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CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Fee income:        
Other income $ 18 $ 4 $ 20 $ 7
Total investment income 26,799 20,296 49,342 38,875
Compensation 2,254 2,298 3,796 3,730
Share-based compensation expense 1,060 923 1,881 1,999
Interest 6,629 5,405 12,113 10,360
Professional fees 810 648 1,659 1,349
General and administrative 1,068 982 2,285 1,958
Total operating expenses 11,821 10,256 21,734 19,396
Total investment income 14,978 10,040 27,608 19,479
Federal income, excise and other taxes 178 15 251 215
Deferred taxes 356 299 475 495
Total income tax provision (benefit) 534 314 726 710
Net investment income 14,444 9,726 26,882 18,769
Realized (loss) gain        
Net realized gain (loss) on investments 79 0 (165) 0
Total net realized (loss) gain on investments, net of tax (8,635) 3,496 (6,315) 2,544
Net unrealized appreciation (depreciation) on investments        
Income tax provision (1,494) (1,027) (2,575) (1,462)
Total net unrealized appreciation (depreciation) on investments, net of tax 3,649 (691) (8,599) 6,360
Net realized and unrealized (losses) gains on investments (4,986) 2,805 (14,914) 8,904
Realized loss on extinguishment of debt 0 (17,087) 0 (17,087)
Net increase (decrease) in net assets from operations $ 9,458 $ (4,556) $ 11,968 $ 10,586
Pre-tax net investment income per share - basic (in usd per share) $ 0.54 $ 0.45 $ 1.03 $ 0.89
Pre-tax net investment income per share - diluted (in usd per share) 0.54 0.45 1.03 0.89
Net investment income per share – basic (in usd per share) 0.52 0.43 1.01 0.86
Net investment income per share – diluted (in usd per share) 0.52 0.43 1.01 0.86
Net increase in net assets from operations – basic (in usd per share) 0.34 (0.20) 0.45 0.48
Net increase in net assets from operations – diluted (in usd per share) $ 0.34 $ (0.20) $ 0.45 $ 0.48
Weighted average shares outstanding – basic (in share) 27,987,699 22,534,443 26,757,376 21,871,805
Weighted average shares outstanding – diluted (in share) 27,987,699 22,534,443 26,757,376 21,871,805
Non-control/Non-affiliate investments        
Interest income:        
Interest income $ 19,632 $ 14,752 $ 35,380 $ 28,068
Payment-in-kind interest income:        
Payment-in-kind interest income 550 466 966 1,103
Dividend income:        
Dividend income 527 510 1,077 1,570
Fee income:        
Fee income 567 1,138 1,857 1,415
Realized (loss) gain        
Realized (loss) gain (2,396) 3,496 153 2,544
Net unrealized appreciation (depreciation) on investments        
Unrealized gain (loss) 2,609 2,363 (1,942) 9,393
Affiliate investments        
Interest income:        
Interest income 2,487 1,348 4,999 2,658
Payment-in-kind interest income:        
Payment-in-kind interest income 834 413 1,105 751
Dividend income:        
Dividend income 0 0 101 0
Fee income:        
Fee income 134 105 252 146
Realized (loss) gain        
Realized (loss) gain (6,318) 0 (6,303) 0
Net unrealized appreciation (depreciation) on investments        
Unrealized gain (loss) 3,338 (393) 2,624 (851)
Control investments        
Dividend income:        
Dividend income 2,000 1,560 3,535 3,157
Fee income:        
Fee income 50 0 50 0
Net unrealized appreciation (depreciation) on investments        
Unrealized gain (loss) $ (804) $ (1,634) $ (6,706) $ (720)