Gladstone Investment Corporation Reports Financial Results for Q3, 2024 –

Gladstone Investment Corporation (NASDAQ: GAIN) recently announced its earnings for the third fiscal quarter ending on December 31, 2024. The company disclosed this information in compliance with a Quarterly Report on Form 10-Q filed with the U.S. Securities and Exchange Commission (SEC). Interested parties can access this report on the SEC’s website or the Investor section of Gladstone Investment Corporation’s website.

Key Highlights of the Financial Results:
– Total investment income for the quarter was $21,371, a decrease from $22,565 in the previous quarter.
– Net investment income stood at $1,161, a decline from $7,291 previously.
– Net realized gain showed no activity this quarter compared to $42,303 in the prior quarter.
– Net asset value per common share rose to $13.30 from $12.49 in the last quarter.
– The company yielded a weighted-average interest rate of 14.0% on its interest-bearing investments.
– The total value of investments at fair value increased to $1,072,230 from $853,307 in the prior quarter.

Quarterly Activities and Achievements:
– The company made significant investments in various portfolio companies during the quarter, including Pyrotek Special Effects, Inc., Gladstone Alternative Income Fund, Nielsen-Kellerman, Inc., and Ricardo Defense, Inc.
– Distribution per common share from net investment income for the quarter was $0.16, a decrease from $0.24 in the previous quarter.
– An amendment to the credit facility was also made, increasing the size from $200.0 million to $250.0 million.

Subsequent Events:
– In January 2025, monthly distributions of $0.08 per common share were declared for the first quarter.
– An amendment to the credit facility was made on February 10, 2025, raising the limit to $250.0 million.

Non-GAAP Financial Measure – Adjusted Net Investment Income:
The company disclosed Adjusted net investment income, a non-GAAP measure that excludes capital gains-based incentive fees. Adjusted net investment income for the quarter was $8,627, or $0.23 per weighted-average common share.

Looking Ahead:
The Company scheduled an earnings release conference call for February 13, 2025, at 8:30 a.m. Eastern Time. Interested individuals can access the call by dialing (866) 424-3437.

Gladstone Investment Corporation operates as a business development company, focusing on making secure debt and equity investments in lower middle-market businesses in the United States. For detailed financial information, including notes, kindly refer to the Company’s Form 10-Q for the quarter ended December 31, 2024.

The forward-looking statements in this press release involve certain risks and uncertainties. Actual results may differ from the expectations expressed. The Company does not undertake to review or confirm analyst expectations or estimates based on this release.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Gladstone Investment’s 8K filing here.

Gladstone Investment Company Profile

Gladstone Investment Corporation is business development company, specializes in lower middle market, mature stage, buyouts; refinancing existing debt; senior debt securities such as senior loans, senior term loans, lines of credit, and senior notes; senior subordinated debt securities such as senior subordinated loans and senior subordinated notes; junior subordinated debt securities such as subordinated notes and mezzanine loans; limited liability company interests, and warrants or options.