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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Fee income:    
Other income $ 287 $ 542
Total investment income 55,947 51,354
Compensation 3,956 3,466
Share-based compensation 1,143 1,224
Interest 15,264 12,447
Professional fees 1,210 1,357
General and administrative 1,657 1,574
Total operating expenses 23,230 20,068
Income before taxes 32,717 31,286
Federal income, excise and other taxes 1,099 217
Deferred taxes (271) 2,210
Total income tax provision 828 2,427
Net investment income 31,889 28,859
Realized gain (loss)    
Income tax (provision) benefit (6,229) 0
Total net realized gain (loss) on investments, net of tax 15,704 711
Net unrealized (depreciation) appreciation on investments    
Income tax benefit 3,588 276
Total net unrealized (depreciation) appreciation on investments, net of tax (20,592) (15,535)
Net realized and unrealized (losses) gains on investments (4,888) (14,824)
Net increase in net assets from operations $ 27,001 $ 14,035
Pre-tax net investment income per share - basic (in usd per share) $ 0.61 $ 0.69
Net investment income (in usd per share) 0.59 0.63
Net investment income per share – basic (in usd per share) 0.50 0.31
Net increase in net assets from operations - diluted (in usd per share) $ 0.48 $ 0.31
Weighted average common shares outstanding – basic (in shares) 53,516,995 45,665,387
Weighted average common shares outstanding – diluted (in shares) 62,777,430 45,665,387
Non-control/Non-affiliate investments    
Interest income:    
Interest income $ 41,238 $ 37,936
Payment-in-kind interest income:    
Payment-in-kind interest income 2,076 2,473
Dividend income:    
Dividend income 1,608 2,367
Fee income:    
Fee income 1,396 1,964
Realized gain (loss)    
Realized gain (loss) 17,846 804
Net unrealized (depreciation) appreciation on investments    
Net unrealized (depreciation) appreciation on investments (22,062) (12,360)
Affiliate investments    
Interest income:    
Interest income 5,256 4,759
Payment-in-kind interest income:    
Payment-in-kind interest income 953 578
Dividend income:    
Dividend income 2,045 51
Fee income:    
Fee income 189 334
Realized gain (loss)    
Realized gain (loss) 4,087 167
Net unrealized (depreciation) appreciation on investments    
Net unrealized (depreciation) appreciation on investments 1,058 (4,221)
Control investments    
Interest income:    
Interest income 621 292
Payment-in-kind interest income:    
Payment-in-kind interest income 231 0
Dividend income:    
Dividend income 24 0
Fee income:    
Fee income 23 58
Realized gain (loss)    
Realized gain (loss) 0 (260)
Net unrealized (depreciation) appreciation on investments    
Net unrealized (depreciation) appreciation on investments $ (3,176) $ 770