Great Elm Capital Corp. Announces Second Quarter 2025 Financial Results
Great Elm Capital Corp. (NASDAQ: GECC) reported strong Q2 2025 financial results, achieving record total investment income of $14.3 million. Net investment income reached $5.9 million ($0.51 per share), up from $4.6 million ($0.40 per share) in Q1 2025.
The company's net asset value increased to $12.10 per share from $11.46, primarily driven by unrealized gains on CoreWeave investment and NII exceeding quarterly distribution by 38%. The Board approved a $0.37 quarterly dividend, representing a 13.5% annualized yield. GECC's portfolio totaled $335.1 million in investments, with a 12.5% weighted average yield on debt portfolio.
The company maintained strong asset coverage at 169.5% and received $4.3 million in cash distributions from its CLO JV.Great Elm Capital Corp. (NASDAQ: GECC) ha riportato risultati finanziari solidi per il secondo trimestre 2025, raggiungendo un reddito totale da investimenti record di 14,3 milioni di dollari. Il reddito netto da investimenti ha raggiunto 5,9 milioni di dollari (0,51 dollari per azione), in aumento rispetto ai 4,6 milioni di dollari (0,40 dollari per azione) del primo trimestre 2025.
Il valore patrimoniale netto dell'azienda 猫 salito a 12,10 dollari per azione da 11,46 dollari, principalmente grazie ai guadagni non realizzati sull'investimento in CoreWeave e a un reddito netto da investimenti superiore del 38% alla distribuzione trimestrale. Il Consiglio di Amministrazione ha approvato un dividendo trimestrale di 0,37 dollari, che rappresenta un rendimento annualizzato del 13,5%. Il portafoglio di GECC ammontava a 335,1 milioni di dollari in investimenti, con un rendimento medio ponderato del 12,5% sul portafoglio di debito.
L'azienda ha mantenuto una solida copertura degli asset al 169,5% e ha ricevuto 4,3 milioni di dollari in distribuzioni in contanti dalla sua joint venture CLO.
Great Elm Capital Corp. (NASDAQ: GECC) report贸 s贸lidos resultados financieros en el segundo trimestre de 2025, alcanzando un ingreso total por inversiones r茅cord de 14,3 millones de d贸lares. El ingreso neto por inversiones lleg贸 a 5,9 millones de d贸lares (0,51 d贸lares por acci贸n), aumentando desde 4,6 millones de d贸lares (0,40 d贸lares por acci贸n) en el primer trimestre de 2025.
El valor neto de los activos de la compa帽铆a aument贸 a 12,10 d贸lares por acci贸n desde 11,46 d贸lares, impulsado principalmente por ganancias no realizadas en la inversi贸n en CoreWeave y un ingreso neto por inversiones que super贸 la distribuci贸n trimestral en un 38%. La Junta aprob贸 un dividendo trimestral de 0,37 d贸lares, representando un rendimiento anualizado del 13,5%. La cartera de GECC totaliz贸 335,1 millones de d贸lares en inversiones, con un rendimiento promedio ponderado del 12,5% en la cartera de deuda.
La compa帽铆a mantuvo una s贸lida cobertura de activos del 169,5% y recibi贸 4,3 millones de d贸lares en distribuciones en efectivo de su joint venture CLO.
Great Elm Capital Corp. (NASDAQ: GECC)電� 2025雲� 2攵勱赴 臧曤牓頃� 鞛 鞁れ爜鞚� 氤搓碃頃橂┌ 齑� 韴瀽 靾橃澋鞚� 1,430毵� 雼煬搿� 靷儊 斓滉碃旃橂ゼ 旮半頄堨姷雼堧嫟. 靾滍埇鞛愳垬鞚奠潃 590毵� 雼煬(欤茧嫻 0.51雼煬)搿�, 2025雲� 1攵勱赴鞚� 460毵� 雼煬(欤茧嫻 0.40雼煬)鞐愳劀 歃濌皜頄堨姷雼堧嫟.
