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Runway Growth Finance Corp. (RWAY+2.64%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing includes financial statements for the year, showing total investment income of $144.6 million, a decrease from $164.2 million in the previous year. This decline was primarily due to decreased interest income and payment-in-kind interest income.
Operating expenses for the year were $80.9 million, down from $85.9 million in 2023, mainly due to decreased performance-based incentive fees and management fees.
Net investment income for the year was $63.8 million, compared to $78.3 million in 2023, reflecting the decrease in investment income.
The company reported a net realized loss on investments of $2.9 million, primarily due to losses in its senior secured term loan and convertible note to JobGet Holdings, Inc.
Net change in unrealized gain on investments was $12.8 million, attributed to increases in the fair value of certain senior secured loans and preferred stock investments.
Runway Growth Finance Corp. had net assets of $514.9 million as of December 31, 2024, with a net asset value per share of $13.79.
The company declared and paid dividends totaling $69.9 million during the year, primarily from income generated by interest and dividend income on its investments.
Runway Growth Finance Corp. had $244.8 million in available liquidity at year-end, including $5.8 million in cash and cash equivalents and $239.0 million available under its credit facility.
The filing details the company's investment strategy, focusing on senior secured loans to high growth-potential companies in technology, healthcare, and other industries, with a total investment portfolio valued at $1.08 billion at fair value.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Runway Growth Finance Corp. annual 10-K report dated March 20, 2025. To report an error, please email earnings@qz.com.