Fidus Investment (US:FDUS)2025-11-06 21:07Investment Income - Total investment income for Q3 2025 was $37.3 million, a decrease of 2.9% compared to $38.4 million in Q3 2024[4] - Net investment income decreased by 18.9% to $17.4 million, or $0.49 per share, down from $21.4 million, or $0.64 per share in the same period last year[8] - Adjusted net investment income was $17.7 million, or $0.50 per share, compared to $20.4 million, or $0.61 per share in Q3 2024, reflecting a 13.2% decline[6] - Net investment income for the three months ended September 30, 2025, was $17,369,000, compared to $21,411,000 for the same period in 2024, reflecting a decrease of approximately 18.5%[32] - Adjusted net investment income for the three months ended September 30, 2025, was $17,723,000, down from $20,424,000 in 2024, reflecting a decline of 13.3%[36] - For the nine months ended September 30, 2025, net investment income totaled $54,219,000, slightly down from $55,988,000 in 2024, a decrease of 3.2%[36] - Adjusted net investment income for the nine months ended September 30, 2025, was $56,191,000, compared to $56,930,000 in 2024, a decline of 1.3%[36] Investment Activity - The company invested $74.5 million in debt and equity securities during the quarter, including one new portfolio company[4] - Subsequent to the quarter end, the company invested $40.2 million in two new portfolio companies, indicating a strong pipeline for future investments[3] Asset and Portfolio Valuation - As of September 30, 2025, the net asset value (NAV) was $711.0 million, or $19.56 per share[4] - The fair value of the investment portfolio totaled $1.2 billion, consisting of 92 active portfolio companies[10] - Total assets increased to $1,277,748,000 as of September 30, 2025, compared to $1,164,112,000 on December 31, 2024, representing a growth of approximately 9.7%[30] - Total investments at fair value rose to $1,192,748,000, up from $1,090,506,000, indicating an increase of about 9.4%[30] - Net asset value per common share increased to $19.56 as of September 30, 2025, from $19.33 at the end of 2024, a rise of approximately 1.2%[30] Expenses and Liabilities - Total expenses for Q3 2025 were $19.9 million, an increase of 17.2% from $17.0 million in Q3 2024[7] - Interest and financing expenses increased to $7,649,000 for the three months ended September 30, 2025, compared to $6,026,000 in 2024, an increase of approximately 26.9%[32] - The total liabilities increased to $566,714,000 as of September 30, 2025, from $508,446,000 at the end of 2024, representing a rise of approximately 11.5%[30] Dividends - The company declared total dividends of $0.50 per share for Q4 2025, consisting of a base dividend of $0.43 and a supplemental dividend of $0.07[13] - The company declared dividends of $0.57 per share for the three months ended September 30, 2025, consistent with the same period in 2024[32] Realized Losses - The company reported a net realized loss on investments of $930,000 for the three months ended September 30, 2025, compared to a loss of $366,000 in 2024[32] - The capital gains incentive fee expense for the three months ended September 30, 2025, was a reversal of $354,000, compared to an expense of $(987,000) in 2024[36] - The capital gains incentive fee expense for the nine months ended September 30, 2025, was $1,972,000, up from $942,000 in 2024[36]