Gladstone Investment Corporation Reports Financial Results for its Second Quarter Ended September 30, 2022

About this update from Gladstone Investment Corporation - Business Development Company

[{"type":"text","content":"MCLEAN, VA / ACCESSWIRE / November 1, 2022 / Gladstone Investment Corporation (Nasdaq:GAIN) (the \"Company\") today announced earnings for its second quarter ended September 30, 2022. 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 or the investors section of the Company's website at www.gladstoneinvestment.com.Summary Information: (dollars in thousands, except per share data (unaudited)): September 30,2022 June 30,2022 $Change %Change For the quarter ended: Total investment income $20,795 $19,297 $1,498 7.8%Total expenses, net(A) 9,379 11,926 (2,547) (21.4)%Net investment income(A) 11,416 7,371 4,045 54.9%Net realized gain 2,302 4,452 (2,150) (48.3)%Net unrealized (depreciation) appreciation (10,643) 212 (10,855) NM Net increase in net assets resulting from operations(A) $3,075 $12,035 $(8,960) (74.4)%Net investment income per weighted-average common share(A) $0.34 $0.22 $0.12 54.5%Adjusted net investment income per weighted-average common share(B) $0.29 $0.25 $0.04 16.0%Net increase in net assets resulting from operations per weighted-average common share(A) $0.09 $0.36 $(0.27) (75.0)%Cash distribution per common share from net investment income $0.14 $0.10 $0.04 40.0%Cash distribution per common share from net realized gains(C) $0.08 $0.25 $(0.17) (68.0)%Weighted-average yield on interest-bearing investments 12.1% 11.9% 0.2% 1.7%Total dollars invested $74,246 $27,800 $46,446 167.1%Total dollars repaid and collected from sales $12,338 $57,352 $(45,014) (78.5)%Weighted-average shares of common stock outstanding - basic and diluted 33,218,901 33,205,023 13,878 NM As of: Total investments, at fair value $737,935 $689,513 $48,422 7.0%Fair value, as a percent of cost 104.9% 107.0% (2.1)% (2.0)%Net assets $442,470 $446,409 $(3,939) (0.9)%Net asset value per common share $13.31 $13.44 $(0.13) (1.0)%Number of portfolio companies 26 26 - -%NM = Not MeaningfulInclusive of $1.7 million, or $0.05 per weighted-average common share, of capital gains-based incentive fees reversed during the three months ended September 30, 2022 and $0.9 million, or $0.03 per weighted-average common share, of capital gains-based incentive fees accrued during the three months ended June 30, 2022, respectively. These fees w...

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