Triplepoint Venture Growth BDC | 8-K: FY2025 Q1 Revenue Misses Estimate at USD 22.45 M

LB filings
2025.05.07 20:24
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Revenue: As of FY2025 Q1, the actual value is USD 22.45 M, missing the estimate of USD 24.9 M.

EPS: As of FY2025 Q1, the actual value is USD 0.32, beating the estimate of USD 0.3051.

Net Investment Income

Net investment income for the first quarter of 2025 was $10.7 million, or $0.27 per share, compared to $15.5 million, or $0.41 per share, for the first quarter of 2024.

Net Assets

Net increase in net assets resulting from operations was $12.7 million, or $0.32 per share, for the first quarter of 2025, compared to $8.0 million, or $0.21 per share, for the first quarter of 2024.

Portfolio Yield

The weighted average annualized portfolio yield on debt investments for the first quarter of 2025 was 14.4%, compared to 15.4% for the first quarter of 2024.

Operating Expenses

Operating expenses for the first quarter of 2025 were $11.7 million, compared to $13.8 million for the first quarter of 2024.

Cash Flow and Liquidity

Total liquidity as of March 31, 2025, was $336.7 million, consisting of cash, cash equivalents, and restricted cash of $41.7 million and available capacity under its Revolving Credit Facility of $295.0 million.

Debt and Equity Investments

Funded $27.7 million in debt investments to five portfolio companies with a 13.3% weighted average annualized yield at origination. Realized gain of $2.3 million from the secondary sale of equity shares in Revolut Ltd; remaining warrant and equity shares with a fair value of $34.4 million as of March 31, 2025.

Outlook / Guidance

The company continues to capitalize on attractive lending opportunities with high-quality venture growth stage companies, particularly in sectors such as AI and enterprise software. TPVG is positioned to leverage its strong liquidity and financial flexibility to grow its portfolio selectively and disciplined, mindful of the market environment. There is strong demand for debt financing from venture growth stage companies, as demonstrated by fundings to date in Q2.

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