The following is a summary of the Fidus Investment Corporation (FDUS) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Fidus Investment Corporation reported a total Q1 portfolio on a fair value basis of over $1 billion.

• Q1 net originations amounted to $85.7 million.

• The company's debt portfolio generated adjusted net investment income of $18.1 million, an increase of 21.8% compared to $14.9 million last year.

• The adjusted net investment income on a per share basis was $0.59 per share compared to $0.60 per share for the same period last year.

• The company paid Q1 dividends totaling $0.65 per share, and declared dividends totaling $0.59 per share for the second quarter of 2024.

• Net asset value grew 3.2% to $608.3 million compared to $589.5 million. On a per share basis, net asset value was $19.36 at quarter end compared to $19.37 as of December 31, 2023.

• The company ended the quarter with $463.1 million of debt outstanding, and its debt-to-equity ratio as of March 31 was 0.8x. The weighted average interest rate on outstandings was 4.6% on March 31, 2024.

Business Progress:

• In Q1, Fidus Investment Corporation invested $94.6 million in 7 new portfolio companies mostly through M&A transactions.

• The company's portfolio consisted of 87 active portfolio companies at the end of Q1.

• Non-accruals represented under 1% of the total portfolio on a fair value basis for the first quarter.

• Looking ahead, the company expects a decline in Q2 originations and sees a gradual increase in transaction activity and M&A over 2023.

• Fidus made two mezzanine investments in the last quarter and continues to actively look for such opportunities despite the market moving towards first-lien solutions.

• Current non-accruals are seeing improving EBITDAs but remain a high risk.

More details: Fidus Investment IR

Tips: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.