v3.26.1
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Investment income:        
PIK income $ 6,850 $ 5,189 $ 13,331 $ 10,568
Other income 866 1,451 3,461 2,402
Total investment income 62,085 67,281 126,164 122,145
Expenses:        
Base management fees (Note 4) 8,643 8,665 17,429 16,274
Incentive fees (Note 4) 5,125 5,934 10,473 10,334
Professional fees 1,001 1,015 2,098 1,730
Administrative service fees (Note 4) 649 498 1,131 904
Interest expense and credit facility fees (Note 9) 21,284 21,727 43,054 40,330
Directors’ fees and expenses 200 188 387 336
Other general and administrative 507 624 1,271 1,302
Total expenses 37,409 38,651 75,843 71,210
Net investment income (loss) before taxes 24,676 28,630 50,321 50,935
Excise tax expense 680 380 1,121 1,056
Net investment income (loss) 23,996 28,250 49,200 49,879
Net realized gain (loss) on investments:        
Net realized gain (loss) on investments     (11,275) (21,886)
Net realized currency gain (loss) on non-investment assets and liabilities 259 229 123 (367)
Net realized gain (loss) on forward currency contracts 0 (2,471) 0 313
Net change in unrealized appreciation (depreciation) on investments:        
Net change in unrealized appreciation (depreciation) on investments     (48,858) 13,185
Net change in unrealized currency gain (loss) on non-investment assets and liabilities 1,772 (9,404) 5,767 (10,743)
Net change in unrealized gain (loss) on forward currency contracts 765 1,495 765 (1,697)
Net realized gain (loss) and net change in unrealized appreciation (depreciation) on investments, non-investment assets and liabilities, and forward currency contracts (24,056) (13,620) (53,478) (21,195)
Net increase (decrease) in net assets resulting from operations (60) 14,630 (4,278) 28,684
Preferred stock dividend 0 0 0 826
Net increase (decrease) in net assets resulting from operations attributable to Common Stockholders $ (60) $ 14,630 $ (4,278) $ 27,858
Basic and diluted earnings per common share (Note 11)        
Basic (in dollars per share) $ 0.00 $ 0.20 $ (0.06) $ 0.45
Diluted (in dollars per share) $ 0.00 $ 0.20 $ (0.06) $ 0.44
Weighted average shares of common stock outstanding (Note 11)        
Basic (in shares) 69,542,646 72,902,981 70,221,506 62,475,544
Diluted (in shares) 69,542,646 72,902,981 70,221,506 65,168,847
Non-controlled/non-affiliated        
Investment income:        
Interest income $ 45,530 $ 54,258 $ 94,021 $ 95,397
PIK income 5,665 5,189 10,872 10,056
Other income 864 1,449 3,457 2,398
Total investment income 52,059 60,896 108,350 107,851
Net realized gain (loss) on investments:        
Net realized gain (loss) on investments (1,793) (357) (11,275) (7,384)
Net change in unrealized appreciation (depreciation) on investments:        
Net change in unrealized appreciation (depreciation) on investments (17,396) 457 (40,958) (139)
Non-controlled/affiliated        
Investment income:        
Interest income 807 1,383 1,449 2,224
PIK income 1,185 0 2,459 512
Other income 2 2 4 4
Dividend income 2,282 0 2,584 0
Total investment income 4,276 1,385 6,496 2,740
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 (8,433) (2,342) (8,539) (803)
Controlled/affiliated        
Investment income:        
Interest income 0 0 568 0
Dividend income 5,750 5,000 10,750 11,554
Total investment income 5,750 5,000 11,318 11,554
Net realized gain (loss) on investments:        
Net realized gain (loss) on investments 0 0 0 (14,502)
Net change in unrealized appreciation (depreciation) on investments:        
Net change in unrealized appreciation (depreciation) on investments $ 770 $ (1,227) $ 639 $ 14,127