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Fidus Investment Corporation (FDUS+2.47%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing details the company's financial performance, including total investment income of $146.1 million for 2024, which represents a 12.3% increase from $130.1 million in 2023. This increase was primarily due to higher interest income and dividend income.
Fidus reported total expenses of $71.5 million for the year, up from $65.0 million in 2023, with interest and financing expenses contributing significantly to this increase.
Net investment income for 2024 was $74.6 million, reflecting a 14.6% increase from the previous year. The company also reported a net realized gain on investments of $11.6 million.
As of December 31, 2024, Fidus had investments in 87 active portfolio companies with a fair value of $1.1 billion. The weighted average yield on the company's debt investments was 13.3%.
The company continues to leverage its SBIC licenses, with Fund III and Fund IV having total leverage commitments of $175.0 million each from the SBA.
Fidus maintains a diversified portfolio across various industries and regions, with significant investments in information technology services, business services, and healthcare products.
The report highlights Fidus's liquidity position, noting $57.2 million in cash and cash equivalents and access to a $140.0 million credit facility.
Fidus has an open market stock repurchase program and an at-the-market program for issuing additional shares, with $115.0 million available under the latter as of the end of 2024.
The filing also discusses the company's risk management practices, including its investment rating system and the impact of market conditions on its portfolio.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Fidus Investment Corporation annual 10-K report dated March 6, 2025. To report an error, please email earnings@qz.com.