Pinetree Capital (PNP) Q2 2025 earnings summary

Executive summary

• Book value per share increased to $9.24 as of June 30, 2025, up 12% year-to-date from $8.28 at December 31, 2024.

• Equity investments at fair value totaled $82,127, representing 95% of book value as of June 30, 2025.

Financial highlights

• Net investment losses for Q2 2025 were $1,985, compared to $980 in Q2 2024.

• Other income for Q2 2025 was $1,072, up from $173 in Q2 2024, mainly from dividends and interest.

• Net loss for Q2 2025 was $1,684, with EPS of ($0.18), compared to a net loss of $970 and EPS of ($0.10) in Q2 2024.

• Quarterly expenses for Q2 2025 were $367, representing 0.4% of book value.

• Expenses for the trailing twelve months ended June 30, 2025 were $1,379, or 1.6% of book value.

Key financial ratios and metrics

• Book value per share rose to $9.24 at June 30, 2025, from $8.28 at December 31, 2024.

• Expenses as a percentage of book value for Q2 2025 were 0.4%, and 1.6% for the trailing twelve months.