)
Overview
<ul>
<li>Business development company’s Q4 investment income fell 40% to $1.3 mln due to portfolio repayments</li>
<li>Net asset value per share decreased to $17.57 at year-end 2025</li>
<li>Company ended 2025 with over $23 mln liquidity and no debt outstanding</li>
</ul>
Outlook
<ul>
<li>Rand Capital did not provide specific financial guidance for future quarters or the full year</li>
</ul>
Result Drivers
<ul>
<li>PORTFOLIO REPAYMENTS - Portfolio repayments led to a 40% decrease in Q4 investment income, primarily due to reduced interest income</li>
<li>INCREASED DEBT INVESTMENTS - Debt investments rose to 79% of portfolio, reflecting focus on income-generating assets</li>
<li>LIQUIDITY AND NO DEBT - Ended year with over $23 mln liquidity and no debt, providing flexibility for future investments Company press release:</li>
</ul>
Key Details
Metric Beat/Mis Actual Consensu
s s
Estimate
<h3>Q4 $0.29</h3>
Dividend For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact . (This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

Rand Capital Q4 investment income falls 40% due to portfolio repayments