WhiteHorse Finance, Inc. Q3 2025 Earnings Recap

WHF Q3 2025 November 12, 2025

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WhiteHorse Finance's third-quarter 2025 results show a decline in net investment income and NAV per share, leading to a prudent reset of the quarterly base distribution amid challenging market conditions.

Earnings Per Share Miss

$0.26 vs $0.29 est.

-10.5% surprise

Revenue Miss

15924000 vs 18434400 est.

-13.6% surprise

Market Reaction

1-Day +0.29%

5-Day +2.6%

30-Day +10.98%

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Key Takeaways

GAAP net investment income decreased to $6.1 million ($0.263 per share), down from $6.6 million ($0.282 per share) in Q2.
NAV per share declined by 3.6% to $11.41, impacted by $6.7 million in realized and unrealized losses.
The quarterly base distribution has been reset to $0.25 per share, equating to an 8.8% annualized yield based on NAV.
The adviser has voluntarily reduced the incentive fee from 20% to 17.5% for the next two fiscal quarters to support distributions.
A $15 million share buyback program has been approved to take advantage of the stock's discount to book value, currently over 40%.

This summary was generated by AI from the official earnings call transcript and is provided for informational purposes only. It does not constitute financial advice. For the complete transcript and financial data, visit WHF on AllInvestView.