Revenue: As of FY2026 Q2, the actual value is USD 37.03 M, beating the estimate of USD 32.39 M.

EPS: As of FY2026 Q2, the actual value is USD 0.65, beating the estimate of USD 0.25.

EBIT: As of FY2026 Q2, the actual value is USD 31.19 M.

Financial Highlights

Total Investment Portfolio

• The total investment portfolio at fair value was $1.2 billion as of June 30, 2026, compared to $1,024,951 thousand for the quarter ended June 30, 2025. The ending investment portfolio was $1,192,350 thousand for Q2 2026, up from $1,004,233 thousand in Q2 2025.

Total Investment Income

• Total investment income for Q2 2026 was $37.0 million, an increase from $35.1 million for Q2 2025.
• For the six months ended June 30, 2026, total investment income was $66,476 thousand, compared to $70,545 thousand for the same period in 2025.

Net Investment Income

• Net investment income for Q2 2026 was $18.2 million, or $0.43 per share, up from $13.9 million, or $0.38 per share, for Q2 2025.
• For the six months ended June 30, 2026, net investment income was $28,815 thousand, compared to $29,547 thousand for the same period in 2025.

Total Operating Expenses

• Total operating expenses for Q2 2026 were $18.8 million, down from $21.2 million for Q2 2025.
• For the six months ended June 30, 2026, total operating expenses were $37,661 thousand, compared to $40,998 thousand for the same period in 2025.

Net Realized Gain (Loss)

• Runway Growth Finance Corp. reported a net realized loss of - $45.3 million for Q2 2026, compared to a net realized loss of - $1.5 million for Q2 2025.
• For the six months ended June 30, 2026, the net realized loss was - $44,005 thousand, compared to a net realized gain of $4,545 thousand for the same period in 2025.

Net Change in Unrealized Gain (Loss)

• The net change in unrealized gain was $54.3 million for Q2 2026, compared to a net change in unrealized gain of $4.4 million for Q2 2025.
• For the six months ended June 30, 2026, the net change in unrealized gain was $7,566 thousand, compared to a net change in unrealized loss of - $15,429 thousand for the same period in 2025.

Net Increase (Decrease) in Net Assets from Operations

• Net increase in net assets resulting from operations was $27.2 million, or $0.65 per share, for Q2 2026, compared to a net increase of $16.8 million, or $0.45 per share, for Q2 2025.
• For the six months ended June 30, 2026, there was a net decrease of - $7,624 thousand, or - $0.19 per share, compared to a net increase of $18,663 thousand, or $0.50 per share, for the same period in 2025.

Net Asset Value (NAV)

• As of June 30, 2026, net asset value per share was $11.91, compared to $12.13 as of March 31, 2026, and $13.42 as of December 31, 2025.
• Total net assets at the end of Q2 2026 were $502.6 million, an increase of 15% from $438.2 million as of March 31, 2026.

Dollar-Weighted Annualized Yield

• The dollar-weighted annualized yield on debt investments for Q2 2026 was 14.2%.

Liquidity and Capital Resources

• As of June 30, 2026, Runway Growth Finance Corp. had approximately $210.8 million in available liquidity, comprising $10.8 million in unrestricted cash and cash equivalents and $200.0 million in available borrowing capacity under its credit facility.
• The core leverage ratio at quarter-end was approximately 136%, compared to 98% for the quarter ended March 31, 2026.

Investment and Portfolio Activity

Funded Investments

• During Q2 2026, Runway Growth Finance Corp. funded approximately $239.6 million of investments acquired through the acquisition of SWK Holdings, including $216.2 million across 13 acquired loan positions and $23.4 million in acquired equity positions.
• Additionally, ten investments were completed in new and existing portfolio companies, representing $101.7 million in funded investments, which net of assignments was $85.8 million.
• Total debt and equity fundings net of upfront loan origination fees and purchase discounts were $325.4 million.

Aggregate Proceeds

• Runway Growth Finance Corp. received aggregate proceeds of $36.5 million, consisting of $15.9 million in assignments, $10.5 million from scheduled repayments, and $10.1 million in sale proceeds from equity.
• Total proceeds from sales and prepayments of investments were $25,974 thousand for Q2 2026, compared to $25,000 thousand for Q2 2025.
• Scheduled repayments of investments were $10,469 thousand for Q2 2026, compared to $4,230 thousand for Q2 2025.

Portfolio Composition

• As of June 30, 2026, the investment portfolio had an aggregate fair value of $1.2 billion across 79 companies, with $1.1 billion in loans (98.0% of which are senior secured loans) and $70.0 million in warrants and other equity-related investments.

Subsequent Portfolio Activity

• From July 1, 2026, through August 6, 2026, Runway Growth Finance Corp. funded $1.9 million in unfunded commitments on existing investments and received $17.1 million in debt prepayments.

Shareholder Returns

Distributions

• Runway Growth Finance Corp. declared a third-quarter 2026 dividend of $0.33 per share, payable on August 31, 2026, to stockholders of record as of August 17, 2026.

Share Repurchases

• During Q2 2026, Runway Growth Finance Corp. repurchased 249,169 shares for an aggregate purchase price of $1.4 million.

Outlook / Guidance

• Management expressed confidence in Runway Growth Finance Corp.’s long-term value, attributing it to the successful integration of the SWK portfolio, enhanced diversification, increased earnings capacity, and a broadened opportunity set.
• The company maintains a disciplined approach to capital allocation, balancing new investments with opportunistic share repurchases.
• The investment adviser and its affiliates have committed to purchase up to 10% of outstanding shares.