Monroe Capital(MRCC) - 2025 Q1 - Quarterly Results

Financial Performance - Net Investment Income (NII) for Q1 2025 was $4.1 million, or $0.19 per share, down from $6.0 million, or $0.28 per share in Q4 2024[8] - Adjusted Net Investment Income for Q1 2025 was $4.2 million, or $0.19 per share, compared to $6.2 million, or $0.29 per share in Q4 2024[4] - Total investment income for Q1 2025 was $11.6 million, a decrease of $2.4 million from $14.0 million in Q4 2024[9] - Total investment income for the quarter ended March 31, 2025, was $11.638 million, down from $14.023 million for the quarter ended December 31, 2024, a decrease of about 17.03%[26] - Net investment income for the quarter ended March 31, 2025, was $4.086 million, compared to $6.022 million for the previous quarter, reflecting a decline of approximately 32.29%[26] - The company reported a net loss of $3.554 million for the quarter ended March 31, 2025, compared to a net loss of $7.737 million for the quarter ended December 31, 2024, indicating an improvement in losses[26] Asset and Liability Management - Net Asset Value (NAV) decreased by 2.5% to $186.9 million, or $8.63 per share, from $191.8 million, or $8.85 per share at the end of Q4 2024[4] - Total assets decreased from $490.671 million as of December 31, 2024, to $461.518 million as of March 31, 2025, representing a decline of approximately 5.93%[24] - Total liabilities decreased from $298.909 million as of December 31, 2024, to $274.641 million as of March 31, 2025, a reduction of about 8.09%[24] - The company's debt-to-equity leverage decreased from 1.53 times at the end of Q4 2024 to 1.45 times at the end of Q1 2025[5] Investment Portfolio - The average portfolio mark decreased by 1.1% to 91.1% of amortized cost as of March 31, 2025[12] - The number of portfolio company investments decreased from 91 at the end of Q4 2024 to 85 at the end of Q1 2025[7] - Interest income from non-controlled/non-affiliate company investments decreased from $8.576 million to $8.029 million, a decline of approximately 6.39%[26] Expenses and Dividends - Total expenses for Q1 2025 were $7.6 million, down from $8.0 million in Q4 2024, primarily due to a lower interest rate environment[10] - The company’s total operating expenses for the quarter ended March 31, 2025, were $7.432 million, down from $7.838 million for the previous quarter, a decrease of about 5.18%[26] - The company paid a quarterly dividend of $0.25 per share, representing an annualized yield of approximately 14.3%[3] Strategic Focus - Monroe Capital Corporation continues to focus on maximizing total return to stockholders through current income and capital appreciation in middle-market companies[28]