Company: NMFCZ
Filing Date: 2025-08-04
Form Type: 10-Q
Source: 0001496099-25-000027
Chunk: 284

Company: New Mountain Finance Corp
Filing Date: 2025-08-04
Form: 10-Q
Item: Part I, Item 1
Chunk 284
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30, 2025 as compared to the three months ended June 30, 2024 was primarily due to a higher dividend income balance in 2024 driven by a cash distribution received related to our ordinary shares in OA Topco, L.P. Other income during the three months ended June 30, 2025, which represents fees that are generally non-recurring in nature, was primarily attributable to upfront and amendment fees received from 12 different portfolio companies.

129

Operating Expenses

 Three Months Ended(in thousands)June 30, 2025June 30, 2024Management fee$9,759 $11,351 Less: management fee waiver— (861)Total management fee9,759 10,490 Incentive fee7,971 9,550 Less: incentive fee waiver(2,586)— Total incentive fee5,385 9,550 Interest and other financing expenses31,138 33,113 Professional fees1,100 1,127 Administrative expenses1,184 1,108 Other general and administrative expenses331 527 Total expenses48,897 55,915 Income tax expense8 234 Net expenses after income taxes$48,905 $56,149     

Our total net operating expenses decreased by approximately $7.2 million for the three months ended June 30, 2025 as compared to the three months ended June 30, 2024.  Our management fee, net of a management fee waiver, remained relatively flat for the three months ended June 30, 2025 as compared to the three months ended June 30, 2024. Our incentive fee, net of an incentive fee waiver, decreased by approximately $4.2 million for the three months ended June 30, 2025 as compared to the three months ended June 30, 2024. The decrease in incentives fees was primarily attributable to an incentive fee waiver by the Investment Advisor, along with a decrease in investment income. Interest and other financing expenses decreased by approximately $2.0 million for the three months ended June 30, 2025 as compared to the three months ended June 30, 2024. The decrease in interest and other financing expenses was primarily attributable to a decrease in total outstanding borrowings. Our total professional fees, administrative expenses and total other general and administrative expenses for the three months ended June 30, 2025 as compared to the three months