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EarningsQ2 2026 Earnings Report
FDUS Q2 2026 EPS Results
Actual EPS$0.50
Consensus EPS$0.50
Beat/MissMissed by -<$0.01
One Year Ago EPS$0.57
FDUS Q2 2026 Revenue Results
Actual Revenue$49.93M
Expected Revenue$42.37M
Beat/MissBeat by +$7.56M
YoY Revenue Growth+54.09%
Earnings Announcement Details
QuarterQ2 2026
Date08/06/2026
TimeAfter Close
Conference CallThursday, August 6, 2026
FDUS Upcoming Earnings
Fidus Investment's next earnings date is estimated for October 29, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
FDUS Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed a generally positive operational and portfolio story: the company maintained adjusted NII sufficient to cover the base dividend, realized equity gains, reported a portfolio valued above cost, held ample liquidity, and eliminated nonaccruals post-quarter. However, there are near-term headwinds including a meaningful quarter-over-quarter decline in NII and adjusted NII, reduced fee income, higher interest expense from recent refinancing (60 bps increase), and an $11 million realized loss on a post-quarter exit. Management emphasized conservative underwriting, a healthy portfolio yield (12.5%), and an improving deal pipeline, suggesting confidence in future results despite short-term earnings pressure.Company Guidance
Adjusted NII Covers Base Dividend
Adjusted NII of $0.50 per share in Q2 2026, maintaining the company's track record of covering the base dividend; Board declared total dividend of $0.50 per share (base $0.43 + supplemental $0.07).
Realized Gains from Equity Monetizations
Recognized net realized gains of $6.4 million (approximately $0.17 per share) from monetizations of three equity investments (Medsurant Holdings, USG AS Holdings and Worldwide Express Operations).
Strong Portfolio Size and Valuation
Total investment portfolio fair value of $1.4 billion at quarter end, trading at 102% of cost, comprised of ~$1.3 billion in debt investments and $147.2 million in equity investments.
Healthy Credit Metrics and Low Nonaccruals
At 6/30 only one portfolio company (Virtex) was on nonaccrual representing <1% of the portfolio; subsequent exit of Virtex eliminated all nonaccruals as of the call date. Weighted average effective yield on debt investments was 12.5%, in line with Q1.
Ample Liquidity and Improved Maturity Profile
Total liquidity of approximately $170.1 million (cash $39.3M, $112.3M availability on line of credit, $18.5M available SBA debentures). Refinancing extended earliest debt maturity to June 2029, improving near-term maturity profile.
Originations and Ongoing Investment Activity
Originations in Q2 totaled $98 million (majority M&A-driven first-lien investments); invested $48.1 million in 4 new portfolio companies and provided acquisition capital to existing portfolio companies.
Conservative Underwriting and Collateral Cushion
Weighted average loan-to-value of 41% (targeting ≤50% on most deals) and weighted average leverage of cash-flow portfolio of ~4.1x, reflecting conservative structuring and downside protection.
Capital Structure and Statutory Leverage
Net debt-to-equity ratio of 1.0x and statutory leverage (excluding exempt SBA debentures) of 0.6x, indicating prudent use of leverage; company open to capital raises via ATM if pipeline growth warrants it.
FDUS Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed