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PhenixFIN Corporation (NASDAQ: PFX) posts Q3 earnings, NAV hits $81.69

Filing Impact
(Moderate)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

PhenixFIN Corporation, a business development company, reported financial results for the third fiscal quarter ended June 30, 2026. Total investment income was $6.5 million, producing net investment income of $2.1 million after total expenses of $4.4 million. Net realized gains were $0.4 million and net unrealized gains were $1.8 million, resulting in a net increase in net assets from operations of $4,223,938, or $2.19 per common share.

As of June 30, 2026, the investment portfolio had a fair value of $301.6 million across 31 portfolio companies. Net assets were $157,862,907, and net asset value per common share was $81.69, described as a six-year high. The company held $2.2 million in cash and cash equivalents, $57.5 million of 5.25% unsecured notes due 2028, and $90.0 million outstanding under its credit facility. Management highlighted resilient credit quality and continued sourcing of private credit opportunities under an internalized management structure.

Positive

  • Net increase in net assets from operations of $4,223,938 ($2.19 per share) for the quarter ended June 30, 2026, compared with a net decrease of $1,497,463 in the prior-year quarter.
  • Net asset value per common share reached $81.69 at June 30, 2026, which the company characterized as a six-year high.

Negative

  • None.
Item 2.02 Results of Operations and Financial Condition Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Total investment income (Q3 2026) $6,450,923 For the three months ended June 30, 2026
Net investment income (Q3 2026) $2,075,269 For the three months ended June 30, 2026
Net increase in net assets from operations $4,223,938 For the three months ended June 30, 2026
Investment portfolio fair value $301,637,310 As of June 30, 2026; 31 portfolio companies
Total net assets $157,862,907 As of June 30, 2026
Net asset value per common share $81.69 As of June 30, 2026; six-year high
Credit facility and notes payable $146,710,356 As of June 30, 2026, net of debt issuance costs
Cash and cash equivalents $2,178,083 As of June 30, 2026
Net investment income financial
"Total expenses were $4.4 million and total net investment income was $2.1 million."
Net investment income is the money an investor or fund actually keeps from its investments after subtracting the costs of running those investments (like management fees, interest, and losses). Think of it as your paycheck from owning assets: gross returns minus the bills needed to earn them. Investors watch it because it shows how profitable the investment activities are, influences dividend payouts and cash available for growth, and helps compare true performance across funds or companies.
Net Asset Value Per Common Share financial
"Net Asset Value Per Common Share $ 81.69 $ 80.24"
Payment in-kind financial
"Payment in-kind 349,010 213,590 627,201 832,055"
Loss on Extinguishment of Debt financial
"Loss on Extinguishment of Debt (see Note 5) (12,314)"
Loss on extinguishment of debt is the accounting hit a company records when it retires or restructures a loan or bond for an amount that exceeds the debt’s recorded value—like paying more than the remaining balance to settle a loan early. It matters to investors because it reduces reported profit and can use cash, but may also cut future interest costs or signal financial stress; understanding it helps assess earnings quality and balance-sheet strength.
Total investment income (Q3 2026) $6,450,923 $6,450,923 vs $6,156,959 in Q3 2025
Net investment income (Q3 2026) $2,075,269 $2,075,269 vs $1,157,486 in Q3 2025
Net increase in net assets from operations (Q3 2026) $4,223,938 $4,223,938 vs $(1,497,463) in Q3 2025
Basic and diluted earnings per common share (Q3 2026) $2.19 $2.19 vs $(0.74) in Q3 2025
Net asset value per common share $81.69 $81.69 vs $80.24 at September 30, 2025

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FAQ

What were PhenixFIN (PFX) total and net investment income for the quarter ended June 30, 2026?
PhenixFIN reported total investment income of $6.5 million for the quarter ended June 30, 2026, generating net investment income of $2.1 million. This reflects income from interest, dividends, payment-in-kind interest, fees, and other investment-related sources.

What was PhenixFIN (PFX) net asset value per share as of June 30, 2026?
As of June 30, 2026, PhenixFIN’s net asset value per common share was $81.69. The company described this NAV level as a six-year high, based on net assets of $157,862,907 and 1,932,473 common shares outstanding.

How profitable was PhenixFIN (PFX) in the third fiscal quarter of 2026?
For the quarter ended June 30, 2026, PhenixFIN recorded a net increase in net assets from operations of $4,223,938, or $2.19 per common share. This result includes net investment income plus net realized and unrealized gains on investments and tax effects.

What is the size and composition of PhenixFIN (PFX) investment portfolio at June 30, 2026?
At June 30, 2026, PhenixFIN’s investment portfolio had a fair value of $301,637,310 across 31 portfolio companies. The portfolio included non-controlled, non-affiliated, affiliated, and controlled investments measured at fair value against their amortized cost.

What were PhenixFIN (PFX) debt and liquidity levels as of June 30, 2026?
As of June 30, 2026, PhenixFIN held $2,178,083 in cash and cash equivalents, with $57.5 million of 5.25% unsecured notes due 2028 and $90.0 million outstanding under its credit facility, supporting its investment and financing activities.

How did realized and unrealized gains affect PhenixFIN (PFX) Q3 2026 results?
In the quarter ended June 30, 2026, PhenixFIN reported net realized gains of $410,759 and a net change in unrealized gains of $1,824,647. Together with net investment income and tax effects, these gains contributed to the $4,223,938 net increase in net assets from operations.
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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): August 5, 2026

 

PHENIXFIN CORPORATION

(Exact name of registrant as specified in its charter)

 

Delaware   814-00818   27-4576073
(State or other jurisdiction of
incorporation or organization)		   (Commission file number)   (I.R.S. employer
identification no.)

 

445 Park Avenue, 10th Floor, New York, NY   10022
(Address of principal executive offices)   (Zip code)

 

Registrant’s telephone number, including area code: (212) 859-0390

 

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
   
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
   
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
   
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class   Trading Symbol(s)   Name of exchange on which registered
Common Stock, par value $0.001 per share   PFX   The NASDAQ Global Market
5.25% Notes due 2028   PFXNZ   The NASDAQ Global Market

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company ☐

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

 

 

 

 

Item 2.02 Results of Operations and Financial Condition.

 

On August 5, 2026, PhenixFIN Corporation issued a press release announcing its financial results for the quarter ended June 30, 2026. The press release is included as Exhibit 99.1 to this Form 8-K.

  

Item 9.01 Financial Statements and Exhibits.

 

(d) Exhibits

 

Exhibit No.   Description
99.1   Press Release dated August 5, 2026
104   Cover page interactive data file (embedded within the Inline XBRL document)

 

1

 

 

SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, PhenixFIN Corporation has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

DATE: August 5, 2026 PHENIXFIN CORPORATION
   
  /s/ David Lorber
  Name: David Lorber
  Title: Chief Executive Officer

 

2

 

Exhibit 99.1

 

PhenixFIN Corporation Announces Third Quarter 2026 Financial Results

 

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

 

New York, NY, August 5, 2026 -- 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.

 

2

 

 

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 

 

3

 

 

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 

 

4

 

Source: View Original Filing on SEC EDGAR

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