v3.26.1
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Investment income:    
Interest from cash and cash equivalents $ 583 $ 1,008
Total investment income 98,215 107,517
Operating expenses:    
Management fees 14,932 14,985
Incentive fee on income 7,437 8,996
Interest and debt fees 34,566 33,852
Professional fees 1,875 2,134
Other general and administrative 2,238 1,793
Administrative services 216 220
Directors' fees 258 258
Total expenses 61,522 62,238
Net investment income (loss) before income taxes 36,693 45,279
Income tax expense, including excise tax 144 355
Net investment income (loss) 36,549 44,924
Net realized gain (loss)    
Net realized gain (loss) from investments (32,798) 3,463
Net realized gain (loss) on derivatives (19) (11)
Total net realized gain (loss) (32,817) 3,452
Net change in unrealized appreciation (depreciation) on investments    
Net change in deferred taxes 2,958 (2,047)
Net change in unrealized appreciation (depreciation) on derivatives 143 (238)
Total net change in unrealized appreciation (depreciation) on investments 14,739 (23,517)
Net realized and unrealized gain (loss) (18,078) (20,065)
Net increase (decrease) in net assets resulting from operations attributable to common stockholders and participating securities 18,471 24,859
Accretion to redemption value of Series A redeemable convertible preferred stock (5) (5)
Accrual of Series A redeemable convertible preferred stock distributions (1,226) (1,686)
Net increase (decrease) in net assets resulting from operations attributable to common stockholders $ 17,240 $ 23,168
Net investment income (loss) (in dollars per share) $ 0.27 $ 0.33
Net increase (decrease) in net assets resulting from operations attributable to common stockholders and participating securities (in dollars per share) 0.14 0.18
Basic earnings (loss) per share (in dollar per share) 0.13 0.17
Diluted earnings (loss) per share (in dollar per share) $ 0.13 $ 0.17
Weighted average common shares outstanding, basic (in shares) 135,487,474 135,597,814
Weighted average common shares outstanding, diluted (in shares) 135,487,474 135,597,814
Controlled    
Investment income:    
Interest income $ 6,816 $ 6,030
Dividend income 10,675 16,377
Total investment income 17,491 22,407
Net realized gain (loss)    
Net realized gain (loss) from investments (33,020) (164)
Net change in unrealized appreciation (depreciation) on investments    
Net change in unrealized appreciation (depreciation) on investments 37,963 (5,641)
Affiliated    
Investment income:    
Interest income 626 735
Total investment income 626 735
Net realized gain (loss)    
Net realized gain (loss) from investments (447) 137
Net change in unrealized appreciation (depreciation) on investments    
Net change in unrealized appreciation (depreciation) on investments (434) (1,573)
Non-affiliated    
Investment income:    
Interest income 78,782 82,451
Dividend income 330 303
Fee and other income 403 613
Total investment income 79,515 83,367
Net realized gain (loss)    
Net realized gain (loss) from investments 669 3,490
Net change in unrealized appreciation (depreciation) on investments    
Net change in unrealized appreciation (depreciation) on investments $ (25,891) $ (14,018)