Company: NMFCZ
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0001496099-25-000035
Chunk: 22

Company: New Mountain Finance Corp
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 2
Chunk 22
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4Total interest income$59,403 $72,838 Total dividend income19,252 20,293 Other income1,874 2,196 Total investment income$80,529 $95,327 

Our total investment income decreased by approximately $14.8 million, or 16%, for the three months ended September 30, 2025 as compared to the three months ended September 30, 2024. For the three months ended September 30, 2025, total investment income of approximately $80.5 million consisted of approximately $50.0 million in cash interest from investments, approximately $7.6 million in PIK interest from investments, approximately $0.2 million of prepayment fees, net amortization of purchase premiums and discounts of approximately $1.7 million, approximately $11.9 million in cash dividends from investments, approximately $7.2 million in non-cash dividends from investments and approximately $1.9 million in other income. The decrease in interest income of approximately $13.4 million during the three months ended September 30, 2025 as compared to the three months ended September 30, 2024 was primarily due to a lower invested asset base, along with slightly lower yields on the portfolio. The decrease in dividend income of approximately $1.0 million during the three months ended September 30, 2025 as compared to the three months ended September 30, 2024 was was primarily due to decrease in equity investments held. Other income during the three months ended September 30, 2025, which represents fees that are generally non-recurring in nature, was primarily attributable to upfront and amendment fees received from 15 different portfolio companies.

128

Operating Expenses

 Three Months Ended(in thousands)September 30, 2025September 30, 2024Management fee$9,619 $11,700 Less: management fee waiver— (970)Total management fee9,619 10,730 Incentive fee7,345 8,821 Less: incentive fee waiver(4,544)— Total incentive fee2,801 8,821 Interest and other financing expenses31,720 37,661 Professional fees924 1,019 Administrative expenses916 1,059 Other general and administrative expenses478 531 Total expenses46,458 59,821 Income tax expense29 118 Net expenses after income taxes$