Runway Growth Finance (US:RWAY)2024-05-07 18:39Investment Income - Total investment income for Q1 2024 was $40.0 million, a 1.8% increase from $39.3 million in Q1 2023[4] - Net investment income for Q1 2024 was $18.7 million, or $0.46 per share, compared to $18.2 million, or $0.45 per share in Q1 2023[4] - Total investment income for Q1 2024 was $40,009,000, a slight increase from $39,310,000 in Q1 2023, representing a growth of 1.77%[27] - Net investment income increased to $18,664,000 in Q1 2024 from $18,246,000 in Q1 2023, reflecting a year-over-year increase of 2.29%[27] - Net investment income per common share (basic and diluted) rose to $0.46 in Q1 2024, compared to $0.45 in Q1 2023, marking a 2.22% increase[27] Investment Performance - The dollar-weighted annualized yield on average debt investments for Q1 2024 was 17.4%[5] - The net change in unrealized loss on non-control/non-affiliate investments was $(5,065,000) in Q1 2024, compared to $(1,421,000) in Q1 2023, indicating a significant decline in investment performance[27] - The company reported a net change in unrealized loss on affiliate investments of $(1,552,000) in Q1 2024, compared to $(5,986,000) in Q1 2023, indicating improved performance in this segment[27] Assets and Valuation - As of March 31, 2024, the investment portfolio had a fair value of approximately $1.02 billion across 53 portfolio companies[8] - The net asset value (NAV) per share decreased to $13.36 as of March 31, 2024, down from $14.07 a year earlier[10] - Total net assets at the end of Q1 2024 were $529.5 million, a 7% decline from $569.8 million in Q1 2023[10] Dividends and Share Repurchase - The company declared a regular quarterly dividend of $0.40 per share and a supplemental dividend of $0.07 per share for Q2 2024[13] - The company repurchased 183,702 shares under the Share Repurchase Program from March 31, 2024, to May 7, 2024[17] Liquidity - The company had approximately $319.9 million in available liquidity as of March 31, 2024[12] Operating Expenses - Total operating expenses for Q1 2024 were $21,345,000, an increase from $21,064,000 in Q1 2023, reflecting a rise of 1.34%[27] - Management fees remained stable at $3,952,000 in Q1 2024, compared to $3,959,000 in Q1 2023[27] - The company experienced a decrease in tax expense, reporting only $2,000 in Q1 2024, down from $50,000 in Q1 2023[27] Share Count - Weighted average shares outstanding (basic and diluted) decreased to 40,392,255 in Q1 2024 from 40,509,269 in Q1 2023[27] Net Change in Assets - Net increase in net assets resulting from operations was $12,047,000 for Q1 2024, slightly up from $11,984,000 in Q1 2023[27]