Rand Capital Q3 net investment income rises to $0.33/share; total investment income falls 29% to $1.6M

RAND CAPITAL CORP

2025-Q3 EPS reported -$3.11

Net investment income $993k ($0.33/share) vs $887k ($0.34/share) in Q3 2024; adjusted NII $0.33/share vs $0.46.
Total investment income $1.6M, down 29% YoY; 39% of income was non-cash PIK interest (24% a year ago).
Received $8.3M repayments, funded $2.9M new/follow-on; portfolio fair value $44.3M, down 37% from Dec 2024.
Cash $9.5M, no debt, $18.3M credit line available; paid $0.29/share quarterly dividend.
New $2.5M investment in BlackJet Direct Marketing; realized $2.9M loss on Tilson Technology exit.

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