Private Credit Portfolio Analysis | Gladstone Investment Reports FY 2025 Results
- Editor
- May 13
- 2 min read
Whats New:
Gladstone Investment Corporation reported its fiscal year 2025 financial results, showing growth in total assets and investments at fair value. The fund's total assets increased to $1.01 billion as of March 31, 2025, up from $938.08 million at the end of the previous fiscal year. Net asset value per share also improved to $13.55, compared to $13.43 at the end of fiscal year 2024.
Portfolio Dynamics:
Total assets grew to $1.01 billion as of March 31, 2025, compared to $938.08 million at the end of fiscal year 2024.
Investments owned at fair value increased to $979.32 million, up from $920.50 million at the end of fiscal year 2024.
Cash and cash equivalents rose to $14.30 million from $2.46 million at the end of fiscal year 2024.
Investment Activity:
The fund made new investments totaling $221.22 million during fiscal year 2025.
Proceeds from principal repayments of investments were $123.60 million in fiscal year 2025.
Proceeds from sale and recapitalization of investments were $76.03 million in fiscal year 2025.
Capital Structure:
Long-term debt increased to $455.71 million from $398.35 million at the end of fiscal year 2024.
Stockholders' equity grew to $499.08 million from $492.71 million at the end of fiscal year 2024.
The fund issued additional common stock, with additional paid-in capital increasing to $445.51 million from $444.71 million at the end of fiscal year 2024.
Performance Profile:
Net asset value per share increased to $13.55 as of March 31, 2025, compared to $13.43 at the end of fiscal year 2024.
The fund reported a net profit of $65.32 million for fiscal year 2025.
Realized gains on investments were $63.18 million, while unrealized depreciation was $25.96 million for fiscal year 2025.
Risk & Quality:
The fund reported an increase in interest payable to $4.88 million from $3.47 million at the end of fiscal year 2024.
Accounts payable and accrued liabilities increased to $1.29 million from $0.73 million at the end of fiscal year 2024.
The fund's line of credit balance decreased to $0 from $67.00 million at the end of fiscal year 2024.
The Wrap:
Gladstone Investment Corporation demonstrated growth in fiscal year 2025, with increases in total assets, investments at fair value, and net asset value per share. The fund's investment activity remained robust, with significant new investments and proceeds from investment sales and repayments. While long-term debt increased, the fund also strengthened its equity position. However, the increase in interest payable and accounts payable suggests higher costs associated with the fund's expanded operations and investment activities.
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