Private Credit Portfolio Analysis | Audax Credit BDC Reports Q1 2025 Results
- Editor
- May 13
- 2 min read
Whats New:
Audax Credit BDC Inc. reported its Q1 2025 financial results, showing a slight decrease in total assets and net asset value per share compared to the previous quarter. The fund's total assets decreased to $426.8 million as of March 31, 2025, down from $433.2 million at the end of 2024. The net asset value per share also declined to $9.02 from $9.07 at the end of the previous quarter.
Portfolio Dynamics:
Total assets decreased to $426.8 million as of March 31, 2025, compared to $433.2 million at the end of 2024.
Investments owned at fair value slightly decreased to $408.2 million from $410.0 million at the end of 2024.
Cash and cash equivalents declined to $15.4 million from $19.7 million at the end of 2024.
Investment Activity:
Receivable from investment sale decreased to $0 from $412,083 at the end of 2024.
Receivable from bank loan repayment increased to $120,737 from $110,318 at the end of 2024.
Other assets increased to $238,554 from $0 at the end of 2024.
Capital Structure:
Total liabilities decreased to $2.7 million from $6.5 million at the end of 2024.
Stockholders' equity decreased to $424.1 million from $426.6 million at the end of 2024.
Common stock shares outstanding slightly increased to 47,020,457 from 47,020,454 at the end of 2024.
Performance Profile:
Net asset value per share decreased to $9.02 as of March 31, 2025, compared to $9.07 at the end of 2024.
Retained earnings deficit increased to $18.3 million from $15.8 million at the end of 2024.
Additional paid-in capital slightly decreased to $442.4 million from $442.4 million at the end of 2024.
Risk & Quality:
Payable for investments purchased decreased to $1.1 million from $4.8 million at the end of 2024.
Fees due to investment advisor net of waivers decreased to $1.2 million from $1.2 million at the end of 2024.
Accounts payable and accrued liabilities decreased to $383,316 from $432,243 at the end of 2024.
The Wrap:
Audax Credit BDC Inc.'s Q1 2025 results show a slight contraction in total assets and net asset value per share compared to the previous quarter. The fund experienced decreases in investments at fair value and cash positions, while also reducing its liabilities. The slight increase in common stock shares outstanding and the decrease in additional paid-in capital suggest minimal capital activity during the quarter. The increase in retained earnings deficit indicates potential challenges in generating profits or distributing dividends.
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