ICMB

MKT CAP:$27M

Investcorp Credit Management BDC, Inc.

Market Cap

$27M

Financial Services·Asset Management·🇺🇸 United States·NASDAQ

Financials·Asset Management·🇺🇸·NASDAQ

Stock Price

$1.88-$0.81 (-30.11%)

Apr 24, 2026

Company Details

Investcorp Credit Management BDC, Inc. is a business development company specializing in loan, mezzanine, middle market, growth capital, acquisitions, market/product expansion, organic growth, refinancings and recapitalization investments. ...

CEO

Suhail Ahmad Shaikh

IPO Date

Feb 6, 2014

Website

icmbdc.com

Key Metrics TTM

Revenue

$8M

-62.7% YoY

Net Income

-$10M

EPS (Diluted)

-$0.67

Free Cash Flow

$26M

Revenue / Share

$0.54

Gross Margin

75.6%

Operating Margin

-4.5%

Net Margin

-123.3%

FCF Margin

334.6%

P/S

3.5x

P/E

—

Earnings Reports

Q3 2026

May 12, 2026

PENDING

Q2 2026

Mar 30, 2026

-$6MEPS -$0.65

FY 2025

Nov 20, 2024

$23MEPS $0.84

Q4 2025

Aug 12, 2025

$5M-11.2%EPS -$0.03

Q3 2025

May 13, 2025

$4M+1162.2%EPS $0.15

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q2 21	$7M	$7M	$5M
Q3 21	$6M	$6M	$4M
Q4 21	$7M	$7M	$4M
Q1 22	$6M	$6M	$4M
Q2 22	$6M	$6M	$4M
Q3 22	$6M	$6M	$4M
Q4 22	$6M	$6M	$4M
Q1 23	$6M	$6M	$4M
Q2 23	$7M	$7M	$5M
Q3 23	$7M	$7M	$5M
Q4 23	$7M	$7M	$5M
Q3 24	$346.1K	-$802.1K	$5M
Q4 24	$5M	$5M	$3M
Q3 25	$4M	$4M	$3M
Q4 25	$5M	$5M	$3M
Q2 26	-$6M	-$8M	-$9M

Valuation

Quarter	P/S	P/E
Q2 21	2.1x	—
Q3 21	2.7x	10.6x
Q4 21	2.9x	—
Q1 22	2.9x	—
Q2 22	2.9x	—
Q3 22	3.0x	—
Q4 22	2.3x	21.7x
Q1 23	2.3x	59.5x
Q2 23	2.2x	—
Q3 23	2.1x	—
Q4 23	2.0x	16.4x
Q3 24	2.2x	11.4x
Q4 24	2.6x	34.3x
Q3 25	2.8x	9.8x
Q4 25	2.8x	18.0x
Q2 26	5.1x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q2 21	$6M	$6M
Q3 21	$10M	$10M
Q4 21	-$12M	-$12M
Q1 22	$4M	$4M
Q2 22	$32M	$32M
Q3 22	-$43M	-$43M
Q4 22	$23M	$23M
Q1 23	-$5M	-$5M
Q2 23	$14M	$14M
Q3 23	$2M	$2M
Q4 23	$3M	$3M
Q3 24	-$3M	-$3M
Q4 24	$5M	$5M
Q3 25	$3M	$3M
Q4 25	$5M	$5M
Q2 26	$12M	$12M

Capital Expenditures

Quarter	CapEx
Q2 21	$0
Q3 21	$1
Q4 21	$2
Q1 22	$0
Q2 22	$2
Q3 22	$0
Q4 22	$2
Q1 23	$0
Q2 23	$0
Q3 23	$2
Q4 23	$1
Q3 24	$2
Q4 24	$2
Q3 25	$4
Q4 25	$4
Q2 26	$0

