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MENLO PARK, Calif. - Runway Growth Finance Corp. (NASDAQ:RWAY) reported first quarter earnings that exceeded analyst expectations, as the specialty finance company saw solid investment income despite a challenging environment. Shares rose 0.2% following the release.
The company reported net investment income of $15.6 million, or $0.42 per share, for the quarter ended March 31, 2025. This topped the analyst consensus estimate of $0.37 per share. Total (EPA:TTEF) investment income came in at $35.4 million, above expectations of $33.27 million.
Runway Growth’s investment portfolio had a fair value of $1.0 billion across 52 companies at quarter-end. The portfolio generated a dollar-weighted annualized yield on debt investments of 15.44%.
"For the first quarter, we delivered net investment income of $15.6 million, comfortably covered our quarterly distributions, and executed on three investments in existing portfolio companies," said CEO David Spreng.
The company declared a regular quarterly dividend of $0.33 per share and a supplemental dividend of $0.02 per share, both payable on June 3, 2025.
Total investment income declined 11.5% YoY from $40.0 million in Q1 2024. Net investment income per share fell from $0.46 in the prior year quarter.
Runway Growth ended the quarter with $315.4 million in available liquidity, including $18.4 million in cash and $297.0 million in undrawn credit facility capacity.
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