Gladstone Investment Key Executives
This section highlights Gladstone Investment's key executives, including their titles and compensation details.
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Gladstone Investment Earnings
This section highlights Gladstone Investment's earnings, including key dates, EPS, earnings reports, and earnings call transcripts.
Next Earnings Date
Last Earnings Results
Earnings Call Transcripts
| Transcript | Quarter | Year | Date | Estimated EPS | Actual EPS |
|---|---|---|---|---|---|
| Read Transcript | Q2 | 2025 | 2024-11-08 | $0.25 | $0.24 |
| Read Transcript | Q1 | 2025 | 2024-08-06 | N/A | N/A |
| Read Transcript | Q4 | 2024 | 2024-05-09 | N/A | N/A |
| Read Transcript | Q3 | 2024 | 2024-02-07 | N/A | N/A |
| Read Transcript | Q2 | 2024 | 2023-11-02 | N/A | N/A |
| Read Transcript | Q1 | 2024 | 2023-08-03 | N/A | N/A |
| Read Transcript | Q4 | 2023 | 2023-05-11 | N/A | N/A |
| Read Transcript | Q3 | 2023 | 2023-02-02 | N/A | N/A |
| Read Transcript | Q2 | 2023 | 2022-11-02 | N/A | N/A |
| Read Transcript | Q1 | 2023 | 2022-08-04 | N/A | N/A |
Gladstone Investment Corporation is business development company, specializes in lower middle market, mature stage, buyouts; refinancing existing debt; senior debt securities such as senior loans, senior term loans, lines of credit, and senior notes; senior subordinated debt securities such as senior subordinated loans and senior subordinated notes; junior subordinated debt securities such as subordinated notes and mezzanine loans; limited liability company interests, and warrants or options. The fund does not invest in start-ups. The fund seeks to invest in manufacturing, consumer products and business/consumer services sector. It seeks to invest in small and mid-sized companies based in the United States. The fund prefers to make debt investments between $5 million and $30 million and equity investments between $10 million and $40 million in companies. The fund seeks to invest in companies with revenue between $20 million and $100 million. The fund invests in companies with EBITDA from $3 million to $20 million. It seeks minority equity ownership and prefers to hold a board seat in its portfolio companies. It also prefers to take majority stake in its portfolio companies. The fund typically holds the investments for seven years and exits via sale or recapitalization, initial public offering, or sale to third party.
$13.60
Stock Price
$500.99M
Market Cap
70
Employees
McLean, VA
Location
Financial Statements
Access annual & quarterly financial statements for Gladstone Investment, including income statements, balance sheets, and cash flow statements..
Annual Income Statement
| Breakdown | March 31, 2024 | March 31, 2023 | March 31, 2022 | March 31, 2021 | March 31, 2020 |
|---|---|---|---|---|---|
| Revenue | $79.05M | $32.66M | $99.15M | $48.73M | $8.01M |
| Cost of Revenue | $-3.77M | $21.68M | $35.78M | $19.56M | $6.80M |
| Gross Profit | $82.82M | $10.98M | $63.37M | $29.16M | $1.20M |
| Gross Profit Ratio | 104.77% | 33.60% | 63.91% | 59.90% | 15.00% |
| Research and Development Expenses | $- | $0 | $1 | $1 | $0 |
| General and Administrative Expenses | $6.15M | $7.00M | $3.24M | $3.55M | $6.42M |
| Selling and Marketing Expenses | $- | $- | $- | $- | $- |
| Selling General and Administrative Expenses | $6.15M | $7.00M | $3.24M | $3.55M | $6.42M |
| Other Expenses | $- | $-9.89M | $-9.57M | $393.00K | $8.82M |
| Operating Expenses | $24.43M | $-2.89M | $-6.33M | $3.95M | $15.24M |
| Cost and Expenses | $24.43M | $7.00M | $-6.33M | $3.95M | $15.24M |
| Interest Income | $81.79M | $60.28M | $59.65M | $47.16M | $49.55M |
| Interest Expense | $24.12M | $15.88M | $13.08M | $4.44M | $3.96M |
| Depreciation and Amortization | $- | $39.07M | $-34.51M | $9.90M | $89.89M |
| EBITDA | $- | $51.42M | $80.89M | $44.78M | $3.03M |
| EBITDA Ratio | 0.00% | 157.48% | 119.57% | 91.90% | 37.80% |
| Operating Income | $48.20M | $51.42M | $118.56M | $44.78M | $3.03M |
| Operating Income Ratio | 60.98% | 157.48% | 119.57% | 91.90% | 37.80% |
| Total Other Income Expenses Net | $37.10M | $31.57M | $70.14M | $-772.00K | $-10.26M |
| Income Before Tax | $85.31M | $35.55M | $105.48M | $44.78M | $-7.23M |
| Income Before Tax Ratio | 107.92% | 108.86% | 106.38% | 91.90% | -90.36% |
| Income Tax Expense | $- | $54.68M | $3.16M | $2.33M | $10.26M |
| Net Income | $85.31M | $35.55M | $102.32M | $42.45M | $-17.49M |
| Net Income Ratio | 107.92% | 108.86% | 103.19% | 87.12% | -218.51% |
| EPS | $2.47 | $1.07 | $3.08 | $1.28 | $-0.53 |
| EPS Diluted | $2.47 | $1.07 | $3.08 | $1.28 | $-0.53 |
| Weighted Average Shares Outstanding | 34.47M | 33.31M | 33.21M | 33.18M | 32.87M |
| Weighted Average Shares Outstanding Diluted | 34.47M | 33.31M | 33.21M | 33.18M | 32.87M |
| SEC Filing | Source | Source | Source | Source | Source |
| Breakdown | December 31, 2024 | September 30, 2024 | June 30, 2024 | March 31, 2024 | December 31, 2023 | September 30, 2023 | June 30, 2023 | March 31, 2023 | December 31, 2022 | September 30, 2022 | June 30, 2022 | March 31, 2022 | December 31, 2021 | September 30, 2021 | June 30, 2021 | March 31, 2021 | December 31, 2020 | September 30, 2020 | June 30, 2020 | March 31, 2020 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $20.53M | $21.00M | $22.18M | $9.00M | $66.54M | $20.57M | $21.45M | $20.01M | $25.44M | $2.30M | $11.85M | $15.93M | $6.79M | $28.70M | $47.73M | $22.39M | $16.64M | $7.86M | $1.84M | $11.98M |
