Gladstone Capital Corporation Reports Financial Results for Q2 2024

Gladstone Capital Corporation (NASDAQ:GLAD) disclosed its earnings for the second quarter of fiscal year 2024, which concluded on March 31, 2024. The company reported a total investment income of $23,997,000, marking a 3.3% increase from the previous quarter. However, net investment income dropped by 9.7% to $10,777,000. The earnings per common share for net investment income were $0.25, down from $0.27 in the previous quarter.

Detailed financial data reveals a noteworthy 727.5% rise in net realized gains and a 37.0% increase in net unrealized appreciation, contributing to an 18.2% overall increase in net assets resulting from operations compared to the prior quarter. Key portfolio activities included investments in both new and existing portfolio companies, totaling over $44 million. The portfolio’s dominant component, over 70% secured first lien assets, maintained a steady yield of 14.0%.

Furthermore, the company expanded its credit facility by $10 million, bolstering Gladstone’s borrowing capacity to $243.7 million with over $100 million available by quarter end. These fiscal enhancements underscore the company’s operational resilience and strategic growth in a fluctuating economic environment.