Runway Growth Finance Corp. Stock Price, News & Analysis

Runway Growth Capital has been named to Inc. Magazine's 2024 Founder-Friendly Investors list, highlighting its role in providing growth loans as alternatives to equity raising. Since its 2015 founding, Runway has partnered with 83 companies and issued over $3.2 billion in total loan commitments. Recent notable transactions include a $20 million growth capital provision to Elevate Services, building on a previous $40 million commitment, a $65 million investment in Synack, and a $30 million investment in Bombora.

Runway Growth Finance Corp. (Nasdaq: RWAY), a provider of flexible capital solutions to late- and growth-stage companies, has announced its schedule for releasing third quarter 2024 financial results. The company will release its Q3 2024 financial results after market close on Tuesday, November 12, 2024.

Following the release, Runway Growth will host a conference call and webcast at 2:00 p.m. PT (5:00 p.m. ET) on the same day to discuss the results. Interested participants can register for the call or webcast through the Runway Growth Investor Relations website. It is recommended that participants register at least 15 minutes before the call starts.

For those unable to attend live, a replay of the webcast will be available two hours after the call and will remain accessible on the same web page for 90 days.

Runway Growth Finance Corp. (Nasdaq: RWAY) provided an operational and portfolio update for Q3 2024. The company funded seven investments totaling $75.3 million, including two new portfolio companies and five existing ones. Notable investments include:

1. $23 million to Snap! Mobile, Inc. (software platform for school fundraising)
2. $45.3 million to Zinnia Corporate Holdings, (business processing for insurance industry)
3. $20 million upsized loan to Elevate Services, Inc. (legal services provider)

Liquidity events included a $75 million full repayment from CloudPay, Inc. and a $10 million assignment to their joint venture. As of September 30, 2024, Runway Growth's portfolio comprised 49 debt investments and 86 equity investments across technology, healthcare, and consumer services sectors.

Runway Growth Finance Corp. (Nasdaq: RWAY) reported its Q2 2024 financial results, highlighting total investment income of $34.2 million and net investment income of $14.6 million or $0.37 per share.

The company managed an investment portfolio valued at $1.1 billion and repurchased 1,074,842 shares under a $25 million repurchase program. They declared a regular dividend of $0.40 per share and a supplemental dividend of $0.05 per share for Q3 2024.

Key metrics include a NAV per share of $13.14, and a dollar-weighted annualized yield on debt investments of 15.1%. Operating expenses decreased to $19.6 million from $22.2 million year-over-year. However, net realized gain on investments was zero, and there was an unrealized loss of $6.3 million.

Runway Growth completed two new investments totaling $75.5 million in funded loans and received $25.3 million in principal prepayments. The company maintains a strong liquidity position with $249.8 million available, including $8.8 million in cash.

Runway Growth Finance Corp. (Nasdaq: RWAY) has announced its third quarter 2024 dividend distributions. The Board of Directors declared a regular cash distribution of $0.40 per share and an additional supplemental dividend of $0.05 per share. Key dates for the dividend are:

• Declaration Date: July 30, 2024
• Record Date: August 12, 2024
• Payment Date: August 26, 2024

The company aims to distribute substantially all available earnings quarterly, subject to Board discretion and various factors. Runway Growth maintains an "opt out" dividend reinvestment plan for stockholders, automatically reinvesting cash dividends in additional common stock for those who haven't opted out.

Runway Growth Capital has provided an additional $20 million growth investment to Elevate, a leading provider of legal software and services. This investment builds upon a previous $40 million commitment made by Runway in 2023, bringing the total funding to $60 million. The capital will support Elevate's continued growth and innovation in the legal technology sector.

Brad Pritchard, Managing Director at Runway, expressed enthusiasm for the partnership with Elevate, highlighting the company's position as a market leader. Liam Brown, Chairman and CEO of Elevate, stated that the investment demonstrates confidence in their strategy and will enable the pursuit of inorganic growth opportunities.

Runway Growth Finance Corp. (Nasdaq: RWAY) announced its Q2 2024 portfolio update, detailing significant investment activities. The company completed two investments totaling $75.5 million in new portfolio companies, including a $58.4 million investment in a marketing technology firm and a $17.1 million investment in Onward Medical N.V. Additionally, a senior secured term loan to Turning Tech Intermediate, Inc. was repaid in full, amounting to $25.3 million. Runway Growth maintains a disciplined underwriting approach and a strong pipeline for future investments. As of June 30, 2024, the portfolio includes 47 debt investments and 83 equity investments, spanning technology, life sciences, and consumer services sectors.

Runway Growth Finance Corp. (Nasdaq: RWAY) will release its Q2 2024 financial results on August 8, 2024, after market close.

A conference call to discuss the results will be held at 2:00 p.m. PT (5:00 p.m. ET) on the same day. Interested parties can register online at the Runway Growth Investor Relations website. The earnings call can be accessed via conference call or webcast, with a replay available two hours post-call and archived for 90 days.

Runway Growth Finance Corp. announced the pricing of a secondary offering of 3,750,000 shares of common stock by a selling stockholder at $11.50 per share through underwriters. The offering is not from the company, and it's expected to settle around May 14, 2024. The underwriters have a 30-day option to purchase additional shares. Various investment banks are involved in managing the offering.