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Earnings Per Share (Tables)
 12 Months Ended
Dec. 31, 2024
Earnings Per Share [Abstract]  
Summary of Computation of Basic and Diluted Earnings per Common Share

The following table sets forth the computation of the basic and diluted earnings per common share for the years ended December 31, 2024, 2023 and 2022 (in thousands except shares and per share information):

 

 

 

Year Ended

 

 

Year Ended

 

 

Year Ended

 

 

 

December 31, 2024

 

 

December 31, 2023

 

 

December 31, 2022

 

Earnings per common share - basic

 

 

 

 

 

 

 

 

 

Numerator for basic earnings per share

 

$

115,596

 

 

$

76,893

 

 

$

(30,375

)

Denominator for basic weighted average shares

 

 

52,705,732

 

 

 

38,910,150

 

 

 

31,672,089

 

Earnings/(Loss) per common share - basic

 

$

2.19

 

 

$

1.98

 

 

$

(0.96

)

Earnings per common share - diluted

 

 

 

 

 

 

 

 

 

Numerator for increase in net assets per share

 

 

115,596

 

 

 

76,893

 

 

 

(30,375

)

Adjustment for interest expense, fees, and deferred financing costs on Convertible Notes(1)

 

 

3,645

 

 

 

3,639

 

 

 

—

 

Numerator for diluted earnings per share

 

 

119,241

 

 

 

80,532

 

 

 

(30,375

)

Denominator for basic weighted average shares

 

 

52,705,732

 

 

 

38,910,150

 

 

 

31,672,089

 

Adjustment for dilutive effect of Convertible Notes(1)

 

 

4,023,116

 

 

 

3,795,725

 

 

 

—

 

Denominator for diluted weighted average shares

 

 

56,728,848

 

 

 

42,705,875

 

 

 

31,672,089

 

Earnings/(Loss) per common share - diluted

 

$

2.10

 

 

$

1.89

 

 

$

(0.96

)

 

(1)
No adjustments for interest or incremental shares were included for the year ended December 31, 2022 because the effect would be antidilutive.