須岇偓鞚� 靾滌瀽靷� 臧�旃橂姅 欤茧嫻 12.10雼煬搿� 11.46雼煬鞐愳劀 靸侅姽頄堨溂氅�, 鞚措姅 欤茧 CoreWeave 韴瀽鞐愳劀鞚� 氙胳嫟順� 鞚挫澋瓿� 靾滍埇鞛愳垬鞚奠澊 攵勱赴 氚半嫻旮堨潉 38% 齑堦臣頃� 雿� 旮办澑頃╇媹雼�. 鞚挫偓須岆姅 攵勱赴 氚半嫻旮� 0.37雼煬毳� 鞀轨澑頄堨溂氅�, 鞐绊櫂靷� 靾橃澋毳犾潃 13.5%鞛呺媹雼�. GECC鞚� 韽姼韽措Μ鞓る姅 3鞏� 3,510毵� 雼煬鞚� 韴瀽鞎§潉 氤挫湢頃橁碃 鞛堨溂氅�, 攵�毂� 韽姼韽措Μ鞓れ潣 臧�欷� 韽夑窢 靾橃澋毳犾潃 12.5%鞛呺媹雼�.
须岇偓电� 169.5%鞚� 臧曤牓頃� 鞛愳偘 旎る矂毽毳� 鞙犾頄堨溂氅� CLO 頃╈瀾 韴瀽搿滊秬韯� 430毵� 雼煬鞚� 順勱笀 氚半嫻旮堨潉 氚涭晿鞀惦媹雼�.
Great Elm Capital Corp. (NASDAQ : GECC) a annonc茅 de solides r茅sultats financiers pour le deuxi猫me trimestre 2025, atteignant un revenu total d'investissement record de 14,3 millions de dollars. Le revenu net d'investissement a atteint 5,9 millions de dollars (0,51 dollar par action), en hausse par rapport 脿 4,6 millions de dollars (0,40 dollar par action) au premier trimestre 2025.
La valeur nette d'actif de la soci茅t茅 a augment茅 脿 12,10 dollars par action contre 11,46 dollars, principalement gr芒ce aux gains latents sur l'investissement CoreWeave et 脿 un revenu net d'investissement d茅passant la distribution trimestrielle de 38 %. Le conseil d'administration a approuv茅 un dividende trimestriel de 0,37 dollar, repr茅sentant un rendement annualis茅 de 13,5 %. Le portefeuille de GECC totalisait 335,1 millions de dollars d'investissements, avec un rendement moyen pond茅r茅 de 12,5 % sur le portefeuille de dettes.
La soci茅t茅 a maintenu une solide couverture des actifs 脿 169,5% et a re莽u 4,3 millions de dollars en distributions en esp猫ces de sa coentreprise CLO.
Great Elm Capital Corp. (NASDAQ: GECC) meldete starke Finanzergebnisse f眉r das zweite Quartal 2025 und erzielte einen Rekord bei den gesamten Anlageertr盲gen von 14,3 Millionen US-Dollar. Der Nettoanlageertrag erreichte 5,9 Millionen US-Dollar (0,51 US-Dollar pro Aktie), gegen眉ber 4,6 Millionen US-Dollar (0,40 US-Dollar pro Aktie) im ersten Quartal 2025.
Der Nettoverm枚genswert des Unternehmens stieg auf 12,10 US-Dollar pro Aktie von 11,46 US-Dollar, haupts盲chlich bedingt durch nicht realisierte Gewinne aus der CoreWeave-Investition und einem Nettoanlageertrag, der die viertelj盲hrliche Aussch眉ttung um 38 % 眉berstieg. Der Vorstand genehmigte eine viertelj盲hrliche Dividende von 0,37 US-Dollar, was einer annualisierten Rendite von 13,5 % entspricht. Das Portfolio von GECC belief sich auf 335,1 Millionen US-Dollar an Investitionen mit einer gewichteten durchschnittlichen Rendite von 12,5 % im Schuldenportfolio.
