Apollo Investment(AINV) - 2026 Q2 - Quarterly Results

Financial Performance - Net investment income per share for the quarter was $0.38, a decrease of 2.6% from $0.39 for the quarter ended June 30, 2025[1] - Net investment income for the three months ended September 30, 2025, was $35,307,000, compared to $38,135,000 for the same period in 2024, indicating a decrease of 4.8%[28] - The company reported total investment income of $82,576,000 for the three months ended September 30, 2025, slightly up from $82,138,000 in 2024[28] - Management fees increased to $6,069,000 for the three months ended September 30, 2025, compared to $4,428,000 in the same period of 2024, representing a rise of 37.1%[28] - The company experienced net realized losses of $19,167,000 for the three months ended September 30, 2025, compared to net realized gains of $487,000 in the same period of 2024[28] Asset and Liability Overview - Net asset value per share as of September 30, 2025, was $14.66, down 0.6% from $14.75 as of June 30, 2025[2] - Total assets as of September 30, 2025, were $3.31 billion, down from $3.46 billion as of June 30, 2025[7] - Total assets increased to $3,309,494,000 from $3,190,950,000 as of December 31, 2024, reflecting a growth of approximately 3.7%[26] - Total liabilities increased to $1,941,574,000 as of September 30, 2025, from $1,786,304,000 at the end of 2024, marking an increase of approximately 8.7%[26] - The company’s cash and cash equivalents decreased to $62,502,000 as of September 30, 2025, from $74,357,000 at the end of 2024[26] Investment Activities - New investment commitments during the quarter totaled $138 million, with gross fundings of $142 million[1] - The company received a net repayment of approximately $97 million from Merx Aviation Finance, reducing its exposure to 3.3% of the total portfolio[1] - The company upsized and extended the maturity of Bethesda CLO 1, increasing its size from $402.4 million to $646.4 million[19] - As of September 30, 2025, the portfolio composition consists of 95% first lien secured debt, with a weighted average yield of 10.2%[23] - The available remaining capacity under the Facility was $575 million as of September 30, 2025[14] Shareholder Returns - The Board declared a dividend of $0.38 per share, payable on December 23, 2025[3] - The company did not repurchase any shares during the quarter, with a total of 16,069,776 shares repurchased since the inception of the program[12] Forward-Looking Statements - MFIC's forward-looking statements include expectations regarding future operating results and business prospects, which are subject to various risks and uncertainties[33] - The company anticipates potential impacts from supply chain disruptions, tariffs, trade disputes, and changes in financial markets, which could affect actual results[33] - MFIC's forward-looking statements are based on information available as of the date of the release and do not obligate the company to update them[33]