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q2 21	-24.8%	-24.2%
Q3 21	-31.9%	-13.5%
Q4 21	-13.4%	-7.4%
Q1 22	-7.0%	-6.6%
Q2 22	-12.4%	-5.8%
Q3 22	-1.6%	-1.1%
Q4 22	-12.1%	-33.8%
Q1 23	-2.8%	-7.6%
Q2 23	+9.2%	-4.0%
Q3 23	+18.4%	-6.3%
Q4 23	+13.4%	+16.3%
Q3 24	-94.5%	-333.7%
Q4 24	-24.5%	-13.7%
Q3 25	-37.6%	-16.9%
Q4 25	-31.1%	-7.1%
Q2 26	-1919.3%	+166.0%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q2 21	$0	0.0%
Q3 21	$0	0.0%
Q4 21	$0	0.0%
Q1 22	$0	0.0%
Q2 22	$0	0.0%
Q3 22	$0	0.0%
Q4 22	$0	0.0%
Q1 23	$0	0.0%
Q2 23	$0	0.0%
Q3 23	$0	0.0%
Q4 23	$0	0.0%
Q3 24	$0	0.0%
Q4 24	$0	0.0%
Q3 25	$0	0.0%
Q4 25	$0	0.0%
Q2 26	$0	—

OpEx Breakdown

Quarter	G&A	S&M
Q2 21	$2M	$108.2K
Q3 21	$2M	$116.8K
Q4 21	$2M	$121.1K
Q1 22	$2M	$121.1K
Q2 22	$2M	$121.1K
Q3 22	$2M	$132.3K
Q4 22	$1M	$137.8K
Q1 23	$2M	$137.8K
Q2 23	$2M	$137.8K
Q3 23	$2M	$120.1K
Q4 23	$2M	$111.2K
Q3 24	$1M	—
Q4 24	$2M	$127.8K
Q3 25	$2M	$120.5K
Q4 25	$2M	$126.0K
Q2 26	$1M	—

War Chest

Quarter	Cash	Short-term Investments	Total
Q3 22	$3M	$0	$3M
Q4 22	$3M	$0	$3M
Q1 23	$963.6K	$0	$963.6K
Q2 23	$553.2K	$0	$553.2K
Q3 23	$3M	$0	$3M
Q4 23	$1M	$0	$1M
Q1 24	$90.8K	$0	$90.8K
Q2 24	$3M	$0	$3M
Q3 24	$90.8K	$0	$90.8K
Q4 24	$3M	$0	$3M
Q1 25	$2M	$0	$2M
Q2 25	$3M	$0	$3M
Q3 25	$2M	$0	$2M
Q4 25	$3M	$0	$3M
Q1 26	$12M	$0	$12M
Q2 26	$5M	$0	$5M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q2 21	14M	+0.1%	+1.7%
Q3 21	14M	+0.1%	+0.9%
Q4 21	14M	-0.0%	+1.2%
Q1 22	14M	+1.1%	+1.2%
Q2 22	14M	+2.3%	+3.4%
Q3 22	14M	+0.0%	+3.4%
Q4 22	14M	-3.3%	0.0%
Q1 23	14M	+3.4%	+2.3%
Q2 23	14M	+0.0%	+0.0%
Q3 23	14M	+0.0%	+0.0%
Q4 23	14M	+0.0%	+3.5%
Q3 24	14M	+0.0%	+0.1%
Q4 24	14M	-0.0%	+0.1%
Q3 25	14M	+0.1%	+0.2%
Q4 25	14M	+0.0%	+0.2%
Q2 26	14M	+0.1%	+0.2%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q2 21	$15.8K	450
Q3 21	$13.4K	450
Q4 21	$15.4K	430
Q1 22	$15.1K	430
Q2 22	$14.4K	430
Q3 22	$13.8K	430
Q4 22	$11.9K	490
Q1 23	$12.9K	490
Q2 23	$13.8K	490
Q3 23	$14.3K	490
Q4 23	$13.2K	500
Q3 24	$692	500
Q4 24	$10.2K	500
Q3 25	$8.7K	500
Q4 25	$9.1K	500
Q2 26	-$12.6K	500

Revenue / Employee