XML 15 R4.htm IDEA: XBRL DOCUMENT v3.25.0.1
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2024
Dec. 31, 2023
Fee income:        
Other income $ 1,048 $ 193 $ 2,081 $ 332
Total investment income 51,973 48,566 152,033 131,704
Compensation 2,388 3,919 7,844 8,762
Share-based compensation 1,544 1,188 4,306 3,387
Interest 14,717 11,473 39,751 31,635
Professional fees 998 919 3,450 2,863
General and administrative 1,643 1,301 4,699 3,877
Total operating expenses 21,290 18,800 60,050 50,524
Income before taxes 30,683 29,766 91,983 81,180
Federal income, excise and other taxes 474 392 1,016 841
Deferred taxes (107) 515 627 (270)
Total income tax provision 367 907 1,643 571
Net investment income 30,316 28,859 90,340 80,609
Realized (loss) gain        
Income tax benefit (provision) 0 7 0 (286)
Total net realized (loss) gain on investments, net of tax (12,805) (7,842) (22,383) (20,234)
Net unrealized (depreciation) appreciation on investments        
Income tax (provision) benefit (3,009) (51) (2,720) 1,012
Total net unrealized (depreciation) appreciation on investments, net of tax (847) 2,467 (14,574) 9,906
Net realized and unrealized (losses) gains on investments (13,652) (5,375) (36,957) (10,328)
Realized loss on extinguishment of debt (387) 0 (387) (361)
Realized loss on disposal of fixed assets (9) 0 (9) 0
Net increase in net assets from operations $ 16,268 $ 23,484 $ 52,987 $ 69,920
Pre-tax net investment income per share - basic (in usd per share) $ 0.64 $ 0.72 $ 1.95 $ 2.05
Net investment income per share – basic (in usd per share) 0.63 0.70 1.92 2.04
Net increase in net assets from operations – basic (in usd per share) 0.34 0.57 1.13 1.77
Net increase in net assets from operations – diluted (in usd per share) $ 0.34 $ 0.57 $ 1.12 $ 1.77
Weighted average shares outstanding – basic (in shares) 48,315,228 41,513,773 47,079,617 39,610,643
Weighted average shares outstanding – diluted (in shares) 54,121,844 41,513,773 49,022,194 39,610,643
Non-control/Non-affiliate investments        
Interest income:        
Interest income $ 37,789 $ 33,627 $ 114,346 $ 97,924
Payment-in-kind interest income:        
Payment-in-kind interest income 2,717 3,452 7,025 5,329
Dividend income:        
Dividend income 586 2,447 3,525 3,233
Fee income:        
Fee income 3,671 1,655 6,589 2,949
Realized (loss) gain        
Realized (loss) gain (12,889) (7,849) (22,374) (13,445)
Net unrealized (depreciation) appreciation on investments        
Net unrealized (depreciation) appreciation on investments (5,229) 8,569 (19,455) 4,648
Affiliate investments        
Interest income:        
Interest income 4,767 4,214 14,253 12,691
Payment-in-kind interest income:        
Payment-in-kind interest income 529 621 1,670 1,926
Dividend income:        
Dividend income 0 96 51 187
Fee income:        
Fee income 525 115 1,443 632
Realized (loss) gain        
Realized (loss) gain 84 0 251 (6,503)
Net unrealized (depreciation) appreciation on investments        
Net unrealized (depreciation) appreciation on investments 7,745 (6,829) 7,193 1,302
Control investments        
Interest income:        
Interest income 333 0 975 0
Dividend income:        
Dividend income 0 2,129 0 6,439
Fee income:        
Fee income 8 17 75 62
Realized (loss) gain        
Realized (loss) gain 0 0 (260) 0
Net unrealized (depreciation) appreciation on investments        
Net unrealized (depreciation) appreciation on investments $ (354) $ 778 $ 408 $ 2,944