Rand Capital | 10-Q: FY2025 Q3 Revenue: USD 1.58 M

Revenue: As of FY2025 Q3, the actual value is USD 1.58 M.

EPS: As of FY2025 Q3, the actual value is USD -0.75.

EBIT: As of FY2025 Q3, the actual value is USD -489.79 K.

Segment Revenue

• Total Investment Income: $5,189,824 for the nine months ended September 30, 2025, compared to $6,421,822 for the same period in 2024.

Operational Metrics

• Net Investment Income: $4,688,928 for the nine months ended September 30, 2025, compared to $1,209,425 for the same period in 2024.
• Net Realized Loss on Investments: - $2,001,997 for the nine months ended September 30, 2025, compared to a gain of $11,108,282 for the same period in 2024.
• Net Change in Unrealized Depreciation on Investments: - $11,812,832 for the nine months ended September 30, 2025, compared to - $544,037 for the same period in 2024.

Cash Flow

• Net Cash Provided by Operating Activities: $14,009,105 for the nine months ended September 30, 2025, compared to $14,549,660 for the same period in 2024.
• Net Cash Used in Financing Activities: - $5,353,163 for the nine months ended September 30, 2025, compared to - $14,492,247 for the same period in 2024.

Unique Metrics

• Total Investments at Fair Value: $44,330,872 as of September 30, 2025, compared to $70,818,041 as of December 31, 2024.

Future Outlook and Strategy

• Core Business Focus: Rand Capital Corporation plans to continue focusing on higher yielding debt investments and maintaining its status as a regulated investment company (RIC) under Subchapter M of the Code.
• Non-Core Business: The company has shifted its investment strategy to focus on higher yielding debt investments and has elected U.S. Federal tax treatment as a RIC.