v3.26.1
Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Investment income:        
Interest income $ 20,837 $ 16,371 $ 41,350 $ 30,090
PIK interest income 1,337 789 2,624 1,519
Other income 71 176 88 360
Total investment income 22,245 17,336 44,062 31,969
Expenses:        
Interest and borrowing expenses 7,867 7,221 15,873 13,558
Investment income incentive fees 1,481 962 2,871 1,767
Management fees 1,312 913 2,507 1,639
Professional fees 470 574 1,027 1,130
Administration fees 190 129 377 254
Capital gains incentive fee [1] (259) 0 (501) 0
Other general and administrative expenses 558 804 1,310 1,251
Total expenses 11,619 10,603 23,464 19,599
Net investment income 10,626 6,733 20,598 12,370
Net realized gain (loss):        
Non-controlled, non-affiliated investments 74 0 74 0
Foreign currency transactions (2) 0 (2) 0
Net realized gain (loss) 72 0 72 0
Net change in unrealized appreciation (depreciation):        
Non-controlled, non-affiliated investments (2,356) 996 (4,150) 2,850
Foreign currency transactions (15) 0 (136) 0
Net change in unrealized appreciation (depreciation) (2,371) 996 (4,286) 2,850
Net realized and unrealized gain (loss) (2,299) 996 (4,214) 2,850
Net increase (decrease) in net assets resulting from operations $ 8,327 $ 7,729 $ 16,384 $ 15,220
Per share information - basic and diluted        
Net investment income (loss) per share (basic) (in dollars per share) $ 0.40 $ 0.37 $ 0.80 $ 0.75
Net investment income (loss) per share (diluted) (in dollars per share) 0.40 0.37 0.80 0.75
Net increase (decrease) in net assets resulting from operations per share (basic) (in dollars per share) 0.31 0.43 0.65 0.92
Net increase (decrease) in net assets resulting from operations per share (diluted) (in dollars per share) $ 0.31 $ 0.43 $ 0.65 $ 0.92
Weighted average shares of common stock outstanding (basic) (in shares) 26,834,220 18,064,572 25,696,777 16,579,232
Weighted average shares of common stock outstanding (diluted) (in shares) 26,834,220 18,064,572 25,696,777 16,579,232
[1] Capital gains incentive fees displayed above represents the reversals of previously accrued capital gains incentive fees which is based on a hypothetical liquidation basis in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for the three and six month periods ended June 30, 2026 (see Note 3).