| Cost of Revenue | $- | $- | $709.00K | $10.28M | $13.34M | $14.17M | $5.37M | $4.77M | $7.39M | $- | $-7.45M | $7.53M | $2.97M | $10.57M | $14.72M | $8.52M | $- | $- | $- | $38.99M |
| Gross Profit | $20.53M | $21.00M | $21.47M | $-1.28M | $53.20M | $6.40M | $16.08M | $15.24M | $18.05M | $2.30M | $19.30M | $8.40M | $3.81M | $18.14M | $33.02M | $13.86M | $16.64M | $7.86M | $1.84M | $-27.01M |
| Gross Profit Ratio | 100.00% | 100.00% | 96.80% | -14.20% | 80.00% | 31.10% | 75.00% | 76.20% | 71.00% | 100.00% | 162.90% | 52.80% | 56.20% | 63.20% | 69.20% | 61.90% | 100.00% | 100.00% | 100.00% | -225.44% |
| Research and Development Expenses | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| General and Administrative Expenses | $1.76M | $2.24M | $2.45M | $1.41M | $1.75M | $1.50M | $1.49M | $1.29M | $1.52M | $2.32M | $1.87M | $737.00K | $881.00K | $914.00K | $705.00K | $1.19M | $704.00K | $644.00K | $1.02M | $3.96M |
| Selling and Marketing Expenses | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Selling General and Administrative Expenses | $1.76M | $2.24M | $2.45M | $1.41M | $1.75M | $1.50M | $1.49M | $1.29M | $1.52M | $2.32M | $1.87M | $737.00K | $881.00K | $914.00K | $705.00K | $1.19M | $704.00K | $644.00K | $1.02M | $3.96M |
| Other Expenses | $- | $- | $-2.22M | $30.98M | $-47.93M | $47.63M | $-1.78M | $-2.35M | $-2.38M | $- | $- | $-1.93M | $-5.00M | $-1.47M | $-1.16M | $387.00K | $167.00K | $-193.00K | $32.00K | $- |
| Operating Expenses | $1.76M | $2.24M | $232.00K | $-30.98M | $1.75M | $-2.30M | $-1.41M | $-1.07M | $-863.00K | $-775.00K | $-188.00K | $-1.20M | $-4.12M | $-556.00K | $-454.00K | $1.58M | $871.00K | $451.00K | $1.05M | $13.18M |
| Cost and Expenses | $1.76M | $2.24M | $21.59M | $-20.70M | $1.75M | $1.50M | $1.49M | $8.82M | $1.52M | $-775.00K | $3.03M | $-1.20M | $-3.56M | $-556.00K | $-454.00K | $1.58M | $871.00K | $451.00K | $1.05M | $13.18M |
| Interest Income | $20.53M | $21.00M | $20.62M | $21.43M | $21.70M | $20.28M | $18.39M | $17.23M | $16.07M | $14.24M | $12.74M | $16.02M | $13.34M | $14.30M | $15.99M | $12.65M | $12.15M | $11.84M | $10.53M | $11.41M |
| Interest Expense | $6.38M | $6.40M | $6.48M | $6.52M | $6.52M | $6.10M | $4.97M | $4.16M | $4.07M | $3.86M | $3.78M | $3.78M | $3.92M | $3.08M | $2.30M | $1.38M | $1.09M | $1.05M | $917.00K | $728.00K |
| Depreciation and Amortization | $- | $- | $-19.52M | $-12.44M | $-14.67M | $-4.95M | $-13.96M | $-14.26M | $-13.10M | $- | $-11.60M | $-10.96M | $-12.76M | $-6.50M | $-1.96M | $-7.10M | $-10.09M | $-8.05M | $-7.57M | $-7.70M |
| EBITDA | $- | $- | $585.00K | $- | $-3.17M | $62.34M | $- | $-13.28M | $7.21M | $7.38M | $- | $- | $- | $25.97M | $49.44M | $- | $9.02M | $-1.42M | $-7.53M | $-33.76M |
| EBITDA Ratio | 0.00% | 0.00% | 2.64% | 330.08% | 7.93% | 91.32% | 78.78% | -220.88% | 77.43% | 133.70% | 3.65% | 131.24% | -599.06% | 108.75% | 103.57% | 97.78% | 98.35% | 97.79% | 51.82% | -307.74% |
| Operating Income | $18.77M | $18.76M | $585.00K | $29.70M | $19.95M | $18.78M | $16.90M | $-26.73M | $12.64M | $3.08M | $11.60M | $20.90M | $14.26M | $31.22M | $49.44M | $21.89M | $16.36M | $7.68M | $956.00K | $-36.87M |
| Operating Income Ratio | 91.43% | 89.35% | 2.64% | 330.08% | 29.98% | 91.32% | 78.78% | -133.55% | 49.70% | 133.70% | 97.94% | 131.24% | 210.20% | 108.75% | 103.57% | 97.78% | 98.35% | 97.79% | 51.82% | -307.74% |
| Total Other Income Expenses Net | $19.72M | $-3.28M | $-8.37M | $10.14M | $-10.27M | $28.58M | $-5.17M | $-1.76M | $2.68M | $-4.31M | $432.00K | $5.74M | $-2.42M | $20.38M | $43.22M | $13.41M | $5.18M | $-1.42M | $-7.53M | $-4.00M |
| Income Before Tax | $38.49M | $15.48M | $-6.53M | $22.58M | $6.58M | $47.36M | $8.79M | $4.66M | $15.78M | $3.08M | $12.04M | $17.12M | $10.91M | $29.26M | $48.19M | $20.81M | $15.77M | $7.41M | $796.00K | $-40.19M |
| Income Before Tax Ratio | 187.50% | 73.74% | -29.42% | 250.96% | 9.89% | 230.26% | 40.95% | 23.28% | 62.03% | 133.70% | 101.59% | 107.52% | 160.74% | 101.94% | 100.95% | 92.96% | 94.76% | 94.26% | 43.14% | -335.41% |
| Income Tax Expense | $- | $- | $19.52M | $12.44M | $6.26M | $4.95M | $13.96M | $-11.71M | $4.07M | $- | $432.00K | $-3.92M | $3.92M | $6.50M | $1.96M | $7.10M | $10.09M | $8.05M | $7.57M | $7.70M |
| Net Income | $38.49M | $15.48M | $-6.53M | $22.58M | $6.58M | $47.36M | $8.79M | $16.37M | $11.71M | $3.08M | $12.04M | $17.12M | $10.91M | $29.26M | $48.19M | $20.81M | $15.77M | $7.41M | $796.00K | $-40.19M |
| Net Income Ratio | 187.50% | 73.74% | -29.42% | 250.96% | 9.89% | 230.26% | 40.95% | 81.82% | 46.01% | 133.70% | 101.59% | 107.52% | 160.74% | 101.94% | 100.95% | 92.96% | 94.76% | 94.26% | 43.14% | -335.41% |
| EPS | $1.05 | $0.42 | $-0.18 | $0.63 | $0.19 | $1.40 | $0.26 | $0.49 | $0.35 | $0.09 | $0.36 | $0.52 | $0.31 | $0.85 | $1.42 | $0.62 | $0.46 | $0.20 | $0.00 | $-1.23 |
| EPS Diluted | $1.05 | $0.42 | $-0.18 | $0.63 | $0.19 | $1.40 | $0.26 | $0.49 | $0.35 | $0.09 | $0.36 | $0.52 | $0.31 | $0.85 | $1.42 | $0.62 | $0.46 | $0.20 | $0.00 | $-1.22 |
