Trinity Capital Inc.

Good morning, ladies and gentlemen. My name is Jim, and I will be your conference operator today. At this time, I would like to welcome everyone to Trinity Capital's third quarter 2024 earnings conference call. All participants have been placed in a listen-only mode, and the floor will be open for your questions following the presentation. All participants have been placed in a listen-only mode, or pardon me, I just already said that. As I stated, the call will be open for your questions after the prepared remarks. It is now my pleasure to turn the call over to Ben Malcolmson Head of Investor Relations for Trinity Capital. Please go ahead.

Thank you and welcome to Trinity Capital's earnings conference call for the third quarter of 2024. Today we are joined by Kyle Brown, Chief Executive Officer, Michael Testa, Chief Financial Officer, and Jerry Harder, Chief Operating Officer. Also joining us for the Q&A portion of the call are Ron Kundich, Chief Credit Officer, and Sarah Stanley, Chief Compliance Officer and General Counsel. Trinity's financial results were released earlier today and can be accessed on our investor relations website at ir.trinitycap.com. Before we begin, I would like to remind everyone that certain statements made during this call may be deemed forward-looking statements under federal securities laws. Because these forward-looking statements involve known and unknown risks and uncertainties, We encourage you to refer to our most recent SEC filings for information on some of these risk factors. Trinity Capital assumes no obligation or responsibility to update any forward-looking statements. Now, allow me to turn the call over to Trinity Capital's CEO, Kyle Brown. Thank you, Ben.

Thanks, everyone, for joining us today. In the third quarter, our strategies performed strongly, helping us deliver record results. Top highlights from Q3 include record net investment income of $29 million, a 26% increase versus Q3 of last year. Net asset value grew to $757 million, up 11% from $680 million last quarter. Platform AUM reached a record $2 billion. In Q3, we made a record... $459 million in investments, gross fundings, which was largely driven by $406 million of secured loans, and included debt investments to 11 new portfolio companies. Trinity paid a cash dividend of 51 cents per share, representing our 19th consecutive quarter of a consistent or increased dividend. We're proud of our performance in Q3, as our five distinct business verticals continue to fuel our growth and take market share. As a reminder, our verticals are tech lending, equipment finance, life science, warehouse financing and sponsor finance, which focuses on private equity-backed businesses. Each of our business verticals has its own experienced team to lead originations, credit, and portfolio management functions, giving them the ability to scale efficiently. Our strategic growth initiatives have generated extraordinary momentum, highlighting our commitment to expanding the platform. Trinity Capital is first an alternative asset management company, as well as a direct lender. We continue to see efficiencies of scaling our balance sheet at the public company level, and we're now hyper-focused on building out our asset management business to invest in our various business verticals. We're different than externally managed BDCs in that when you buy our stock, you're buying into a pool of diversified assets, yes, but you're also buying into a management company. We are not like externally managed BDCs that are simply a pool of assets. It's also important to note that because we're an internally managed BDC, our employees, management, and board all own the same shares as our investors. This maintains 100% alignment with our shareholders and a focus on delivering growing returns for our investors. Earlier this year, we expanded into Europe, giving us increased global exposure and better access to an active tech landscape, which in turn allows us to support high-growth companies across multiple continents. We intend to replicate the success that we've had here in the U.S. with our complementary lending businesses in Europe and beyond. Regarding deployment, we maintain a strong investment pipeline, including $606 million in in unfunded commitments, leaving us well-positioned for our continued growth. As a reminder, a vast majority of Trinity's unfunded commitments are subject to ongoing diligence and approval by our investment committee. Credit and underwriting, portfolio management are all fundamental to our success over the long term. We have a unique structure characterized by collaboration between originations, credit, and portfolio teams to manage our inbound opportunities and active portfolio companies. We remain very selective and adhere to a rigorous diligence process. Only a small percentage of inbound deals reach the underwriting stage. This proactive approach greatly mitigates risk and positions us to excel in all macroeconomic cycles. At Trinity, we pride ourselves on three core principles, exhibiting uncommon care for our employees, customers, and stakeholders. Two, serving our clients by being partners rather than just money. And three, by providing outsized returns for our shareholders. Investing in our teams and systems is key to our growth, and enabling us to further diversify our investments to create a best-in-class direct lending platform. We are excited about the future and look forward to continuing to capitalize on our momentum as we continue to maximize value for our shareholders. And with that, I'll turn the call over to Michael Testa, our CFO, to discuss financial results in more detail. Michael?