Runway Growth Finance Corp. (RWAY) Income Statement
RWAY 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsRWAY revenue and net income
Where RWAY's revenue goes
2025Each bar shows an amount and its share of revenue. RWAY kept 24.3% of revenue as net income.
RWAY profit margins
RWAY growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +12.8% | +36.5% | +22.2% | — |
| Gross profit | +28.1% | +38.5% | +16.4% | — |
| Operating income | +4.2% | +33.5% | +10.3% | — |
| Net income | −53.7% | +1.8% | −6.2% | — |
| EPS (diluted) | −4.9% | +2.0% | +7.5% | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
RWAY quarterly EPS vs estimates
Runway Growth Finance beat the analyst EPS estimate in 3 of the last 8 quarters. Next report: November 5, 2026 (estimate $0.33).
RWAY income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $140.2M | $124.2M | $94.5M | $55.1M | $51.7M | $51.4M | $31.7M | $14.1M | $3.19B | $0 |
| Cost of revenue | $30.2M | $38.3M | $38.6M | $13.8M | $19.8M | $14.6M | $13.9M | $6.4M | $0 | — |
| Gross profit | $110.0M | $85.9M | $55.9M | $41.4M | $51.7M | $51.4M | $31.7M | $14.1M | $3.19B | — |
| Research & development | — | — | $0 | $0 | $1 | $1 | $0 | $1 | — | — |
| Sales, general & admin | $2.2M | $6.0M | $7.4M | $5.8M | $4.5M | $3.7M | $3.5M | $2.1M | $711.3M | $520,672 |
| Total operating expenses | $33.3M | $12.3M | $11.5M | $9.1M | $6.1M | $4.4M | $4.0M | $2.3M | $5.03B | $596 |
| Operating income | $76.7M | $73.6M | $44.3M | $32.2M | $45.6M | $47.0M | $27.6M | $12.3M | −$1.84B | −$596 |
| Interest income | $133.8M | $141.6M | $156.9M | $105.0M | $69.3M | $55.3M | $54.5M | $19.6M | — | — |
| Interest expense | $42.7M | $44.2M | $38.6M | $13.8M | $2.6M | $1.1M | $1.2M | $532,732 | — | $484 |
| Income before taxes | $34.0M | $73.6M | $44.3M | $32.2M | $45.6M | $47.0M | $27.6M | $11.8M | −$1.4M | −$903,041 |
| Income taxes | — | — | $121.4M | $27.5M | $1.6M | −$100 | $36.5M | −$161,141 | $405,251 | −$61 |
| Net income | $34.0M | $73.6M | $44.3M | $32.2M | $45.6M | $47.0M | $27.6M | $11.8M | −$1.4M | −$903,041 |
| EBITDA | $76.7M | $73.6M | $47.4M | $32.2M | $48.7M | $47.0M | $27.6M | $12.3M | −$1.84B | −$596 |
| EPS (diluted) | $1.55 | $1.63 | $1.93 | $1.46 | $1.25 | $1.08 | $1.24 | $1.07 | −$0.24 | — |
| Gross margin | 78.5% | 69.1% | 59.1% | 75.1% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | — |
| Operating margin | 54.7% | 59.3% | 46.9% | 58.5% | 88.2% | 91.4% | 87.2% | 87.5% | −57.7% | — |
| Net margin | 24.3% | 59.3% | 46.9% | 58.5% | 88.2% | 91.4% | 87.2% | 83.7% | −0.0% | — |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0 | $30.7M | $19.0M | $21.0M | $30.5M | $13.7M | $41.2M | $38.0M | $20.3M | $24.8M | $8.0M | $26.8M |
| Cost of revenue | $3.9M | $6.9M | $8.7M | $9.3M | $10.0M | $8.9M | $9.9M | $10.1M | $9.2M | $9.2M | $8.9M | $9.3M |
| Gross profit | −$12.1M | $23.8M | $10.4M | $11.6M | $20.5M | $4.8M | $31.2M | $27.9M | $11.1M | $15.6M | −$978,000 | $17.5M |
| Sales, general & admin | $1.0M | $604,000 | $1.6M | $1.8M | $1.8M | $1.5M | $1.4M | $1.6M | $1.3M | $1.9M | $1.8M | $1.5M |
| Total operating expenses | −$52.3M | $48.2M | $3.0M | $3.6M | $3.7M | $3.0M | $3.0M | $2.9M | $2.8M | $3.5M | $3.8M | $2.7M |
