CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2025	Jun. 30, 2024	Jun. 30, 2025	Jun. 30, 2024
Investment income:
Payment-in-kind interest income	$ 1,660	$ 2,099	$ 3,560	$ 4,214
Dividend income	829	1,017	1,858	2,029
Other income	54	265	282	302
Total investment income	9,873	15,627	21,511	30,809
Operating expenses:
Interest and other debt financing expenses	3,933	5,780	8,610	11,287
Base management fees	1,742	2,037	3,593	4,085
Incentive fees	0	351	0	1,719
Professional fees	267	199	530	467
Administrative service fees	374	250	727	459
General and administrative expenses	232	243	459	461
Directors’ fees	70	73	132	149
Total operating expenses, net of fee waivers	6,618	8,933	14,051	18,627
Net investment income before income taxes	3,255	6,694	7,460	12,182
Income tax expense (benefit), including excise taxes	(43)	135	77	153
Net investment income	3,298	6,559	7,383	12,029
Net realized gain (loss):
Non-controlled/non-affiliate company investments			(361)	510
Net realized gain (loss)	77	506	(361)	510
Net change in unrealized gain (loss):
Unrealized gain (loss) of investments			(8,359)	(6,086)
Net change in unrealized gain (loss)	(5,244)	(3,807)	(8,359)	(6,086)
Net gain (loss)	(5,167)	(3,301)	(8,720)	(5,576)
Net increase (decrease) in net assets resulting from operations	$ (1,869)	$ 3,258	$ (1,337)	$ 6,453
Per common share data:
Net investment income per share - basic (in dollars per share)	$ 0.15	$ 0.30	$ 0.34	$ 0.56
Net investment income per share - diluted (in dollars per share)	0.15	0.30	0.34	0.56
Net increase (decrease) in net assets resulting from operations per share - basic (in dollars per share)	(0.09)	0.15	(0.06)	0.30
Net increase (decrease) in net assets resulting from operations per share - diluted (in dollars per share)	$ (0.09)	$ 0.15	$ (0.06)	$ 0.30
Weighted average common shares outstanding - basic (in shares)	21,666	21,666	21,666	21,666
Weighted average common shares outstanding - diluted (in shares)	21,666	21,666	21,666	21,666
Non-controlled/non-affiliate company investments
Investment income:
Interest income	$ 6,757	$ 10,973	$ 14,786	$ 21,803
Payment-in-kind interest income	983	771	2,116	1,579
Dividend income	69	62	141	121
Other income	54	265	282	302
Total investment income	7,863	12,071	17,325	23,805
Net realized gain (loss):
Non-controlled/non-affiliate company investments	77	506	(361)	510
Net change in unrealized gain (loss):
Unrealized gain (loss) of investments	(2,603)	(2,985)	(5,176)	(4,329)
Non-controlled affiliate company investments
Investment income:
Interest income	573	1,273	1,025	2,461
Payment-in-kind interest income	677	1,328	1,444	2,635
Dividend income	60	55	117	108
Total investment income	1,310	2,656	2,586	5,204
Net realized gain (loss):
Non-controlled/non-affiliate company investments			0	0
Net change in unrealized gain (loss):
Unrealized gain (loss) of investments	(881)	(930)	(610)	(1,733)
Controlled affiliate company investments
Investment income:
Dividend income	700	900	1,600	1,800
Total investment income	700	900	1,600	1,800
Net realized gain (loss):
Non-controlled/non-affiliate company investments			0	0
Net change in unrealized gain (loss):
Unrealized gain (loss) of investments	$ (1,760)	$ 108	$ (2,573)	$ (24)

MONROE CAPITAL Corp 10-Q