PhenixFIN Corporation Announces Second Quarter 2026 Financial Results

Rhea-AI Summary

PhenixFIN (NASDAQ: PFX) reported Q2 fiscal 2026 results for quarter ended March 31, 2026. Key metrics: total investment income $5.2M, net investment income $0.7M, NAV $153.8M or $79.56 per share, weighted average yield 13.1%. Portfolio fair value was $295.8M across 32 companies. The Board declared a $0.07 special dividend payable May 28, 2026; the company repurchased 66,396 shares (3.3%). Cash was $3.1M with $90.0M drawn on the credit facility.

Positive

• NAV of $153.8M or $79.56 per share
• Weighted average yield of 13.1% on debt and income-producing investments
• Portfolio fair value totaled $295.8M across 32 companies
• Share buybacks of 66,396 shares representing 3.3% of shares outstanding
• Declared $0.07 special dividend payable May 28, 2026

Negative

• Net investment income was only $0.7M for the quarter
• Recorded a $1.1M net realized loss
• Cash and cash equivalents of $3.1M may limit near-term liquidity flexibility
• $90.0M outstanding under the credit facility, increasing leverage

News Market Reaction – PFX

-0.68%

-0.68% Session close to close

In the May 8 session, PFX declined 0.68%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

This announcement highlights second‑quarter 2026 results with $5.2M of total investment income, $0.7...

Analysis

This announcement highlights second‑quarter 2026 results with $5.2M of total investment income, $0.7M of net investment income, and NAV of $153.8M (or $79.56 per share). The portfolio’s fair value of $295.8M, a 13.1% weighted average yield, and a new $0.07 special dividend continue themes seen in prior earnings. Investors may track NAV progression, non‑accruals, leverage levels, and the cadence of any future special dividends.

Key Figures

Total investment income: $5.2M Net investment income: $0.7M NAV: $153.8M +5 more

8 metrics

Total investment income $5.2M Second fiscal quarter 2026

Net investment income $0.7M Second fiscal quarter 2026

NAV $153.8M As of March 31, 2026

NAV per share $79.56 As of March 31, 2026

Weighted average yield 13.1% Debt and income-producing investments

Special dividend $0.07 per share Declared May 5, 2026; payable May 28, 2026

Portfolio fair value $295.8M Investment portfolio as of March 31, 2026

Cash and equivalents $3.1M As of March 31, 2026

Previous Earnings Reports

5 past events · Latest: Feb 09 (Neutral)

Same Type Pattern 5 events

Date	Event	Sentiment	24h Move	Catalyst
Feb 09	Quarterly earnings	Neutral	+1.8%	Q1 2026 results with $6.7M income and $2.1M net investment income.
Dec 12	Annual & Q4 earnings	Positive	+4.8%	FY and Q4 2025 results with higher NAV and special dividend declared.
Aug 06	Quarterly earnings	Positive	-0.4%	Q3 2025 results plus larger, cheaper extended credit facility.
May 06	Quarterly earnings	Neutral	-0.6%	Q2 2025 results with $6.0M income and $1.0M net investment income.
Feb 07	Quarterly earnings	Positive	+2.1%	Q1 2025 results with $6.2M income and special dividend announcement.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

Earnings headlines have usually produced modest moves, with mostly aligned reactions and only one mild divergence.

Recent Company History

Recent PhenixFIN earnings have featured steady total investment income in the mid‑single‑digit millions and NAV generally between $157M and $162.8M, alongside portfolio fair value around $286.8M–$302.3M. Special dividends of $1.43/share and an amended $100M credit facility highlighted capital return and funding flexibility. The new quarter continues this pattern of stable portfolio value near $295–296M, ongoing credit facility usage, and a focus on income generation and selective capital returns.