Das Unternehmen hielt eine starke Verm枚gensdeckung von 169,5% aufrecht und erhielt 4,3 Millionen US-Dollar an Baraussch眉ttungen aus seinem CLO-Joint Venture.
- Record total investment income of $14.3 million with over 90% in cash income
- Net investment income increased to $0.51 per share, up 27.5% from Q1 2025
- NAV per share grew to $12.10 from $11.46 quarter-over-quarter
- Asset coverage ratio improved to 169.5% from 163.8%
- Strong 12.5% weighted average yield on debt portfolio
- CLO JV distributions increased to $4.3 million from $3.8 million quarter-over-quarter
- Expected decrease in NII for Q3 2025 due to uneven CLO JV cash flows
- Relatively high leverage with $201.4 million in outstanding debt
- Limited cash position of only $4.4 million at quarter end
Insights
GECC delivers record quarterly results with strong NII growth of 28% QoQ and NAV increase to $12.10, driven by robust cash generation.
GECC has delivered an impressive second quarter with several key performance improvements. Total investment income reached a record $14.3 million, with cash income comprising over 90% of this figure鈥攎arking their most cash-generative quarter in company history.
Net investment income jumped to $5.9 million ($0.51 per share), representing a substantial 28% increase from Q1's $4.6 million ($0.40 per share). This growth was primarily driven by distributions from preference shares in an insurance-related investment and higher income from CLO investments. Their CLO joint venture contributed $4.3 million in cash distributions, up from $3.8 million in the previous quarter.
The company's net asset value improved significantly to $12.10 per share from $11.46, a 5.6% increase quarter-over-quarter. This NAV growth stemmed from unrealized gains on a CoreWeave-related investment and NII exceeding the quarterly distribution by 38%. The asset coverage ratio also strengthened to 169.5% from 163.8% in Q1.
From a portfolio perspective, GECC maintains a diversified approach with 58.9% in corporate debt investments, 16.5% in CLO investments, and various equity positions. The weighted average yield on debt investments stands at 12.5%, with 73% in floating-rate instruments鈥攑ositioning them well in the current interest rate environment.
While management noted Q3 NII will likely decrease due to uneven cash flows from their CLO JV, they remain confident that full-year NII will exceed their distribution. The board approved a $0.37 quarterly dividend, representing a 13.5% annualized yield based on recent share price.
GECC's balance sheet appears reasonably leveraged with $201.4 million in debt outstanding and an improved asset coverage ratio, providing them flexibility to pursue new opportunities while maintaining their dividend.
Company to Host Conference Call and Webcast at 8:30 AM ET on August 5, 2025
PALM BEACH GARDENS, Fla., Aug. 04, 2025 (GLOBE NEWSWIRE) -- Great Elm Capital Corp. (鈥渨e,鈥� 鈥渙ur,鈥� the 鈥淐ompany鈥� or 鈥淕ECC鈥�) (NASDAQ: GECC), a business development company, today announced its financial results for the second quarter ended June 30, 2025.听 听 听听
Second Quarter and Other Recent Highlights
- Total investment income (鈥淭II鈥�) for the quarter ended June 30, 2025 was a record
$14.3 million .- Highest cash generative quarter in GECC鈥檚 history, with cash income comprising over
90% of TII.
- Highest cash generative quarter in GECC鈥檚 history, with cash income comprising over
- Net investment income (鈥淣II鈥�) for the quarter ended June 30, 2025 was
$5.9 million , or$0.51 per share, as compared to$4.6 million , or$0.40 per share, for the quarter ended March 31, 2025.- Increase in NII primarily driven by a distribution on preference shares in an insurance-related investment as well as from higher income on CLO investments.
- GECC received
$4.3 million of cash distributions from the CLO JV in the quarter ended June 30, 2025, as compared to$3.8 million in the quarter ended March 31, 2025.
