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WhiteHorse Finance, Inc. has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing includes financial statements for the quarter, showing a decrease in total assets to $683,584,000 from $730,751,000 as of December 31, 2023. This decrease is attributed to a reduction in the fair value of investments.
Total liabilities decreased to $386,709,000 from $413,979,000, primarily due to a decrease in debt net of unamortized issuance costs.
The company reported net investment income of $9,154,000 for the quarter, compared to $10,813,000 in the same quarter of the previous year.
Net realized and unrealized losses on investments and foreign currency transactions were $16,012,000, compared to $5,214,000 in the same quarter of the previous year.
Net decrease in net assets resulting from operations was $6,858,000, compared to an increase of $5,599,000 in the previous year.
Cash provided by operating activities was $57,684,000, while cash used in financing activities was $61,517,000.
The company had a working capital of $296,875,000 as of September 30, 2024. The company acknowledges its dependence on positive operating results and potential financing to meet future obligations.
The filing details various financial agreements, including a credit facility with STRS Ohio Senior Loan Fund LLC and a joint venture with STRS Ohio.
WhiteHorse Finance does not anticipate cash dividend payments to common stockholders in the near future.
The company identified no material weaknesses in its internal controls over financial reporting.
WhiteHorse Finance continues to focus on originating senior secured loans to lower middle market companies and highlights its dependence on a few large customers for a significant portion of its sales.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the WhiteHorse Finance Inc. quarterly 10-Q report dated November 7, 2024. To report an error, please email earnings@qz.com.