from a depreciation of $9,007,000 in 2023[22] - The net increase in net assets resulting from operations for the three months ended December 31, 2024, was $25,475,000, compared to a decrease of $4,109,000 in the same period of 2023[22] Company Strategy and Management - OFS Capital primarily targets investments of $3 million to $20 million in privately held middle-market companies with annual EBITDA between $5 million and $50 million[23] - The company is externally managed by OFS Capital Management, LLC, which is registered under the Investment Advisers Act of 1940[23] Forward-Looking Statements - Forward-looking statements indicate that actual results may differ materially from expectations due to various risks and uncertainties[24]
OFS Capital(OFS) - 2024 Q4 - Annual Results