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SLR Investment (SLRC) investor relations material
SLR Investment Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Net investment income for Q3 2025 was $21.6 million ($0.40 per share), with net income of $0.43 per share and NAV per share at $18.21, stable quarter-over-quarter and year-over-year.
Portfolio stability attributed to a multi-strategy approach, conservative underwriting, and a portfolio of 109 companies, with 83.4% floating rate investments.
Originated $447 million in new investments and received $419 million in repayments, with year-over-year originations up 12.7%.
Portfolio growth rate has averaged 17.1% annually since 2020.
Net investment income for the nine months ended September 30, 2025, was $65.3 million, reflecting a year-over-year decrease due to a smaller income-producing portfolio and lower index rates.
Financial highlights
Gross investment income for Q3 was $57 million, with net expenses of $35.4 million; net investment income was $21.6 million ($0.40 per share), unchanged from the prior quarter.
Net realized and unrealized gains totaled $1.7 million for Q3; net increase in net assets from operations was $23.3 million ($0.43 per share).
Net asset value per share was $18.21 at September 30, 2025, up slightly from $18.20 at year-end 2024.
Q4 2025 dividend declared at $0.41 per share, consistent with prior quarters.
Investment portfolio fair value stood at $2.1 billion; comprehensive investment portfolio at $3.3 billion.
Outlook and guidance
Management remains cautious on credit quality in private credit, favoring asset-based lending (ABL) over cash flow lending due to better risk-adjusted returns.
Portfolio expected to remain tilted toward specialty finance and ABL, with continued selectivity in cash flow lending, especially in healthcare.
Dividend policy will align with earnings potential, with ongoing monitoring of portfolio performance and market conditions.
Management expects moderate increases in general and administrative expenses, with expense ratios declining during asset growth periods.
Investment pipeline expansion anticipated due to elevated demand and available investment capacity.
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