GLADSTONE INVESTMENT CORPORATION\DE
For the period ended Mar 31, 2026. Filed May 12, 2026.
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FY2026 · Filed May 12, 2026
GAIN$15.01-0.5%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Operations for the years ended and
(DOLLAR AMOUNTS IN THOUSANDS EXCEPT PER SHARE AMOUNTS)
| Year Ended March 31, | |||
|---|---|---|---|
| 2026 | 2025 | 2024 | |
| INVESTMENT INCOME | |||
| Interest income: | |||
| Non-Control/Non-Affiliate investments | $64,004 | $59,762 | $56,424 |
| Affiliate investments | 25,386 | 23,605 | 24,578 |
| Cash and cash equivalents | 351 | 245 | 792 |
| Total interest income | 89,741 | 83,612 | 81,794 |
| Dividend income: | |||
| Non-Control/Non-Affiliate investments | 1,063 | 3,254 | — |
| Affiliate investments | 5,048 | 26 | 1,907 |
| Total dividend income | 6,111 | 3,280 | 1,907 |
| Success fee income: | |||
| Non-Control/Non-Affiliate investments | 2,032 | 5,934 | 2,285 |
| Affiliate investments | 1,193 | 836 | 1,320 |
| Total success fee income | 3,225 | 6,770 | 3,605 |
| Total investment income | 99,077 | 93,662 | 87,306 |
| EXPENSES | |||
| Base management fee(A) | 22,824 | 19,105 | 17,500 |
| Loan servicing fee(A) | 11,821 | 9,636 | 9,118 |
| Incentive fee(A) | 38,280 | 12,265 | 21,047 |
| Administration fee(A) | 1,959 | 1,914 | 1,789 |
| Interest expense on borrowings | 37,140 | 28,246 | 24,121 |
| Amortization of deferred financing costs and discounts | 3,881 | 2,852 | 2,305 |
| Professional fees | 2,069 | 1,593 | 1,382 |
| Other general and administrative expenses | 2,109 | 4,701 | 2,981 |
| Expenses before credits from Adviser | 120,083 | 80,312 | 80,243 |
| Credits to base management fee – loan servicing fee(A) | (11,821) | (9,636) | (9,118) |
| Credits to fees from Adviser - other(A) | (5,433) | (5,109) | (5,596) |
| Total expenses, net of credits to fees | 102,829 | 65,567 | 65,529 |
| NET INVESTMENT (LOSS) INCOME | $(3,752) | $28,095 | $21,777 |
| REALIZED AND UNREALIZED GAIN (LOSS) | |||
| Net realized gain (loss): | |||
| Non-Control/Non-Affiliate investments | $120 | $19,811 | $43,749 |
| Affiliate investments | (26,414) | 43,373 | 275 |
| Control investments | — | — | (13,768) |
| Other | (1,301) | — | — |
| Total net realized gain (loss) | (27,595) | 63,184 | 30,256 |
| Net unrealized appreciation (depreciation): | |||
| Non-Control/Non-Affiliate investments | 186,000 | 8,786 | 9,864 |
| Affiliate investments | 29,876 | (32,184) | 10,317 |
| Control investments | 270 | (2,562) | 13,120 |
| Other | (46) | — | (29) |
| Total net unrealized appreciation (depreciation) | 216,100 | (25,960) | 33,272 |
| Net realized and unrealized gain | 188,505 | 37,224 | 63,528 |
| NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS | $184,753 | $65,319 | $85,305 |
| BASIC AND DILUTED PER COMMON SHARE: | |||
| Net investment (loss) income | $(0.10) | $0.76 | $0.63 |
| Net increase in net assets resulting from operations | $4.77 | $1.78 | $2.47 |
| WEIGHTED-AVERAGE SHARES OF COMMON STOCK OUTSTANDING: | |||
| Basic and diluted | 38,712,611 | 36,735,218 | 34,466,724 |
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