Company: GAINI
Filing Date: 2025-05-13
Form Type: 10-K
Source: 0001321741-25-000010
Chunk: 189

Company: GLADSTONE INVESTMENT CORPORATION\DE
Filing Date: 2025-05-13
Form: 10-K
Item: Item 7
Chunk 189
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7 %Other6,294 4,363 1,931 44.3 %Expenses before credits from Adviser80,312 80,243 69 0.1 %Credits to fees from Adviser(14,745)(14,714)(31)0.2 %Total expenses, net of credits to fees65,567 65,529 38 0.1 %NET INVESTMENT INCOME28,095 21,777 6,318 29.0 %REALIZED AND UNREALIZED GAIN (LOSS), NET OF TAXESNet realized gain on investments63,184 30,256 32,928 108.8 %Net unrealized (depreciation) appreciation of investments(25,960)33,301 (59,261)NMNet unrealized appreciation of other— (29)29 (100.0)%Net realized and unrealized gain, net of taxes on deemed distribution of long-term capital gains37,224 63,528 (26,304)(41.4)%NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS$65,319 $85,305 $(19,986)(23.4)%WEIGHTED-AVERAGE SHARES OF COMMON STOCK OUTSTANDINGBasic and diluted36,735,218 34,466,724 2,268,494 6.6 %BASIC AND DILUTED PER COMMON SHARE:Net investment income$0.76 $0.63 $0.13 20.6 %Net increase in net assets resulting from operations$1.78 $2.47 $(0.69)(27.9)%

NM = Not Meaningful

55

Investment Income

Total investment income increased $6.4 million, or 7.3%, for the year ended March 31, 2025, as compared to the prior year. This increase was primarily due to an increase in dividend and success fee income and an increase in interest income.

Interest income from our investments in debt securities increased $1.8 million, or 2.2%, for the year ended March 31, 2025, as compared to the prior year. Generally, the level of interest income from investments is directly related to the weighted-average principal balance of our interest-bearing investment portfolio outstanding during the period, multiplied by the weighted-average yield. 

The weighted-average principal balance of our interest-bearing investment