SEC 8-K filings with transcript text
Nov 5, 2026
2 rway-ex99_1.htm
Runway Growth Finance Corp. Reports Third Quarter 2026 Financial Results Delivered Total and Net Investment Income of $40.6 million and $15.9 million, Respectively
Investment Portfolio of $1.1 billion
Conference Call on Thursday, November 5, 2026 at 5:00 p.m. ET
MENLO PARK, Calif., November 5, 2026—Runway Growth Finance Corp. (Nasdaq: RWAY) (“Runway Growth” or the “Company”), a leading provider of flexible capital solutions to late- and growth-stage companies seeking an alternative to raising equity, today announced its financial results for the third quarter ended September 30, 2026.
Third Quarter 2026 Highlights
• Total investment portfolio of $1.1 billion at fair value
• Total investment income of $40.6 million
• Net investment income of $15.9 million, or $0.38 per share
• Net asset value of $494.7 million, or $11.94 per share
• Dollar-weighted annualized yield on debt investments of 15.8%
• Four investments completed in existing portfolio companies, representing $8.5 million in funded investments
• Aggregate proceeds of $140.0 million, including four full loan principal repayments totaling $130.7 million, $8.7 million in other scheduled loan principal amortization payments, and $0.6 million in equity proceeds
• Repurchased 769,037 shares during the quarter for an aggregate purchase price of $4.8 million
Fourth Quarter 2026 Distributions
• Declared fourth quarter 2026 dividend of $0.33 per share
“We are pleased to report solid third quarter results, reflecting strong earnings and stable NAV,” said Runway Growth Founder and Co-CEO David Spreng. “We intentionally moderated originations during the quarter as we continued to optimize the balance sheet, but remain well positioned to capitalize on demand for venture debt financing as the innovation economy grows.”
“It’s been an encouraging first few months at Runway as we continue to execute against our key priorities,” said Runway Growth Co-CEO Michael Rovner. “We have made meaningful progress diversifying the portfolio, bringing leverage back within our target range and expanding our share repurchase program. Looking ahead, we will continue to take a disciplined approach to capital allocation, with shareholder value at the center of our decision-making.”
Third Quarter 2026 Operating Results
Total investment income for the quarter ended September 30, 2026 was $40.6 million, compared to $36.7 million for the quarter ended September 30, 2025.
The Company's dollar-weighted annualized yield on average debt investments for the quarter ended September 30, 2026 was 15.8%. The Company calculates the yield on dollar-weighted debt investments for any period measured as (1) total investment-related income during the period divided by (2) the daily average of the fair value of debt investments outstanding during the period, including any investments on non-accrual status.
Total operating expenses for the quarter ended September 30, 2026 were $24.7 million, compared to $21.0 million for the quarter ended September 30, 2025.
Net investment income for the quarter ended September 30, 2026 was $15.9 million, or $0.38 per share, compared to $15.7 million, or $0.43 per share, for the quarter ended September 30, 2025.
Net realized gain was $10.0 thousand for the quarter ended September 30, 2026, compared to a net realized loss of $1.3 million for the quarter ended September 30, 2025.
For the quarter ended September 30, 2026, net change in unrealized loss was $5.2 million, compared to a net change in unrealized loss of $6.4 million for the quarter ended September 30, 2025.
For the quarter ended September 30, 2026, our net increase in net assets resulting from operations was $10.7 million, or $0.26 per share, compared to a net increase in net assets resulting from operations of $8.0 million, or $0.22 per share, for the quarter ended September 30, 2025.
Portfolio and Investment Activity
As of September 30, 2026, Runway Growth’s investment portfolio had an aggregate fair value of $1.1 billion in 77 companies, comprising $1.0 billion in loans, 96.2% of which are senior secured loans, and $69.7 million in warrants and other equity-related investments.
During the third quarter of 2026, Runway Growth completed four investments in existing portfolio companies, representing $8.5 million in funded investments. Total debt and equity fundings net of upfront loan origination fees were $8.4 million. Runway Growth received aggregate proceeds of $130.2 million in principal prepayments and equity sale proceeds and $9.7 million in scheduled amortizations.
Total portfolio investment activity for the three months ended September 30, 2026 and 2025 was as follows:
Three Months Ended September 30,
2026
2025
Beginning investment portfolio
$
1,192,350
$
1,024,951
Purchases of investments
8,447
53,708
PIK interest
1,998
4,096
Sales and prepayments of investments
(130,228
)
(126,074
)
Scheduled repayments of invest
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