Q1 24 EPS
$0.46
BEAT +2.22%
Est. $0.45
Q1 24 Revenue
$40.0M
BEAT +0.00%
Est. $40.0M
Did RWAY Beat Earnings? Q1 2024 Results
Runway Growth Finance Corp. Posted steady first-quarter 2024 results, reporting net investment income of $0.46 per share on total investment income of $40.01 million, edging ahead of the $0.45 per share and $39.31 million recorded in the year-ago per… Read more Runway Growth Finance Corp. Posted steady first-quarter 2024 results, reporting net investment income of $0.46 per share on total investment income of $40.01 million, edging ahead of the $0.45 per share and $39.31 million recorded in the year-ago period. The modest improvement was driven largely by higher payment-in-kind interest income and fee income, which offset a slight dip in cash interest income, as the company maintained a dollar-weighted annualized yield of 17.4% on its debt investments. Deployment activity was intentionally restrained, with just $25.00 million in new funded loans across two investments, reflecting management's disciplined approach in a cautious venture lending environment; that selectivity contributed to portfolio contraction, with fair value slipping to approximately $1.02 billion from $1.07 billion at year-end. Net asset value per share eased to $13.36 from $13.50 at December 31, 2023, pressured by $6.62 million in unrealized losses. Looking ahead, management pointed to a new joint venture with Cadma Capital Partners and approximately $319.90 million in available liquidity as key levers for measured capital deployment while maintaining credit quality.
Key Takeaways
- • Dollar-weighted annualized yield on debt investments of 17.4%
- • 98.5% of term loans are senior secured
- • Net investment income increased to $0.46 per share from $0.45 per share year-over-year
- • Total investment income grew to $40.0 million from $39.3 million year-over-year
- • No realized losses on investments during Q1 2024
RWAY YoY Financials
Q1 2024 vs Q1 2023, source: SEC Filings
RWAY Revenue by Segment
Business unit performance breakdown
“In the first quarter, Runway Growth delivered solid financial performance, generated increased pipeline activity, as well as enhanced revenue and lead generation opportunities through the establishment of our joint venture with Cadma Capital Partners.”
— David Spreng, Q1 2024 Earnings Press Release
RWAY Earnings Trends
RWAY vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
RWAY EPS Trend
Earnings per share: estimate vs actual
RWAY Revenue Trend
Quarterly revenue: estimate vs actual
RWAY Quarterly Results
12 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 MISS | $0.31 | $0.29 | -7.05% | $29.5M | -0.18% |
| Q4 25 MISS FY | $0.35 | $0.32 | -7.35% | $30.0M | -4.96% |
| FY Full Year | — | $1.55 | — | $137.3M | — |
| Q3 25 BEAT | $0.39 | $0.43 | +10.40% | $36.7M | +4.91% |
| Q2 25 MISS | $0.39 | $0.38 | -1.66% | $35.1M | +2.57% |
| Q1 25 BEAT | $0.37 | $0.42 | +13.61% | $35.4M | +5.63% |
| Q4 24 MISS FY | $0.42 | $0.39 | -6.70% | $33.8M | -6.42% |
| FY Full Year | $1.67 | $1.64 | -1.60% | $144.6M | -1.72% |
| Q3 24 MISS | $0.45 | $0.41 | -8.89% | $36.7M | -5.25% |
| Q2 24 MISS | $0.44 | $0.37 | -15.91% | $34.2M | -9.66% |
| Q1 24 BEAT | $0.45 | $0.46 | +2.22% | $40.0M | +0.00% |
| Q4 23 MISS FY | $0.49 | $0.45 | -8.16% | $39.2M | +0.00% |
| FY Full Year | — | $1.93 | — | $164.2M | — |
| Q3 23 BEAT | $0.47 | $0.54 | +14.89% | $43.8M | +8.44% |
| Q2 23 BEAT | $0.45 | $0.49 | +8.89% | $41.9M | +99,650.00% |