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Dec 31, 2024
SuRo Capital Q4 2024 Earnings Report
SuRo Capital Corp. reported its fourth quarter and fiscal year 2024 financial results, with net assets totaling approximately $157.6 million, or $6.68 per share, as of December 31, 2024.
Key Takeaways
SuRo Capital Corp. reported a net increase in net assets resulting from operations of less than $0.1 million for Q4 2024, a significant improvement from a net decrease of $9.1 million in Q4 2023. The company's net asset value per share was $6.68, down from $6.73 in the previous quarter but up from $7.99 at the end of 2023.
Net assets totaled approximately $157.6 million, or $6.68 per share, at December 31, 2024.
The company invested $54.5 million in AI infrastructure in 2024, with CoreWeave, Inc. being the single largest initial investment.
Net increase in net assets from operations was less than $0.1 million for Q4 2024, compared to a decrease of $9.1 million in Q4 2023.
The company reported a net realized gain on investments of $9.1 million in Q4 2024, up from $2.6 million in Q4 2023.
Forward Guidance
SuRo Capital Corp. anticipates continued growth and monetization opportunities from its portfolio, particularly with several companies nearing IPOs. The company also plans to continue its disciplined investment approach and share repurchase programs.
Positive Outlook
- CoreWeave, the single largest initial investment, filed for an IPO.
- Anticipated IPOs from other large investments like Canva, Whoop, Liquid Death, Vast Data, and OpenAI.
- Successful full exit of position in Oklo, achieving a significant return.
- Continued execution on a disciplined approach to deploying capital.
- Strong current positioning reminiscent of successful monetization periods in 2020 and 2021.
Challenges Ahead
- Market volatility could detrimentally impact business and portfolio companies.
- Risks associated with high-growth sectors and emerging consumer brands.
- Uncertainties related to the global economy.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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