Company: GAINI
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001321741-25-000022
Chunk: 1

Company: GLADSTONE INVESTMENT CORPORATION\DE
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 1
Chunk 1
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)18,606 Total distributable earnings52,249 53,535 TOTAL NET ASSETS$535,843 $499,084 NET ASSET VALUE PER SHARE $13.53 $13.55 

(A)Refer to Note 4 — Related Party Transactions in the accompanying Notes to Consolidated Financial Statements for additional information.

(B)Refer to Note 9 — Commitments and Contingencies in the accompanying Notes to Consolidated Financial Statements for additional information.

THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THESE CONSOLIDATED FINANCIAL STATEMENTS.

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Table of Contents

GLADSTONE INVESTMENT CORPORATION

 CONSOLIDATED STATEMENTS OF OPERATIONS

(DOLLAR AMOUNTS IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)

(UNAUDITED)

Three Months Ended September 30,Six Months Ended September 30,2025202420252024INVESTMENT INCOMEInterest incomeNon-Control/Non-Affiliate investments$16,076 $15,105 $31,339 $29,647 Affiliate investments6,501 5,834 12,688 11,874 Cash and cash equivalents92 57 290 100 Total interest income22,669 20,996 44,317 41,621 Dividend incomeNon-Control/Non-Affiliate investments— 1,419 1,063 1,419 Affiliate investments2,610 — 2,689 — Total dividend income2,610 1,419 3,752 1,419 Success fee incomeNon-Control/Non-Affiliate investments— — 447 1,553 Affiliate investments— 150 307 150 Total success fee income— 150 754 1,703 Total investment income$25,279 $22,565 $48,823 $44,743 EXPENSESBase management fee(A)$5,457 $4,447 $10,537 $9,065 Loan servicing fee(A)2,932 2,194 5,604 4,416 Incentive fee(A)5,207 2,232 4,998 (1,556)Administration fee(A)520 567 953 1,073 Interest expense on borrowings9,631 6,399 18,130 12,879 Amort