Key Terms

net asset value (nav), weighted average yield, non-accrual status, credit facility, +1 more

5 terms

net asset value (nav) financial

"Net asset value (NAV) of $153.8 million, or $79.56 per share as of March 31, 2026"

Net asset value (NAV) is the per-share value of an investment fund calculated by totaling the fund’s assets, subtracting its liabilities, and dividing the remainder by the number of outstanding shares. Think of it like a price tag on each share of a collective piggy bank: investors use NAV to see what each share is worth, to compare funds, and, for many funds, it’s the price at which shares are bought or redeemed.

weighted average yield financial

"Weighted average yield was 13.1% on debt and other income producing investments"

Weighted average yield is the combined income rate of a group of securities or holdings, calculated by averaging each holding’s yield while giving larger positions more influence. Investors use it to see the portfolio’s true expected income and to compare funds or bond mixes, because it shows how big holdings drive overall returns—like averaging the gas mileage of a fleet where bigger vehicles count more, revealing the real performance.

non-accrual status financial

"The Company had 1 portfolio company investment on non-accrual status with a fair market value of $0.0 million."

A loan or credit account is placed in non-accrual status when the lender stops recording expected interest income because the borrower is not making scheduled payments or repayment is doubtful. Think of it like a landlord who stops counting unpaid rent as future income once a tenant stops paying; it signals rising credit problems and potential losses. For investors, non-accrual levels indicate loan quality and can foreshadow write-downs, lower earnings, and increased risk to a lender’s balance sheet.

credit facility financial

"and $90.0 million outstanding under the Credit Facility."

A credit facility is a flexible loan arrangement that allows a borrower to access funds up to a set limit whenever needed, similar to a company having an overdraft option on a bank account. It matters to investors because it indicates how easily a business can secure cash when required, affecting its ability to manage expenses, invest, or respond to financial challenges.

unsecured notes financial

"$57.5 million in aggregate principal amount of its 5.25% unsecured notes due 2028"

Unsecured notes are loans a company issues to investors that are backed only by the issuer’s promise to pay, not by specific assets like buildings or equipment. Like an IOU without collateral, they usually pay interest but rank below secured creditors if the company fails, so they carry higher risk and often offer higher yields; investors watch them for credit strength, interest payments and recovery prospects in a default.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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NEW YORK, May 05, 2026 (GLOBE NEWSWIRE) -- PhenixFIN Corporation (NASDAQ: PFX, PFXNZ) (the "Company"), a publicly traded business development company, today announced its financial results for the second fiscal quarter of 2026.

Highlights

• Second quarter total investment income of $5.2 million; net investment income of $0.7 million
• Net asset value (NAV) of $153.8 million, or $79.56 per share as of March 31, 2026
• Weighted average yield was 13.1% on debt and other income producing investments
• Effective May 5, 2026, the Board declared a special dividend of $0.07 per share to be paid on May 28, 2026, to stockholders of record as of May 18, 2026
  
  

David Lorber, Chief Executive Officer of the Company, stated:

“While volatility and uncertainty are elevated in the markets, specifically in private credit, we continue to underwrite with a disciplined approach and engage in active portfolio management. Our overall portfolio was stable throughout the quarter. Our investment strategy is generally focused on asset-oriented industries. In addition, during the quarter we returned capital to our shareholders through our share buyback program, having repurchased 66,396 shares or 3.3% of our shares outstanding.”

Selected Second Quarter 2026 Financial Results for the Quarter Ended March 31, 2026:

Total investment income was $5.2 million of which $5.0 million was attributable to portfolio interest and dividend income and $0.2 million was attributable to fee and other income.

Total net expenses were $4.5 million and total net investment income was $0.7 million.

The Company recorded a net realized loss of $1.1 million and net unrealized gain of $1.7 million.  

Portfolio and Investment Activities for the Quarter Ended March 31, 2026:

The fair value of the Company's investment portfolio totaled $295.8 million and consisted of 32 portfolio companies.

The Company had 1 portfolio company investment on non-accrual status with a fair market value of $0.0 million.

Liquidity and Capital Resources

At March 31, 2026, the Company had $3.1 million in cash and cash equivalents, $57.5 million in aggregate principal amount of its 5.25% unsecured notes due 2028 and $90.0 million outstanding under the Credit Facility.

ABOUT PHENIXFIN CORPORATION

PhenixFIN Corporation is a non-diversified, internally managed closed-end management investment company incorporated in Delaware that has elected to be regulated as a business development company under the Investment Company Act of 1940, as amended. We completed our initial public offering and commenced operations on January 20, 2011. The Company has elected, and intends to qualify annually, to be treated, for U.S. federal income tax purposes, as a regulated investment company under Subchapter M of the Internal Revenue Code of 1986, as amended. Effective January 1, 2021, the Company operates under an internalized management structure.

