Fidus Investment Corporation Announces Fourth Quarter and Full Year 2025 Financial Results

Core Viewpoint - Fidus Investment Corporation reported its financial results for Q4 and the full year of 2025, highlighting a strong investment strategy focused on credit quality and capital preservation, with expectations for continued deal activity in 2026 [5]. Financial Highlights Fourth Quarter 2025 Financial Highlights - Total investment income reached $42.2 million, a 12.5% increase from Q4 2024 [7][8]. - Net investment income was $19.6 million, or $0.53 per share, reflecting a 5.3% increase year-over-year [10]. - Adjusted net investment income was $19.4 million, or $0.52 per share, a 5.1% increase from the previous year [10]. - The company invested $213.7 million in debt and equity securities, including eight new portfolio companies [7]. - Total expenses for Q4 were $22.5 million, a 19.7% increase from $18.8 million in Q4 2024 [9]. Full Year 2025 Financial Highlights - Total investment income for the year was $155.9 million, a 6.6% increase from 2024 [12]. - Net investment income decreased slightly to $73.9 million, or $2.08 per share, down 1.1% from the previous year [14]. - Adjusted net investment income increased by 0.3% to $75.6 million, or $2.13 per share [14]. - Total expenses for the year were $82.0 million, a 14.7% increase from $71.5 million in 2024 [13]. Portfolio and Investment Activities - As of December 31, 2025, the fair value of the investment portfolio was $1.3 billion, consisting of 97 active portfolio companies [17]. - The average active portfolio company investment at amortized cost was $13.4 million [17]. - The weighted average yield on debt investments was 12.6% as of December 31, 2025 [17]. Liquidity and Capital Resources - As of December 31, 2025, the company had $70.0 million in cash and cash equivalents and $141.2 million of unused capacity under its credit facility [18]. - In 2025, the company received net proceeds of $79.3 million from its equity at-the-market program and issued $200.0 million in March 2030 Notes [18]. Dividend Declaration - The board declared a base dividend of $0.43 per share and a supplemental dividend of $0.09 per share for Q1 2026, payable on March 30, 2026 [24].