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Midas Edge

New Mountain Finance Corp

For the period ended Jun 30, 2025. Filed Aug 4, 2025.

View on SEC.gov

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Jun 30, 2025 · Filed Aug 4, 2025

NMFC$6.88-0.4%Stored close · as of Nov 9, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

See the whole filing, with its images and exhibits
Contents

PART I. FINANCIAL INFORMATION

Item 1. Financial Statements

Consolidated Statements of Assets and Liabilities

June 30, 2025December 31, 2024
Assets
Investments at fair value
Non-controlled/non-affiliated investments (cost of $2,268,989 and $2,298,083, respectively)$2,227,265$2,277,352
Non-controlled/affiliated investments (cost of $128,280 and $124,254, respectively)102,983112,776
Controlled investments (cost of $700,121 and $679,587, respectively)670,448700,896
Total investments at fair value (cost of $3,097,390 and $3,101,924, respectively)3,000,6963,091,024
Securities purchased under collateralized agreements to resell (cost of $30,000 and $30,000, respectively)13,50013,500
Cash and cash equivalents57,39080,320
Interest and dividend receivable43,15642,379
Derivative asset at fair value5,718—
Receivable from unsettled securities sold4,386—
Receivable from affiliates413213
Other assets34,45319,265
Total assets$3,159,712$3,246,701
Liabilities
Borrowings
Unsecured Notes$989,987$978,503
SBA-guaranteed debentures262,500300,000
2022 Convertible Notes258,811260,091
Holdings Credit Facility246,063294,363
NMFC Credit Facility31,37227,944
Deferred financing costs (net of accumulated amortization of $45,690 and $63,971, respectively)(21,103)(24,191)
Net borrowings1,767,6301,836,710
Payable for unsettled securities purchased29,562—
Interest payable15,56117,109
Payable to broker13,9003,230
Management fee payable9,75910,467
Incentive fee payable5,3848,625
Deferred tax liability1,4531,410
Derivative liability at fair value1,4247,423
Other liabilities3,2032,436
Total liabilities1,847,8761,887,410
Commitments and contingencies (See Note 9)
Net assets
Preferred stock, par value $0.01 per share, 2,000,000 shares authorized, none issued——
Common stock, par value $0.01 per share, 200,000,000 shares authorized, 107,851,929 and 107,851,415 shares issued, respectively, and 106,926,713 and 107,851,415 shares outstanding, respectively1,0791,079
Paid in capital in excess of par1,365,8381,365,852
Treasury stock at cost, 925,216 and 0 shares held, respectively(9,642)—
Accumulated undistributed earnings(51,416)(13,592)
Total net assets of New Mountain Finance Corporation$1,305,859$1,353,339
Non-controlling interest in New Mountain Net Lease Corporation5,9775,952
Total net assets$1,311,836$1,359,291
Total liabilities and net assets$3,159,712$3,246,701
Number of shares outstanding106,926,713107,851,415
Net asset value per share of New Mountain Finance Corporation$12.21$12.55

Consolidated Statements of Operations

Three Months EndedSix Months Ended
June 30, 2025June 30, 2024June 30, 2025June 30, 2024
Investment income
From non-controlled/non-affiliated investments:
Interest income (excluding Payment-in-kind ("PIK") interest income)$53,584$57,583$105,697$113,820
PIK interest income2,9314,4375,8449,120
Dividend income5062,2841,0632,577
Non-cash dividend income3,9724,7978,4069,481
Other income8923,2912,2044,891
From non-controlled/affiliated investments:
Interest income (excluding PIK interest income)336376667744
PIK interest income1,0578732,0441,709
Non-cash dividend income2921,3741,9752,618
Other income6262125125
From controlled investments:
Interest income (excluding PIK interest income)2,0221,3833,5072,744
PIK interest income2,9003,7216,5887,856
Dividend income12,18312,34024,38125,023
Non-cash dividend income2,3781,5704,4493,066
Other income3754972,2031,370
Total investment income83,49094,588169,153185,144
Expenses
Interest and other financing expenses31,13833,11362,51264,129
Management fee9,75911,35119,99222,348
Incentive fee7,9719,55016,21818,939
Professional fees1,1001,1272,4892,194
Administrative expenses1,1841,1082,2882,076
Other general and administrative expenses331527847992
Total expenses51,48356,776104,346110,678
Less: management and incentive fees waived (See Note 5)(2,586)(861)(4,408)(1,762)
Net expenses48,89755,91599,938108,916
Net investment income before income taxes34,59338,67369,21576,228
Income tax expense (benefit)8234(11)235
Net investment income34,58538,43969,22675,993
Net realized (losses) gains:
Non-controlled/non-affiliated investments13,390(34,966)12,316(46,824)
Controlled investments(1)3,80038,8983,831
Net change in unrealized appreciation (depreciation):
Non-controlled/non-affiliated investments(29,012)32,895(24,806)56,055
Non-controlled/affiliated investments(8,928)(4,080)(13,819)(26,543)
Controlled investments(2,590)1,697(50,982)4,017
Securities purchased under collateralized agreements to resell—(3,000)—(3,000)
Foreign currency452129602106
Provision for taxes(21)(130)(43)(767)
Net realized and unrealized losses(26,710)(3,655)(37,834)(13,125)
Net increase in net assets resulting from operations7,87534,78431,39262,868
Less: Net increase in net assets resulting from operations related to non-controlling interest in New Mountain Net Lease Corporation(101)(313)(205)(989)
Net increase in net assets resulting from operations related to New Mountain Finance Corporation$7,774$34,471$31,187$61,879
Basic earnings per share$0.07$0.32$0.29$0.59
Weighted average shares of common stock outstanding - basic (See Note 11)107,750,160106,891,784107,800,508105,276,077
Diluted earnings per share$0.07$0.31$0.29$0.56
Weighted average shares of common stock outstanding - diluted (See Note 11)126,733,459125,759,769126,792,855124,101,624
Distributions declared and paid per share$0.32$0.34$0.64$0.70
ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.