| Weighted Average Shares Outstanding | 36.73M | 36.69M | 36.69M | 36.11M | 34.35M | 33.82M | 33.59M | 33.51M | 33.32M | 33.22M | 33.21M | 33.21M | 33.21M | 33.21M | 33.21M | 33.20M | 33.21M | 33.21M | 33.09M | 32.70M |
| Weighted Average Shares Outstanding Diluted | 36.73M | 36.69M | 36.69M | 36.11M | 34.35M | 33.82M | 33.59M | 33.51M | 33.32M | 33.22M | 33.21M | 33.21M | 33.21M | 33.21M | 33.21M | 33.21M | 33.21M | 33.21M | 33.09M | 32.82M |
| SEC Filing | Source | Source | Source | Source | Source | Source | Source | Source | Source | Source | Source | Source | Source | Source | Source | Source | Source | Source | Source | Source |
Annual Balance Sheet
| Breakdown | March 31, 2024 | March 31, 2023 | March 31, 2022 | March 31, 2021 | March 31, 2020 |
|---|---|---|---|---|---|
| Cash and Cash Equivalents | $3.22M | $2.68M | $14.19M | $2.06M | $2.78M |
| Short Term Investments | $- | $- | $- | $- | $- |
| Cash and Short Term Investments | $3.22M | $2.68M | $14.19M | $2.06M | $2.78M |
| Net Receivables | $11.05M | $6.94M | $9.45M | $4.53M | $4.20M |
| Inventory | $- | $6.29M | $23.94M | $2 | $8.76M |
| Other Current Assets | $- | $- | $- | $- | $- |
| Total Current Assets | $14.27M | $5.72M | $23.64M | $6.59M | $6.98M |
| Property Plant Equipment Net | $- | $- | $- | $- | $- |
| Goodwill | $- | $- | $- | $- | $- |
| Intangible Assets | $- | $- | $- | $- | $- |
| Goodwill and Intangible Assets | $- | $- | $- | $- | $- |
| Long Term Investments | $920.50M | $753.54M | $714.40M | $633.83M | $565.92M |
| Tax Assets | $- | $765.64M | $740.41M | $643.73M | $576.38M |
| Other Non-Current Assets | $-920.50M | $-765.64M | $-740.41M | $-643.73M | $-576.38M |
| Total Non-Current Assets | $923.01M | $753.54M | $714.40M | $633.83M | $565.92M |
| Other Assets | $800.00K | $6.38M | $2.38M | $3.31M | $3.48M |
| Total Assets | $938.08M | $765.64M | $740.41M | $643.73M | $576.38M |
| Account Payables | $4.20M | $3.10M | $2.99M | $1.15M | $1.22M |
| Short Term Debt | $- | $- | $- | $- | $- |
| Tax Payables | $- | $- | $- | $- | $- |
| Deferred Revenue | $- | $- | $-253.26M | $-122.73M | $-3.87M |
| Other Current Liabilities | $42.07M | $29.63M | $-2.99M | $-1.15M | $-1.22M |
| Total Current Liabilities | $46.27M | $257.44M | $2.99M | $1.15M | $1.22M |
| Long Term Debt | $398.35M | $292.61M | $261.35M | $- | $- |
| Deferred Revenue Non-Current | $- | $325.90M | $294.58M | $261.37M | $207.35M |
| Deferred Tax Liabilities Non-Current | $- | $-325.90M | $-270.64M | $-109.99M | $-153.05M |
| Other Non-Current Liabilities | $- | $-224.14M | $-261.35M | $- | $- |
| Total Non-Current Liabilities | $398.35M | $68.47M | $261.35M | $151.38M | $54.30M |
| Other Liabilities | $759.00K | $- | $30.25M | $108.83M | $151.83M |
| Total Liabilities | $445.37M | $325.90M | $294.58M | $261.37M | $207.35M |
| Preferred Stock | $- | $4.97M | $2.70M | $92.21M | $129.16M |
| Common Stock | $37.00K | $34.00K | $33.00K | $33.00K | $33.00K |
| Retained Earnings | $-19.56M | $-5.53M | $-12.99M | $2.59M | $6.37M |
| Accumulated Other Comprehensive Income Loss | $- | $32.94M | $45.15M | $-92.21M | $-129.16M |
| Other Total Stockholders Equity | $512.24M | $401.80M | $397.95M | $308.59M | $271.86M |
| Total Stockholders Equity | $492.71M | $439.74M | $445.83M | $382.36M | $369.03M |
| Total Equity | $492.71M | $729.10M | $692.68M | $623.55M | $548.43M |
| Total Liabilities and Stockholders Equity | $938.08M | $765.64M | $740.41M | $643.73M | $576.38M |
| Minority Interest | $- | $289.36M | $246.85M | $241.19M | $179.40M |
| Total Liabilities and Total Equity | $938.08M | $765.64M | $740.41M | $643.73M | $576.38M |
| Total Investments | $920.50M | $753.54M | $714.40M | $633.83M | $565.92M |
| Total Debt | $398.35M | $292.61M | $261.35M | $151.38M | $54.30M |
| Net Debt | $395.12M | $289.92M | $247.16M | $149.32M | $51.52M |
Balance Sheet Charts
| Breakdown | December 31, 2024 | September 30, 2024 | June 30, 2024 | March 31, 2024 | December 31, 2023 | September 30, 2023 | June 30, 2023 | March 31, 2023 | December 31, 2022 | September 30, 2022 | June 30, 2022 | March 31, 2022 | December 31, 2021 | September 30, 2021 | June 30, 2021 | March 31, 2021 | December 31, 2020 | September 30, 2020 | June 30, 2020 | March 31, 2020 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and Cash Equivalents | $3.15M | $2.02M | $3.19M | $3.22M | $2.82M | $2.09M | $37.10M | $2.68M | $1.98M | $2.56M | $43.88M | $14.19M | $27.95M | $2.18M | $26.80M | $2.06M | $1.79M | $1.67M | $1.77M | $2.78M |
| Short Term Investments | $- | $649.00K | $-678.90M | $- | $766.00K | $490.00K | $653.00K | $- | $501.34M | $-624.90M | $- | $- | $424.92M | $- | $- | $- | $- | $- | $- | $- |
| Cash and Short Term Investments | $3.15M | $2.67M | $3.19M | $3.22M | $3.58M | $2.58M | $37.75M | $2.68M | $503.32M | $2.56M | $43.88M | $14.19M | $452.87M | $2.18M | $26.80M | $2.06M | $1.79M | $1.67M | $1.77M | $2.78M |
| Net Receivables | $6.25M | $6.91M | $8.60M | $11.05M | $8.73M | $8.15M | $6.56M | $6.94M | $5.90M | $5.24M | $6.87M | $9.45M | $4.56M | $4.47M | $2.56M | $3.37M | $1.77M | $2.15M | $2.47M | $3.43M |
| Inventory | $- | $- | $- | $- | $- | $- | $- | $6.29M | $6.92M | $-2.24M | $1 | $23.94M | $- | $5.07M | $30.74M | $2 | $1 | $-25.73M | $-4.62M | $-2.62M |
