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Investcorp Credit Management BDC (ICMB) investor relations material
Investcorp Credit Management BDC Q1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q1 2026 earnings summary13 Nov, 2025
Executive summary
Net asset value per share declined to $5.04 as of September 30, 2025, from $5.27 last quarter, with net assets down $3.3 million or 4.32% quarter-over-quarter, reflecting fair value adjustments and distributions exceeding NII.
Investment portfolio at fair value was $196.1 million across 41 companies, with 78.32% in first lien debt and 98.49% of debt portfolio in floating rate instruments.
Net investment income before taxes was $0.6 million, or $0.04 per share for the quarter, down from $0.06 per share sequentially, mainly due to non-accruals and portfolio repayments.
Declared a $0.12 per share quarterly distribution and a $0.02 supplemental distribution, with a 20.14% annualized yield based on share price as of September 30, 2025.
Parent company provided a $65 million backstop commitment to refinance notes maturing April 2026, enhancing balance sheet flexibility.
Financial highlights
Fair value of the portfolio was $196.1 million, down from $204.1 million at March 31; total assets were $210.6 million.
Net assets were $72.7 million as of September 30, 2025.
Weighted average yield on debt investments increased to 10.87% from 10.57% in the prior quarter.
Net decrease in net assets from operations was $1.3 million, or $0.09 per share, for the quarter.
Dividends declared per share totaled $0.14, including a $0.12 regular and $0.02 supplemental distribution.
Outlook and guidance
Expectation for NII to benefit from new fundings; focus remains on disciplined portfolio management, capital protection, and long-term shareholder value.
Portfolio strategy targets established companies with positive cash flow and seasoned management, with investment sizes from $5 million to $25 million.
Management remains selective due to compressed spreads and market volatility.
Impact of SOFR+550 backstop on NII
Strategy for NII growth with selective investing
Outlook for nonaccruals and NAV adjustments
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Next Investcorp Credit Management BDC earnings date
Q2 202625 Mar, 2026
Next Investcorp Credit Management BDC earnings date
Q2 202625 Mar, 2026
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Frequently asked questions
Investcorp Credit Management BDC, Inc. is a business development company specializing in loan, mezzanine, middle market, growth capital, acquisition, market/product expansion, organic growth, refinancing and recapitalization investments. The firm seeks to invest in service providers to the oil and gas industry; IT and data center services companies; business process outsourcing companies; healthcare technology services companies; marketing services companies and food service companies. It also focuses on consumer discretionary; financials; industrials; information technology; materials and energy sectors.
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