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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
12 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Mar. 31, 2021
Fee income:      
Other income $ 121 $ 17 $ 21
Total investment income 119,300 82,215 68,062
Compensation 9,870 8,838 7,756
Share-based compensation 3,705 3,585 2,944
Interest 28,873 19,924 17,941
Professional fees 3,180 2,489 2,193
General and administrative 4,632 4,077 3,115
Total operating expenses 50,260 38,913 33,949
Income before taxes 69,040 43,302 34,113
Federal income, excise and other taxes 630 181 637
Deferred taxes (301) 434 1,805
Total income tax provision 329 615 2,442
Net investment income 68,711 42,687 31,671
Realized (loss) gain      
Income tax provision (130) (1,442) 0
Total net realized (loss) gain on investments, net of tax (17,029) 5,834 (8,536)
Net unrealized (depreciation) appreciation on investments      
Income tax provision (6,514) (1,968) (2,236)
Total net unrealized (depreciation) appreciation on investments, net of tax (18,589) 11,467 28,755
Net realized and unrealized (losses) gains on investments (35,618) 17,301 20,219
Realized loss on extinguishment of debt 0 (17,087) (1,007)
Realized loss on disposal of fixed assets 0 (86) 0
Net increase (decrease) in net assets from operations $ 33,093 $ 42,815 $ 50,883
Pre-tax net investment income per share - basic (in usd per share) $ 2.30 $ 1.90 $ 1.79
Pre-tax net investment income per share - diluted (in usd per share) 2.30 1.90 1.79
Net investment income per share – basic (in usd per share) 2.29 1.87 1.66
Net investment income per share – diluted (in usd per share) 2.29 1.87 1.66
Net increase in net assets from operations – basic (in usd per share) 1.10 1.87 2.67
Net increase in net assets from operations – diluted (in usd per share) $ 1.10 $ 1.87 $ 2.67
Weighted average shares outstanding – basic (in share) 30,015,533 22,839,835 19,060,131
Weighted average shares outstanding – diluted (in share) 30,015,533 22,839,835 19,060,131
Non-control/Non-affiliate investments      
Interest income:      
Interest income $ 87,982 $ 58,136 $ 42,880
Payment-in-kind interest income:      
Payment-in-kind interest income 2,382 2,051 4,268
Dividend income:      
Dividend income 1,824 1,654 1,752
Fee income:      
Fee income 4,057 4,833 3,233
Realized (loss) gain      
Realized (loss) gain (5,872) 7,136 (6,908)
Net unrealized (depreciation) appreciation on investments      
Unrealized gain (loss) (6,942) 20,940 21,218
Affiliate investments      
Interest income:      
Interest income 11,658 7,122 6,126
Payment-in-kind interest income:      
Payment-in-kind interest income 3,060 1,160 3,018
Dividend income:      
Dividend income 141 28 33
Fee income:      
Fee income 638 494 122
Realized (loss) gain      
Realized (loss) gain (11,027) 140 (1,628)
Net unrealized (depreciation) appreciation on investments      
Unrealized gain (loss) 6,014 (4,750) (2,825)
Control investments      
Dividend income:      
Dividend income 7,337 6,720 6,609
Fee income:      
Fee income 100 0 0
Net unrealized (depreciation) appreciation on investments      
Unrealized gain (loss) $ (11,147) $ (2,755) $ 12,598