Runway Growth Finance (RWAY) - 2024 Q4 - Annual Results

Investment Income - Total investment income for Q4 2024 was $33.8 million, down from $39.2 million in Q4 2023[6] - Net investment income for Q4 2024 was $14.6 million, or $0.39 per share, compared to $18.3 million, or $0.45 per share, in Q4 2023[6] - Investment income for the year ended December 31, 2024, totaled $144,632,000, down from $164,209,000 in 2023, a decrease of 11.9%[35] Portfolio and Assets - The investment portfolio had a fair value of approximately $1.1 billion, consisting of 56 portfolio companies[10] - Total assets increased to $1,091,355,000 as of December 31, 2024, compared to $1,079,153,000 in 2023, reflecting a growth of 1.9%[33] - Total investments at fair value rose to $1,076,840,000 from $1,067,009,000, marking an increase of 0.7% year-over-year[33] Debt and Financing - Total debt, less unamortized deferred financing costs, increased to $552,332,000 from $510,078,000, an increase of 8.3%[33] - The dollar-weighted annualized yield on debt investments for Q4 2024 was 14.7%[7] Shareholder Returns - The company declared a regular dividend of $0.33 per share and a supplemental dividend of $0.03 per share for Q1 2025[15] - The company repurchased 555,104 shares of common stock during Q4 2024[5] Net Asset Value - Net asset value (NAV) per share increased to $13.79 as of December 31, 2024, from $13.50 a year earlier[12] - The net asset value per share increased to $13.79 from $13.50, representing a growth of 2.1%[33] Operational Performance - Net increase in net assets resulting from operations for the year ended December 31, 2024, was $73,609,000, compared to $44,341,000 in 2023, an increase of 66.1%[35] - Management fees for the three months ended December 31, 2024, were $3,931,000, a decrease from $4,113,000 in 2023, down by 4.4%[35] - The weighted average shares outstanding decreased to 37,465,536 from 40,509,269, a reduction of 7.5%[35] Investment Gains - The company reported a net realized and unrealized gain on investments of $13,601,000 for the three months ended December 31, 2024, compared to a loss of $23,102,000 in 2023[35] Liquidity - The company had approximately $244.8 million in available liquidity as of December 31, 2024[14] Strategic Initiatives - The combination with BC Partners Credit is expected to diversify the company's portfolio and enhance investment opportunities[4]