WhiteHorse Finance, Inc. Announces Fourth Quarter and Full Year 2024 Earnings Results and Declares Quarterly Distribution of $0.385 Per Share

Core Viewpoint - WhiteHorse Finance, Inc. reported its financial results for Q4 and the year ended December 31, 2024, highlighting a distribution of $0.385 per share, despite facing challenges in its investment portfolio [1][2]. Financial Performance - Total investment income for Q4 2024 was $21.009 million, down from $22.851 million in Q3 2024, representing an 8.1% decrease [3]. - Total expenses, including excise tax, decreased by 4.9% to $13.032 million from $13.697 million [3]. - Net investment income for Q4 was $7.977 million, a decline of 12.9% from $9.154 million in Q3 [3]. - The net investment income per share decreased to $0.343 from $0.394, also a 12.9% drop [3]. - The company declared a special distribution of $0.245 per share during the same period [3][7]. Portfolio and Investment Activity - As of December 31, 2024, the fair value of the investment portfolio was $642.2 million, down from $654.3 million as of September 30, 2024, a decrease of 1.9% [4]. - The portfolio consisted of 127 positions across 71 companies, with a weighted average effective yield of 12.5% on income-producing debt investments [4]. - The average debt investment size was $5.5 million, with 78.2% in first lien secured loans [4]. - During Q4, the company invested $27.4 million in six new portfolio companies and added $8.0 million to existing companies [5]. - Proceeds from sales and repayments totaled approximately $32.5 million, driven by full repayments from several companies [5]. Distributions - The board declared a distribution of $0.385 per share for Q4 2024, payable on April 4, 2025, to stockholders of record as of March 21, 2025 [1][7]. - This distribution marks the forty-ninth consecutive quarter with distributions at or above $0.355 since the company's IPO [8].