Company: GAINI
Filing Date: 2025-05-13
Form Type: 10-K
Source: 0001321741-25-000010
Chunk: 8

Company: GLADSTONE INVESTMENT CORPORATION\DE
Filing Date: 2025-05-13
Form: 10-K
Item: Item 8
Chunk 8
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 of distributions18,606 1,316 Total distributable earnings53,535 47,968 TOTAL NET ASSETS$499,084 $492,711 NET ASSET VALUE PER SHARE $13.55 $13.43 

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

(B)Refer to Note 10 — 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.74

GLADSTONE INVESTMENT CORPORATION

CONSOLIDATED STATEMENTS OF OPERATIONS

(DOLLAR AMOUNTS IN THOUSANDS EXCEPT PER SHARE AMOUNTS)

Year Ended March 31,202520242023INVESTMENT INCOMEInterest income:Non-Control/Non-Affiliate investments$59,762 $56,424 $41,872 Affiliate investments23,605 24,578 18,323 Cash and cash equivalents245 792 81 Total interest income83,612 81,794 60,276 Dividend income:Non-Control/Non-Affiliate investments3,254 — 4,847 Affiliate investments26 1,907 6,018 Total dividend income3,280 1,907 10,865 Success fee income:Non-Control/Non-Affiliate investments5,934 2,285 9,801 Affiliate investments836 1,320 601 Total success fee income6,770 3,605 10,402 Total investment income93,662 87,306 81,543 EXPENSESBase management fee(A)19,105 17,500 14,798 Loan servicing fee(A)9,636 9,118 7,880 Incentive fee(A)12,265 21,047 8,880 Administration fee(A)1,914 1,789 1,811 Interest expense on borrowings28,246 24,121 15,877 Amortization of deferred financing costs and discounts2,852 2,305 1,802 Professional fees1,593 1,382 1,916 Other general and administrative expenses4,701 2,981 3,270 Expenses before credits from Adviser80,