Runway Growth Finance Corp. RWAY

Nasdaq

Runway Growth Finance Corp.

Runway Growth Finance Corp. ("we," "us," "our," or the "Company"), a Maryland corporation formed on August 31, 2015, is structured as an externally managed, non-diversified closed-end management investment company. On August 18, 2021, we changed our name to "Runway Growth Finance Corp." from "Runway Growth Credit Fund Inc." We are a specialty finance company focused on providing senior secured loans to high growth-potential companies in technology, healthcare, business services, financial services, select consumer services and products and other high-growth industries. Our goal is to create significant value for our stockholders and the entrepreneurs we support by providing high growth-potential companies with hybrid debt and equity financing that is more flexible than traditional credit and less dilutive than equity. Our investment objective is to maximize our total return to our stockholders primarily through current income on our loan portfolio, and secondarily through capital gains on our warrants and other equity positions. We are managed by Runway Growth Capital, an experienced provider of growth financing for dynamic, late- and growth-stage companies. As of December 31, 2025, we had an investment portfolio of $927.4 million at fair value, and a net asset value of $485.0 million. Our offices are in Chicago, Illinois; Menlo Park, California; and New York, New York.

Last close 6.37 2026-10-26
Market cap $267.0M 2026-06-30 share count
52-week range 5.19 - 10.12

Valuation FY2025 figures against the last close

P/S—
P/E6.8x
P/FCF1.4x
EV/EBITDA—
Dividend yield19.3%
Diluted EPS0.93

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
SG&A ———$1.0M$827.0K$678.0K————
Total operating expenses $80.4M$80.9M$85.9M$48.0M$26.6M$19.6M————
Interest expense $42.7M$44.2M$43.1M$16.8M$4.1M$1.7M————
Pre-tax income $34.9M$74.0M$45.0M$32.5M$45.6M$47.0M————
Income tax $900.0K$400.0K$700.0K$300.0K$0$1.3K————
Net income $34.0M$73.6M$44.3M$32.2M$45.6M$47.0M————
EPS, basic 0.931.891.090.791.331.70————
EPS, diluted 0.931.891.090.791.331.70————
Shares, diluted (wtd. avg.) 36.7M38.9M40.5M41.0M34.2M27.6M18.7M9.3M2.8M10,774

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $18.2M$5.8M$3.0M$5.8M$4.7M$14.9M$45.8M———
Total assets $960.1M$1.09B$1.08B$1.14B$738.3M—————
Long-term debt $435.3M$552.3M$510.1M$549.0M$79.5M—————
Total liabilities $475.1M$576.5M$532.1M$565.7M$132.2M—————
Retained earnings -$49.9M-$43.5M-$47.6M-$19.3M-$267.0K—————
Total equity $485.0M$514.9M$547.1M$576.1M$606.2M$466.2M$376.3M———

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $186.3M$69.8M$112.4M-$359.8M-$61.2M-$106.1M————
Financing cash flow -$173.9M-$67.0M-$115.2M$360.9M$51.1M$75.2M————
Dividends paid $51.4M$69.9M$73.3M$51.6M$17.9M$7.3M————
Buybacks $12.5M$36.0M—$10.8M——————

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-104117.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. 0 20M 40M 60M 80M Net income, FY2020: 47M Net income, FY2021: 45.6M Net income, FY2022: 32.2M Net income, FY2023: 44.3M Net income, FY2024: 73.6M Net income, FY2025: 34M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue — — — — — — — — — —
Gross profit — — — — — — — — — —
Net income — — — — $47.0M $45.6M $32.2M $44.3M $73.6M $34.0M

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
  • Regulation FD disclosure Item 7.01
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Material agreement signed Item 1.01
  • New debt or obligation Item 2.03
  • Results announced Item 2.02
  • Regulation FD disclosure Item 7.01
  • Other event Item 8.01

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.