 SAFE HARBOR STATEMENT AND OTHER DISCLOSURES

This press release contains “forward-looking” statements. Such forward-looking statements reflect current views with respect to future events and financial performance, and the Company may make related oral forward-looking statements on or following the date hereof. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions. Certain factors could cause actual results and conditions to differ materially from those projected in these forward-looking statements, including among other things, PhenixFIN’s ability to deliver value to shareholders, increase investment activity, increase net investment income, implement its investment strategy and achieve its investment objective, source and capitalize on investment opportunities, grow its net asset value and perform well in the prevailing market environment, the ability of our portfolio companies to perform well and generate income and other factors that are enumerated in the Company’s periodic filings with the Securities and Exchange Commission. PhenixFIN Corporation disclaims and does not undertake any obligation to update or revise any forward-looking statement in this press release.

Past performance is not a guarantee of future results. The press release contains unaudited financial results. For ease of review, we have excluded the word "approximately" when rounding the results. This press release is for informational purposes only and is not an offer to purchase or a solicitation of an offer to sell shares of PhenixFIN Corporation’s common stock. There can be no assurance that PhenixFIN Corporation will achieve its investment objective. 

For PhenixFIN investor relations, please call 212-859-0390. For media inquiries, please contact info@phenixfc.com.

PHENIXFIN CORPORATION Consolidated Statements of Assets and Liabilities
		March 31, 2026 (Unaudited)				September 30, 2025
Assets:
Investments at fair value
Non-controlled, non-affiliated investments (amortized cost of $128,237,811 and $139,342,491, respectively)		$	130,033,295			$	145,280,169
Affiliated investments (amortized cost of $37,828,011 and $35,390,223, respectively)			36,776,004				35,381,405
Controlled investments (amortized cost of $157,346,334 and $149,656,451, respectively)			129,001,392				121,610,914
Total Investments at fair value			295,810,691				302,272,488
Cash and cash equivalents			3,074,794				7,289,371
Receivables:
Interest receivable			1,303,922				1,203,404
Other receivable			-				44,971
Dividends receivable			64,800				42,950
Other assets			2,537,376				2,746,775
Deferred tax asset, net			727,925				1,234,847
Deferred financing costs			1,232,943				1,384,767
Due from Affiliate			275,173				572,331
Prepaid share repurchase			115,969				96,342
Receivable for investments sold			431,184				21,549
Total Assets		$	305,574,777			$	316,909,795
Liabilities:
Credit facility and notes payable (net of debt issuance costs of $864,414 and $1,141,393, respectively)		$	146,627,205			$	148,011,724
Accounts payable and accrued expenses			1,329,714				4,226,889
Other liabilities			2,499,673				2,439,405
Interest and fees payable			1,131,408				1,187,574
Taxes payable			48,137				137,538
Due to Affiliate			126,936				132,365
Total Liabilities			151,763,073				156,135,495
Commitments and Contingencies (see Note 8)
Net Assets:
Common Shares, $0.001 par value; 5,000,000 shares authorized; 2,723,709 shares issued;
1,933,238 and 2,003,769 common shares outstanding, respectively			1,933				2,004
Capital in excess of par value			701,315,531				704,640,648
Total distributable earnings (loss)			(547,505,760	)			(543,868,352	)
Total Net Assets			153,811,704				160,774,300
Total Liabilities and Net Assets		$	305,574,777			$	316,909,795
Net Asset Value Per Common Share		$	79.56			$	80.24