| Other Current Assets | $- | $- | $- | $- | $- | $4.40M | $4.09M | $- | $3.69M | $3.29M | $5.61M | $- | $3.14M | $- | $- | $2.10M | $- | $- | $- | $- |
| Total Current Assets | $9.39M | $9.58M | $12.29M | $14.27M | $10.16M | $7.62M | $41.58M | $5.72M | $507.40M | $8.85M | $51.64M | $23.64M | $455.62M | $4.83M | $29.36M | $6.59M | $3.57M | $3.82M | $4.25M | $6.98M |
| Property Plant Equipment Net | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Goodwill | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Intangible Assets | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Goodwill and Intangible Assets | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Long Term Investments | $1.07B | $853.31M | $899.14M | $920.50M | $902.81M | $915.64M | $800.08M | $753.54M | $760.46M | $737.93M | $689.51M | $714.40M | $700.74M | $736.50M | $678.59M | $633.83M | $610.89M | $608.96M | $561.34M | $565.92M |
| Tax Assets | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Other Non-Current Assets | $-1.07B | $-853.31M | $2.78M | $-920.50M | $-902.81M | $-915.64M | $-800.08M | $6.38M | $-760.46M | $1.85M | $1.74M | $-714.40M | $-700.74M | $-736.50M | $-678.59M | $-633.83M | $-610.89M | $-608.96M | $-561.34M | $-565.92M |
| Total Non-Current Assets | $1.07B | $853.31M | $901.91M | $923.81M | $902.81M | $915.64M | $800.08M | $759.92M | $760.46M | $739.78M | $691.25M | $714.40M | $700.74M | $736.50M | $678.59M | $633.83M | $610.89M | $608.96M | $561.34M | $568.20M |
| Other Assets | $6.14M | $5.89M | $- | $- | $4.66M | $5.10M | $5.47M | $- | $-496.30M | $- | $- | $2.38M | $-420.27M | $4.59M | $5.24M | $3.31M | $7.25M | $15.48M | $5.09M | $1.20M |
| Total Assets | $1.09B | $868.78M | $914.21M | $938.08M | $917.62M | $928.35M | $847.12M | $765.64M | $771.56M | $748.63M | $742.90M | $740.41M | $736.10M | $745.93M | $713.19M | $643.73M | $621.70M | $628.26M | $570.67M | $576.38M |
| Account Payables | $5.65M | $30.70M | $4.55M | $4.20M | $5.14M | $4.87M | $4.57M | $3.10M | $4.06M | $4.00M | $3.69M | $2.99M | $3.61M | $3.38M | $2.63M | $1.15M | $1.24M | $1.01M | $1.42M | $1.22M |
| Short Term Debt | $455.06M | $- | $- | $- | $- | $- | $- | $- | $257.12M | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Tax Payables | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Deferred Revenue | $- | $- | $-331.69M | $-327.15M | $- | $- | $- | $- | $- | $- | $-256.56M | $-253.26M | $- | $- | $- | $-122.73M | $-3.86M | $- | $- | $- |
| Other Current Liabilities | $-5.65M | $38.03M | $327.13M | $-4.20M | $38.27M | $-4.87M | $-4.57M | $29.63M | $-4.06M | $252.80M | $30.68M | $-2.99M | $-3.61M | $-3.38M | $-2.63M | $-1.15M | $-1.24M | $-1.01M | $-1.42M | $7.76M |
| Total Current Liabilities | $455.06M | $68.72M | $40.69M | $4.20M | $330.90M | $330.46M | $330.00M | $257.44M | $258.88M | $32.41M | $34.37M | $2.99M | $255.94M | $255.63M | $124.06M | $1.15M | $1.24M | $1.01M | $1.42M | $28.99M |
| Long Term Debt | $- | $- | $395.38M | $398.35M | $413.50M | $409.67M | $376.16M | $292.61M | $286.72M | $273.40M | $261.66M | $261.35M | $261.04M | $269.62M | $- | $- | $- | $- | $- | $- |
| Deferred Revenue Non-Current | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Deferred Tax Liabilities Non-Current | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Other Non-Current Liabilities | $142.65M | $78.27M | $-290.24M | $-398.35M | $-286.73M | $-409.67M | $-376.16M | $-224.14M | $-221.47M | $-224.05M | $-221.74M | $-261.35M | $-261.04M | $-269.62M | $- | $- | $- | $- | $- | $- |
| Total Non-Current Liabilities | $142.65M | $78.27M | $396.13M | $445.37M | $126.78M | $122.22M | $80.69M | $68.47M | $63.49M | $273.75M | $262.11M | $261.35M | $261.04M | $269.62M | $171.05M | $151.38M | $89.10M | $121.70M | $64.60M | $178.36M |
| Other Liabilities | $- | $263.41M | $- | $-4.20M | $- | $- | $- | $- | $- | $- | $- | $30.25M | $-221.47M | $-220.02M | $-2.46M | $108.83M | $162.54M | $145.04M | $143.79M | $- |
| Total Liabilities | $597.71M | $410.40M | $436.83M | $445.37M | $457.68M | $452.68M | $410.69M | $325.90M | $322.37M | $306.16M | $296.49M | $294.58M | $295.51M | $305.23M | $292.65M | $261.37M | $252.88M | $267.74M | $209.81M | $207.35M |
| Preferred Stock | $- | $- | $- | $- | $- | $- | $- | $- | $- | $46.38M | $57.52M | $- | $- | $- | $92.33M | $92.21M | $148.75M | $135.72M | $131.63M | $5.26M |
| Common Stock | $37.00K | $37.00K | $37.00K | $37.00K | $35.00K | $34.00K | $34.00K | $34.00K | $33.00K | $33.00K | $33.00K | $33.00K | $33.00K | $33.00K | $33.00K | $33.00K | $33.00K | $33.00K | $33.00K | $33.00K |
| Retained Earnings | $- | $-16.66M | $-14.45M | $-18.25M | $-16.67M | $-11.75M | $-3.88M | $-5.53M | $427.00K | $-1.07M | $-8.16M | $-12.99M | $-9.02M | $-10.10M | $-7.19M | $2.59M | $3.62M | $2.22M | $2.72M | $6.37M |
| Accumulated Other Comprehensive Income Loss | $- | $- | $47.27M | $66.21M | $34.30M | $80.93M | $32.13M | $32.94M | $38.08M | $0 | $-0 | $45.15M | $25.18M | $45.28M | $-92.33M | $400.83M | $-148.75M | $-135.72M | $-48.55M | $-43.66M |
| Other Total Stockholders Equity | $490.02M | $475.00M | $444.52M | $378.49M | $426.30M | $405.94M | $402.40M | $401.80M | $399.81M | $397.13M | $397.02M | $397.95M | $397.95M | $398.08M | $307.89M | $430.53M | $206.01M | $219.53M | $354.04M | $395.76M |
