XML 14 R4.htm IDEA: XBRL DOCUMENT v3.23.3
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Fee income:        
Other income $ 82 $ 18 $ 139 $ 20
Total investment income 42,777 26,799 83,138 49,342
Compensation 2,333 2,254 4,843 3,796
Share-based compensation 1,236 1,060 2,199 1,881
Interest 10,481 6,629 20,162 12,113
Professional fees 989 810 1,944 1,659
General and administrative 1,327 1,068 2,576 2,285
Total operating expenses 16,366 11,821 31,724 21,734
Income before taxes 26,411 14,978 51,414 27,608
Federal income, excise and other taxes (150) 178 449 251
Deferred taxes (633) 356 (785) 475
Total income tax (benefit) provision (783) 534 (336) 726
Net investment income 27,194 14,444 51,750 26,882
Realized gain (loss)        
Income tax benefit (provision) 28 79 (293) (165)
Total net realized gain (loss) on investments, net of tax 390 (8,635) (12,392) (6,315)
Net unrealized (depreciation) appreciation on investments        
Income tax benefit (provision) 1,083 (1,494) 1,063 (2,575)
Total net unrealized (depreciation) appreciation on investments, net of tax (4,599) 3,649 7,439 (8,599)
Net realized and unrealized (losses) gains on investments (4,209) (4,986) (4,953) (14,914)
Realized loss on extinguishment of debt (361) 0 (361) 0
Net increase in net assets from operations $ 22,624 $ 9,458 $ 46,436 $ 11,968
Pre-tax net investment income per share - basic (in usd per share) $ 0.67 $ 0.54 $ 1.33 $ 1.03
Pre-tax net investment income per share - diluted (in usd per share) 0.67 0.54 1.33 1.03
Net investment income per share – basic (in usd per share) 0.69 0.52 1.34 1.01
Net investment income per share – diluted (in usd per share) 0.69 0.52 1.34 1.01
Net increase in net assets from operations – basic (in usd per share) 0.57 0.34 1.20 0.45
Net increase in net assets from operations – diluted (in usd per share) $ 0.57 $ 0.34 $ 1.20 $ 0.45
Weighted average shares outstanding – basic (in share) 39,698,396 27,987,699 38,653,879 26,757,376
Weighted average shares outstanding – diluted (in share) 39,698,396 27,987,699 38,653,879 26,757,376
Non-control/Non-affiliate investments        
Interest income:        
Interest income $ 33,657 $ 19,632 $ 64,297 $ 35,380
Payment-in-kind interest income:        
Payment-in-kind interest income 963 550 1,877 966
Dividend income:        
Dividend income 287 527 786 1,077
Fee income:        
Fee income 349 567 1,294 1,857
Realized gain (loss)        
Realized gain (loss) 210 (2,396) (5,596) 153
Net unrealized (depreciation) appreciation on investments        
Unrealized gain (loss) (6,204) 2,609 (3,921) (1,942)
Affiliate investments        
Interest income:        
Interest income 4,298 2,487 8,477 4,999
Payment-in-kind interest income:        
Payment-in-kind interest income 563 834 1,305 1,105
Dividend income:        
Dividend income 31 0 91 101
Fee income:        
Fee income 360 134 517 252
Realized gain (loss)        
Realized gain (loss) 152 (6,318) (6,503) (6,303)
Net unrealized (depreciation) appreciation on investments        
Unrealized gain (loss) (1,038) 3,338 8,131 2,624
Control investments        
Dividend income:        
Dividend income 2,166 2,000 4,310 3,535
Fee income:        
Fee income 21 50 45 50
Net unrealized (depreciation) appreciation on investments        
Unrealized gain (loss) $ 1,560 $ (804) $ 2,166 $ (6,706)