Q4 2025 Saratoga Investment Corp Earnings Call Transcript

May 8, 2025 / 05:00 PM GMT

Release Date Price: $22.72 (-7.94%)

Transcript 8-K10-K

Key Points

Positve

Saratoga Investment Corp (SAR) reported a net positive origination from its pipeline, including new portfolio companies and follow-ons.
The company announced a transition to a monthly dividend structure, increasing the quarterly base dividend by $0.01 per share.
Saratoga Investment Corp (SAR) maintained a substantial $428 million of investment capacity to support portfolio companies.
The company's total return for the last 12 months was 26%, outperforming the BDC index's 13% for the same period.
Saratoga Investment Corp (SAR) has a strong balance sheet with $205 million in cash available for investments or debt repayment.

Negative

Adjusted Net Investment Income (NII) decreased by 37.2% from last year and 35.4% from last quarter.
The company's NAV per share decreased from $27.12 last year to $25.86 this quarter.
Saratoga Investment Corp (SAR) faced markdowns in its portfolio, resulting in a $7.6 million reduction in portfolio value.
The company has two investments on non-accrual status, Pepper Palace and Zalidge, which continue to be a concern.
The lower middle market deal volumes remain significantly down, impacting new platform investments.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

SAR.N - Saratoga Investment Corp
Q4 2025 Saratoga Investment Corp Earnings Call
May 08, 2025 / 05:00PM GMT

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Presentation
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Unidentified_1 [1]
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Good morning, ladies and gentlemen.

Thank you for standing by and welcome to Saratoga Investment Corporation's fiscal year end and 4th quarter 2025 financial results conference call. Please note that today's call is being recorded. During today's presentation, all participant parties will be In a listen-only mode following management's prepared remarks, we will open the line for questions at this time, I would like to turn the call over to Saratoga Investments Cor Corporation's Chief Financial Officer and Chief Compliance Officer, Mr. Henry Steenkamp.

Sir, please go ahead.

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Unidentified_2 [2]
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