Private Credit Portfolio Analysis | Fidus Investment Corp Reports Q1 2025 Results
- Editor
- May 8
- 2 min read
Whats New:
Fidus Investment Corp reported its Q1 2025 financial results, showing growth in total assets and stockholders' equity compared to the previous quarter. The fund's total assets increased to $1.24 billion as of March 31, 2025, up from $1.16 billion at the end of 2024. Net asset value per share rose slightly to $19.39, while the fund also reported increased debt levels.
Portfolio Dynamics:
Total assets grew to $1.24 billion as of March 31, 2025, compared to $1.16 billion at the end of 2024.
Investments owned at fair value increased to $1.15 billion, up from $1.09 billion at the end of 2024.
Cash and cash equivalents rose to $67.48 million from $57.16 million at the end of 2024.
Investment Activity:
Interest receivable increased to $18.40 million from $15.12 million at the end of 2024.
Proceeds receivable from stock offering reported at $701,000 as of March 31, 2025.
Prepaid expenses and other assets decreased to $991,000 from $1.33 million at the end of 2024.
Capital Structure:
Total liabilities increased to $564.05 million from $508.45 million at the end of 2024.
Notes payable rose significantly to $345.56 million from $248.36 million at the end of 2024.
Stockholders' equity grew to $677.93 million from $655.67 million at the end of 2024.
Performance Profile:
Net asset value per share increased to $19.39 as of March 31, 2025, compared to $19.33 at the end of 2024.
Retained earnings grew to $89.38 million from $88.47 million at the end of 2024.
Additional paid-in capital increased to $588.52 million from $567.16 million at the end of 2024.
Risk & Quality:
Capital gains incentive fee payable due to affiliate increased to $14.99 million from $14.70 million at the end of 2024.
Income incentive fees payable due to affiliate rose to $4.59 million from $4.48 million at the end of 2024.
Taxes payable decreased to $325,000 from $1.85 million at the end of 2024.
The Wrap:
Fidus Investment Corp demonstrated growth in Q1 2025, with increases in total assets, investments at fair value, and stockholders' equity. The fund's net asset value per share improved slightly, reflecting positive performance. However, the significant increase in notes payable and various fee payables suggests higher costs and increased leverage associated with the fund's expanded operations and investment activities.
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