Business
Gladstone Capital Corporation Reports Financial Results for its First Quarter Ended December 31, 2024
MCLEAN, VA / ACCESS Newswire / February 11, 2025 / Gladstone Capital Corporation (Nasdaq:GLAD) (the "Company") today announced earnings for its first quarter
About this update from Gladstone Capital Corporation
[{"type":"text","content":"MCLEAN, VA / ACCESS Newswire / February 11, 2025 / Gladstone Capital Corporation (Nasdaq:GLAD) (the \"Company\") today announced earnings for its first quarter ended December 31, 2024. Please read the Company's Quarterly Report on Form 10-Q filed today with the U.S. Securities and Exchange Commission (the \"SEC\"), which is available on the SEC's website at www.sec.gov and the Investors section of the Company's website at www.GladstoneCapital.com.Summary Information (dollars in thousands, except per share data) (unaudited): For the Quarter Ended: December 31,2024 September 30,2024 Change % Change Total investment income $21,960 $23,714 $(1,754) (7.4)%Total expenses, net of credits (10,736) (12,759) 2,023 (15.9)Net investment income 11,224 10,955 269 2.5 Net investment income per common share 0.50 0.50 0.00 0.0 Cash distribution per common share 0.90 0.50 0.40 80.0 Net realized gain (loss) 57,814 214 57,600 NM Net unrealized appreciation (depreciation) (41,892) 20,767 (62,659) (301.7)Net increase (decrease) in net assets resulting from operations 26,975 31,817 (4,842) (15.2)Weighted average yield on interest-bearing investments 13.1% 14.0% (0.9)% (6.4)Total invested $151,616 $28,527 $123,089 431.5 Total repayments and net proceeds 165,343 12,638 152,705 NM As of: December 31,2024 September 30,2024 Change % Change Total investments, at fair value $799,497 $796,260 $3,237 0.4%Fair value, as a percent of cost 98.0% 103.3% (5.3)% (5.1)Net asset value per common share $21.51 $21.18 $0.33 1.6 NM- not meaningfulFirst Fiscal Quarter 2025 Highlights:Portfolio Activity: Invested $107.2 million in six new portfolio companies and $44.5 million in existing portfolio companies.Realized Gains/Distributions: Delivered net realized gains of $57.8 million for the quarter which supported a supplemental cash distribution of $0.40 per common share.Net Asset Value per Share: Increased $0.33 per share on $15.9 million net investment appreciation.Portfolio Mix: Reinvestment of equity gains increased debt investments by $45.2 million over the prior quarter including raising secured first lien assets to 73.4% of debt investments at fair value.First Fiscal Quarter 2025 Results:Total investment income decreased by $1.8 million, or 7.4%, for the quarter ended December 31, 2024, compared to the prior quarter ended September 30, 2024, driven by a $2.1 million ...