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Pinetree Capital
Pinetree Capital (PNP) investor relations material
Pinetree Capital Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary4 Mar, 2026
Executive summary
Book value per share (BVPS) increased 13% year-over-year to $9.33 as of December 31, 2025, from $8.28 at the end of 2024.
Net income for 2025 was $9,887, down from $32,327 in 2024, with EPS of $1.05 compared to $3.45 the prior year.
Net investment gains for 2025 were $10,415, a significant decrease from $32,892 in 2024.
Appointment of Henry Rachfalowski to the board of directors, bringing extensive investment experience.
Financial highlights
Total assets at year-end 2025 were $89,394, up from $78,270 at year-end 2024.
Equity increased to $87,586 at December 31, 2025, from $77,699 a year earlier.
Quarterly expenses for Q4 2025 were $347, representing 0.4% of BV.
Total expenses for 2025 were $1,640, or 1.9% of equity, up from $939 (1.2% of equity) in 2024.
Net investment losses of $523 in Q4 2025, compared to gains of $17,788 in Q4 2024.
Outlook and guidance
Software and technology sector headwinds have continued post-period, impacting the value of several investments.
Forward-looking statements caution significant risks and uncertainties may affect future results.
Drivers of the 1.9% expense-to-equity ratio
Outlook on tech sector headwinds post-period
Strategic value of new director's debt expertise
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Latest events from Pinetree Capital
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Q2 20246 Mar 2026 - Q3 2024 delivered strong net income and book value growth, with a new CIO appointed.PNPQ3 20246 Mar 2026
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- Net income and book value per share soared in 2024 on robust investment gains.PNPQ4 20245 Jun 2025
Next Pinetree Capital earnings date
Q1 202626 Apr, 2026
Pinetree Capital
Next Pinetree Capital earnings date
Q1 202626 Apr, 2026
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