- Net assets were
$140.0 million , or$12.10 per share, on June 30, 2025, as compared to$132.3 million , or$11.46 per share, on March 31, 2025.- Increase in net asset value (鈥淣AV鈥�) primarily driven by unrealized gains on a CoreWeave related investment as well as NII exceeding the quarterly distribution by
38% , or$0.14 per share.
- Increase in net asset value (鈥淣AV鈥�) primarily driven by unrealized gains on a CoreWeave related investment as well as NII exceeding the quarterly distribution by
- GECC鈥檚 asset coverage ratio was
169.5% as of June 30, 2025, as compared to163.8% as of March 31, 2025. - The Board of Directors approved a quarterly dividend of
$0.37 per share for the third quarter of 2025, equating to a13.5% annualized yield on GECC鈥檚 August 1, 2025 closing price of$10.98 .
Management Commentary听听
鈥淲e continued our strong momentum in 2025 with a standout second quarter, generating record total investment income and NII that exceeded our recently increased quarterly distribution. Our substantial NII this quarter was driven by robust cash generation, including a strong distribution from preference shares in an insurance related investment and continued solid performance from our CLO JV,鈥� said Matt Kaplan, GECC鈥檚 Chief Executive Officer. 鈥淣AV also improved meaningfully in the quarter, benefitting from unrealized gains on our CoreWeave related investment. Looking ahead, while we expect third quarter NII will step down due to the uneven cadence of cash flows from our CLO JV, we remain well-positioned for our NII to exceed our distribution for the full year. We will continue to closely monitor the macro environment and seek to deploy capital into opportunities offering compelling risk-adjusted returns, with a focus on driving lasting value for our shareholders.鈥�
Financial Highlights 鈥� Per Share Data
| 听 | Q2/2024 | Q3/2024 | Q4/2024 | Q1/2025 | Q2/2025 | |||||||||
| Earnings Per Share (鈥淓PS鈥�) | ( | |||||||||||||
| Net Investment Income (鈥淣II鈥�) Per Share | ||||||||||||||
| Pre-Incentive Net Investment Income Per Share | ||||||||||||||
| Net AG真人官方ized and Unrealized Gains / (Losses) Per Share | ( | ( | ( | ( | ||||||||||
| Net Asset Value Per Share at Period End | ||||||||||||||
| Distributions Paid / Declared Per Share | ||||||||||||||
| 听 | ||||||||||||||
Portfolio and Investment Activity
As of June 30, 2025, GECC held total investments of
- 55 debt investments in corporate credit, totaling approximately
$197.3 million , representing58.9% of the fair market value of the Company鈥檚 total investments. Secured debt investments comprised a substantial majority of the fair market value of the Company鈥檚 debt investments. - An investment in Great Elm Specialty Finance, totaling approximately
$36.4 million , comprised of one debt investment of$23.9 million and one equity investment of$12.4 million , representing7.1% and3.7% , respectively, of the fair market value of the Company鈥檚 total investments. - CLO investments, totaling approximately
$55.4 million , representing16.5% of the fair market value of the Company鈥檚 total investments. - Three dividend paying equity investments, totaling approximately
$8.4 million , representing2.5% of the fair market value of the Company鈥檚 total investments. - Other equity investments, totaling approximately
$37.5 million , representing11.2% of the fair market value of the Company鈥檚 total investments.听听
As of June 30, 2025, the weighted average current yield on the Company鈥檚 debt portfolio was
During the quarter ended June 30, 2025, we deployed approximately
During the quarter ended June 30, 2025, we monetized, in part or in full, 38 investments for approximately
Financial Review
Total investment income for the quarter ended June 30, 2025 was
Net realized and unrealized gains for the quarter ended June 30, 2025 were approximately
Liquidity and Capital Resources
As of June 30, 2025, cash and money market fund investments totaled approximately
As of June 30, 2025, total debt outstanding (par value) was
Distributions
The Company鈥檚 Board of Directors has approved a quarterly cash distribution of
The distribution equates to a
Conference Call and Webcast
GECC will discuss these results in a conference at 8:30 a.m. ET on August 5, 2025.
