Q2 2025 Fidus Investment Corp Earnings Call Transcript
Key Points
- Fidus Investment Corp (FDUS) reported an increase in adjusted net investment income (NII) to $20 million for Q2 2025, up from $18.4 million in Q2 2024.
- The company declared a total dividend of $0.57 per share for Q3 2025, which includes a supplemental dividend, reflecting strong financial performance.
- Net asset value grew slightly to $692.3 million at the end of Q2 2025, indicating a stable financial position.
- The debt portfolio continues to perform well, generating high levels of current and recurring income.
- The portfolio remains well diversified with a focus on high-quality companies, maintaining a low non-accrual rate under 1% on a fair value basis.
- Fidus Investment Corp (FDUS) realized a net loss of $7.6 million during the quarter, primarily due to a $14.4 million loss on the exit of Quantum IR Technologies.
- Economic and tariff policy uncertainty dampened M&A activity during the quarter, impacting new investment opportunities.
- The competitive environment remains challenging, with increased competitiveness over the past two years.
- Total expenses increased by $3.1 million over Q1 2025, driven by higher capital gains incentive fees and interest expenses.
- The company experienced a decrease in dividend income from equity investments, contributing to the overall financial challenges.
Good morning, everyone and welcome to the Fidus second-quarter 2025 earnings conference call.
(Operator Instructions)
Please note that this event is being recorded.
I would now like to turn the conference over to Jody Burfening. Please go ahead, ma'am.
Thank you, Cole, and good morning, everyone and thank you for joining us for Fidus Investment Corporation's second quarter 2025 earnings conference call.
With me this morning are Ed Ross, Fidus Investment Corporation's Chairman and Chief Executive Officer; and Shelby Sherard, Chief Financial Officer.
Fidus Investment Corporation issued a press release yesterday afternoon with the details of the company's quarterly financial results. The copy of the press release is available on the Investor Relations page of the company's website at fdus.com. I'd also like to call your attention to the customary Safe Harbor disclosure regarding forward-looking information included on
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