v3.26.1
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Investment income:    
PIK income $ 6,481 $ 5,379
Other income 2,595 951
Total investment income 64,079 54,864
Expenses    
Base management fees (Note 4) 8,786 7,609
Incentive fees (Note 4) 5,348 4,400
Professional fees 1,097 715
Administrative service fees (Note 4) 482 406
Interest expense and credit facility fees (Note 9) 21,770 18,603
Directors’ fees and expenses 187 148
Other general and administrative 764 678
Total expenses 38,434 32,559
Net investment income (loss) before taxes 25,645 22,305
Excise tax expense 441 676
Net investment income (loss) 25,204 21,629
Net realized gain (loss) on investments:    
Net realized gain (loss) on investments (9,482) (21,529)
Net realized currency gain (loss) on non-investment assets and liabilities (136) (596)
Net realized gain (loss) on forward currency contracts 0 2,784
Net change in unrealized appreciation (depreciation) on investments:    
Net change in unrealized appreciation (depreciation) on investments (23,799) 16,297
Net change in unrealized currency gain (loss) on non-investment assets and liabilities 3,995 (1,339)
Net change in unrealized gain (loss) on forward currency contracts 0 (3,192)
Net realized gain (loss) and net change in unrealized appreciation (depreciation) on investments, non-investment assets and liabilities, and forward currency contracts (29,422) (7,575)
Net increase (decrease) in net assets resulting from operations (4,218) 14,054
Preferred stock dividend 0 826
Net increase (decrease) in net assets resulting from operations attributable to Common Stockholders $ (4,218) $ 13,228
Basic and diluted earnings per common share (Note 11)    
Basic (in dollars per share) $ (0.06) $ 0.25
Diluted (in dollars per share) $ (0.06) $ 0.25
Weighted average shares of common stock outstanding (Note 11)    
Basic (in shares) 70,907,909 51,923,228
Diluted (in shares) 70,907,909 57,339,759
Non-controlled/non-affiliated    
Investment income:    
Interest income $ 48,491 $ 41,139
PIK income 5,207 4,867
Other income 2,593 949
Total investment income 56,291 46,955
Net realized gain (loss) on investments:    
Net realized gain (loss) on investments (9,482) (7,027)
Net change in unrealized appreciation (depreciation) on investments:    
Net change in unrealized appreciation (depreciation) on investments (23,562) (596)
Non-controlled/affiliated    
Investment income:    
Interest income 642 841
PIK income 1,274 512
Other income 2 2
Dividend income 302 0
Total investment income 2,220 1,355
Net realized gain (loss) on investments:    
Net realized gain (loss) on investments 0  
Net change in unrealized appreciation (depreciation) on investments:    
Net change in unrealized appreciation (depreciation) on investments (106) 1,539
Controlled/affiliated    
Investment income:    
Interest income 568 0
Dividend income 5,000 6,554
Total investment income 5,568 6,554
Net realized gain (loss) on investments:    
Net realized gain (loss) on investments 0 (14,502)
Net change in unrealized appreciation (depreciation) on investments:    
Net change in unrealized appreciation (depreciation) on investments $ (131) $ 15,354