Company: GAINI
Filing Date: 2025-02-12
Form Type: 10-Q
Source: 0001321741-25-000005
Chunk: 78

Company: GLADSTONE INVESTMENT CORPORATION\DE
Filing Date: 2025-02-12
Form: 10-Q
Item: Part I, Item 1
Chunk 78
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 collateral tests for a credit facility of its size and nature.

48

RESULTS OF OPERATIONS

Comparison of the Three Months Ended December 31, 2024 to the Three Months Ended December 31, 2023

For the Three Months Ended December 31,20242023$ Change% ChangeINVESTMENT INCOMEInterest income$20,528 $21,699 $(1,171)(5.4)%Dividend and success fee income843 1,382 (539)(39.0)%Total investment income21,371 23,081 (1,710)(7.4)%EXPENSESBase management fee4,872 4,602 270 5.9 %Loan servicing fee2,405 2,332 73 3.1 %Incentive fee9,353 1,667 7,686 461.1 %Administration fee405 450 (45)(10.0)%Interest expense6,385 6,520 (135)(2.1)%Amortization of deferred financing costs and discounts691 589 102 17.3 %Other1,355 1,302 53 4.1 %Expenses before credits from Adviser25,466 17,462 8,004 45.8 %Credits to fees from Adviser(5,256)(4,125)(1,131)27.4 %Total expenses, net of credits to fees20,210 13,337 6,873 51.5 %NET INVESTMENT INCOME1,161 9,744 (8,583)(88.1)%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 $