PennantPark Investment Corporation reported its financial results for the quarter ended June 30, 2025, revealing a net investment income of $11.8 million, or $0.18 per share, compared to $15.7 million, or $0.24 per share, for the same period in 2024. For the nine months ended June 30, 2025, net investment income totaled $36.2 million, or $0.55 per share, down from $45.7 million, or $0.70 per share, in the prior year. The decline in income was attributed to a decrease in total portfolio size and a reduction in the weighted average yield on debt investments. Total investment income for the quarter was $29.6 million, a decrease from $37.0 million in the previous year, primarily driven by lower interest income from first lien secured debt.
The company's total assets as of June 30, 2025, were reported at $1.25 billion, down from $1.39 billion as of September 30, 2024. Total investments decreased to $1.17 billion from $1.33 billion, with first lien secured debt comprising 41% of the portfolio. The net asset value per share also declined to $7.36 from $7.56 in the previous fiscal period. The company had four portfolio companies on non-accrual status, representing 2.8% of the overall portfolio on a cost basis.
In terms of operational developments, PennantPark made significant investments totaling $560.2 million in 19 new and 112 existing portfolio companies during the nine months ended June 30, 2025. The company also reported sales and repayments of investments amounting to $749.0 million during the same period, including $462.8 million sold to its joint venture, PennantPark Senior Loan Fund, LLC (PSLF). The weighted average yield on debt investments for the new investments was 10.5%, indicating a strategic focus on maintaining yield despite market conditions.
Looking ahead, PennantPark's management expressed cautious optimism regarding future investment opportunities, particularly in the middle-market sector, which they believe offers attractive risk-reward profiles. The company continues to monitor market conditions and adjust its investment strategy accordingly. As of June 30, 2025, PennantPark had $70.5 million in cash and cash equivalents available for investment and general corporate purposes, indicating a solid liquidity position to support ongoing operations and potential new investments.
About PENNANTPARK INVESTMENT CORP
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