CION Investment (US:CION)2025-10-01 12:30Financial Performance - For the quarter ended June 30, 2025, CION paid a quarterly base distribution totaling $18.9 million, or $0.36 per share [4]. - Net investment income for the quarter was $0.32 per share, while earnings per share were $0.52 [5]. - Total investment income for the quarter was $52.2 million, a decrease from $56.1 million in the previous quarter, primarily due to lower transaction fees [7]. - Investment income for the three months ended June 30, 2025, was $52.244 million, a decrease from $61.357 million in the same period of 2024 [24]. - Net investment income after taxes for the six months ended June 30, 2025, was $36.174 million, compared to $55.556 million in 2024, reflecting a decline [24]. - Net realized losses on non-controlled, non-affiliated investments for the three months ended June 30, 2025, were $32.376 million, compared to $13.186 million in the same period of 2024 [24]. - Net increase in net assets resulting from operations for the three months ended June 30, 2025, was $27.316 million, up from $22.378 million in 2024 [24]. Asset and Investment Overview - Net asset value per share increased to $14.50 as of June 30, 2025, reflecting a 1.5% increase from $14.28 as of March 31, 2025 [5]. - Total investments at fair value amounted to $1.77 billion across 99 portfolio companies, with 85.1% in senior secured loans [5]. - Total assets as of June 30, 2025, were approximately $1.9 billion, with total investments at fair value of $1.8 billion [25]. - Investments on non-accrual status represented 1.37% of the total investment portfolio at fair value as of June 30, 2025, up from 1.20% as of March 31, 2025 [11]. Shareholder Actions - The company repurchased 699,565 shares at an average price of $9.37 per share, totaling $6.6 million during the quarter [5]. - The board authorized an increase of $20 million to the share repurchase program, raising the total to $80 million [7]. Debt and Liabilities - The combined weighted average interest rate on debt outstanding was 7.5% for the quarter ended June 30, 2025 [12]. - Total liabilities as of June 30, 2025, were $1.122 billion, a slight decrease from $1.139 billion in the previous quarter [22]. - Interest expense for the three months ended June 30, 2025, was $22.637 million, down from $23.773 million in the same period of 2024 [24]. Management and Strategy - Management fees for the three months ended June 30, 2025, were $6.497 million, compared to $6.841 million in the same period of 2024 [24]. - CION Investment Corporation focuses primarily on senior secured loans to U.S. middle-market companies to generate current income and capital appreciation [25].