Morgan Stanley Direct Lending Fund Financials

Values in thousands	2025-09-30	2025-06-30	2025-03-31	2024-12-31
Revenue	$64,684	$73,044	$65,439	$84,034
Gross Profit	30,781	38,337	31,260	50,821
EBITDA	28,003	36,296	30,297	52,629
Net Income	27,601	36,096	29,670	51,629
Net Change In Cash	64,684	73,044	65,439	84,034
Free Cash Flow	34,405	40,806	34,104	-96,183
Cash	65,472	75,806	65,580	70,372
Basic Shares	86,844	87,189	88,413	89,264

Values in thousands	2024-12-31	2023-12-31	2022-12-31	2021-12-31
Revenue	$332,522	$328,129	$100,216	$98,621
Gross Profit	209,594	215,246	33,034	77,606
EBITDA	218,001	232,533	48,876	83,335
EBIT		155,255	102,589	86,909
Net Income	215,564	231,014	48,542	83,255
Net Change In Cash	332,522	328,129	100,216	98,621
Free Cash Flow	201,470	185,780	121,594	67,689
Cash	70,372	69,705	81,215	74,153
Basic Shares	89,264	88,278	88,278	88,278