Gladstone Capital Q1 2024 Earnings Report

Gladstone Capital reported earnings for the first quarter ended December 31, 2023.

Key Takeaways

Gladstone Capital Corporation reported a net investment income of $11.9 million, or $0.274 per share, covering distributions paid of $0.2475 by over 110%. The net increase in net assets resulting from operations was $20.0 million, or $0.46 per share, driven primarily by $7.8 million of net unrealized appreciation.

Invested $11.0 million in one new portfolio company and $47.0 million in existing portfolio companies.

Secured first lien assets continue to be over 70% of debt investments, at cost, while the weighted average yield on debt investments was consistent at 13.9%.

Increased the committed facility amount by $10.0 million to $233.7 million and ended the quarter with availability in excess of $130 million.

Total investment income decreased by 2.3% due to decreases in interest income and other income.

Total Revenue

$23.5M

Previous year: $19.3M