Gladstone Capital Corporation Announces Financial Results for Q3 2024

MCLEAN, VA / ACCESSWIRE / August 7, 2024 / Gladstone Capital Corporation (Nasdaq:GLAD) released its financial results for the third fiscal quarter ended June 30, 2024. The detailed financial report is available on the SEC's website and the Company’s website.

Total investment income rose by $1.7 million, a 7.1% increase compared to the previous quarter. This rise is mainly due to increased dividend income and prepayment fee income. Net investment income for the quarter stood at $12.4 million, translating to $0.57 per share.

Total expenses saw a slight increase of $76 thousand, or 0.6%, primarily due to a rise in the net incentive fee. The net assets resulting from operations decreased to $19.1 million compared to $23.6 million in the prior quarter, mainly due to changes in net unrealized appreciation and net realized gains.

Key portfolio activity included $27.3 million invested in new portfolio companies and $19.1 million in existing ones. Additionally, the Company increased its credit facility amount by $25.0 million, ending the quarter with over $180 million in availability.

The Board also declared three distributions totaling $0.495 per common share for the upcoming quarter. Significant events post-June included the repayment of an investment in Tailwind Smith Cooper Intermediate Corporation and further investment in Turn Key Health Clinics, LLC.