| Total Stockholders Equity | $490.05M | $458.38M | $477.38M | $492.71M | $459.94M | $475.67M | $436.44M | $439.74M | $449.19M | $442.47M | $446.41M | $445.83M | $440.59M | $440.70M | $420.54M | $382.36M | $368.82M | $360.53M | $360.87M | $369.03M |
| Total Equity | $490.05M | $458.38M | $477.38M | $492.71M | $459.94M | $475.67M | $436.44M | $439.74M | $449.19M | $442.47M | $446.41M | $445.83M | $440.59M | $440.70M | $420.54M | $382.36M | $368.82M | $360.53M | $360.87M | $369.03M |
| Total Liabilities and Stockholders Equity | $1.09B | $868.78M | $914.21M | $938.08M | $917.62M | $928.35M | $847.12M | $765.64M | $771.56M | $748.63M | $742.90M | $740.41M | $736.10M | $745.93M | $713.19M | $643.73M | $621.70M | $628.26M | $570.67M | $576.38M |
| Minority Interest | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Total Liabilities and Total Equity | $1.09B | $868.78M | $914.21M | $938.08M | $917.62M | $928.35M | $847.12M | $765.64M | $771.56M | $748.63M | $742.90M | $740.41M | $736.10M | $745.93M | $713.19M | $643.73M | $621.70M | $628.26M | $570.67M | $576.38M |
| Total Investments | $1.07B | $853.31M | $220.24M | $920.50M | $902.81M | $915.64M | $800.08M | $753.54M | $1.26B | $113.03M | $689.51M | $714.40M | $1.13B | $736.50M | $678.59M | $633.83M | $610.89M | $608.96M | $561.34M | $565.92M |
| Total Debt | $455.06M | $332.13M | $395.38M | $398.35M | $413.50M | $409.67M | $376.16M | $292.61M | $286.72M | $273.40M | $261.66M | $261.35M | $261.04M | $269.62M | $171.05M | $151.38M | $89.10M | $121.70M | $64.60M | $54.30M |
| Net Debt | $451.91M | $-2.02M | $392.19M | $395.12M | $410.69M | $407.58M | $339.06M | $289.92M | $284.74M | $270.85M | $217.78M | $247.16M | $233.09M | $267.44M | $144.26M | $149.32M | $87.30M | $120.03M | $62.82M | $51.52M |
Annual Cash Flow
| Breakdown | March 31, 2024 | March 31, 2023 | March 31, 2022 | March 31, 2021 | March 31, 2020 |
|---|---|---|---|---|---|
| Net Income | $85.31M | $35.55M | $102.32M | $42.45M | $-7.23M |
| Depreciation and Amortization | $- | $12.22M | $-74.90M | $-13.94M | $-51.08M |
| Deferred Income Tax | $- | $- | $- | $- | $- |
| Stock Based Compensation | $- | $- | $- | $- | $- |
| Change in Working Capital | $9.68M | $2.27M | $10.35M | $-6.00M | $-17.19M |
| Accounts Receivables | $- | $2.51M | $-5.37M | $-377.00K | $-107.00K |
| Inventory | $- | $-244.00K | $5.37M | $377.00K | $- |
| Accounts Payables | $-54.00K | $-13.00K | $236.00K | $-521.00K | $330.00K |
| Other Working Capital | $9.73M | $13.00K | $10.12M | $-5.48M | $-17.41M |
| Other Non Cash Items | $-164.92M | $-54.54M | $-1.17M | $-52.24M | $110.82M |
| Net Cash Provided by Operating Activities | $-69.94M | $-4.50M | $36.60M | $-29.73M | $35.31M |
| Investments in Property Plant and Equipment | $- | $- | $- | $- | $- |
| Acquisitions Net | $- | $- | $- | $- | $- |
| Purchases of Investments | $-183.92M | $-133.76M | $-92.74M | $-95.27M | $-145.45M |
| Sales Maturities of Investments | $28.00M | $35.53M | $50.02M | $31.05M | $-89.18M |
| Other Investing Activities | $- | $- | $- | $- | $145.45M |
| Net Cash Used for Investing Activities | $- | $-98.22M | $-42.72M | $-64.22M | $-89.18M |
| Debt Repayment | $106.55M | $35.20M | $112.15M | $101.14M | $-4.01M |
| Common Stock Issued | $44.51M | $5.49M | $- | $1.77M | $3.13M |
| Common Stock Repurchased | $- | $- | $-94.37M | $-57.50M | $- |
| Dividends Paid | $-76.06M | $-47.05M | $-38.85M | $-30.86M | $-33.92M |
| Other Financing Activities | $-5.09M | $-385.00K | $-97.80M | $-43.98M | $-56.00K |
| Net Cash Used Provided by Financing Activities | $69.91M | $-6.74M | $-24.50M | $28.07M | $-34.85M |
| Effect of Forex Changes on Cash | $- | $98.22M | $42.72M | $64.22M | $89.18M |
| Net Change in Cash | $-28.00K | $-11.25M | $12.10M | $-1.66M | $455.00K |
| Cash at End of Period | $3.22M | $3.25M | $14.49M | $2.40M | $4.06M |
| Cash at Beginning of Period | $3.25M | $14.49M | $2.40M | $4.06M | $3.60M |
| Operating Cash Flow | $-69.94M | $-4.50M | $36.60M | $-29.73M | $35.31M |
| Capital Expenditure | $- | $- | $- | $- | $- |
| Free Cash Flow | $-69.94M | $-4.50M | $36.60M | $-29.73M | $35.31M |
Cash Flow Charts
| Breakdown | December 31, 2024 | September 30, 2024 | June 30, 2024 | March 31, 2024 | December 31, 2023 | September 30, 2023 | June 30, 2023 | March 31, 2023 | December 31, 2022 | September 30, 2022 | June 30, 2022 | March 31, 2022 | December 31, 2021 | September 30, 2021 | June 30, 2021 | March 31, 2021 | December 31, 2020 | September 30, 2020 | June 30, 2020 | March 31, 2020 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Income | $-29.16M | $-22.58M | $-6.53M | $22.58M | $6.58M | $47.36M | $8.79M | $4.66M | $15.78M | $3.08M | $12.04M | $16.70M | $10.35M | $28.14M | $47.14M | $20.51M | $15.27M | $6.63M | $39.00K | $-37.60M |
| Depreciation and Amortization | $15.72M | $34.11M | $18.94M | $-35.28M | $589.00K | $574.00K | $820.00K | $-5.25M | $7.05M | $- | $443.00K | $27.08M | $-54.92M | $452.00K | $-47.52M | $-19.65M | $451.00K | $373.00K | $4.88M | $-51.62M |