| Conference Call Details | 听 |
| 听 | 听 |
| Date/Time: | Tuesday, August 5, 2025 鈥� 8:30 a.m. ET |
| 听 | 听 |
| Participant Dial-In Numbers: | 听 |
| (United States): | 877-407-0789 |
| (International): | 201-689-8562 |
| 听 | 听 |
To access the call, please dial-in approximately five minutes before the start time and, when asked, provide the operator with passcode 鈥淕ECC鈥�. An accompanying slide presentation will be available in pdf format via the 鈥淓vents and Presentations鈥� section of Great Elm Capital Corp.鈥檚 website after the issuance of the earnings release.
Webcast
The call and presentation will also be simultaneously webcast over the internet via the 鈥淓vents and Presentations鈥� section of GECC鈥檚 website or by clicking on the webcast link .
About Great Elm Capital Corp.
GECC is an externally managed business development company that seeks to generate current income and capital appreciation by investing in debt and income generating equity securities, including investments in specialty finance businesses and CLOs. For additional information, please visit .
Cautionary Statement Regarding Forward-Looking Statements
Statements in this communication that are not historical facts are 鈥渇orward-looking鈥� statements within the meaning of the federal securities laws. These statements include statements regarding our future business plans and expectations. These statements are often, but not always, made through the use of words or phrases such as 鈥渆xpect,鈥� 鈥渁nticipate,鈥� 鈥渟hould,鈥� 鈥渨ill,鈥� 鈥渆stimate,鈥� 鈥渄esigned,鈥� 鈥渟eek,鈥� 鈥渃ontinue,鈥� 鈥渦pside,鈥� 鈥減otential鈥� and similar expressions. All such forward-looking statements involve estimates and assumptions that are subject to risks, uncertainties and other factors that could cause actual results to differ materially from the results expressed in the statements. The key factors that could cause actual results to differ materially from those projected in the forward-looking statements include, without limitation: conditions in the credit markets, our expected financings and investments, including interest rate volatility, inflationary pressure, the price of GECC common stock and the performance of GECC鈥檚 portfolio and investment manager. Information concerning these and other factors can be found in GECC鈥檚 Annual Report on Form 10-K and other reports filed with the Securities and Exchange Commission. GECC assumes no obligation to, and expressly disclaims any duty to, update any forward-looking statements contained in this communication or to conform prior statements to actual results or revised expectations except as required by law. Readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date hereof.
This press release does not constitute an offer of any securities for sale.
Endnotes:
| (1) | Weighted average current yield is based upon the stated coupon rate and fair value of outstanding debt securities at the measurement date and excludes two non-accrual investments with a fair value of |
| (2) | This includes new deals, additional fundings (inclusive of those on revolving credit facilities), refinancings and capitalized PIK income. Amounts included herein do not include investments in short-term securities, including United States Treasury Bills. |
| (3) | This includes scheduled principal payments, prepayments, sales and repayments (inclusive of those on revolving credit facilities). Amounts included herein do not include investments in short-term securities, including United States Treasury Bills. |
| 听 | 听 |
Media & Investor Contact:
Investor Relations听听听听听听听听
GREAT ELM CAPITAL CORP.
