RWAY
Runway Growth Finance Corp.8.98
-0.08-0.88%
Dec 16, 4:00:01 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
SWK details, pipeline strength confirmed
Q&A fleshed out SWK details and pipeline momentum without contradicting prepared remarks. Management confirmed SWK's 13 loans at $235M fair value yielding 14% overall (16% debt), with BC Partners fueling at least one joint deal quarterly and SWK enabling upsizes. Leverage targets 1.2-1.3x post-April 6 close. Circadence improves via equity raise and DoD contract. Buybacks resume in May after blackout. CADMA JV eyes Q2 distribution. Answers reaffirmed script. Pipeline durability matters next.
Key Stats
Market Cap
324.48MP/E (TTM)
6.15Basic EPS (TTM)
1.46Dividend Yield
0.15%Recent Filings
8-K
Q4 income down, NAV slips
Runway Growth Finance reported Q4 2025 total investment income of $30.0 million and net investment income of $11.6 million ($0.32/share), down from prior year amid portfolio contraction to $927.4 million. NAV dipped to $13.42/share. Yet liquidity swelled to $395.2 million. Declared Q1 2026 dividend of $0.33/share.
10-K
FY2025 results
Runway Growth Finance Corp. closed FY2025 ended December 31, 2025 with a $927.4M portfolio at fair value, down from $1,077M in 2024 amid $287M in sales/prepayments that outpaced $150M in new/follow-on funding. Debt investments yielded 14.6% dollar-weighted (down from 14.9% y/y), generating $137M total investment income but net investment income fell to $57M from $64M as expenses held steady at $80M. Portfolio shrank sequentially with Q4 non-accruals at 0.25% of debt fair value (Mingle Healthcare); ratings held steady at 63% Category 2. Year-end liquidity stood strong at $395M ($18M cash + $377M Credit Facility availability), supporting $146M unfunded commitments while asset coverage hit 211%. No annual guidance disclosed in the 10-K. Covenant-lite loans expose quarterly momentum to borrower actions without maintenance covenants.
8-K
Q1 2026 dividend declared
Runway Growth Finance Corp. declared a first quarter 2026 regular dividend of $0.33 per share on February 25, payable March 24 to shareholders of record March 10. The BDC intends quarterly distributions of substantially all available earnings, subject to board discretion and regulatory compliance. Dividends auto-reinvest unless opted out.
8-K
Closes $103M notes, redeems higher-rate debt
Runway Growth Finance closed a $103.25M 7.25% Notes offering due 2031 on February 3, 2026, via a Third Supplemental Indenture. Proceeds will repay debt, redeeming all $51.75M 8.00% Notes and $40.25M of 7.50% Notes on March 5. Refinancing cuts costs. Notes rank pari passu with existing unsecured debt.
8-K
Issues $100M notes due 2031
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