Runway Growth Finance Corp (NAS:RWAY)

Q4 2025 Runway Growth Finance Corp Earnings Call Transcript

Mar 12, 2026 / 09:00PM GMT

Release Date Price: $7.16 (-2.32%)

Transcript 10-K8-K

Key Points

Positve

Runway Growth Finance Corp (RWAY) delivered total investment income of $30 million and net investment income of $11.6 million in the fourth quarter of 2025.
The company completed seven investments in new and existing portfolio companies, totaling $42.9 million in funded loans, across high-growth sectors like technology, healthcare, and select consumer sectors.
RWAY's pending acquisition of SWK Holdings is expected to diversify its portfolio, particularly enhancing exposure in healthcare and life sciences.
The company's pipeline is stronger than the previous year, indicating potential for growth in 2026.
RWAY's debt portfolio generated a dollar-weighted average annualized yield of 14.2% for the fourth quarter of 2025, showcasing strong returns.

Negative

Net investment income decreased from $15.7 million in the third quarter of 2025 to $11.6 million in the fourth quarter.
The weighted average portfolio risk rating increased slightly to 2.45 in the fourth quarter, indicating a marginal increase in risk.
The total investment portfolio's fair value decreased by 2% from the third quarter of 2025.
Prepayment fee income declined sequentially, contributing to the decrease in net investment income.
The company experienced a net realized loss on investments of $377,000 in the fourth quarter of 2025.

Operator

Ladies and gentlemen, thank you for standing by and welcome to the Runway Growth Finance 4th quarter and fiscal year in the 2025 earnings conference call.

Please be advised that today's conference is being recorded.

I would now like to hand the conference over to Quinlan Abel, Assistant Vice President of Vest relations. Please go ahead.

Quinlan Abel

Runway Growth Finance Corp - Assistant Vice President - Investor Relations

Thank you, operator. Good evening, everyone, and welcome to the Runway Growth Finance conference call for the 4th quarter and fiscal year ended December 31, 2025.

Joining us on the call today from Runway Growth Finance are David Spring, Chief Executive Officer, Greg Greifeld, Chief Investment Officer of Runway Growth Capital LLC, our investment advisor, and Tom Ratterman, Chief Financial Officer and Chief Operating Officer.

Runway Growth Finance's 4th quarter and fiscal year ended 2025 financial results were released just after today's market close and can be accessed from Runway Growth Finance's

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