CONSOLIDATED STATEMENTS OF ASSETS AND LIABILITIES (unaudited)
Dollar amounts in thousands (except per share amounts)
| 听 | June听30, 2025 | 听 | 听 | December听31, 2024 | 听 | ||
| Assets | 听 | 听 | 听 | 听 | 听 | ||
| Investments | 听 | 听 | 听 | 听 | 听 | ||
| Non-affiliated, non-controlled investments, at fair value (amortized cost of | $ | 250,099 | 听 | 听 | $ | 240,958 | 听 |
| Non-affiliated, non-controlled short-term investments, at fair value (amortized cost of | 听 | 68,206 | 听 | 听 | 听 | 8,448 | 听 |
| Affiliated investments, at fair value (amortized cost of | 听 | - | 听 | 听 | 听 | - | 听 |
| Controlled investments, at fair value (amortized cost of | 听 | 84,954 | 听 | 听 | 听 | 83,304 | 听 |
| Total investments | 听 | 403,259 | 听 | 听 | 听 | 332,710 | 听 |
| 听 | 听 | 听 | 听 | 听 | 听 | ||
| Cash and cash equivalents | 听 | 960 | 听 | 听 | 听 | - | 听 |
| Receivable for investments sold | 听 | 75 | 听 | 听 | 听 | 5,065 | 听 |
| Interest receivable | 听 | 3,279 | 听 | 听 | 听 | 3,306 | 听 |
| Dividends receivable | 听 | 853 | 听 | 听 | 听 | 364 | 听 |
| Due from portfolio company | 听 | 32 | 听 | 听 | 听 | 32 | 听 |
| Due from affiliates | 听 | 107 | 听 | 听 | 听 | 160 | 听 |
| Deferred financing costs | 听 | 188 | 听 | 听 | 听 | 237 | 听 |
| Prepaid expenses and other assets | 听 | 573 | 听 | 听 | 听 | 154 | 听 |
| Total assets | $ | 409,326 | 听 | 听 | $ | 342,028 | 听 |
| 听 | 听 | 听 | 听 | 听 | 听 | ||
| Liabilities | 听 | 听 | 听 | 听 | 听 | ||
| Notes payable (including unamortized discount of | $ | 190,477 | 听 | 听 | $ | 189,695 | 听 |
| Revolving credit facility | 听 | 6,000 | 听 | 听 | 听 | - | 听 |
| Payable for investments purchased | 听 | 66,144 | 听 | 听 | 听 | 11,194 | 听 |
| Interest payable | 听 | 79 | 听 | 听 | 听 | 32 | 听 |
| Accrued incentive fees payable | 听 | 3,636 | 听 | 听 | 听 | 1,712 | 听 |
| Distributions payable | 听 | - | 听 | 听 | 听 | 577 | 听 |
| Due to affiliates | 听 | 1,500 | 听 | 听 | 听 | 1,385 | 听 |
| Accrued expenses and other liabilities | 听 | 1,458 | 听 | 听 | 听 | 1,320 | 听 |
| Total liabilities | $ | 269,294 | 听 | 听 | $ | 205,915 | 听 |
| 听 | 听 | 听 | 听 | 听 | 听 | ||
| Commitments and contingencies | $ | - | 听 | 听 | $ | - | 听 |
| 听 | 听 | 听 | 听 | 听 | 听 | ||
| Net Assets | 听 | 听 | 听 | 听 | 听 | ||
| Common stock, par value | $ | 116 | 听 | 听 | $ | 115 | 听 |
| Additional paid-in capital | 听 | 332,385 | 听 | 听 | 听 | 332,111 | 听 |
| Accumulated losses | 听 | (192,469 | ) | 听 | 听 | (196,113 | ) |
| Total net assets | $ | 140,032 | 听 | 听 | $ | 136,113 | 听 |
| Total liabilities and net assets | $ | 409,326 | 听 | 听 | $ | 342,028 | 听 |
| Net asset value per share | $ | 12.10 | 听 | 听 | $ | 11.79 | 听 |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 |
GREAT ELM CAPITAL CORP.
CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited)
Dollar amounts in thousands (except per share amounts)
| 听 | For the Three Months Ended June听30, | 听 | 听 | For the Six Months Ended June听30, | 听 | ||||||||||
| 听 | 2025 | 听 | 听 | 2024 | 听 | 听 | 2025 | 听 | 听 | 2024 | 听 | ||||
| Investment Income: | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||
| Interest income from: | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||
| Non-affiliated, non-controlled investments | $ | 6,560 | 听 | 听 | $ | 5,968 | 听 | 听 | $ | 12,962 | 听 | 听 | $ | 11,955 | 听 |
| Non-affiliated, non-controlled investments (PIK) | 听 | 644 | 听 | 听 | 听 | 811 | 听 | 听 | 听 | 1,255 | 听 | 听 | 听 | 1,441 | 听 |
| Affiliated investments | 听 | - | 听 | 听 | 听 | 31 | 听 | 听 | 听 | - | 听 | 听 | 听 | 64 | 听 |
| Controlled investments | 听 | 765 | 听 | 听 | 听 | 953 | 听 | 听 | 听 | 1,718 | 听 | 听 | 听 | 1,884 | 听 |
| Total interest income | 听 | 7,969 | 听 | 听 | 听 | 7,763 | 听 | 听 | 听 | 15,935 | 听 | 听 | 听 | 15,344 | 听 |
| Dividend income from: | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||
| Non-affiliated, non-controlled investments | 听 | 2,332 | 听 | 听 | 听 | 1,045 | 听 | 听 | 听 | 2,568 | 听 | 听 | 听 | 1,431 | 听 |
| Controlled investments | 听 | 3,904 | 听 | 听 | 听 | 525 | 听 | 听 | 听 | 7,280 | 听 | 听 | 听 | 910 | 听 |
| Total dividend income | 听 | 6,236 | 听 | 听 | 听 | 1,570 | 听 | 听 | 听 | 9,848 | 听 | 听 | 听 | 2,341 | 听 |
| Other commitment fees from non-affiliated, non-controlled investments | 听 | - | 听 | 听 | 听 | 175 | 听 | 听 | 听 | - | 听 | 听 | 听 | 700 | 听 |
| Other income from: | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||
| Non-affiliated, non-controlled investments | 听 | 72 | 听 | 听 | 听 | 40 | 听 | 听 | 听 | 815 | 听 | 听 | 听 | 72 | 听 |
| Non-affiliated, non-controlled investments (PIK) | 听 | - | 听 | 听 | 听 | - | 听 | 听 | 听 | 174 | 听 | 听 | 听 | - | 听 |
| Total other income | 听 | 72 | 听 | 听 | 听 | 40 | 听 | 听 | 听 | 989 | 听 | 听 | 听 | 72 | 听 |
| Total investment income | $ | 14,277 | 听 | 听 | $ | 9,548 | 听 | 听 | $ | 26,772 | 听 | 听 | $ | 18,457 | 听 |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||
| Expenses: | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||
| Management fees | $ | 1,278 | 听 | 听 | $ | 1,068 | 听 | 听 | $ | 2,550 | 听 | 听 | $ | 2,008 | 听 |
| Incentive fees | 听 | 1,470 | 听 | 听 | 听 | 764 | 听 | 听 | 听 | 2,620 | 听 | 听 | 听 | 1,562 | 听 |
| Administration fees | 听 | 383 | 听 | 听 | 听 | 396 | 听 | 听 | 听 | 738 | 听 | 听 | 听 | 781 | 听 |
| Custody fees | 听 | 37 | 听 | 听 | 听 | 36 | 听 | 听 | 听 | 75 | 听 | 听 | 听 | 72 | 听 |
| Directors鈥� fees | 听 | 53 | 听 | 听 | 听 | 54 | 听 | 听 | 听 | 106 | 听 | 听 | 听 | 108 | 听 |
| Professional services | 听 | 459 | 听 | 听 | 听 | 413 | 听 | 听 | 听 | 883 | 听 | 听 | 听 | 801 | 听 |
| Interest expense | 听 | 4,318 | 听 | 听 | 听 | 3,473 | 听 | 听 | 听 | 8,569 | 听 | 听 | 听 | 6,280 | 听 |
