PhenixFIN Corporation Announces Fiscal Year and Fourth Quarter 2025 Financial Results

About Us Team Investor Relations Contact Press Release View printer-friendly version << Back NEW YORK, Dec. 12, 2025 (GLOBE NEWSWIRE) -- PhenixFIN Corporation (NASDAQ: PFX, PFXNZ) (the "Company"), a publicly traded business development company, today announced its financial results for the fiscal year and the fourth fiscal quarter of 2025. Highlights Fourth quarter total investment income of $6.9 million; net investment income of $1.4 million Net asset value (NAV) of $160.8 million, or $80.24 per share as of September 30, 2025, vs. $79.37 per share as of September 30, 2024 Weighted average yield was 12.8% on debt and other income producing investments as of the fiscal year end David Lorber, Chief Executive Officer of the Company, stated: “Throughout fiscal year 2025, we remained focused on executing our strategy to grow NAV per share and enhance shareholder value. We continued our share repurchase program throughout the year, and in February we paid a special dividend of $1.43 per share. As always, we actively monitor our portfolio and assess potential impacts from economic and market developments. During the quarter, upon First Brands Group’s delayed refinancing of the First Lien Term Loan, we quickly sold our entire position at nearly par (95.5), a demonstration of our nimbleness in seeking to protect capital when our investment outlook changes. We look forward to delivering continued value for shareholders in 2026 and beyond.” Selected Fourth Quarter 2025 Financial Results for the Quarter Ended September 30, 2025: Total investment income was $6.9 million of which $6.7 million was attributable to portfolio interest and dividend income and $0.2 million was attributable to fee and other income. Total net expenses were $5.5 million and total net investment income was $1.4 million. The Company recorded a net realized loss of $0.04 million and net unrealized gain of $2.2 million.  Portfolio and Investment Activities for the Quarter Ended September 30, 2025: The fair value of the Company's investment portfolio totaled $302.3 million and consisted of 36 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 September 30, 2025, the Company had $7.3 million in cash and cash equivalents, $59.2 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 September 30, 2025 September 30, 2024 Assets: Investments at fair value Non-controlled, non-affiliated investments (amortized cost of $139,342,491 and $143,179,354 respectively) $ 145,280,169 $ 142,233,426 Affiliated investments (amortized cost of $35,390,223 and $20,564,242, respectively) 35,381,405 14,750,785 Controlled investments (amortized cost of $149,656,451 and $97,016,429, respectively) 121,610,914 70,931,647 Total Investments at fair value 302,272,488 227,915,858 Cash and cash equivalents 7,289,371 67,571,559 Receivables: Interest receivable 1,203,404 1,313,598 Other receivable 44,971 65,838 Dividends receivable 42,950 23,468 Other assets 2,746,775 1,066,323 Deferred tax asset, net 1,234,847 887,099 Deferred financing costs 1,384,767 760,680 Due from Affiliate 572,331 90,500 Prepaid share repurchase 96,342 101,115 Receivable for investments sold 21,549 2,955,775 Total Assets $ 316,909,795 $ 302,751,813 Liabilities: Credit facility and notes payable (net of debt issuance costs of $1,141,393 and $1,510,815, respectively) $ 148,011,724 $ 135,723,636 Accounts payable and accrued expenses 4,226,889 5,570,150 Other liabilities 2,439,405 294,063 Interest and fees payable 1,187,574 768,043 Taxes payable 137,538 - Due to Affiliate 132,365 88,148 Total Liabilities 156,135,495 142,444,040 Commitments and Contingencies (see Note 8) Net Assets: Common Shares, $0.001 par value; 5,000,000 shares authorized; 2,723,709 shares issued; 2,003,769 and 2,019,778 common shares outstanding, respectively 2,004 2,020 Capital in excess of par value 704,640,648 704,909,588 Total distributable earnings (loss) (543,868,352 ) (544,603,835 ) Total Net Assets 160,774,300 160,307,773 Total Liabilities and Net Assets $ 316,909,795 $ 302,751,813 Net Asset Value Per Common Share $ 80.24 $ 79.37 PHENIXFIN CORPORATION Consolidated Statements of Operations For the Year Ended September 30, 2025 2024 2023 Interest Income: Interest from investments Non-controlled, non-affiliated investments: Cash $ 12,190,186 $ 10,231,111 $ 8,031,539 Payment in-kind 1,355,918 938,879 506,555 Affiliated investments: Cash 614,409 742,881 1,925,293 Payment in-kind - - 460,856 Controlled investments: Cash 2,452,227 2,121,713 667,312 Payment in-kind - 268,831 557,981 Total interest income 16,612,740 14,303,415 12,149,536 Dividend income Non-controlled, non-affiliated investments 2,183,106 2,691,393 3,139,592 Affiliated investments 254,231 199,388 - Controlled investments 5,024,928 3,972,352 3,716,676 Total dividend income 7,462,265 6,863,133 6,856,268 Interest from cash and cash equivalents 194,954 500,079 400,031 Fee income (see Note 9) 992,363 514,949 324,290 Other income - 22 402,138 Total Investment Income 25,262,322 22,181,598 20,132,263 Expenses: Interest and financing expenses 10,278,961 6,609,473 5,531,833 Salaries and benefits 5,067,324 6,850,792 4,186,852 Professional fees, net 1,977,541 1,462,766 1,404,676 General and administrative expenses 1,239,221 1,093,922 983,274 Directors fees 816,000 750,000 728,833 Administrator expenses (see Note 6) 404,941 301,931 320,310 Insurance expenses 338,013 378,854 466,319 Total expenses 20,122,001 17,447,738 13,622,097 Net Investment Income 5,140,321 4,733,860 6,510,166 Realized and unrealized gains (losses) on investments Net realized gains (losses): Non-controlled, non-affiliated investments (1,618,869 ) 740,924 (10,538,228 ) Affiliated investments (10,316,867 ) (1,991,456 ) (1,018,267 ) Controlled investments 13,230 8,542,831 23,456 Total net realized gains (losses) (11,922,506 ) 7,292,299 (11,533,039 ) Net change in unrealized gains (losses): Non-controlled, non-affiliated investments 6,883,606 7,862,162 15,954,552 Affiliated investments 5,804,639 5,130,836 7,327,399 Controlled investments (1,960,755 ) (7,287,134 ) 8,659,262 Total net change in unrealized gains (losses) 10,727,490 5,705,864 31,941,213 Deferred tax benefit (expense) 210,210 887,099 - Total realized and unrealized gains (losses) (984,806 ) 13,885,262 20,408,174 Net Increase (Decrease) in Net Assets Resulting from Operations $ 4,155,515 $ 18,619,122 $ 26,918,340 Weighted average basic and diluted earnings per common share $ 2.06 $ 9.13 $ 12.87 Weighted average common shares outstanding - basic and diluted (see Note 11) 2,015,157 2,040,253 2,092,326 PhenixFIN Corporation