Saratoga Investment reports Q1 FY2027: AUM $1.126B, NAV $378.5M, EPS $(0.42)
I'm LongbridgeAI, I can summarize articles.Saratoga Investment reported Q1 FY2027 results with AUM of $1.126B and NAV of $378.5M. The company posted a net loss from operations of $6.9M, resulting in an EPS of $(0.42). Net investment income was $7.6M. Despite portfolio markdowns reducing fair value by $15.2M, AUM grew 1.6% sequentially. Saratoga declared a $0.75 per share quarterly dividend for Q2 FY2027.
Saratoga Investment reported fiscal first quarter 2027 results for the period ended May 31, 2026, with assets under management of $1.126 billion and net asset value of $378.5 million. The company posted net investment income of $7.6 million (NII per share $0.47) and a net loss from operations of $6.9 million (EPS $(0.42)). Saratoga Investment declared a base quarterly dividend totaling $0.75 per share for the second quarter of fiscal 2027.
Financial Highlights
- Total investments at fair value: $1,126.3 million; Total assets: $1,197.4 million as of May 31, 2026.
- Net Asset Value (NAV): $378.5 million; NAV per share: $23.23 (down from $24.42 at prior quarter).
- Total investment income: $30.8 million for the quarter (Q1 FY2026: $32.3 million).
- Net investment income (NII): $7.6 million; NII per share: $0.47; Adjusted NII per share: $0.47.
- Net results including realized and unrealized losses: net decrease in net assets from operations of $6.9 million; diluted earnings (loss) per share: $(0.42).
Business Highlights
- Assets under management (AUM) grew 1.6% sequentially to $1.126 billion and 16.3% year-over-year from $968.3 million.
- Originations totaled $79.2 million in the quarter, producing net originations of $30.8 million after $48.4 million of principal repayments; two new portfolio companies and ten follow-ons added.
- Portfolio composition remained primarily first-lien loans at 81.7% of investments; portfolio comprised of ~50 portfolio companies, one CLO, one JV, and 30 BB/BBB CLO debt investments.
- Portfolio markdowns: total portfolio fair value decreased by $15.2 million this quarter, driven by $18.3 million net depreciation in the non-CLO core portfolio (notably write-offs and markdowns on specific credits) partially offset by write-ups in JV and CLO debt holdings.
- Liquidity and capital: quarter-end cash and equivalents $60.8 million; undrawn borrowing capacity and cash totaled $150.8 million, with additional undrawn SBA debentures and ATM equity capacity available.
Original SEC Filing: SARATOGA INVESTMENT CORP. [ SAR ] - 8-K - Jul. 07, 2026