share_log

Earnings Call Summary | Silver Spike Invt(SSIC.US) Q1 2024 Earnings Conference

Futu News ·  May 11 03:07  · Conference Call

The following is a summary of the Silver Spike Investment Corp. (SSIC) Q1 2024 Earnings Call Transcript:

Financial Performance:

  • Silver Spike Investment Corp. reported Q1 2024 gross investment income of $2.8 million, increased from $2.5 million in Q1 2023.

  • The firm incurred $0.8 million in expenses, excluding transaction-related costs, leading to a net investment income of $2 million.

  • Transaction-related expenses totaled $2.1 million, bringing net investment income down to negative $0.1 million.

  • Net assets was at $84.5 million, with a per-share investment income of $0.33, a significant improvement from $0.22 the previous year.

Business Progress:

  • The company reported strong business growth, with a promising deal pipeline exceeding $425 million, and acquired a loan portfolio from Chicago Atlantic Loan Portfolio, LLC.

  • The company's first lien loans or secured bonds remain in good standing, none in a non-accrual status.

  • The potential elimination of the 280E tax effect on cannabis rescheduling is expected to benefit its portfolio firms through improved cash flow and credit metrics.

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.

The above content is for informational or educational purposes only and does not constitute any investment advice related to Futu. Although we strive to ensure the truthfulness, accuracy, and originality of all such content, we cannot guarantee it.
    Write a comment