Highlights
First quarter total investment income of $6.7 million; net investment income of $2.1 million
Net asset value (NAV) of $155.8 million, or $77.92 per share as of December 31, 2025
Weighted average yield was 12.52% on debt and other income producing investments
David Lorber, Chief Executive Officer of the Company, stated: "During the quarter, we generated solid investment income, supported by a 12.52% weighted average yield on income producing investments. While mark-to-market declines in certain equity positions weighed on results, these reflected company-specific softness despite a generally favorable economic backdrop. With our portfolio focused on U.S. companies, and with policy makers signaling support for domestic growth and a more supportive rate environment, we expect U.S. fundamentals to improve throughout 2026."
Selected First Quarter 2026 Financial Results for the Quarter Ended December 31, 2025:
Total investment income was $6.7 million of which $6.5 million was attributable to portfolio interest and dividend income and $0.2 million was attributable to fee and other income.
Total net expenses were $4.5 million and total net investment income was $2.1 million.
The Company recorded a net realized gain of $0.7 million and net unrealized loss of $7.2 million.
Portfolio and Investment Activities for the Quarter Ended December 31, 2025:
The fair value of the Company's investment portfolio totaled $295.6 million and consisted of 33 portfolio companies.
The Company had 1 portfolio company investment on non-accrual status with a fair market value of $0.0 million.
Liquidity and Capital Resources
At December 31, 2025, the Company had $3.4 million in cash and cash equivalents, $57.5 million in aggregate principal amount of its 5.25% unsecured notes due 2028 and $90.0 million outstanding under the Credit Facility.
ABOUT PHENIXFIN CORPORATION
PhenixFIN Corporation is a non-diversified, internally managed closed-end management investment company incorporated in Delaware that has elected to be regulated as a business development company under the Investment Company Act of 1940, as amended. We completed our initial public offering and commenced operations on January 20, 2011. The Company has elected, and intends to qualify annually, to be treated, for U.S. federal income tax purposes, as a regulated investment company under Subchapter M of the Internal Revenue Code of 1986, as amended. Effective January 1, 2021, the Company operates under an internalized management structure.
SAFE HARBOR STATEMENT AND OTHER DISCLOSURES
This press release contains "forward-looking" statements. Such forward-looking statements reflect current views with respect to future events and financial performance, and the Company may make related oral forward-looking statements on or following the date hereof. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions. Certain factors could cause actual results and conditions to differ materially from those projected in these forward-looking statements, including among other things, PhenixFIN's ability to deliver value to shareholders, increase investment activity, increase net investment income, implement its investment strategy and achieve its investment objective, source and capitalize on investment opportunities, grow its net asset value and perform well in the prevailing market environment, the ability of our portfolio companies to perform well and generate income and other factors that are enumerated in the Company's periodic filings with the Securities and Exchange Commission. PhenixFIN Corporation disclaims and does not undertake any obligation to update or revise any forward-looking statement in this press release.
Past performance is not a guarantee of future results. The press release contains unaudited financial results. For ease of review, we have excluded the word "approximately" when rounding the results. This press release is for informational purposes only and is not an offer to purchase or a solicitation of an offer to sell shares of PhenixFIN Corporation's common stock. There can be no assurance that PhenixFIN Corporation will achieve its investment objective.
For PhenixFIN investor relations, please call 212-859-0390. For media inquiries, please contact [email protected].
PHENIXFIN CORPORATIONConsolidated Statements of Assets and Liabilities
December 31,2025(Unaudited)
September 30,2025
Assets:
Investments at fair value
Non-controlled, non-affiliated investments (amortized cost of $138,028,011 and $139,342,491, respectively)
$
139,235,510
$
145,280,169
Affiliated investments (amortized cost of $37,022,913 and $35,390,223, respectively)
36,675,568
35,381,405
Controlled investments (amortized cost of $149,859,961 and $149,656,451, respectively)
119,728,486
121,610,914
Total Investments at fair value
295,639,564
302,272,488
Cash and cash equivalents
3,406,847
7,289,371
Receivables:
Interest receivable
1,036,662
1,203,404
Other receivable
-
44,971
Dividends receivable
229,046
42,950
Other assets
2,642,679
2,746,775
Deferred tax asset, net
852,570
1,234,847
Deferred financing costs
1,308,020
1,384,767
Due from Affiliate
301,595
572,331
Prepaid share repurchase
42,076
96,342
Receivable for investments sold
1,922,102
21,549
Total Assets
$
307,381,161
$
316,909,795
Liabilities:
