WhiteHorse Finance, Inc. Announces Third Quarter 2025 Earnings Results, Stock Repurchase Program up to $15.0 Million And Declares Quarterly Distribution of $0.25 Per Share

Core Viewpoint - WhiteHorse Finance, Inc. reported its financial results for Q3 2025, showing a decline in total investment income and net investment income, while announcing a distribution of $0.25 per share for the quarter [1][10]. Financial Performance - Total investment income for Q3 2025 was $17.7 million, down 6.1% from $18.8 million in Q2 2025 [5]. - Total expenses decreased by 5.6% to $11.6 million from $12.3 million in the previous quarter [5]. - Net investment income fell by 7.0% to $6.1 million, with a per-share income of $0.263, down 6.7% from $0.282 [5]. - The company experienced net realized gains of $(1.8) million, a significant improvement from $(22.0) million in Q2 2025 [5]. - Net unrealized depreciation was $(4.9) million, compared to an appreciation of $17.7 million in the previous quarter [5]. Portfolio and Investment Activity - As of September 30, 2025, the fair value of the investment portfolio was $568.4 million, a decrease of 9.7% from $629.3 million as of June 30, 2025 [6][7]. - The portfolio consisted of 125 positions across 66 companies, with a weighted average effective yield of 11.6% on income-producing debt investments [7]. - The company made new investments totaling $14.3 million and added $4.9 million to existing portfolio companies during the quarter [8]. Shareholder Actions - The board of directors authorized a stock repurchase program for up to $15.0 million of common stock [3]. - WhiteHorse Advisers reduced the incentive fee on net investment income from 20.00% to 17.50% for the next two fiscal quarters [4]. Distributions - A distribution of $0.25 per share was declared for Q3 2025, payable on January 5, 2026 [10]. - A special distribution of $0.035 per share was also declared, payable on December 10, 2025 [10].