#United States #New York #Q2 2025 #WhiteHorse Finance #Nasdaq WHF

WhiteHorse Finance Reports Q2 2025 Earnings Results

On August 7, 2025, WhiteHorse Finance, Inc. (Nasdaq: WHF) unveiled its financial performance for the second quarter of 2025, ending on June 30. The company also announced a quarterly distribution of $0.385 per share, scheduled for payment on October 3, 2025, to shareholders on record as of September 19, 2025.

Financial Highlights

Stuart Aronson, the Chief Executive Officer of WhiteHorse Finance, made noteworthy remarks on the company’s financial standing. Despite challenges in specific sectors of the investment portfolio, he expressed confidence in the overall stability and resilience of their broader investments. The results indicated that earnings remain subdued compared to the previous year, although strategic steps are being taken to revitalize underperforming investments, supported by their expert restructuring team.

The significant highlights from the earnings report include:

• - Total Investment Income: $18,838 thousand, up by 0.2% from $18,801 thousand in Q1 2025.
• - Total Expenses (including excise tax): $12,276 thousand, which represents a 2.7% increase from $11,958 thousand in the previous quarter.
• - Net Investment Income: $6,562 thousand, indicating a decrease of 4.1% from $6,843 thousand.
• - Distribution per Share: consistent at $0.385, maintaining its strong dividend history, as this marks the fifty-first consecutive quarter of distributions at or above $0.355.
• - Net Realized Losses: significant decreases of $22,045 thousand, contrasting from the previous quarter.
• - Net Unrealized Appreciation: a notable increase of $17,733 thousand, marking a recovery from prior depreciation.

Portfolio Overview

By the end of June 2025, WhiteHorse Finance maintained a diversified investment portfolio valued at approximately $629.3 million, consisting of 132 positions across 71 companies. The investments represent a weighted average effective yield of 11.9%, with around 77.6% comprised of first-lien secured loans, a vital component of their strategy to minimize risks amid fluctuating market conditions.

In the second quarter, WhiteHorse Finance made investments totaling $33.1 million in three new portfolio companies and added $5.9 million to existing investments. Noteworthy among these transactions were full repayments from CleanChoice Energy, Inc. and FGI Acquisition Corp., reflecting strong liquidity management.

Distribution Protocol

The distribution plan involves payments from gross taxable earnings, which may also include capital returns and gains. Detailed tax characteristics for the distributions will be provided in the subsequent Form 1099-DIV filed at year-end.

Conference Call Announcement

To discuss the Q2 results in further detail, WhiteHorse Finance will host a conference call on August 7, 2025, at 2:00 p.m. ET. Investors and interested parties can join the call via the designated telephone lines or through the company’s investor relations webpage.

About WhiteHorse Finance

As a business development company, WhiteHorse Finance focuses on originating and investing in loans for privately held lower middle market companies across diverse sectors. Managed by H.I.G. WhiteHorse Advisers, LLC, an affiliate of global asset manager H.I.G. Capital, the company underscores its commitment to enhancing shareholder value through strategic portfolio management and selective investment practices.

Through these initiatives, WhiteHorse Finance aims to navigate the current economic landscape effectively, ensuring a robust return for its investors and fortifying its financial standing in the competitive market.