MidCap Financial Investment Corp
Business
MidCap Financial Investment Corp is a closed-end, externally managed business development company that provides financing to middle-market companies. It primarily offers directly originated and privately negotiated debt investments, including first lien senior secured loans, unitranche, mezzanine and other debt, as well as occasional equity interests and warrants. The company operates through affiliated service providers, with an investment advisory function and an administration function overseeing investment selection, monitoring, valuation and portfolio administration. It focuses on U.S. middle-market borrowers and distributes investments through negotiated private transactions and secondary-market purchases.
Summary from filing dated 2025-02-25
Financials
Consolidated Statement of Income
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-03-31 |
|---|---|---|---|---|---|
| PIK interest income | 18 | 12 | 3 | 4 | |
| Total Investment Income | 321 | 302 | 277 | 213 | |
| Management fees | 24 | 19 | 17 | 36 | |
| Performance-based incentive fees | 16 | 22 | 25 | 12 | |
| Interest and other debt expenses | 127 | 116 | 104 | — | |
| Administrative services expense | 7 | 4 | 6 | 6 | |
| Other general and administrative expenses | 6 | 8 | 10 | 9 | |
| Total expenses | 180 | 169 | 162 | 118 | |
| Performance-based incentive fee offset | — | 0 | −274,000 | −247,000 | |
| Expense reimbursements | −1 | −769,000 | −1 | −343,000 | |
| Net Expenses | 179 | 168 | 161 | 117 | |
| Net Investment Income | 142 | 133 | 116 | 96 | |
| Net realized gains (losses) | −46 | −76 | 131,000 | — | |
| Foreign currency forward contracts | −610,000 | — | — | — | |
| Foreign currency transactions | −233,000 | −592,000 | 69,000 | −6 | |
| Extinguishment of debt | −3 | — | — | — | |
| Net realized gains (losses) | −50 | −77 | 200,000 | −67 | |
| Foreign currency forward contracts | −9,000 | — | — | — | |
| Foreign currency translations | −3 | 2 | −3 | 9 | |
| Net change in unrealized gains (losses) | −29 | 43 | 3 | 54 | |
| Net Realized and Change in Unrealized Gains (Losses) | −79 | −34 | 3 | −14 | |
| Net Increase (Decrease) in Net Assets Resulting from Operations | 63 | 99 | 119 | 82 | |
| Earnings (Loss) Per Share - Basic | 0.68 | 1.27 | 1.82 | 1.28 |
Consolidated Statement of Cash Flows
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-03-31 |
|---|---|---|---|---|---|
| Net increase (decrease) in net assets resulting from operations | 63 | 99 | 119 | 82 | |
| Net change in unrealized (gains) losses | 29 | −43 | −3 | — | |
| Net amortization of premiums and accretion of discounts on investments | −7 | −9 | −8 | −10 | |
| Accretion of discount on notes | 2 | 2 | 604,000 | 684,000 | |
| Amortization of deferred financing costs | 5 | 5 | 5 | 5 | |
| PIK interest and dividends capitalized | −20 | −15 | −3 | −4 | |
| Purchases of investments | −1,278 | −1,013 | −417 | −1,141 | |
| Proceeds from sales and repayments of investments | 1,127 | 867 | 497 | 1,057 | |
| Cash acquired in AFT and AIF Mergers | — | 10 | — | — | |
| Decrease (increase) in interest receivable | −4 | 2 | −4 | −2 | |
| Decrease (increase) in dividends receivable | 79,000 | 618,000 | 4 | −1 | |
| Decrease (increase) in prepaid expenses and other assets | −2 | 16 | 2 | 188,000 | |
| Increase (decrease) in management and performance-based incentive fees payable | −6 | 854,000 | 2 | 1 | |
| Increase (decrease) in interest payable | 54,000 | −2 | 948,000 | 1 | |
| Increase (decrease) in accrued administrative services expense | 168,000 | −2 | 909,000 | 103,000 | |
| Increase (decrease) in other liabilities and accrued expenses | −5 | −6 | 429,000 | −115,000 | |
| Net Cash (Used in)/Provided by Operating Activities | −50 | −10 | 196 | −3 | |
| Issuances of debt | 2,120 | 446 | 631 | 495 | |
| Payments of debt | −1,881 | −334 | −655 | −401 | |
| Financing costs paid and deferred | −5 | −9 | −11 | −333,000 | |
| Repurchase of common stock | −19 | — | −2 | −21 | |
| Distributions paid | −142 | −140 | −123 | −93 | |
| Net Cash (Used in)/Provided by Financing Activities | 73 | −37 | −161 | −21 | |
| Net increase (decrease) in cash, cash equivalents and foreign currencies during the period | 24 | −46 | 35 | −24 | |
| Effect of foreign exchange rate changes on cash and cash equivalents | 36,000 | −48,000 | 16,000 | −18,000 | |
| Cash interest paid | 120 | 111 | 97 | 48 | |
| PIK income | 18 | 12 | 3 | 4 | |
| Purchases of investments | — | 596 | — | — | |
| Debt assumed | — | −177 | — | — | |
| Issuance of common stock | — | 440 | — | — |
Filings
Material Events
Insiders
Institutional Holders
Frequently asked questions
What is MidCap Financial Investment Corp's CIK number?
MidCap Financial Investment Corp's SEC CIK number is 0001278752 (1278752). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find MidCap Financial Investment Corp's SEC filings?
All of MidCap Financial Investment Corp's EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.
When did MidCap Financial Investment Corp last report earnings?
MidCap Financial Investment Corp (MFIC) most recently filed an earnings 8-K with the SEC on May 6, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001193125-26-209081). This is MidCap Financial Investment Corp's most recent earnings filing of record — not a forecast of its next earnings date.
What is MidCap Financial Investment Corp's most recent earnings 8-K?
MidCap Financial Investment Corp's latest earnings 8-K (Item 2.02) was filed May 6, 2026 under accession 0001193125-26-209081. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.
View MidCap Financial Investment Corp's latest earnings 8-K →
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