Company: GAINI
Filing Date: 2025-02-12
Form Type: 10-Q
Source: 0001321741-25-000005
Chunk: 85

Company: GLADSTONE INVESTMENT CORPORATION\DE
Filing Date: 2025-02-12
Form: 10-Q
Item: Part I, Item 1
Chunk 85
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 from Adviser(10,968)(11,946)978 (8.2)%Total expenses, net of credits to fees45,248 47,204 (1,956)(4.1)%NET INVESTMENT INCOME20,866 16,454 4,412 26.8 %REALIZED AND UNREALIZED GAIN (LOSS)Net realized gain42,305 44,905 (2,600)(5.8)%Net unrealized (depreciation) appreciation(15,725)1,362 (17,087)NMNet realized and unrealized gain (loss)26,580 46,267 (19,687)(42.6)%NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS$47,446 $62,721 $(15,275)(24.4)%WEIGHTED-AVERAGE SHARES OF COMMON STOCK OUTSTANDINGBasic and diluted36,701,783 33,921,300 2,780,483 8.2 %BASIC AND DILUTED PER COMMON SHARE:Net investment income$0.57 $0.49 $0.08 16.3 %Net increase in net assets resulting from operations$1.29 $1.85 $(0.56)(30.3)%

NM = Not Meaningful

54

Investment Income

Total investment income increased $2.5 million, or 3.9%, for the nine months ended December 31, 2024, as compared to the prior year period, primarily due to an increase in interest income, and dividend and success fee income.

Interest income from our investments in debt securities increased $1.8 million, or 2.9%, for the nine 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 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 nine months ended December 31, 2024 was $576.1 million, compared to $544.6 million for the prior year period. This increase was primarily due to $116.4 million of follow-on debt investments in existing portfolio companies, the origination of $67.3 million of new debt investments, partially offset by $61.5 million of pay-offs, restruct