Gladstone Capital Corporation Posts First Quarter Financial Results

Gladstone Capital Corporation reported its financial results for the first quarter ending December 31, 2024. The company recorded a total investment income of $21.96 million, a decrease of 7.4% from the previous quarter primarily due to a reduction in interest income. Net investment income reached $11.2 million, or $0.50 per share. Significant realized gains of $57.8 million supported an 80% increase in cash distribution per common share to $0.90.

Total investments valued at fair increased slightly by 0.4% to $799.5 million. The net asset value per share rose by $0.33 to $21.51. In the quarter, portfolio activity included investing $107.2 million in new companies and $44.5 million in existing ones.

The quarter saw reduced expenses by 15.9%, largely attributed to decreased base management fees. The first quarter results reflect adjustments in interest-bearing investments and a focus on maintaining underwriting discipline.