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Earnings analysis · 10-Q

RWAY earnings analysis

Filed May 7, 2026 · Our reading of the company's report

The latest report

Runway Growth Finance Corp. reported a significant decline in total revenue and net income for Q1 2026, with revenues decreasing to $28 million from $37 million in Q4 2025, and net investment income also down from $15.6…

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Runway Growth Finance Corp. reported a significant decline in total revenue and net income for Q1 2026, with revenues decreasing to $28 million from $37 million in Q4 2025, and net investment income also down from $15.6 million to $10.6 million year-over-year. The company announced a quarter-end cash distribution of $0.33 per share despite facing headwinds including increased net unrealized losses and reduced operating cash flow.

Read the original on SEC.gov

Reported figures

Earnings per share
$0.25

What stood out

  • Revenue Decline

    Q1 2026 revenue dropped to $28M from $37M in Q4 2025, marking a substantial decrease.

  • EPS Decrease

    Reported Q1 2026 diluted EPS of $0.25, down from $0.43 in Q4 2025.

  • Cash Flow from Operations

    Operating cash flow provided only $5.9M in Q1 2026, a significant drop from $73.6M in Q1 2025.

  • Net Investment Income

    Net investment income fell to $10.6 million in Q1 2026, compared to $15.6 million in Q1 2025.

  • Dividend Declared

    Scheduled a dividend of $0.33 per share to be paid in Q2 2026 despite recent losses.

  • Investment Portfolio Stability

    Despite challenges, the investment portfolio's fair value remained at $886.3 million as of March 31, 2026.

What to watch

  • Increased Net Unrealized Losses

    Unrealized losses surged to $46.7 million in Q1 2026, impacting financial stability.

  • Decreased Cash Flow

    Operating cash flow decreased significantly to $5.9 million from $73.6 million year-over-year.

  • High Debt Obligations

    Total outstanding debt increased to $430.5 million, with a large portion due in the near term.

Management's outlook

No explicit numeric guidance provided in this quarterly filing. Outlook noted potential headwinds in market conditions.

This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.