Earnings Releases·Nov 5, 2026, 6:06 AM ET

MidCap Financial Investment Corporation — Q3 2026 Earnings Summary

Net investment income per share declined to $0.34 from $0.40 in the prior quarter, while net asset value (NAV) per share fell 3.8% to $12.86 due to a $44.0 million net loss on the portfolio driven by credit-related weakness in limited positions.
The Company announced a pending stock-and-cash acquisition by Ares Capital Corporation (ARCC) at $10.88 per share, which is expected to result in the full repayment and termination of the Amended Senior Secured Facility.
Management has suspended the share repurchase program and the dividend reinvestment plan in connection with the Transaction, though a quarterly dividend of $0.31 per share was declared for payment in December 2026.
Total assets decreased to $2.65 billion and the investment portfolio fair value dropped to $2.55 billion as of September 30, 2026, with net leverage and debt-to-equity ratios improving to 1.43x and 1.49x, respectively.
For the nine months ended September 30, 2026, net investment income fell to $94.6 million from $106.0 million in the prior year period, and earnings per share were $(0.71) compared to $0.81 in 2025.