CEO Indranil Basu attributed the improved performance to tightening spreads across the capital structure, which allowed the company to execute a broader refinancing program and lower its debt costs. While the firm remains cautious about declaring a definitive turn in the market cycle, leadership expressed a constructive outlook regarding future opportunities within CLO equity.

The quarterly results represent a significant swing from the preceding three-month period, which saw a net loss of $22.5 million. The latest figures show a net change in unrealized appreciation on investments of $6.7 million, compared to a depreciation of $25.1 million in the first quarter. As of June 30, the company maintained leverage of 32.9% of total assets, down from 35.0% in March. Looking ahead, the company has declared monthly dividends of $0.13 per share for September, October, and November 2026.