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        
Payment-in-kind ("PIK") interest income $ 2,490 $ 3,682 $ 5,181 $ 8,029
Total Investment Income 24,525 51,804 59,774 104,533
Operating Expenses        
Interest expense 16,181 16,967 30,260 34,808
Management fees, net [1] 2,974 6,858 7,631 14,171
Performance based incentive fees 0 4,416 0 8,763
Professional fees 1,607 1,156 2,659 2,218
Directors' fees 198 198 395 395
Other general and administrative 1,510 1,061 2,959 2,006
Total Operating Expenses 22,470 30,656 43,904 62,361
Net Investment Income (Loss) Before Taxes 2,055 21,148 15,870 42,172
Income tax expense (benefit), including excise tax expense (benefit) 343 327 637 857
Net Investment Income (Loss) 1,712 20,821 15,233 41,315
Net change in unrealized gain (loss):        
Net change in unrealized gain (loss)     (19,039) (4,833)
Income tax (provision) benefit (21) 80 23 (85)
Translation of assets and liabilities in foreign currencies 75 1,538 (847) 2,286
Total Net Change in Unrealized Gain (Loss) (15,169) (18,819) (19,863) (2,632)
Net realized gain (loss):        
Foreign currency transactions 381 37 491 (21)
Total Net Realized Gain (Loss) (8,062) 3,792 (21,332) (18,691)
Total Net Realized and Change in Unrealized Gain (Loss) (23,231) (15,027) (41,195) (21,323)
Net Increase (Decrease) in Net Assets Resulting from Operations $ (21,519) $ 5,794 $ (25,962) $ 19,992
Earnings Per Share - Basic (in usd per share) $ (0.19) $ 0.05 $ (0.22) $ 0.15
Earnings Per Share - Diluted (in usd per share) $ (0.19) $ 0.05 $ (0.22) $ 0.15
Weighted Average Shares Outstanding - Basic (in shares) 115,645,897 124,932,039 115,487,020 126,445,224
Weighted Average Shares Outstanding - Diluted (in shares) 115,645,897 124,932,039 115,487,020 126,445,224
Investment income from non-controlled, non-affiliated investments:        
Investment Income        
Interest income $ 15,328 $ 43,368 $ 42,997 $ 86,363
Payment-in-kind ("PIK") interest income 2,490 3,682 5,181 8,029
Dividend income 2,984 3,559 6,802 7,668
Other income 3,061 569 3,359 1,121
Total Investment Income 23,863 51,178 58,339 103,181
Net change in unrealized gain (loss):        
Net change in unrealized gain (loss) (15,386) (20,290) (30,242) (3,776)
Net realized gain (loss):        
Net realized gain (loss): (8,475) 3,755 (10,746) (18,670)
Non-controlled, affiliated investments        
Investment Income        
Interest income 428 410 796 794
Dividend income 225 201 622 539
Other income 3 3 6 6
Total Investment Income 656 614 1,424 1,339
Net change in unrealized gain (loss):        
Net change in unrealized gain (loss) 170 (153) 11,229 (1,054)
Net realized gain (loss):        
Net realized gain (loss): 32 0 (11,077) 0
Investment income from controlled, affiliated investments:        
Investment Income        
Dividend income 6 12 11 13
Other income     0  
Total Investment Income 6 12 11 13
Net change in unrealized gain (loss):        
Net change in unrealized gain (loss) $ (7) $ 6 (26) $ (3)
Net realized gain (loss):        
Net realized gain (loss):     $ 0  
[1] Refer to “Note 3 — Agreements and Related Party Transactions” for additional details on management fee waiver.