| Operating income | $40.2M | −$24.3M | $7.4M | $8.0M | $16.8M | $1.9M | $28.2M | $25.0M | $8.3M | $12.0M | −$4.8M | $14.8M |
| Interest income | $36.6M | $28.7M | $30.0M | $34.9M | $34.5M | $34.4M | $32.8M | $35.6M | $33.9M | $39.3M | $38.0M | $41.3M |
| Interest expense | $13.0M | $10.5M | $8.7M | $9.3M | $10.0M | $8.9M | $9.9M | $11.4M | $10.9M | $10.9M | $5.9M | $10.4M |
| Income before taxes | $27.2M | −$34.8M | $7.4M | $8.0M | $16.8M | $1.9M | $28.2M | $25.0M | $8.3M | $12.0M | −$4.8M | $14.8M |
| Income taxes | — | — | — | — | — | — | — | — | $25.5M | $29.5M | −$7.2M | −$7.2M |
| Net income | $27.2M | −$34.8M | $7.4M | $8.0M | $16.8M | $1.9M | $28.2M | $25.0M | $8.3M | $12.0M | −$4.8M | $14.8M |
| EBITDA | $40.2M | −$24.3M | $7.4M | $8.0M | $18.0M | $1.9M | $28.2M | $25.0M | $8.3M | $12.9M | −$4.0M | $14.8M |
| EPS (diluted) | $0.43 | $0.29 | $0.32 | $0.43 | $0.38 | $0.42 | $0.39 | $0.41 | $0.37 | $0.46 | $0.45 | $0.54 |
| Gross margin | — | 77.6% | 54.5% | 55.5% | 67.1% | 35.2% | 75.9% | 73.5% | 54.8% | 62.9% | −12.3% | 65.4% |
| Operating margin | — | −79.2% | 38.7% | 38.2% | 55.0% | 13.6% | 68.6% | 65.9% | 40.8% | 48.6% | −60.1% | 55.4% |
| Net margin | — | −113.4% | 38.7% | 38.2% | 55.0% | 13.6% | 68.6% | 65.9% | 40.8% | 48.6% | −60.1% | 55.4% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in RWAY's financial statements (latest annual report filed March 12, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
RWAY financial results
In fiscal year 2025 (ended December 31, 2025), Runway Growth Finance reported revenue of $140.2 million, up 12.8% from the year before. It had net income of $34.0 million (down 53.7%), a net profit margin of 24.3%. Diluted earnings per share came to $1.55. Over five years revenue grew at an average rate of 22.2% a year.
See the RWAY stock overview for the latest quote and news, or the RWAY chart for price history and technical indicators.
RWAY income statement FAQ
What is Runway Growth Finance's annual revenue?
Runway Growth Finance reported total revenue of $140.2 million for fiscal year 2025, which ended on December 31, 2025. That was up 12.8% from $124.2 million the previous year.
Is Runway Growth Finance profitable?
Yes. Runway Growth Finance reported net income of $34.0 million in fiscal 2025, a net profit margin of 24.3%; its operating margin was 54.7%.
What is Runway Growth Finance's gross margin?
Runway Growth Finance's gross margin was 78.5% in fiscal 2025: for every $100 of revenue, Runway Growth Finance kept $78 after the direct cost of its products and services.
How fast is Runway Growth Finance growing?
Revenue grew 22.2% a year on average over the last five fiscal years, from $51.4 million to $140.2 million.
What are Runway Growth Finance's earnings per share?
Runway Growth Finance earned $1.55 per diluted share in fiscal 2025, compared with $1.63 a year earlier.
When will Runway Growth Finance report its next earnings?
Runway Growth Finance is expected to report results for the quarter ending September 30, 2026 on November 5, 2026 after the market closes.
When does Runway Growth Finance's fiscal year end?
Runway Growth Finance's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 12, 2026.