CĪON Investment Corporation Reports Net Loss of $31.0 Million for the First Quarter of 2023

CĪON Investment Corporation, Inc.(CION) a leading investment firm, released its consolidated financial statements for the first quarter of 2023. The company reported a net loss of $31.0 million during the quarter. Despite the loss, the company generated significant revenue, totaling $64.9 million for the same period. Let's take a closer look at the details of CĪON Investment Corporation's financial performance.

Investments and Assets

CĪON Investment Corporation's consolidated balance sheets reveal that the company's total investments at fair value stood at $1.7 billion as of March 31, 2023, compared to $1.8 billion at the end of December 2022. The investments include non-controlled, non-affiliated investments worth $1.48 billion, non-controlled, affiliated investments amounting to $162.8 million, and controlled investments totaling $80.6 million.

The company's total assets amounted to $1.85 billion, slightly lower than the $1.87 billion reported at the end of 2022. Besides investments, other significant assets include cash reserves of $96.0 million, interest receivable on investments of $27.3 million, and prepaid expenses and other assets worth $4.6 million.