Private Credit Portfolio Analysis | Audax Credit BDC Inc. Reports FY 2024 Results
- Editor
- Mar 24
- 2 min read
Whats New:
Audax Credit BDC Inc. has reported its financial results for the fiscal year 2024, showing growth in total assets and investments at fair value. The fund's total assets increased to $433.16 million as of December 31, 2024, up from $413.46 million at the end of 2023. Investments owned at fair value rose to $410.03 million from $387.19 million in the previous year.
Portfolio Dynamics:
Total assets grew to $433.16 million as of December 31, 2024, compared to $413.46 million at the end of 2023.
Investments owned at fair value increased to $410.03 million, up from $387.19 million at the end of 2023.
Cash and cash equivalents decreased to $19.74 million from $20.94 million at the end of 2023.
Investment Activty:
Receivable from investment sales decreased to $412,083 from $2.80 million at the end of 2023.
Interest receivable increased to $2.87 million from $2.50 million at the end of 2023.
Receivable from bank loan repayment rose to $110,318 from $25,710 at the end of 2023.
Capital Structure:
Stockholders' equity grew to $426.64 million from $409.08 million at the end of 2023.
Common stock value increased to $47,020 from $44,519 at the end of 2023.
Additional paid-in capital rose to $442.40 million from $420.44 million at the end of 2023.
Performance Profile:
Net asset value per share decreased to $9.07 as of December 31, 2024, compared to $9.19 at the end of 2023.
Retained earnings deficit increased to $15.80 million from $11.40 million at the end of 2023.
Total liabilities increased to $6.52 million from $4.38 million at the end of 2023.
Risk & Quality:
Payable for investments purchased increased to $4.82 million from $2.46 million at the end of 2023.
Fees due to investment advisor decreased to $1.20 million from $1.28 million at the end of 2023.
Accounts payable and accrued liabilities decreased to $432,243 from $575,297 at the end of 2023.
The Wrap:
Audax Credit BDC Inc. demonstrated growth in total assets and investments at fair value in fiscal year 2024, with increases in stockholders' equity and additional paid-in capital. However, the fund experienced a decrease in net asset value per share and an increase in retained earnings deficit. The changes in various receivables and payables suggest active portfolio management, while the increase in total liabilities indicates higher costs associated with the fund's operations.
Comments