PhenixFIN (PFX) Q2 2026 earnings summary

Executive summary

• Net investment income for Q2 2026 was $747,513, with a net increase in net assets from operations of $1.1 million, reversing a net decrease of $0.9 million in the prior year quarter.

• Total investment income for Q2 2026 was $5.2 million, primarily from portfolio interest and dividend income.

• Portfolio fair value as of March 31, 2026, was $295.8 million, a slight decrease from $302.3 million at September 30, 2025.

• Net asset value (NAV) stood at $153.8 million, or $79.56 per share as of March 31, 2026.

• Returned capital to shareholders via a share buyback program, repurchasing 787,425 shares totaling $32.2 million, with $2.8 million remaining authorized.

Financial highlights

• Net asset value per share was $79.56 at March 31, 2026, compared to $80.24 at September 30, 2025.

• Net investment income per share for the six months ended March 31, 2026, was $1.45, up from $1.28 year-over-year.

• Weighted average yield on debt and other income-producing investments was 13.1% as of March 31, 2026.

• Earnings per share was $0.57 for the quarter.

• Total expenses for the quarter decreased by 11.9% year-over-year, mainly due to lower interest and financing expenses.

Outlook and guidance

• The board approved a reduction in the minimum asset coverage ratio to 150%, effective May 4, 2027, allowing for increased leverage.

• Management remains disciplined in underwriting and portfolio management amid elevated market volatility, especially in private credit.

• Focus continues on asset-oriented industries and active capital return to shareholders.

• A special dividend of $0.07 per share was declared, payable May 28, 2026.