Runway Growth Finance Corp. reported total investment income of $35.4 million for the first quarter ended March 31, 2025, a decrease from $40.0 million in the comparable prior-year period. Net investment income for the quarter was $15.6 million, or $0.42 per share, down from $18.7 million, or $0.46 per share, in Q1 2024.
The company's dollar-weighted annualized yield on average debt investments was 15.4%, lower than the 17.4% in Q1 2024. Net realized gain on investments was $6.1 million, primarily from the sale of Gynesonics, Inc., while net change in unrealized loss was $19.8 million, largely due to fair value decreases in certain portfolio companies.
As of March 31, 2025, NAV per share was $13.48, an increase from $13.36 in Q1 2024. Available liquidity stood at $315.4 million, and the core leverage ratio decreased to 99% from 108% in the prior quarter. The Board declared a regular quarterly distribution of $0.33 per share and a supplemental distribution of $0.02 per share for Q2 2025.
Subsequent to quarter-end, on April 7, 2025, the company issued $107.0 million of 7.51% Series 2025A Senior Notes due April 7, 2028, using the proceeds to repay outstanding indebtedness and make new investments. Additionally, on May 7, 2025, a new $25.0 million share repurchase program was approved by the Board of Directors.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.