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Runway Growth Finance (RWAY) - 2024 Q4 - Annual Results
RWAYRunway Growth Finance (RWAY)2025-03-20 20:10

Investment Income - Total investment income for Q4 2024 was 33.8million,downfrom33.8 million, down from 39.2 million in Q4 2023[6] - Net investment income for Q4 2024 was 14.6million,or14.6 million, or 0.39 per share, compared to 18.3million,or18.3 million, or 0.45 per share, in Q4 2023[6] - Investment income for the year ended December 31, 2024, totaled 144,632,000,downfrom144,632,000, down from 164,209,000 in 2023, a decrease of 11.9%[35] Portfolio and Assets - The investment portfolio had a fair value of approximately 1.1billion,consistingof56portfoliocompanies[10]−Totalassetsincreasedto1.1 billion, consisting of 56 portfolio companies[10] - Total assets increased to 1,091,355,000 as of December 31, 2024, compared to 1,079,153,000in2023,reflectingagrowthof1.91,079,153,000 in 2023, reflecting a growth of 1.9%[33] - Total investments at fair value rose to 1,076,840,000 from 1,067,009,000,markinganincreaseof0.71,067,009,000, marking an increase of 0.7% year-over-year[33] Debt and Financing - Total debt, less unamortized deferred financing costs, increased to 552,332,000 from 510,078,000,anincreaseof8.3510,078,000, an increase of 8.3%[33] - The dollar-weighted annualized yield on debt investments for Q4 2024 was 14.7%[7] Shareholder Returns - The company declared a regular dividend of 0.33 per share and a supplemental dividend of 0.03pershareforQ12025[15]−Thecompanyrepurchased555,104sharesofcommonstockduringQ42024[5]NetAssetValue−Netassetvalue(NAV)pershareincreasedto0.03 per share for Q1 2025[15] - The company repurchased 555,104 shares of common stock during Q4 2024[5] Net Asset Value - Net asset value (NAV) per share increased to 13.79 as of December 31, 2024, from 13.50ayearearlier[12]−Thenetassetvaluepershareincreasedto13.50 a year earlier[12] - The net asset value per share increased to 13.79 from 13.50,representingagrowthof2.113.50, representing a growth of 2.1%[33] Operational Performance - Net increase in net assets resulting from operations for the year ended December 31, 2024, was 73,609,000, compared to 44,341,000in2023,anincreaseof66.144,341,000 in 2023, an increase of 66.1%[35] - Management fees for the three months ended December 31, 2024, were 3,931,000, a decrease from 4,113,000in2023,downby4.44,113,000 in 2023, down by 4.4%[35] - The weighted average shares outstanding decreased to 37,465,536 from 40,509,269, a reduction of 7.5%[35] Investment Gains - The company reported a net realized and unrealized gain on investments of 13,601,000 for the three months ended December 31, 2024, compared to a loss of 23,102,000in2023[35]Liquidity−Thecompanyhadapproximately23,102,000 in 2023[35] Liquidity - The company had approximately 244.8 million in available liquidity as of December 31, 2024[14] Strategic Initiatives - The combination with BC Partners Credit is expected to diversify the company's portfolio and enhance investment opportunities[4]