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Gladstone Capital (GLAD) investor relations material
Gladstone Capital Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary5 Aug, 2025
Executive summary
Net investment income for the quarter was $11.3 million ($0.50 per share), with total investment income at $21.7 million and a portfolio fair value of $751.3 million across 51 companies as of June 30, 2025.
Portfolio activity included $73 million in new investments and $82 million in exits/prepayments, resulting in a $9 million net decrease for the quarter; post-quarter, $93 million in new investments were closed.
Portfolio remains diversified across 14 industries, with significant exposure to healthcare and manufacturing, and 81% sponsor-backed.
Emphasis on first-lien, secured loans, with 70% in first-lien and 90% in secured loans; three non-accrual investments at quarter-end, representing 1.7% of debt investments at fair value.
Distributions to common stockholders totaled $1.89 per share for the nine months ended June 30, 2025, with monthly distributions of $0.165 per share announced for July, August, and September.
Financial highlights
Total investment income was $21.7 million for the quarter, with interest income at $20.9 million; net investment income was $11.3 million, covering common distributions.
Net asset value per share declined $0.16 to $21.25; LTM ROE was 15.8% per GAAP.
Net increase in net assets from operations was $7.4 million ($0.33/share), impacted by realized and unrealized depreciation.
Total expenses were largely unchanged; interest expenses declined by $500K, offset by a similar rise in management and incentive fees.
Weighted average yield on debt investments rose to 12.8% for the quarter.
Outlook and guidance
Management anticipates a resurgence in portfolio growth, supported by a healthy deal pipeline and strong new investment opportunities.
Expects net originations of $50 million or more per quarter, supporting organic growth and stable distributions.
Monthly distributions of $0.165 per share announced for July, August, and September, annualizing to $1.98 per share.
Ample liquidity and conservative leverage position the company for continued asset and fee income growth.
Forward-looking statements caution that actual results may differ due to various risks and uncertainties.
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Next Gladstone Capital earnings date
Q4 202513 Nov, 2025
Next Gladstone Capital earnings date
Q4 202513 Nov, 2025
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Frequently asked questions
Gladstone Capital Corporation, together with its subsidiaries, is principally a business development company. It makes investments through originations and acquisitions of direct investments in small and medium-sized businesses and provides long-term financing to such businesses to support their acquisition, refinancing, and capital expansion activities.
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