PhenixFIN Corporation Announces First Quarter 2026 Financial Results

About Us Team Investor Relations Contact Press Release View printer-friendly version << Back NEW YORK, Feb. 09, 2026 (GLOBE NEWSWIRE) -- PhenixFIN Corporation (NASDAQ: PFX, PFXNZ) (the "Company"), a publicly traded business development company, today announced its financial results for the first fiscal quarter of 2026. Highlights First quarter total investment income of $6.7 million; net investment income of $2.1 million Net asset value (NAV) of $155.8 million, or $77.92 per share as of December 31, 2025 Weighted average yield was 12.52% on debt and other income producing investments David Lorber, Chief Executive Officer of the Company, stated: “During the quarter, we generated solid investment income, supported by a 12.52% weighted average yield on income producing investments. While mark-to-market declines in certain equity positions weighed on results, these reflected company-specific softness despite a generally favorable economic backdrop. With our portfolio focused on U.S. companies, and with policy makers signaling support for domestic growth and a more supportive rate environment, we expect U.S. fundamentals to improve throughout 2026.” Selected First Quarter 2026 Financial Results for the Quarter Ended December 31, 2025: Total investment income was $6.7 million of which $6.5 million was attributable to portfolio interest and dividend income and $0.2 million was attributable to fee and other income. Total net expenses were $4.5 million and total net investment income was $2.1 million. The Company recorded a net realized gain of $0.7 million and net unrealized loss of $7.2 million.  Portfolio and Investment Activities for the Quarter Ended December 31, 2025: The fair value of the Company's investment portfolio totaled $295.6 million and consisted of 33 portfolio companies. The Company had 1 portfolio company investment on non-accrual status with a fair market value of $0.0 million. Liquidity and Capital Resources At December 31, 2025, the Company had $3.4 million in cash and cash equivalents, $57.5 million in aggregate principal amount of its 5.25% unsecured notes due 2028 and $90.0 million outstanding under the Credit Facility. ABOUT PHENIXFIN CORPORATION PhenixFIN Corporation is a non-diversified, internally managed closed-end management investment company incorporated in Delaware that has elected to be regulated as a business development company under the Investment Company Act of 1940, as amended. We completed our initial public offering and commenced operations on January 20, 2011. The Company has elected, and intends to qualify annually, to be treated, for U.S. federal income tax purposes, as a regulated investment company under Subchapter M of the Internal Revenue Code of 1986, as amended. Effective January 1, 2021, the Company operates under an internalized management structure. SAFE HARBOR STATEMENT AND OTHER DISCLOSURES This press release contains “forward-looking” statements. Such forward-looking statements reflect current views with respect to future events and financial performance, and the Company may make related oral forward-looking statements on or following the date hereof. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions. Certain factors could cause actual results and conditions to differ materially from those projected in these forward-looking statements, including among other things, PhenixFIN’s ability to deliver value to shareholders, increase investment activity, increase net investment income, implement its investment strategy and achieve its investment objective, source and capitalize on investment opportunities, grow its net asset value and perform well in the prevailing market environment, the ability of our portfolio companies to perform well and generate income and other factors that are enumerated in the Company’s periodic filings with the Securities and Exchange Commission. PhenixFIN Corporation disclaims and does not undertake any obligation to update or revise any forward-looking statement in this press release. Past performance is not a guarantee of future results. The press release contains unaudited financial results. For ease of review, we have excluded the word "approximately" when rounding the results. This press release is for informational purposes only and