Runway Growth Finance Corp. Reports Fourth Quarter and Fiscal Year 2024 Financial Results

Core Insights - Runway Growth Finance Corp. reported total investment income of $33.8 million and net investment income of $14.6 million for Q4 2024, showing a decrease from $39.2 million and $18.3 million respectively in Q4 2023 [6][8] - The company's investment portfolio reached a fair value of approximately $1.1 billion, consisting of 56 portfolio companies and one joint venture [12] - The company declared a regular quarterly dividend of $0.33 per share and a supplemental dividend of $0.03 per share for Q1 2025 [17] Financial Performance - Total investment income for the fiscal year 2024 was $144.6 million, down from $164.2 million in 2023 [37] - Net investment income for the fiscal year 2024 was $63.8 million, or $1.64 per share, compared to $78.3 million, or $1.93 per share, in 2023 [7][37] - The net asset value (NAV) per share increased to $13.79 as of December 31, 2024, from $13.50 a year earlier, despite total net assets decreasing by 5.9% to $514.9 million [14] Investment Activity - In Q4 2024, the company completed two investments in new portfolio companies and five investments in existing portfolio companies, totaling $154.0 million in funded investments [7][13] - The dollar-weighted annualized yield on debt investments for Q4 2024 was 14.7% [9] - The company reported a low credit loss ratio of an average of 12 basis points per year on a gross basis since inception [7] Share Repurchase and Capital Management - The company repurchased 555,104 shares during Q4 2024 under its share repurchase program [7] - As of December 31, 2024, the company had approximately $244.8 million in available liquidity, including $5.8 million in cash and $239.0 million in borrowing capacity [16] Recent Developments - The company underwent a significant transaction with BC Partners Credit, which is expected to enhance its investment capabilities and diversify its portfolio [5][21] - The board of directors has seen changes, with new appointments made to fill vacancies [22][23][29]