Fidus Investment Corporation Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 02, 2023 at 04:08 pm EDT
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Fidus Investment Corporation reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported revenue was USD 34.19 million compared to USD 24.99 million a year ago. Net income was USD 24.3 million compared to USD 11.43 million a year ago. Basic earnings per share from continuing operations was USD 0.91 compared to USD 0.47 a year ago.
For the nine months, revenue was USD 93.8 million compared to USD 66.66 million a year ago. Net income was USD 50.7 million compared to USD 31.1 million a year ago. Basic earnings per share from continuing operations was USD 1.99 compared to USD 1.27 a year ago.
Fidus Investment Corporation operates as an externally managed, closed-end, non-diversified business development company. It provides customized debt and equity financing solutions to lower middle-market companies. Its investment objective is to provide attractive risk-adjusted returns by generating both current income from its debt investments and capital appreciation from its equity-related investments. Its investment strategy includes partnering with business owners, management teams and financial sponsors by providing customized financing for ownership transactions, recapitalizations, strategic acquisitions and others. Its equity securities typically include either a direct minority equity investment in common or preferred stock or membership/partnership interests of a portfolio company, or it may receive warrants to buy a minority equity interest in a portfolio company in connection with a debt investment. Its investment activities are managed by Fidus Investment Advisors, LLC.