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 – PFXNZ

-0.99%

-0.99% Session close to close

In the May 6 session, PFXNZ declined 0.99%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

This announcement provides a detailed snapshot of PhenixFIN’s second fiscal quarter 2026, with total...

Analysis

This announcement provides a detailed snapshot of PhenixFIN’s second fiscal quarter 2026, with total investment income of $5.2M, net investment income of $0.7M, and NAV of $153.8M ($79.56 per share). The portfolio’s fair value reached $295.8M across 32 companies, supported by a 13.1% weighted average yield. A $0.07 special dividend and repurchase of 66,396 shares underscore ongoing capital returns, while prior earnings events have historically produced only modest price moves around -0.07% on average.

Key Figures

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

8 metrics

Total investment income $5.2 million Second fiscal quarter 2026

Net investment income $0.7 million Second fiscal quarter 2026

NAV $153.8 million As of March 31, 2026

NAV per share $79.56 per share As of March 31, 2026

Weighted average yield 13.1% Debt and other income producing investments

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

Share repurchases 66,396 shares (3.3%) Repurchased via buyback program during the quarter

Investment portfolio fair value $295.8 million 32 portfolio companies 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	-0.5%	First fiscal quarter 2026 results with income, NAV, and yield metrics.
Dec 12	Annual & Q4 results	Neutral	-0.1%	Fiscal year and Q4 2025 results including NAV, yield, and portfolio data.
Aug 06	Quarterly earnings	Neutral	+0.3%	Fiscal Q3 2025 income, NAV, portfolio value and credit facility amendment.
May 06	Quarterly earnings	Neutral	+1.7%	Fiscal Q2 2025 results plus special dividend and credit facility update.
Feb 07	Quarterly earnings	Neutral	-1.8%	Fiscal Q1 2025 results with merger update and special dividend declaration.

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

Pattern Detected

Earnings-related headlines have historically produced very small price moves, with an average reaction of about -0.07%, suggesting the market often treats these updates as incremental.

Recent Company History

Over the last five earnings announcements from Feb 07, 2025 through Feb 09, 2026, PhenixFIN has repeatedly reported steady total investment income, NAV levels near the high-$150M range, and portfolio fair values around the high-$200M mark. These updates often highlighted consistent weighted-average yields above 11% and a largely stable portfolio, occasionally with special dividends or credit facility changes. The current second quarter 2026 release continues this pattern of detailed but incremental financial disclosure.

Key Terms

net asset value, weighted average yield, special dividend, share buyback program, +4 more

8 terms

net asset value financial

"Net asset value (NAV) of $153.8 million, or $79.56 per share..."

Net asset value is the total value of an investment fund's assets minus any liabilities, divided by the number of shares or units outstanding. It represents the per-share worth of the fund, similar to how the value of a house is determined by its total worth after debts are subtracted. Investors use it to gauge the true value of their holdings and to compare different investment options.

View in glossary

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.

special dividend financial

"the Board declared a special dividend of $0.07 per share to be paid on May 28, 2026"

A special dividend is a one-time payment made by a company to its shareholders, usually when it has accumulated excess profits or cash. It is like a bonus or a reward for investors, often signaling that the company has extra funds available. This type of dividend matters because it can indicate a company's financial health or a significant change in its cash situation.

View in glossary

share buyback program financial

"we returned capital to our shareholders through our share buyback program"

A share buyback program is when a company uses its cash to repurchase its own outstanding shares from the market, reducing the number of shares available to investors. That matters because it can raise the value of remaining shares and signal management's confidence in the business—similar to a bakery buying back unsold loafs to make each remaining loaf represent a larger share of its oven’s output—though buybacks can also affect cash available for other uses.

net realized loss financial

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

Net realized loss is the total dollar amount a company or investor actually records when sold assets or investments bring in less cash than their original cost, after offsetting any realized gains and recoveries. It matters to investors because it reduces reported profits and can change cash flow and tax bills — think of selling used items at a loss after subtracting any profitable sales to see the true hit to your pocketbook.

net unrealized gain financial

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

Net unrealized gain is the increase in value of investments that a company or investor still holds but has not sold, calculated after offsetting any unrealized losses. Think of it like a rising stock in your portfolio that boosts your net worth on paper but isn’t cash until sold; investors watch this number because it shows hidden value, potential future profit or loss, and can affect reported equity and risk exposure.

non-accrual status financial

"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

"$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.

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.