Fidus Investment Corp
NASDAQ:FDUS

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Fidus Investment Corp
NASDAQ:FDUS
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Price: 18.88 USD -0.42% Market Closed
Market Cap: $716.5m

Fidus Investment Corp
Investor Relations

Fidus Investment Corp. is a specialty finance company that lends money and sometimes buys small ownership stakes in lower middle market businesses, usually companies backed by private equity sponsors. It focuses on established U.S. businesses that need capital for growth, acquisitions, or ownership changes but may not want to borrow from a traditional bank. The company makes money mainly by earning interest and fees on its loans, plus income from equity investments and warrants when those companies do well. Its customers are not consumers; they are business owners, management teams, and private equity firms looking for flexible financing that sits between a bank loan and a full equity sale. What makes Fidus different is its role as a business development company, or BDC. BDCs are built to provide capital to smaller companies that often have limited access to public markets, and Fidus combines lending with selective equity exposure so it can share in both downside protection from debt and upside potential from ownership stakes.

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Last Earnings Call
Fiscal Period
Q1 2026
Call Date
May 8, 2026
AI Summary
Q1 2026

Strong income: Fidus reported adjusted NII of $0.62 per share, up from $0.52 in Q4 2025, and said earnings again covered the base dividend of $0.43 per share.

Special dividend: The board declared a second-quarter dividend of $0.62 per share, made up of a $0.43 base dividend and a $0.19 supplemental dividend.

One-time fee: Q1 results benefited from a roughly $6.97 million refinancing fee tied to American AllWaste, which management said was not a normal recurring item.

Credit quality: Management said the portfolio remains healthy, with only one nonaccrual position representing less than 1% of the portfolio on both a fair value and cost basis.

Deal flow: New originations were $118.7 million, while management described the M&A market as lackluster and tied that to geopolitical and macro uncertainty.

Spreads and outlook: Management said spreads are wider than before, but competition is still meaningful for high-quality assets; they expect a decent Q2 origination quarter with lighter repayments.

Key Financials
Adjusted NII per share
$0.62
Adjusted NII
$23.7 million
Base dividend per share
$0.43
Supplemental dividend per share
$0.19
Total dividend per share
$0.62
Spillover income per share
$1.14
Net asset value
$742 million
Net asset value per share
$19.55
Originations
$118.7 million
Repayments and realizations
$73.1 million
Realized gains
$3.9 million
Realized losses
approximately $15 million
Portfolio value
$1.4 billion
First lien share of debt portfolio
87%
Nonaccrual companies
one portfolio company
Nonaccrual share of portfolio
less than 1%
Software and IT services share of portfolio
about 32%
Weighted average loan-to-value
approximately 45%
Software and IT services loan-to-value
approximately 42%
Debt investments duration in software and IT services
2.2 years
Total expenses
$22.9 million
Net investment income per share
$0.65
Net realized losses
approximately $12.2 million
Debt outstanding
$682.2 million
Net debt-to-equity ratio
0.9x
Statutory leverage
0.6x
Weighted average interest rate on debt
5.2%
Weighted average effective yield on debt investments
12.5%
Cash
$50.4 million
Line of credit availability
$139.9 million
Available SBA debentures
$54 million
Total liquidity
approximately $244.2 million
Q1 fee income from American AllWaste refinancing
about $6.97 million
Earnings Call Recording
Other Earnings Calls

Management

Mr. Edward H. Ross
Chairman of the Board & CEO
No Bio Available
Mr. Thomas C. Lauer
President, MD & Director
No Bio Available
Ms. Shelby Elizabeth Sherard CPA
CFO, Chief Compliance Officer & Corporate Secretary
No Bio Available
Ms. Amanda Armstrong
Accounting Manager
No Bio Available
Ms. Jody Burfening
Investor Relations Contact
No Bio Available
Mr. Craig J. Petrusha
Managing Director
No Bio Available

Contacts

Address
ILLINOIS
Evanston
1603 Orrington Ave Ste 820
Contacts
+18478593940.0
www.fdus.com
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