Rand Capital Corporation (RAND) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

On the line with me are Dan Pemberthy, our president and chief executive officer, and Margaret Brechtel, our executive vice president and chief financial officer. A copy of the release and slides that accompany our conversation is available at RandCapital.com. If you're following along with the slide deck, please turn to slide two, where I'd like to point out some important information. As you are likely aware, we may make forward-looking statements during this presentation. These statements apply to future events that are subject to risks and uncertainties, as well as other factors that could cause actual results to differ from where we are today. You can find a summary of these risks and uncertainties and other factors in the earnings release and other documents filed by the company with the Securities and Exchange Commission. These documents can be found on our website or at sec.gov. During today's call, we'll also discuss some non-GAAP financial measures. We believe these will be useful in evaluating our performance. Should not consider the presentation of this additional information in isolation. or as a substitute for results in accordance with generally accepted accounting principles. We have provided reconciliations of non-GAAP measures with comparable GAAP measures in the tables that accompany today's earnings release. With that, please turn to slide three, and I'll hand the discussion over to Dan. Dan? Thank you, Craig, and good afternoon, everyone. Our first quarter results underscore the resilience of our business model and the strength of our balance sheet, putting us in a solid position to execute on our continued long-term strategy. I am pleased to report that despite a modest decline in total investment income, we have delivered a 45% year-over-year i...