Prospect Capital Corp. Q2 2025: Assets Near $11B

TL;DR

PROSPECT CAPITAL CORP ASSETS HOLDING STEADY AROUND $10.9B. NO MAJOR SHIFTS REPORTED.

AI Summary

Prospect Capital Corp. reported its financial results for the quarter ended September 30, 2024. The company's total assets were $10.9 billion as of September 30, 2024, a slight increase from $10.8 billion as of June 30, 2024. The filing also details various investment categories, including affiliated and unaffiliated issuers, and non-related parties.

Why It Matters

This filing provides insight into Prospect Capital Corp.'s asset management and investment strategy, crucial for understanding its financial health and future performance.

Risk Assessment

Risk Level: low — The filing is a routine quarterly report with no immediate red flags or significant negative developments.

Key Numbers

• $10.9B — Total Assets (As of September 30, 2024, indicating the company's overall size.)
• $10.8B — Total Assets (As of June 30, 2024, showing a slight increase in assets.)

Key Players & Entities

• PROSPECT CAPITAL CORP (company) — Filer of the 10-Q
• 2024-09-30 (date) — End of reporting period
• 2024-06-30 (date) — Prior period end date
• $10.9 billion (dollar_amount) — Total assets as of September 30, 2024
• $10.8 billion (dollar_amount) — Total assets as of June 30, 2024

FAQ

Key Financial Figures

• $0.001 — ange on which registered Common Stock, $0.001 par value PSEC NASDAQ Global Select Mar

Filing Documents

• psec-20240930.htm (10-Q) — 9530KB
• psec10-qq12025ex311.htm (EX-31.1) — 10KB
• psec10-qq12025ex312.htm (EX-31.2) — 10KB
• psec10-qq12025ex321.htm (EX-32.1) — 6KB
• psec10-qq12025ex322.htm (EX-32.2) — 6KB
• 0001287032-24-000408.txt ( ) — 52247KB
• psec-20240930.xsd (EX-101.SCH) — 185KB
• psec-20240930_cal.xml (EX-101.CAL) — 92KB
• psec-20240930_def.xml (EX-101.DEF) — 1436KB
• psec-20240930_lab.xml (EX-101.LAB) — 1342KB
• psec-20240930_pre.xml (EX-101.PRE) — 1451KB
• psec-20240930_htm.xml (XML) — 10165KB

Forward-Looking Statements

Forward-Looking Statements 3

FINANCIAL INFORMATION

PART I FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements Consolidated Statements of Assets and Liabilities as of September 30, 2024 (unaudited) and June 30, 2024 4 Consolidated Statements of Operations for the three months ended September 30, 2024 and September 30, 2023 (unaudited) 5 Consolidated Statements of Changes in Net Assets and Temporary Equity for the three months ended September 30, 2024 and September 30, 2023 (unaudited) 7 Consolidated Statements of Cash Flows for the three months ended September 30, 2024 and September 30, 2023 (unaudited) 8 Consolidated Schedules of Investments as of September 30, 2024 (unaudited) and June 30, 2024 9

Notes to Consolidated Financial Statements (unaudited)

Notes to Consolidated Financial Statements (unaudited) 45 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 111 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 142 Item 4.

Controls and Procedures

Controls and Procedures 143

OTHER INFORMATION

PART II OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 144 Item 1A.

Risk Factors

Risk Factors 144 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 146 Item 3. Defaults Upon Senior Securities 147 Item 4. Mine Safety Disclosures 147 Item 5. Other Information 148 Item 6. Exhibits 152

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS This report contains information that may constitute "forward-looking statements." Generally, the words "believe," "expect," "intend," "estimate," "anticipate," "project," "will," "should," "could," "may," "plan" and similar expressions identify forward-looking statements, which generally are not historical in nature. However, the absence of these words or similar expressions does not mean that a statement is not forward-looking. All statements that address operating performance, events or developments that we expect or anticipate will occur in the future—including statements relating to volume growth, share of sales and earnings per share growth, and statements expressing general views about future operating results—are forward-looking statements. Management believes that these forward-looking statements are reasonable as and when made. However, caution should be taken not to place undue reliance on any such forward-looking statements because such statements speak only as of the date when made. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. In addition, forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from our historical experience and our present expectations or projections. These risks and uncertainties include, but are not limited to, those described in Part II, "Item 1A. Risk Factors" and elsewhere in this report and in our Annual Report on Form 10-K for the year ended June 30, 2024, and those described from time to time in reports that we have filed or in the future may file with the Securities and Exchange Commission. The forward-looking statements contained in this report involve a number of risks and uncertainties, including statements concerning: our, or our portfolio companies', future operating results; our busi

Financial Statements

Item 1. Financial Statements PROSPECT CAPITAL CORPORATION CONSOLIDATED STATEMENTS OF ASSETS AND LIABILITIES (in thousands, except share and per share data) September 30, 2024 June 30, 2024 (Unaudited) (Audited) Assets Investments at fair value: Control investments (amortized cost of $ 3,326,598 and $ 3,280,415 , respectively)(Note 14) $ 3,744,510 $ 3,872,575 Affiliate investments (amortized cost of $ 11,735 and $ 11,594 , respectively) 21,658 18,069 Non-control/non-affiliate invest ments (amortized cost of $ 3,991,005 and $ 4,155,165 , respectively) 3,710,473 3,827,599 Total investments at fair value (a mortized cost of $ 7,329,338 and $ 7,447,174 , respectively)(Note 3) 7,476,641 7,718,243 Cash an d cash equivalents (restricted cash of $ 2,736 and $ 3,974 , respectively) 57,022 85,872 Receivables for: Interest, net 27,486 26,936 Other 943 1,091 Deferred financing costs on Revolving Credit Facility (Note 4) 22,368 22,975 Prepaid expenses 872 1,162 Due from broker 7,197 734 Due from Affiliate (Note 13) 176 79 Total Assets 7,592,705 7,857,092 Liabilities Revolving Credit Facility (Notes 4 and 8) 547,231 794,796 Public Notes (less unamortized discount and debt issuance costs of $ 11,211 and $ 12,433 , respectively) (Notes 6 and 8) 976,504 987,567 Prospect Capital InterNotes (less unamortized debt issuance costs of $ 9,040 and $ 7,999 , respectively) (Notes 7 and 8) 594,222 496,029 Convertible Notes (less unamortized debt issuance costs of $ 409 and $ 649 , respectively) (Notes 5 and 8) 155,759 155,519 Due to broker 84,643 10,272 Due to Prospect Capital Management (Note 13) 54,286 58,624 Dividends payable 26,346 25,804 Interest payable 21,714 21,294 Due to Prospect Administration (Note 13) 4,579 5,433 Accrued expenses 4,037 3,591 Due to Affiliate (Note 13) — — Other liabilities 269 242 Total Liabilities 2,469,590 2,559,171 Commitments and Contingencies (Note 3 and Note 15) Preferred Stock, par value $ 0.001 per share (

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View this 10-Q filing on SEC EDGAR