| Deferred Income Tax | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Stock Based Compensation | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Change in Working Capital | $-965.00K | $-240.00K | $-4.04M | $240.00K | $725.00K | $7.86M | $849.00K | $-3.10M | $2.29M | $-793.00K | $3.88M | $-6.27M | $-1.11M | $6.21M | $11.53M | $4.37M | $3.17M | $-3.47M | $-10.07M | $-8.82M |
| Accounts Receivables | $2.91M | $2.33M | $1.70M | $-2.33M | $-580.00K | $-1.58M | $375.00K | $-1.04M | $-657.00K | $-844.00K | $886.00K | $-4.89M | $-90.00K | $-544.00K | $147.00K | $1.62M | $378.00K | $320.00K | $912.00K | $-779.00K |
| Inventory | $- | $- | $- | $-474.00K | $- | $- | $474.00K | $1.04M | $657.00K | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Accounts Payables | $-2.40M | $-1.90M | $-5.62M | $2.94M | $863.00K | $8.07M | $864.00K | $-1.98M | $964.00K | $- | $1.41M | $-756.00K | $782.00K | $5.90M | $901.00K | $3.36M | $- | $- | $185.00K | $143.00K |
| Other Working Capital | $-1.47M | $-669.00K | $-119.00K | $-371.00K | $442.00K | $1.37M | $-864.00K | $-1.13M | $1.33M | $-240.00K | $2.28M | $-632.00K | $-1.89M | $2.85M | $10.63M | $-1.06M | $2.56M | $-3.28M | $-10.25M | $-8.82M |
| Other Non Cash Items | $-149.75M | $51.88M | $24.41M | $-17.22M | $12.97M | $-115.93M | $-46.90M | $12.60M | $-29.08M | $528.00K | $514.00K | $-13.12M | $91.26M | $-55.50M | $3.27M | $-22.06M | $7.94M | $-57.78M | $15.00K | $-4.60M |
| Net Cash Provided by Operating Activities | $-164.16M | $63.16M | $9.92M | $6.21M | $20.87M | $-60.14M | $-36.45M | $8.90M | $-3.96M | $-50.76M | $41.31M | $-2.69M | $45.58M | $-20.70M | $14.42M | $2.83M | $26.82M | $-54.25M | $-5.13M | $-51.03M |
| Investments in Property Plant and Equipment | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Acquisitions Net | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Purchases of Investments | $-138.06M | $-19.16M | $-598.00K | $-936.00K | $-68.20M | $-66.81M | $-47.98M | $101.80M | $-133.51M | $- | $-27.80M | $-8.19M | $-84.55M | $-30.40M | $-17.15M | $-5.70M | $- | $- | $-300.00K | $51.23M |
| Sales Maturities of Investments | $20.55M | $48.05M | $3.00M | $500.00K | $27.50M | $- | $1.77M | $-21.69M | $35.53M | $- | $48.00M | $4.50M | $50.02M | $- | $7.78M | $-30.52M | $- | $- | $620.00K | $-97.68M |
| Other Investing Activities | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Net Cash Used for Investing Activities | $- | $- | $2.40M | $-436.00K | $-40.70M | $-66.81M | $-46.20M | $80.11M | $-97.97M | $- | $20.20M | $-3.69M | $-34.53M | $-30.40M | $-9.38M | $-36.22M | $- | $- | $320.00K | $-46.45M |
| Debt Repayment | $- | $-54.80M | $-3.30M | $-16.41M | $3.30M | $33.10M | $85.75M | $5.61M | $13.00M | $16.60M | $- | $- | $-8.90M | $101.55M | $19.50M | $61.38M | $-32.74M | $57.10M | $10.30M | $45.00M |
| Common Stock Issued | $2.03M | $-18.95M | $- | $19.26M | $21.13M | $4.08M | $- | $2.03M | $3.00M | $- | $- | $- | $- | $- | $- | $19.28M | $- | $- | $1.77M | $3.13M |
| Common Stock Repurchased | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $-94.37M | $- | $- | $- | $-57.50M | $- | $- | $- | $- |
| Dividends Paid | $-51.78M | $-8.80M | $-8.80M | $-8.68M | $-43.10M | $-12.18M | $-12.09M | $-16.11M | $-12.01M | $-7.47M | $-11.46M | $-11.46M | $-10.46M | $-7.97M | $-8.96M | $-6.97M | $-6.97M | $-6.97M | $-9.94M | $-6.94M |
| Other Financing Activities | $222.08M | $-6.28M | $-246.00K | $-312.00K | $-1.19M | $4.05M | $-2.71M | $-29.00K | $-128.00K | $259.00K | $-75.00K | $- | $- | $-97.73M | $-75.00K | $-57.50M | $12.99M | $3.61M | $2.00M | $-132.00K |
| Net Cash Used Provided by Financing Activities | $172.33M | $-69.89M | $-12.35M | $-6.14M | $-19.86M | $24.97M | $70.95M | $-8.50M | $3.90M | $9.38M | $-11.53M | $-11.46M | $-19.36M | $-4.15M | $10.46M | $-3.09M | $-26.72M | $53.74M | $4.14M | $41.06M |
| Effect of Forex Changes on Cash | $- | $- | $- | $-153.71M | $40.70M | $66.81M | $46.20M | $-80.11M | $97.97M | $- | $- | $-43.91M | $34.53M | $- | $9.38M | $320.00K | $- | $- | $-320.00K | $-42.74M |
| Net Change in Cash | $-73.00K | $-516.00K | $-30.00K | $-365.00K | $1.00M | $-35.17M | $34.50M | $401.00K | $-56.00K | $-41.37M | $29.78M | $-14.15M | $26.22M | $-24.86M | $24.88M | $-262.00K | $104.00K | $-513.00K | $-991.00K | $-9.97M |
| Cash at End of Period | $3.15M | $2.67M | $3.19M | $3.22M | $3.58M | $2.58M | $37.75M | $3.25M | $2.85M | $2.90M | $44.28M | $14.49M | $28.64M | $2.42M | $27.28M | $2.40M | $2.66M | $2.56M | $3.07M | $4.06M |
| Cash at Beginning of Period | $3.22M | $3.19M | $3.22M | $3.58M | $2.58M | $37.75M | $3.25M | $2.85M | $2.90M | $44.28M | $14.49M | $28.64M | $2.42M | $27.28M | $2.40M | $2.66M | $2.56M | $3.07M | $4.06M | $14.03M |
| Operating Cash Flow | $-164.16M | $63.16M | $9.92M | $6.21M | $20.87M | $-60.14M | $-36.45M | $8.90M | $-3.96M | $-50.76M | $41.31M | $-2.69M | $45.58M | $-20.70M | $14.42M | $2.83M | $26.82M | $-54.25M | $-5.13M | $-51.03M |
| Capital Expenditure | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Free Cash Flow | $-164.16M | $63.16M | $9.92M | $6.21M | $20.87M | $-60.14M | $-36.45M | $8.90M | $-3.96M | $-50.76M | $41.31M | $-2.69M | $45.58M | $-20.70M | $14.42M | $2.83M | $26.82M | $-54.25M | $-5.13M | $-51.03M |
Gladstone Investment Dividends
Explore Gladstone Investment's dividend history, including dividend yield, payout ratio, and historical payments.
Dividend Yield
15.73%
Dividend Payout Ratio
89.16%
Dividend Paid & Capex Coverage Ratio
-0.92x
Gladstone Investment Dividend History
| Dividend | Adjusted Dividend | Date | Record Date | Payment Date | Declaration Date |
|---|---|---|---|---|---|
| $0.08 | $0.08 | March 19, 2025 | March 19, 2025 | March 31, 2025 | January 14, 2025 |
| $0.08 | $0.08 | February 19, 2025 | February 19, 2025 | February 28, 2025 | January 14, 2025 |
| $0.08 | $0.08 | January 24, 2025 | January 24, 2025 | January 31, 2025 | January 14, 2025 |
| $0.08 | $0.08 | December 20, 2024 | December 20, 2024 | December 31, 2024 | October 08, 2024 |
| $0.08 | $0.08 | November 20, 2024 | November 20, 2024 | November 29, 2024 | October 08, 2024 |
| $0.08 | $0.08 | October 22, 2024 | October 22, 2024 | October 31, 2024 | October 08, 2024 |
| $0.08 | $0.08 | September 20, 2024 | September 20, 2024 | September 30, 2024 | July 09, 2024 |
| $0.08 | $0.08 | August 21, 2024 | August 21, 2024 | August 30, 2024 | July 09, 2024 |
| $0.08 | $0.08 | July 22, 2024 | July 22, 2024 | July 31, 2024 | July 09, 2024 |
| $0.08 | $0.08 | June 18, 2024 | June 19, 2024 | June 28, 2024 | April 09, 2024 |
| $0.08 | $0.08 | May 16, 2024 | May 17, 2024 | May 31, 2024 | April 09, 2024 |
| $0.08 | $0.08 | April 18, 2024 | April 19, 2024 | April 30, 2024 | April 09, 2024 |
| $0.08 | $0.08 | March 20, 2024 | March 21, 2024 | March 29, 2024 | January 09, 2024 |
| $0.08 | $0.08 | February 20, 2024 | February 21, 2024 | February 29, 2024 | January 09, 2024 |
| $0.08 | $0.08 | January 22, 2024 | January 23, 2024 | January 31, 2024 | January 09, 2024 |
| $0.08 | $0.08 | December 15, 2023 | December 18, 2023 | December 29, 2023 | October 10, 2023 |
| $0.88 | $0.88 | December 04, 2023 | December 05, 2023 | December 15, 2023 | October 23, 2023 |
| $0.08 | $0.08 | November 17, 2023 | November 20, 2023 | November 30, 2023 | October 10, 2023 |
| $0.12 | $0.12 | November 06, 2023 | November 07, 2023 | November 17, 2023 | October 10, 2023 |
| $0.08 | $0.08 | October 19, 2023 | October 20, 2023 | October 31, 2023 | October 10, 2023 |
Gladstone Investment News
Read the latest news about Gladstone Investment, including recent articles, headlines, and updates.
Let's Talk Mortgage REITs (But Not For Too Long)
A bunch of mortgage REITs were severely overvalued. Now they are less overvalued. But some others are actually bargains. Tons of charts because images are fun. Ellington Financial's higher price-to-book ratio may be due to lower volatility in the total economic return by period. Digital Realty Trust deserves to be mocked. I am reporting for duty!
Yield Hunting Part 13: GAIN's Baby Bond Gives Us 7%+ YTM
GAINZ is a low-duration pick with a yield to maturity of 7.64%, trading below par, and a stripped price of $22.98. GAIN's credit score is a Baa2 equivalent, factoring in profitability, ACR cushion, asset quality, and debt structure. Despite high expense ratios and problem loans, GAIN's low leverage and secured debt offer safety to bondholders, making it a credible investment.
Gladstone Investment Corporation Exits Its Investment in Nocturne Luxury Villas
MCLEAN, VA / ACCESS Newswire / March 11, 2025 / Gladstone Investment Corporation (NASDAQ:GAIN) ("Gladstone Investment") announced today the sale of its portfolio company Nocturne Luxury Villas, Inc. ("Nocturne" or the "Company") to an affiliate of Calera Capital. As a result of this transaction, Gladstone Investment received full repayment of its debt investment and realized a significant capital gain on its equity investment.
9% Yields From Baby Bonds
Yield to maturity is crucial in baby bond analysis. Yield to call can also be relevant when call risk is more relevant. We're starting with a hypothetical for demonstrating a key point, then we'll look at two baby bonds as they are trading today. Market inefficiencies can arise from liquidity issues, creating trading opportunities between similar preferred shares or baby bonds.
Gladstone Investment Corporation Expands its Investment in Pyrotek Special Effects via the Acquisition of Unique Pyrotechnic
MCLEAN, VA / ACCESS Newswire / February 26, 2025 / Gladstone Investment Corporation (Nasdaq:GAIN) ("Gladstone Investment") continued its support of portfolio company Pyrotek Special Effects, Inc. ("Pyrotek") through providing additional capital to support the acquisition of Unique Pyrotechnic ("Unique"). Unique designs and delivers live special effects solutions in Sweden, Norway, and Denmark.
Yield-Hunting Part 9: GAINI And Its 7.64% Yield To Worst
Focus on low-duration fixed-income products to capitalize on small price deviations, with a preference for 5-year terms callable after 2 years. GAINI, a 7.875% baby bond from Gladstone Investment Corporation, is undervalued compared to other BDC bonds, offering high yield and low expected volatility. GAIN's credit score is adjusted to 8.21, equivalent to Baa1, due to its smaller market cap, low diversification, and high problem loans, yet it remains among higher-quality BDCs.
Gladstone Investment: Shrinking Earnings Offset By Increased Investment Activity
Gladstone Investment is a business development company that puts a greater emphasis on equity investments in additional to traditional debt investments. GAIN offers a monthly distribution payout of $0.08 per share, resulting in a dividend yield of approximately 7.2%. Net investment income has slightly decreased, but so has non-accruals. The future performance is heavily influenced on how effective new investments are over time.
Gladstone Investment (GAIN) Q3 2024 Earnings Call Transcript
Gladstone Investment (NASDAQ:GAIN ) Q3 2025 Earnings Conference Call February 12, 2025 11:00 AM ET Company Participants David Gladstone - CEO Michael LiCalsi - General Counsel and Secretary Dave Dullum - President Taylor Ritchie - CFO Conference Call Participants Matthew Hurwit - Jefferies Operator Greetings, and welcome to Gladstone Investment Corporation's Third Quarter Earnings Call. At this time, all participants are in a listen-only mode.
Here's What Key Metrics Tell Us About Gladstone Investment (GAIN) Q3 Earnings
The headline numbers for Gladstone Investment (GAIN) give insight into how the company performed in the quarter ended December 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
Gladstone Investment Corporation Reports Financial Results for its Third Quarter Ended December 31, 2024
MCLEAN, VA / ACCESS Newswire / February 12, 2025 / Gladstone Investment Corporation (Nasdaq:GAIN) (the "Company") today announced earnings for its third fiscal quarter ended December 31, 2024. Please read the Company's Quarterly Report on Form 10-Q, filed today with the U.S. Securities and Exchange Commission (the "SEC"), which is available on the SEC's website at www.sec.gov or the investors section of the Company's website at www.gladstoneinvestment.com.
Gladstone Investment Corporation Earnings Call and Webcast Information
MCLEAN, VA / ACCESS Newswire / February 11, 2025 / Gladstone Investment Corporation (Nasdaq:GAIN) announces the following event: What: Gladstone Investment Corporation's Third Fiscal Quarter Ended December 31, 2024 Earnings Call & Webcast When: Thursday, February 13, 2025 @ 8:30 a.m. ET Where: https://event.choruscall.com/mediaframe/webcast.html?webcastid=g3DvLY9j How: By webcast -- Log on to the web at the address above By phone -- please call (866) 424-3437 Contact: Gladstone Investment Corporation, (703) 287-5893 A conference call replay will be available beginning one hour after the call and will be accessible through February 20, 2025.
Preferred Stocks And More
Two new additions to the HDO Bond Ladder: Baby Bonds ECCU and GAINI, both maturing in 2030. As we enter 2025, the fixed-income landscape offers opportunities despite declining short-term rates, with quality companies providing attractive long-term yields through preferred securities and baby bonds. Investment-grade debt securities with high coupons offer attractive yields. Diversify with staggered call/maturity dates to safeguard income and enhance portfolio stability.
