PIAC Research | Milton Maxwell

PIAC

Princeton Capital Corporation

0.0670

+0.0000+0%

Dec 16, 4:00:00 PM EST

Upcoming Earnings

Report date

≈ -/-

Earnings Call Transcripts

This Quarter (Q4 '25)

No earnings call transcript available yet

Last Quarter (Q3 '25)

No earnings call transcript available

Key Stats

Market Cap

8.07M

P/E (TTM)

Basic EPS (TTM)

-0.05

Dividend Yield

Recent Filings

10-Q

Q3 FY2025 results

11/13/25Nov 13, 2025

Princeton Capital's Q3 FY2025 investment income plunged 92% y/y to $25,734 amid non-accrual loans, while expenses dipped 7% to $326,235, yielding a net investment loss of $(309,803) versus $(26,938). Portfolio fair value fell to $16.7M from $19.2M at year-end (derived), driven by $(2.9M) unrealized losses in control investments like Rockfish Seafood (42% of net assets) yet offset by $340K gains at Performance Alloys; NAV per share slipped to $0.145. Cash stands at $535K with no debt. Strategic alternatives process drags on. Illiquid holdings amplify valuation risks.

10-Q

Q2 FY2025 results

8/13/25Aug 13, 2025

Princeton Capital's Q2 FY2025 results showed investment income plunging 91% y/y to $27K from muted portfolio yields, while operating expenses dipped 10% y/y to $363K, yielding a net investment loss of $336K—worse than the prior year's $83K shortfall. Unrealized losses narrowed to $179K from a $1.1M hit, but NAV slipped to $0.153 per share from $0.175 at year-end. Cash dwindled to $711K with negative operating cash flow of $580K (derived), yet no debt burdens the balance sheet. Portfolio fair value fell 10% q/q to $17.4M, concentrated in casual dining (46%) and staffing (21%). Strategic alternatives hunt drags on. Portfolio illiquidity poses exit risks.

10-Q

Q1 FY2025 results

5/15/25May 15, 2025

Princeton Capital's Q1 FY2025 results show investment income plunging 77% y/y to $72K from $317K, driven by non-accrual loans in staffing and nickel pipe segments, while expenses edged up 6% y/y to $420K on higher audit and admin costs, yielding a net investment loss of $348K versus $82K last year. Unrealized losses narrowed sharply to $1.7M from $6.6M, mainly from control investments like Rockfish Seafood Grill, lifting NAV to $0.158 from $0.175 q/q. Cash dipped to $1.2M with negative operating cash flow of $101K (derived), but no debt burdens liquidity. Strategic alternatives process drags on. Portfolio valuations hinge on volatile unobservable inputs.

10-K

FY2024 results

4/1/25Apr 1, 2025

Princeton Capital Corporation's FY2024 results showed a sharp downturn, with total investments dropping to $19.2M from $29.7M in FY2023, driven by $5.5M realized losses and $5.2M unrealized losses, yielding a $10.9M net decrease in net assets (down 34% to $21.0M). Q4 2024 accelerated the slide, posting a $2.1M operational loss amid non-accrual loans in three of four portfolio companies, while interest income fell 48% y/y to $1.3M annually, reflecting covenant defaults at key holdings like Performance Alloys. Yet, segments like casual dining (Rockfish) held steady at 46% of the portfolio, buoyed by sequential revenue gains. Liquidity stood at $1.3M cash with no debt, and no dividends or buybacks occurred. No annual guidance was provided amid the ongoing strategic review. Portfolio concentration in illiquid assets risks further quarterly erosion if defaults persist.

8-K

Restates 2023 statements for subsidiary errors

1/14/25Jan 14, 2025

Princeton Capital Corporation disclosed on January 8, 2025, that its 2023 audited financial statements require restatement due to errors in Note 10's summarized data for unconsolidated subsidiary Advantis Certified Staffing Solutions. The issues—omitted receivable write-offs of $285,425, net liability increases of $373,996 including litigation provisions, and improper inclusion of $1.952 million in intercompany transactions—slash Advantis's reported net income from $3.1 million to about $0.5 million. No impact hits the company's overall financials, valuations, or liquidity. An amended 10-K/A follows soon.

About

Princeton Capital Corporation is a business development company specializing in the private equity investments. The fund specializes in making investments in lower middle market in form of mezzanine, mezzanine debt, first lien loans, equity co-investment, second lien loans, warrants, notes, bonds, subordinated debt, leverage buyouts, add on acquisitions, recapitalization, refinancing, strategic growth, growth financing and debt financing investments. It focuses on sponsored deals and non-sponsored deals. It prefers to invest in variety of industries. It typically invests in the United States region. The fund seeks to invest between $1 million and $5 million per transaction. It seeks to invest in companies with sales more than $35 million. It seeks to invest in companies with EBITDA between $3 million and $20 million. It takes minority equity and equity co-Investments.

CEO

Mr. Mark S. DiSalvo

IPO

7/19/1994

Website

https://www.princetoncapitalcorp.com

Sector

Financial Services

Industry

Asset Management