PhenixFIN Corporation Announces Third Quarter 2026 Financial Results

Rhea-AI Summary

PhenixFIN Corporation (NASDAQ: PFX, PFXNZ) reported third fiscal quarter 2026 results for the period ended June 30, 2026. Total investment income was $6.5 million, generating net investment income of $2.1 million. The company recorded a net realized gain of $0.4 million and a net unrealized gain of $1.8 million, leading to a net increase in net assets from operations of $4.2 million or $2.19 per share.

Net asset value totaled $157.9 million, or $81.69 per share, up from $79.56 as of March 31, 2026 and reaching a six‑year high. The investment portfolio’s fair value was $301.6 million across 31 portfolio companies, with a weighted average yield of 13.2% on debt and other income‑producing investments. Liquidity included $2.2 million in cash and cash equivalents, $57.5 million of 5.25% unsecured notes due 2028, and $90.0 million outstanding under the credit facility. A special dividend of $0.07 per share was paid on May 28, 2026.

Positive

• Net investment income $2.1 million in Q3 2026 vs. $1.2 million in Q3 2025
• NAV per share rose to $81.69 at June 30, 2026 from $79.56 at March 31, 2026
• Net increase in net assets from operations $4.2 million in Q3 2026 vs. $1.5 million decrease in Q3 2025
• Weighted average yield of 13.2% on debt and income‑producing investments in Q3 2026
• Total expenses declined to $4.4 million in Q3 2026 from $5.0 million in Q3 2025
• Special dividend of $0.07 per share paid on May 28, 2026

Negative

• Cash and cash equivalents decreased to $2.2 million at June 30, 2026 from $7.3 million at September 30, 2025
• Total net assets declined to $157.9 million at June 30, 2026 from $160.8 million at September 30, 2025
• Investments at fair value edged down to $301.6 million from $302.3 million at September 30, 2025
• Nine‑month realized and unrealized loss on investments of $4.4 million for the nine months ended June 30, 2026

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With Internalized Management Team NAV/Share reaches Six Year High of $81.69

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

Highlights

• Third quarter total investment income of $6.5 million; net investment income of $2.1 million
• Net asset value (NAV) of $157.9 million, or $81.69 per share as of June 30, 2026 vs $79.56 per share as of March 31, 2026
• Weighted average yield was 13.2% on debt and other income producing investments
• A special dividend of $0.07 per share was paid on May 28, 2026, to stockholders of record as of May 18, 2026

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

“Credit quality across our portfolio remained resilient this quarter amid persistent macroeconomic volatility. We continue to source attractive private credit opportunities while optimizing our platform, with continued focus on enhancing long-term shareholder value.”

Selected Third Quarter 2026 Financial Results for the Quarter Ended June 30, 2026:

Total investment income was $6.5 million of which $6.2 million was attributable to portfolio interest, dividend income and PIK interest and $0.3 million was attributable to fee and other income.

Total expenses were $4.4 million and total net investment income was $2.1 million.

The Company recorded a net realized gain of $0.4 million and net unrealized gain of $1.8 million.  

Portfolio and Investment Activities for the Quarter Ended June 30, 2026:

The fair value of the Company's investment portfolio totaled $301.6 million and consisted of 31 portfolio companies.

Liquidity and Capital Resources

At June 30, 2026, the Company had $2.2 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 long-term 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
		June 30, 2026 (Unaudited)				September 30, 2025
Assets:
Investments at fair value
Non-controlled, non-affiliated investments (amortized cost of $133,498,823 and $139,342,491, respectively)		$	136,419,212			$	145,280,169
Affiliated investments (amortized cost of $38,802,355 and $35,390,223, respectively)			36,682,577				35,381,405
Controlled investments (amortized cost of $155,112,950 and $149,656,451, respectively)			128,535,521				121,610,914
Total Investments at fair value			301,637,310				302,272,488
Cash and cash equivalents			2,178,083				7,289,371
Receivables:
Interest receivable			1,421,515				1,203,404
Other receivable			—				44,971
Dividends receivable			61,200				42,950
Other assets			2,389,994				2,746,775
Deferred tax asset, net			670,560				1,234,847
Deferred financing costs			1,185,184				1,384,767
Due from Affiliate			258,310				572,331
Prepaid share repurchase			84,797				96,342
Receivable for investments sold			—				21,549
Total Assets		$	309,886,953			$	316,909,795
Liabilities:
Credit facility and notes payable (net of debt issuance costs of $781,263 and $1,141,393, respectively)		$	146,710,356			$	148,011,724
Accounts payable and accrued expenses			1,427,432				4,226,889
Other liabilities			2,463,039				2,439,405
Interest and fees payable			1,121,388				1,187,574
Taxes payable			77,509				137,538
Due to Affiliate			126,936				132,365
Administrator expenses payable (see Note 6)			97,386				—
Total Liabilities			152,024,046				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; 1,932,473 and 2,003,769 common shares outstanding, respectively			1,932				2,004
Capital in excess of par value			701,284,360				704,640,648
Total distributable earnings (loss)			(543,423,385	)			(543,868,352	)
Total Net Assets			157,862,907				160,774,300
Total Liabilities and Net Assets		$	309,886,953			$	316,909,795
Net Asset Value Per Common Share		$	81.69			$	80.24

