Company: GAINI
Filing Date: 2025-02-12
Form Type: 10-Q
Source: 0001321741-25-000005
Chunk: 117

Company: GLADSTONE INVESTMENT CORPORATION\DE
Filing Date: 2025-02-12
Form: 10-Q
Item: Part I, Item 2
Chunk 117
---
REALIZED AND UNREALIZED GAIN (LOSS)Net realized gain— 43,461 (43,461)(100.0)%Net unrealized appreciation (depreciation)37,329 (46,626)83,955 NMNet realized and unrealized gain (loss)37,329 (3,165)40,494 NMNET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS$38,490 $6,579 $31,911 485.0 %WEIGHTED-AVERAGE SHARES OF COMMON STOCK OUTSTANDINGBasic and diluted36,727,873 34,351,597 2,376,276 6.9 %BASIC AND DILUTED PER COMMON SHARE:Net investment income$0.03 $0.28 $(0.25)(89.3)%Net increase in net assets resulting from operations$1.05 $0.19 $0.86 452.6 %

NM - Not meaningful

49

Investment Income

Total investment income decreased $1.7 million, or 7.4%, for the three months ended December 31, 2024, as compared to the prior year period, primarily due to a decrease in interest income, and dividend and success fee income.

Interest income from our investments in debt securities decreased $1.2 million, or 5.4%, for the three months ended December 31, 2024, as compared to the prior year period. 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 portfolio during the three months ended December 31, 2024 was $579.7 million, compared to $594.3 million for the prior year period. This decrease was primarily due to $61.5 million of pay-offs, restructurings, or write-offs of debt investments and $30.8 million of loans placed on non-accrual status after September 30, 2023, partially offset by $68.0 million of follow-on debt investments in existing portfolio companies and the origination of $20.5 million of new debt investments after September 30, 2023, and their respective impact on the weighted-average principal balance when considering timing of new investments, pay-offs, restructurings, write-offs, and