Two 7% Yields With Near-Term Catalysts
When searching for durable ~7% yields, accessing meaningful price returns is difficult. Opportunities that offer both components are rare. In this article I share two high-yielding durable income picks, which come with high-probability near-term catalysts for a significant price appreciation.
New Preferred Stock IPOs, January 2025
January saw five new preferred stock and exchange traded debt offerings with yields ranging from 6.5% to 9.125%. Notable new offerings include Gladstone Investment Corp.'s notes at 7.875%, American National Group's preferred stock at 7.375%, and Southern Company's notes at 6.5%. Investors can purchase new preferred stocks at wholesale prices on the OTC exchange, potentially avoiding capital loss if prices drop.
Gladstone Investment: Equity Focus Could Pay Off Big In 2025 (Upgrade)
Gladstone Investment Corporation, an Equity-oriented BDC, paid a special $0.70 per share dividend and has potential for valuation growth in 2025 with strong market performance. The BDC's portfolio value reached $853.3 million, with 32% in Equity, positioning it to benefit from surging stock prices and special dividends. Despite a weak dividend pay-out ratio, Gladstone Investment's Equity exits could improve metrics and offer upside if U.S. stock markets hit new highs in 2025.
Gladstone Investment Announces Monthly Cash Distributions for January, February and March 2025, and Earnings Release and Conference Call Dates for the Third Fiscal Quarter
MCLEAN, VA / ACCESSWIRE / January 14, 2025 / Gladstone Investment Corporation (Nasdaq:GAIN) (the "Company") announced today that its board of directors declared the following monthly cash distributions to common stockholders. The Company also announced its plan to report earnings for its third fiscal quarter ended December 31, 2024.
D.A. Davidson Acts as Sell-Side Advisor to Nielsen-Kellerman on Its Sale to Gladstone Investment Corporation
SALT LAKE CITY--(BUSINESS WIRE)--D.A. Davidson & Co. announced today that it served as the exclusive sell-side financial advisor to Nielsen-Kellerman Acquisition Corp. (“Nielsen-Kellerman” or the “Company”) and its Private Equity Sponsor, Clearview Capital, in the sale of Nielsen-Kellerman to Gladstone Investment Corporation. Founded in 1978 and headquartered in Boothwyn, PA, Nielsen-Kellerman designs, manufactures, and distributes a wide range of rugged, waterproof environmental measuremen.
Proteus Enterprises Acquires Ricardo Defense Inc., Leading System Integrator for US Army Systems
WASHINGTON , Jan. 8, 2025 /PRNewswire/ -- Proteus Enterprises ("Proteus"), a Maryland-based Aerospace, Defense and Government Services holding company, today announced that it acquired Ricardo Defense, Inc. ("Ricardo Defense" or the "Company") in partnership with Gladstone Investment Corporation (NASDAQ: GAIN). Financial terms were not disclosed.
Gladstone Investment Corporation Acquires the Ricardo Defense Business
MCLEAN, VA / ACCESSWIRE / January 2, 2025 / Gladstone Investment Corporation (NASDAQ:GAIN) ("Gladstone Investment") is pleased to announce its acquisition of Ricardo Defense Systems, LLC and Ricardo Defense, Inc. (collectively, "RDI"), along with Proteus Enterprises LLC. Gladstone Investment provided equity and senior secured debt to complete the transaction.
GAINI: A 7.875% Baby Bond IPO From Gladstone Investment Corporation
Gladstone Investment's new 7.875% baby bond, GAINI, offers a solid yield with a maturity date of 12/01/2030 and is callable from 02/01/2027. The company's financials show sufficient coverage for interest payments, with a Debt-to-Equity ratio of 0.98 and an Earnings-to-Debt ratio of 1.34. GAINI is undervalued compared to Gladstone's other baby bonds, providing a better yield opportunity for investors seeking debt exposure.
Preferreds Weekly Review: Fixed-Rate Preferreds Underperform
We take a look at the action in preferreds and baby bonds through the second week of December and highlight some of the key themes we are watching. All preferred stock sectors declined as longer-term Treasury yields rose; mREITs outperformed due to SOFR Fix/Float and CMT Reset preferreds. BDC GAIN issued a 7.875% 2030 baby bond.
Gladstone Investment Corporation Acquires Nielsen-Kellerman
MCLEAN, VA / ACCESSWIRE / December 20, 2024 / Gladstone Investment Corporation (NASDAQ:GAIN) ("Gladstone Investment") is pleased to announce its acquisition of Nielsen-Kellerman, Inc. ("Nielsen-Kellerman" or the "Company") on December 19, 2024. This transaction was executed in collaboration with Nielsen-Kellerman's executive leadership team, with Gladstone Investment providing both equity capital and senior secured debt to facilitate the acquisition.
Gladstone Investment Corporation Enters Into Definitive Agreement to Acquire the Ricardo Defense Business
MCLEAN, VA / ACCESSWIRE / December 19, 2024 / Gladstone Investment Corporation (Nasdaq:GAIN) ("Gladstone Investment") announced today that on December 13, 2024, it, along with Proteus Enterprises LLC, signed a definitive agreement to acquire Ricardo Defense, Inc. ("RDI").Final closing is anticipated for December 31, 2024, once all customary closing conditions have been satisfied. Gladstone Investment will provide equity and senior secured debt to complete the transaction.
Huge Yields, Brief Notes
Preferred shares rallied, as predicted. Finding value is getting much harder. There are some common shares trading at discounts. Some big, some tiny. I would be interested in a few of the agency mortgage REITs, but the ones I would prefer remain unavailable. The valuation between those good ones and some of the weaker ones (as measured by things like destruction of shareholder wealth and me not liking them) is still small sometimes.
Gladstone Investment Corporation Prices Public Offering of 7.875% Notes due 2030
MCLEAN, VA / ACCESSWIRE / December 10, 2024 / Gladstone Investment Corporation (NASDAQ:GAIN) (the "Company") today announced that it priced a public offering of $110.0 million aggregate principal amount of 7.875% Notes due 2030 (the "Notes") on December 10, 2024. The Notes will mature on February 1, 2030 and may be redeemed in whole or in part at any time or from time to time at the Company's option on or after February 1, 2027.
Gladstone Investment Corporation Announces Notes Offering
MCLEAN, VA / ACCESSWIRE / December 9, 2024 / Gladstone Investment Corporation (Nasdaq:GAIN) (the "Company") today announced that it plans to make a public offering of Notes due 2030 (the "Notes"). The Company expects to list the Notes on the Nasdaq Global Select Market under the trading symbol "GAINI" within 30 days of issuance.
Gladstone Investment Corporation Acquires Pyrotek Special Effects
MCLEAN, VA / ACCESSWIRE / November 25, 2024 / Gladstone Investment Corporation (NASDAQ:GAIN) ("Gladstone Investment") announced today that on November 22, 2024, it partnered with Scott Dunlop and the company's executive management in the acquisition of Pyrotek Special Effects, Inc. ("Pyrotek"). Gladstone Investment provided equity and senior secured debt to complete the transaction.
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