PHENIXFIN CORPORATION Consolidated Statements of Operations (Unaudited)
		For the Three Months Ended June 30,								For the Nine Months Ended June 30,
		2026				2025				2026				2025
Interest Income:
Interest from investments
Non-controlled, non-affiliated investments:
Cash		$	2,437,421			$	3,758,928			$	7,237,718			$	9,708,993
Payment in-kind			349,010				213,590				627,201				832,055
Affiliated investments:							-
Cash			582,491								1,884,957				-
Payment in-kind			314,673				-				764,594				-
Controlled investments:							-
Cash			671,985				607,929				1,843,148				1,822,914
Total interest income			4,355,580				4,580,447				12,357,618				12,363,962
Dividend income
Non-controlled, non-affiliated investments			420,369				247,322				1,644,616				1,221,852
Affiliated investments			-				-				268,540				254,231
Controlled investments			1,391,618				617,056				3,298,977				3,597,022
Total dividend income			1,811,987				864,378				5,212,133				5,073,105
Interest from cash and cash equivalents			28,038				27,804				132,275				132,557
Fee income (see Note 9)			255,318				684,330				607,525				822,841
Total Investment Income			6,450,923				6,156,959				18,309,551				18,392,465
Expenses:
Interest and financing expenses			2,319,759				2,660,472				7,060,672				7,785,246
Salaries and benefits			1,078,675				1,237,767				3,064,684				3,451,438
Professional fees, net			285,347				304,540				1,085,619				1,300,518
General and administrative expenses			355,438				398,494				1,078,416				928,026
Directors fees			152,500				204,000				525,928				612,000
Administrator expenses (see Note 6)			109,123				106,740				320,407				303,924
Insurance expenses			74,812				87,460				224,436				262,379
Total expenses			4,375,654				4,999,473				13,360,162				14,643,531
Net Investment Income			2,075,269				1,157,486				4,949,389				3,748,934
Realized and unrealized gains (losses) on investments
Net realized gains (losses):
Non-controlled, non-affiliated investments			411,093				(1,665,458	)			(17,385	)			(1,561,801	)
Affiliated investments			(334	)			(10,320,353	)			3,162				(10,320,353	)
Controlled investments			-				-				-				-
Total net realized gains (losses)			410,759				(11,985,811	)			(14,223	)			(11,882,154	)
Net change in unrealized gains (losses):
Non-controlled, non-affiliated investments			1,124,905				(18,517	)			(3,017,289	)			1,973,193
Affiliated investments			(1,067,771	)			8,379,055				(2,110,960	)			7,397,502
Controlled investments			1,767,513				914,813				1,468,108				(892,789	)
Total net change in unrealized gains (losses)			1,824,647				9,275,351				(3,660,141	)			8,477,906
Deferred tax benefit (expense)			(86,737	)			55,511				(676,181	)			(274,125	)
Loss on Extinguishment of Debt (see Note 5)			-				-				(12,314	)			-
Total realized and unrealized gains (losses)			2,148,669				(2,654,949	)			(4,362,859	)			(3,678,373	)
Net Increase (Decrease) in Net Assets Resulting from Operations		$	4,223,938			$	(1,497,463	)		$	586,530			$	70,561
Weighted average basic and diluted earnings per common share		$	2.19			$	(0.74	)		$	0.30			$	0.03
Weighted average common shares outstanding - basic and diluted (see Note 11)			1,932,597				2,017,330				1,969,108				2,018,962

FAQ

How did PhenixFIN (NASDAQ: PFX) perform financially in the third quarter of 2026?

PhenixFIN reported total investment income of $6.5 million and net investment income of $2.1 million for Q3 2026. According to PhenixFIN, net realized gains were $0.4 million and net unrealized gains were $1.8 million, producing a $4.2 million increase in net assets from operations.

What was PhenixFIN’s NAV per share as of June 30, 2026 (PFX)?

PhenixFIN’s net asset value was $81.69 per share as of June 30, 2026. According to PhenixFIN, this compares with $79.56 per share at March 31, 2026 and represents a six‑year high in NAV per share for the company.

What were PhenixFIN’s net investment income and earnings per share in Q3 2026?

Net investment income for PhenixFIN was $2.1 million in Q3 2026, up from $1.2 million a year earlier. According to PhenixFIN, the net increase in net assets from operations was $4.2 million, or $2.19 weighted average basic and diluted earnings per common share.

How large was PhenixFIN’s investment portfolio and yield in the quarter ended June 30, 2026?

PhenixFIN’s investment portfolio had a fair value of $301.6 million across 31 portfolio companies at June 30, 2026. According to PhenixFIN, the weighted average yield on debt and other income‑producing investments during the quarter was 13.2%, reflecting its private credit focus.

What is PhenixFIN’s debt and liquidity position as of June 30, 2026?

As of June 30, 2026, PhenixFIN held $2.2 million in cash and cash equivalents. According to PhenixFIN, it had $57.5 million of 5.25% unsecured notes due 2028 outstanding and $90.0 million drawn under its credit facility, totaling significant interest‑bearing liabilities.

Did PhenixFIN (PFX) pay any dividends to shareholders in the third quarter of 2026?

Yes. PhenixFIN paid a special dividend of $0.07 per share on May 28, 2026. According to PhenixFIN, this dividend was distributed to stockholders of record as of May 18, 2026 and supplemented regular returns from net investment income and portfolio gains.

How did PhenixFIN’s nine‑month 2026 results compare with the prior year period?

For the nine months ended June 30, 2026, PhenixFIN generated $4.9 million net investment income versus $3.7 million a year earlier. According to PhenixFIN, total investment income was broadly stable at $18.3 million, while total expenses declined to $13.4 million from $14.6 million year over year.