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Cion Investment (CION) investor relations material
Cion Investment Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary6 Nov, 2025
Executive summary
Net investment income for Q3 2025 was $0.74 per share ($38.6 million), with earnings per share at $0.69, driven by robust transaction activity and restructured investments.
Net asset value (NAV) per share increased to $14.86 as of September 30, 2025, up 2.5% from $14.50 in Q2.
Share repurchase program was active, with 330,324 shares repurchased in Q3 2025 at $9.86 per share; cumulative repurchases reached $50.3 million.
Announced shift to monthly base distributions starting January 2026, with Q4 2025 base distribution declared at $0.36 per share.
Portfolio at fair value was $1.74 billion across 91 companies in 23 industries, with 80% in senior secured first lien investments.
Financial highlights
Total investment income for Q3 2025 was $78.7 million, up from $52.5 million in Q2 2025.
Net realized and unrealized losses were $2.7 million in Q3 2025, down from gains of $10.4 million in Q2.
Operating expenses increased to $40.1 million, mainly due to higher advisory fees.
Weighted average yield on debt and income-producing investments was 10.85% at quarter-end.
Distributions declared per share remained at $0.36 for Q3 and Q4 2025.
Outlook and guidance
Management expects continued strong performance, with successful monetization of equity positions and robust investment pipeline.
Base distributions will shift from quarterly to monthly starting January 2026, declared quarterly in advance.
Liquidity and capital resources are considered sufficient for near-term operations, with $100 million available under secured facilities.
Guidance will be provided on anticipated transactional income to manage investor expectations.
Management expects to maintain RIC status and continue monthly distributions in 2026.
Guidance on future opportunistic income
Drivers of nonaccrual additions this quarter
Impact of share repurchases on NAV
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Next Cion Investment earnings date
Q4 202512 Mar, 2026
Next Cion Investment earnings date
Q4 202512 Mar, 2026
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Frequently asked questions
CION Investment Corp. is a business development company (BDC) that provides debt financing solutions to middle-market companies across a range of industries. The company primarily focuses on offering senior secured loans, including first lien and unitranche loans, to support the growth, acquisition, and recapitalization efforts of its clients. CION Investment Corp. aims to generate income by investing in a diversified portfolio of corporate debt, helping businesses meet their financing needs while seeking to deliver returns to its shareholders. The company is headquartered in New York, United States, and its shares are listed on the NYSE.
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