PHENIXFIN CORPORATION Consolidated Statements of Operations (Unaudited)
		For the Three Months Ended March 31,								For the Six Months Ended March 31,
		2026				2025				2026				2025
Interest Income:
Interest from investments
Non-controlled, non-affiliated investments:
Cash		$	2,242,062			$	2,957,380			$	4,800,297			$	5,950,065
Payment in-kind			250,799				263,784				278,191				618,465
Affiliated investments:
Cash			670,874				-				1,302,466				-
Payment in-kind			242,930				-				449,921				-
Controlled investments:
Cash			725,479				626,790				1,171,163				1,214,985
Payment in-kind			-				-				-				-
Total interest income			4,132,144				3,847,954				8,002,038				7,783,515
Dividend income
Non-controlled, non-affiliated investments			428,380				378,232				1,224,247				974,530
Affiliated investments			268,540				111,736				268,540				254,231
Controlled investments			156,084				1,580,616				1,907,359				2,979,966
Total dividend income			853,004				2,070,584				3,400,146				4,208,727
Interest from cash and cash equivalents			48,871				45,812				104,237				104,753
Fee income (see Note 9)			164,374				29,673				352,207				40,737
Other income			-				25,000				-				97,774
Total Investment Income			5,198,393				6,019,023				11,858,628				12,235,506
Expenses:
Interest and financing expenses			2,308,578				2,578,963				4,740,913				5,124,774
Salaries and benefits			1,016,836				1,185,054				1,986,009				2,213,671
Professional fees, net			410,332				577,965				800,272				995,978
General and administrative expenses			362,493				307,739				722,978				529,532
Directors fees			169,428				204,000				373,428				408,000
Administrator expenses (see Note 6)			109,223				112,829				211,284				197,184
Insurance expenses			73,990				86,498				149,624				174,919
Total expenses			4,450,880				5,053,048				8,984,508				9,644,058
Net Investment Income			747,513				965,975				2,874,120				2,591,448
Realized and unrealized gains (losses) on investments
Net realized gains (losses):
Non-controlled, non-affiliated investments			(1,120,698	)			(1,065,013	)			(428,478	)			103,657
Affiliated investments			2,112				-				3,496				-
Controlled investments			-				-				-				-
Total net realized gains (losses)			(1,118,586	)			(1,065,013	)			(424,982	)			103,657
Net change in unrealized gains (losses):
Non-controlled, non-affiliated investments			587,985				1,183,172				(4,142,194	)			1,991,710
Affiliated investments			(704,662	)			(92,367	)			(1,043,189	)			(981,553	)
Controlled investments			1,786,533				(1,558,264	)			(299,405	)			(1,807,602	)
Total net change in unrealized gains (losses)			1,669,856				(467,459	)			(5,484,788	)			(797,445	)
Deferred tax benefit (expense)			(166,015	)			(329,636	)			(589,444	)			(329,636	)
Loss on Extinguishment of Debt (see Note 5)			-				-				(12,314	)			-
Total realized and unrealized gains (losses)			385,255				(1,862,108	)			(6,511,528	)			(1,023,424	)
Net Increase (Decrease) in Net Assets Resulting from Operations		$	1,132,768			$	(896,133	)		$	(3,637,408	)		$	1,568,024
Weighted average basic and diluted earnings per common share		$	0.57			$	(0.44	)		$	(1.83	)		$	0.78
Weighted average common shares outstanding - basic and diluted (see Note 11)			1,972,943				2,019,778				1,987,363				2,019,778

FAQ

What were PhenixFIN (PFX) Q2 2026 core income figures?

Net investment income for Q2 2026 was $0.7 million, and total investment income was $5.2 million. According to the company, $5.0 million came from portfolio interest and dividends and $0.2 million from fees and other income.

How large is PhenixFIN's NAV per share after Q2 2026 results (PFX)?

Net asset value was reported at $153.8 million, or $79.56 per share. According to the company, this NAV reflects portfolio valuations as of March 31, 2026 for investor reference.

What liquidity and leverage does PhenixFIN (PFX) report at March 31, 2026?

PhenixFIN had $3.1 million in cash and $90.0 million outstanding under its credit facility at March 31, 2026. According to the company, it also has $57.5 million principal of 5.25% unsecured notes due 2028.

Did PhenixFIN (PFX) pay any dividends or buybacks in Q2 2026?

The Board declared a special dividend of $0.07 per share payable May 28, 2026 to holders of record May 18, 2026. According to the company, it repurchased 66,396 shares, about 3.3% of shares outstanding.

What is PhenixFIN's portfolio composition and credit status in Q2 2026 (PFX)?

The portfolio fair value totaled $295.8 million across 32 portfolio companies, with one investment on non-accrual showing a fair value of $0.0 million. According to the company, asset-oriented industries remain the investment focus.