Rand Capital Reports Third Quarter Fiscal Year 2026 Results
Business Wire•04/11/2026•08:30 ET
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Key Highlights
- ➤Portfolio fair value $56.7 million, up 17.0% from year-end 2025
- ➤Net investment income $669,000, or $0.23 per share, down from $993,000
- ➤Total investment income $1.3 million, down 17% year over year
- ➤NAV per share $17.36, up from $17.33 sequentially
- ➤$5.0 million line-of-credit borrowing leaves approximately $12.4 million available
Expert Statements
Daniel P. Penberthy, President and Chief Executive Officer of Rand Capital
“Interest income from our portfolio companies increased sequentially in the third quarter, supported by contributions from investments made earlier in the year and building on a relatively stable income base during 2026.”
Daniel P. Penberthy, President and Chief Executive Officer of Rand Capital
“Improved operating performance at several portfolio companies also supported valuation gains, helping offset declines elsewhere and contributing to a modest sequential increase in net asset value per share.”
Daniel P. Penberthy, President and Chief Executive Officer of Rand Capital
“Our focus remains on strengthening the portfolio’s income producing base, actively managing challenged investments and preserving financial flexibility. With a predominantly debt-oriented portfolio and available borrowing capacity, we intend to remain selective in committing capital, balancing new investment opportunities with the needs of our existing portfolio and long-term shareholder returns.”
* Interest income from portfolio companies rose 4% sequentially to $1.2 million, supported by contributions from investments made earlier in 2026
* Third quarter total investment income was $1.3 million compared with $1.6 million in the prior-year period, primarily reflecting the impact of certain investments being on non-accrual status
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