Gladstone Investment Corporation Releases Q3 2024 Financial Results

Gladstone Investment Corporation reported its financial results for the third quarter ending December 31, 2024. The net investment income decreased notably from $7.3 million in September to $1.2 million in December. This was primarily due to an increase in expenses, including capital gains-based incentive fees, and a dip in investment income.

Net assets rose by 6.9% to $490.1 million, largely driven by $37.3 million in unrealized gains. Net asset value per share increased to $13.30. Despite the decline in net investment income per share, adjusted net investment income showed minor changes.

Significant investments included $71.3 million in Nielsen-Kellerman and $78.7 million in Ricardo Defense. Distributions to shareholders included an $0.08 monthly payout and a $0.70 supplemental distribution in October 2024.

Gladstone also bolstered its liquidity by issuing 7.875% Notes due 2030, raising $126.5 million. The company further expanded its credit facility, enhancing financial flexibility.