NCDLNuveen Churchill Direct Lending Corp.

$660M

Q2 2025 Earnings

Financial Services Asset Management

Income Statement

Revenue

$38M+2.3% YoY

Gross Profit

$19M49.4% margin

Operating Income

$16M41.7% margin

Net Income

$16M41.9% margin

EPS (Diluted)

$0.32

QoQ Revenue Growth

-28.7%

Cash Flow

Operating Cash Flow

$56M

Free Cash Flow

$56M

Stock-Based Comp.

$0

Balance Sheet

Total Assets

$2.1B

Total Liabilities

$1.2B

Stockholders' Equity

$888M

Cash & Equivalents

$44M

Year-over-Year Comparison

Metric	Current	Year Ago	Change
Revenue	$38M	$37M	+2.3%
Gross Profit	$19M	$20M	-3.9%
Operating Income	$16M	$20M	-20.1%
Net Income	$16M	$20M	-20.7%

NCDL Q2 2025 Earnings — Nuveen Churchill Direct Lending Corp. Revenue & Financial Results | Market Cap Arena