is not an offer to purchase or a solicitation of an offer to sell shares of PhenixFIN Corporation’s common stock. There can be no assurance that PhenixFIN Corporation will achieve its investment objective. For PhenixFIN investor relations, please call 212-859-0390. For media inquiries, please contact [email protected]. PHENIXFIN CORPORATION Consolidated Statements of Assets and Liabilities December 31, 2025 (Unaudited) September 30, 2025 Assets: Investments at fair value Non-controlled, non-affiliated investments (amortized cost of $138,028,011 and $139,342,491, respectively) $ 139,235,510 $ 145,280,169 Affiliated investments (amortized cost of $37,022,913 and $35,390,223, respectively) 36,675,568 35,381,405 Controlled investments (amortized cost of $149,859,961 and $149,656,451, respectively) 119,728,486 121,610,914 Total Investments at fair value 295,639,564 302,272,488 Cash and cash equivalents 3,406,847 7,289,371 Receivables: Interest receivable 1,036,662 1,203,404 Other receivable - 44,971 Dividends receivable 229,046 42,950 Other assets 2,642,679 2,746,775 Deferred tax asset, net 852,570 1,234,847 Deferred financing costs 1,308,020 1,384,767 Due from Affiliate 301,595 572,331 Prepaid share repurchase 42,076 96,342 Receivable for investments sold 1,922,102 21,549 Total Assets $ 307,381,161 $ 316,909,795 Liabilities: Credit facility and notes payable (net of debt issuance costs of $946,653 and $1,141,393, respectively) $ 146,544,966 $ 148,011,724 Accounts payable and accrued expenses 1,063,658 4,226,889 Other liabilities 2,481,418 2,439,405 Interest and fees payable 1,158,816 1,187,574 Taxes payable 178,690 137,538 Due to Affiliate 132,365 132,365 Total Liabilities 151,559,913 156,135,495 Commitments and Contingencies (see Note 8) Net Assets: Common Shares, $0.001 par value; 5,000,000 shares authorized; 2,723,709 shares issued; 1,999,634 and 2,003,769 common shares outstanding, respectively 2,000 2,004 Capital in excess of par value 704,457,776 704,640,648 Total distributable earnings (loss) (548,638,528 ) (543,868,352 ) Total Net Assets 155,821,248 160,774,300 Total Liabilities and Net Assets $ 307,381,161 $ 316,909,795 Net Asset Value Per Common Share $ 77.92 $ 80.24 PHENIXFIN CORPORATION Consolidated Statements of Operations (Unaudited) For the Three Months Ended December 31, 2025 2024 Interest Income: Interest from investments Non-controlled, non-affiliated investments: Cash $ 2,351,244 $ 2,824,594 Payment in-kind 234,383 354,681 Affiliated investments: Cash 838,583 - Payment in-kind - - Controlled investments: Cash 445,684 588,195 Payment in-kind - - Total interest income 3,869,894 3,767,470 Dividend income Non-controlled, non-affiliated investments 795,867 596,298 Affiliated investments - 142,495 Controlled investments 1,751,275 1,399,350 Total dividend income 2,547,142 2,138,143 Interest from cash and cash equivalents 55,366 227,032 Fee income (see Note 9) 187,833 11,064 Other income - 72,774 Total Investment Income 6,660,235 6,216,483 Expenses: Interest and financing expenses 2,432,335 2,545,811 Salaries and benefits 969,173 1,028,617 Professional fees, net 389,940 418,013 General and administrative expenses 360,485 221,793 Directors fees 204,000 204,000 Administrator expenses (see Note 6) 102,061 84,355 Insurance expenses 75,634 88,421 Total expenses 4,533,628 4,591,010 Net Investment Income 2,126,607 1,625,473 Realized and unrealized gains (losses) on investments Net realized gains (losses): Non-controlled, non-affiliated investments 692,220 1,168,670 Affiliated investments 1,384 - Controlled investments - - Total net realized gains (losses) 693,604 1,168,670 Net change in unrealized gains (losses): Non-controlled, non-affiliated investments (4,730,179 ) 808,538 Affiliated investments (338,527 ) (889,186 ) Controlled investments (2,085,938 ) (249,338 ) Total net change in unrealized gains (losses) (7,154,644 ) (329,986 ) Deferred tax benefit (expense) (423,429 ) - Loss on Extinguishment of Debt (see Note 5) (12,314 ) - Total realized and unrealized gains (losses) (6,896,783 ) 838,684 Net Increase (Decrease) in Net Assets Resulting from Operations $ (4,770,176 ) $ 2,464,157 Weighted average basic and diluted earnings per common share $ (2.38 ) $ 1.22 Weighted average common shares outstanding - basic and diluted (see Note 11) 2,001,470 2,019,778 PhenixFIN Corporation