Business
Gladstone Capital Corporation Reports Financial Results for its Third Quarter Ended June 30, 2024
MCLEAN, VA / ACCESSWIRE / August 7, 2024 / Gladstone Capital Corporation (Nasdaq:GLAD) (the "Company") today announced earnings for its third fiscal quarter
About this update from Gladstone Capital Corporation
[{"type":"text","content":"MCLEAN, VA / ACCESSWIRE / August 7, 2024 / Gladstone Capital Corporation (Nasdaq:GLAD) (the \"Company\") today announced earnings for its third fiscal quarter ended June 30, 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: June 30,2024 March 31,2024 Change % Change Total investment income $25,689 $23,997 $1,692 7.1%Total expenses, net of credits (13,296) (13,220) (76) 0.6 Net investment income 12,393 10,777 1,616 15.0 Net investment income per common share(A) 0.57 0.50 0.07 14.0 Cash distribution per common share(A) 0.50 0.50 0.00 0.0 Net realized gain (loss) 3,315 2,168 1,147 52.9 Net unrealized appreciation (depreciation) 3,436 10,695 (7,259) (67.9)Net increase (decrease) in net assets resulting from operations 19,056 23,632 (4,576) (19.4)Weighted average yield on interest-bearing investments 13.9% 14.0% (0.1)% (0.7)Total invested $46,389 $44,735 $1,654 3.7 Total repayments and net proceeds 86,420 15,146 71,274 470.6 As of: June 30,2024 March 31,2024 Change % Change Total investments, at fair value $757,745 $791,588 $(33,843) (4.3)%Fair value, as a percent of cost 100.6% 100.1% 0.5% 0.5 Net asset value per common share(A) $20.18 $19.80 $0.38 1.9 (A) Per common share amounts have been adjusted on a retroactive basis to reflect the 1-for-2 reverse stock split effected on April 4, 2024.Third Fiscal Quarter 2024 Highlights:Portfolio Activity: Invested $27.3 million in two new portfolio companies and $19.1 million in existing portfolio companies.Portfolio Mix: Secured first lien assets continue to be over 70% of our debt investments, at cost, while the weighted average yield on debt investments was consistent at 13.9%.Credit Facility Availability: Increased the committed facility amount by $25.0 million to $268.7 million and ended the quarter with availability in excess of $180 million.Third Fiscal Quarter 2024 Results:Total investment income increased by $1.7 million, or 7.1%, for the quarter ended June 30, 2024, compared to the prior quarter ended March 31, 2024, driven by a $2.2 million increase in other incom...