from Gladstone Investment Corporation (NASDAQ:GAIN)
Gladstone Investment Corporation Reports Financial Results for its Fourth Quarter and Fiscal Year Ended March 31, 2025
MCLEAN, VA / ACCESS Newswire / May 13, 2025 / Gladstone Investment Corporation (Nasdaq:GAIN) (the "Company") today announced earnings for its fourth quarter and fiscal year ended March 31, 2025. Please read the Company's Annual Report on Form 10-K, filed today with the U.S. Securities and Exchange Commission (the "SEC"), which is available on the SEC's website at www.sec.gov or the investors section of the Company's website at www.gladstoneinvestment.com.
Summary Information: (dollars in thousands, except per share data (unaudited)):
March 31, | December 31, | $ Change | % Change | |||||||||||||
For the quarter ended: | ||||||||||||||||
Total investment income | $ | 27,548 | $ | 21,371 | $ | 6,177 | 28.9 | % | ||||||||
Total expenses, net(A) | 20,319 | 20,210 | 109 | 0.5 | % | |||||||||||
Net investment income(A) | 7,229 | 1,161 | 6,068 | NM | ||||||||||||
Net realized gain | 20,879 | - | 20,879 | NM | ||||||||||||
Net unrealized (depreciation) appreciation | (10,235 | ) | 37,329 | (47,564 | ) | NM | ||||||||||
Net increase in net assets resulting from operations(A) | $ | 17,873 | $ | 38,490 | $ | (20,617 | ) | (53.6 | )% | |||||||
Net investment income per weighted-average common share(A) | $ | 0.20 | $ | 0.03 | $ | 0.17 | NM | |||||||||
Adjusted net investment income per weighted-average common share(B) | $ | 0.26 | $ | 0.23 | $ | 0.03 | 13.0 | % | ||||||||
Net increase in net assets resulting from operations per weighted-average common share(A) | $ | 0.49 | $ | 1.05 | $ | (0.56 | ) | (53.3 | )% | |||||||
Cash distribution per common share from net investment income | $ | - | $ | 0.16 | $ | (0.16 | ) | (100.0 | )% | |||||||
Cash distribution per common share from cumulative net realized gains(C) | $ | 0.24 | $ | 0.08 | $ | 0.16 | 200.0 | % | ||||||||
Weighted-average yield on interest-bearing investments | 13.2 | % | 14.0 | % | (0.8 | )% | (5.7 | )% | ||||||||
Total dollars invested | $ | 14,024 | $ | 187,094 | $ | (173,070 | ) | (92.5 | )% | |||||||
Total dollars repaid and/or collected from sales and recapitalization of investments | $ | 117,579 | $ | 5,500 | $ | 112,079 | NM | |||||||||
Weighted-average shares of common stock outstanding - basic and diluted | 36,837,381 | 36,727,873 | 109,508 | 0.3 | % | |||||||||||
Total shares of common stock outstanding | 36,837,381 | 36,837,381 | - | - | % | |||||||||||
As of: | ||||||||||||||||
Total investments, at fair value | $ | 979,320 | $ | 1,072,230 | $ | (92,910 | ) | (8.7 | )% | |||||||
Fair value, as a percent of cost | 104.3 | % | 104.9 | % | (0.6 | )% | (0.6 | )% | ||||||||
Net assets | $ | 499,084 | $ | 490,053 | $ | 9,031 | 1.8 | % | ||||||||
Net asset value per common share | $ | 13.55 | $ | 13.30 | $ | 0.25 | 1.9 | % | ||||||||
Number of portfolio companies | 25 | 26 | (1 | ) | (3.8 | )% | ||||||||||
March 31, | March 31, | $ Change | % Change | |||||||||||||
For the year ended: | ||||||||||||||||
Total investment income | $ | 93,662 | $ | 87,306 | $ | 6,356 | 7.3 | % | ||||||||
Total expenses, net(A) | 65,567 | 65,529 | 38 | 0.1 | % | |||||||||||
Net investment income(A) | 28,095 | 21,777 | 6,318 | 29.0 | % | |||||||||||
Net realized gain | 63,184 | 30,256 | 32,928 | 108.8 | % | |||||||||||
Net unrealized (depreciation) appreciation | (25,960 | ) | 33,272 | (59,232 | ) | NM | ||||||||||
Net increase in net assets resulting from operations(A) | $ | 65,319 | $ | 85,305 | $ | (19,986 | ) | (23.4 | )% | |||||||
Net investment income per weighted-average common share(A) | $ | 0.76 | $ | 0.63 | $ | 0.13 | 20.6 | % | ||||||||
Adjusted net investment income per weighted-average common share(B) | $ | 0.97 | $ | 1.00 | $ | (0.03 | ) | (3.0 | )% | |||||||
Net increase in net assets resulting from operations per weighted-average common share(A) | $ | 1.78 | $ | 2.47 | $ | (0.69 | ) | (27.9 | )% | |||||||
Cash distribution per common share from net investment income | $ | 0.64 | $ | 1.08 | $ | (0.44 | ) | (40.7 | )% | |||||||
Cash distribution per common share from cumulative net realized gains(C) | $ | 1.02 | $ | 1.12 | $ | (0.10 | ) | (8.9 | )% | |||||||
Weighted-average yield on interest-bearing investments | 13.9 | % | 14.4 | % | (0.5 | )% | (3.5 | )% | ||||||||
Total dollars invested | $ | 221,217 | $ | 183,924 | $ | 37,293 | 20.3 | % | ||||||||
Total dollars repaid and/or collected from sales and recapitalization of investments | $ | 199,625 | $ | 80,228 | $ | 119,397 | 148.8 | % </ | ||||||||