Gladstone Investment Corporation · Q4 2022 earnings

Briefing

Reported financial results for the fourth quarter and fiscal year ended March 31, 2022.

Gladstone Investment Corporation announced earnings for its fourth quarter and fiscal year ended March 31, 2022. Net investment income for the quarter ended March 31, 2022 was $6.7 million, or $0.20 per weighted-average common share. Total investment income during the quarters ended March 31, 2022 was $19.2 million.

• Invested an aggregate of $8.2 million in various existing portfolio companies through secured first lien debt, secured second lien debt and preferred equity.
• Received aggregate repayments of $4.5 million of secured first lien and secured second lien debt.
• Entered into a new $26.0 million secured first lien term loan with J.R. Hobbs, replacing our previously outstanding first lien term loan with a total cost basis of $36.0 million, which resulted in a realized loss of $10.0 million.
• Paid $0.075 per common share to common stockholders in each of January, February, and March 2022; and Paid a $0.12 per common share supplemental distribution to common stockholders in February 2022.

Headline financials

Revenue & EPS history

In April 2022, our Board of Directors declared the following monthly and supplemental distributions to common stockholders: Record Date Payment Date Distribution per Common Share April 22, 2022 April 29, 2022 $0.075 May 20, 2022 May 31, 2022 0.075 June 6, 2022 June 15, 2022 0.120 (A) June 22, 2022 June 30, 2022 0.075 Total for the Quarter: $0.345 (A) (A)Represents a supplemental distribution to common stockholders.