| Other expenses | 听 | 307 | 听 | 听 | 听 | 286 | 听 | 听 | 听 | 615 | 听 | 听 | 听 | 589 | 听 |
| Total expenses | $ | 8,305 | 听 | 听 | $ | 6,490 | 听 | 听 | $ | 16,156 | 听 | 听 | $ | 12,201 | 听 |
| Net investment income before taxes | $ | 5,972 | 听 | 听 | $ | 3,058 | 听 | 听 | $ | 10,616 | 听 | 听 | $ | 6,256 | 听 |
| Excise tax | $ | 68 | 听 | 听 | $ | - | 听 | 听 | $ | 136 | 听 | 听 | $ | 5 | 听 |
| Net investment income | $ | 5,904 | 听 | 听 | $ | 3,058 | 听 | 听 | $ | 10,480 | 听 | 听 | $ | 6,251 | 听 |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||
| Net realized and unrealized gains (losses): | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||
| Net realized gain (loss) on investment transactions from: | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||
| Non-affiliated, non-controlled investments | $ | 459 | 听 | 听 | $ | 155 | 听 | 听 | $ | 723 | 听 | 听 | $ | 2,511 | 听 |
| Affiliated investments | 听 | - | 听 | 听 | 听 | (625 | ) | 听 | 听 | - | 听 | 听 | 听 | (625 | ) |
| Total net realized gain (loss) | 听 | 459 | 听 | 听 | 听 | (470 | ) | 听 | 听 | 723 | 听 | 听 | 听 | 1,886 | 听 |
| Net change in unrealized appreciation (depreciation) on | |||||||||||||||
| investment transactions from: | |||||||||||||||
| Non-affiliated, non-controlled investments | 听 | 7,679 | 听 | 听 | 听 | (3,856 | ) | 听 | 听 | 5,613 | 听 | 听 | 听 | (7,389 | ) |
| Affiliated investments | 听 | - | 听 | 听 | 听 | 827 | 听 | 听 | 听 | - | 听 | 听 | 听 | (23 | ) |
| Controlled investments | 听 | (2,299 | ) | 听 | 听 | (885 | ) | 听 | 听 | (4,620 | ) | 听 | 听 | (2,509 | ) |
| Total net change in unrealized appreciation (depreciation) | 听 | 5,380 | 听 | 听 | 听 | (3,914 | ) | 听 | 听 | 993 | 听 | 听 | 听 | (9,921 | ) |
| Net realized and unrealized gains (losses) | $ | 5,839 | 听 | 听 | $ | (4,384 | ) | 听 | $ | 1,716 | 听 | 听 | $ | (8,035 | ) |
| Net increase (decrease) in net assets resulting from operations | $ | 11,743 | 听 | 听 | $ | (1,326 | ) | 听 | $ | 12,196 | 听 | 听 | $ | (1,784 | ) |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||
| Net investment income per share (basic and diluted): | $ | 0.51 | 听 | 听 | $ | 0.32 | 听 | 听 | $ | 0.91 | 听 | 听 | $ | 0.69 | 听 |
| Earnings per share (basic and diluted): | $ | 1.02 | 听 | 听 | $ | (0.14 | ) | 听 | $ | 1.06 | 听 | 听 | $ | (0.20 | ) |
| Weighted average shares outstanding (basic and diluted): | 听 | 11,556,857 | 听 | 听 | 听 | 9,551,037 | 听 | 听 | 听 | 11,550,739 | 听 | 听 | 听 | 9,105,190 | 听 |
FAQ
What were GECC's Q2 2025 earnings per share and net investment income?
What is GECC's dividend yield and payment schedule for Q3 2025?
How much did GECC's net asset value (NAV) increase in Q2 2025?
What is the composition of GECC's investment portfolio as of Q2 2025?
What is GECC's debt structure and available liquidity?
