Gladstone Capital Corp (GLAD) 10K Annual Reports & 10Q SEC Filings

McLean, VA, November 13, 2023: Gladstone Capital Corporation (Nasdaq: GLAD) (the “Company”) today announced earnings for its fourth quarter and fiscal year ended September 30, 2023. Please read the Company’s Annual Report on Form 10-K filed today with the U.S. Securities and Exchange Commission (the “SEC”), which is available on the SEC’s website at www.sec.gov, and the investors section of the Company’s website at www.GladstoneCapital.com.

Summary Information (dollars in thousands, except per share data) (unaudited):


For the Quarter Ended:	September 30, 2023			June 30, 2023			Change			% Change
Total investment income	$	23,756		$	22,823		$	933			4.1	%
Total expenses, net of credits		(12,769	)		(11,147	)		(1,622	)		14.6

Net investment income		10,987			11,676			(689	)		(5.9	)
Net investment income per common share		0.28			0.31			(0.03	)		(9.7	)
Cash distribution per common share^(A)		0.2675			0.24			0.0275			11.5
Net realized gain (loss)		(291	)		2,955			(3,246	)		(109.8	)
Net unrealized appreciation (depreciation)		2,404			(2,747	)		5,151			(187.5	)
Net increase (decrease) in net assets resulting from operations		13,100			11,884			1,216			10.2
Weighted average yield on interest-bearing investments		13.8	%		13.6	%		0.2	%		1.5
Total invested	$	27,393		$	70,615		$	(43,222	)		(61.2	)
Total repayments and net proceeds		41,017			35,230			5,787			16.4

As of:	September 30, 2023			June 30, 2023			Change			% Change
Total investments, at fair value	$	704,815		$	715,324		$	(10,509	)		(1.5	)%
Fair value, as a percent of cost		97.6	%		97.3	%		0.3	%		0.3
Net asset value per common share	$	9.39		$	9.27		$	0.12			1.3

^(A)	Includes a $0.02 per common share supplemental distribution paid to common stockholders in September 2023.

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The following information was filed by Gladstone Capital Corp (GLAD) on Monday, November 13, 2023 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Gladstone Capital Corp's 10-K Annual Report:

Revenue - Product Highlight
Realized Loss and Unrealized Appreciation Net Realized Gain (Loss) on Investments For the year ended September 30, 2023, we recorded a net realized gain on investments of $12.3 million, which resulted primarily from a $5.9 million realized gain recognized on the sale of our investment in Targus Cayman HoldCo, Ltd. ("Targus"), a $4.1 million realized gain recognized on our investment in Leeds Novamark Capital I, L.P. ("Leeds"), and a $3.7 million realized gain recognized on our investment in PIC 360, LLC ("PIC 360").

Financial - Shares Highlight
The base management, loan servicing and incentive fees, and associated non-contractual, unconditional and irrevocable credits, are computed quarterly, as described under "Transactions with the Adviser" in Note 4- Related Party Transactions of the Notes to Consolidated Financial Statements and are summarized in the following table: (A)Average total assets subject to the base management fee is defined as total assets, including investments made with proceeds of borrowings, less any uninvested cash or cash equivalents resulting from borrowings, valued at the end of the two most recently completed quarters within the respective years and adjusted appropriately for any share issuances or repurchases during the period.
Revenue - Product Highlight
For the year ended September 30, 2022, we recorded a net realized gain on investments of $5.4 million, which resulted primarily from a $13.4 million realized gain recognized on the sale of our investment in Lignetics, Inc. ("Lignetics"), partially offset by an $8.5 million realized loss recognized on the restructuring of our investment in LWO Acquisitions Company LLC ("LWO").
Financial - Shares Highlight
Equity Registration Statement Our shelf registration statement permits us to issue, through one or more transactions, up to an aggregate of $300.0 million in securities, consisting of common stock, preferred stock, subscription rights, debt securities and warrants to purchase common stock or preferred stock.
Other - Other
This increase was driven by...Read more
Financial - Expense
Interest expense on our Credit...Read more
Financial - Income
Consistent with GAAP, we generally...Read more
Financial - Shares
Financing Activities Net cash provided...Read more
Financial - Shares
Net cash provided by financing...Read more
Financial - Expense
Expenses Expenses, net of any...Read more
Financial - Income
Other income decreased by 62.8%...Read more
Financial - Expense
Net proceeds, after deducting commissions...Read more
Financial - Expense
The effective interest rate on...Read more
Financial - Shares
Recent Developments Distributions On October...Read more
Financial - Income
Our investment objectives are to:...Read more
Financial - Expense
This increase was primarily due...Read more
Financial - Shares
Net cash provided by financing...Read more
Revenue - Product
As of September 30, 2023,...Read more
Revenue - Product
In March 2021, we completed...Read more
Financial - Expense
In November 2021, we completed...Read more
Financial - Debt
It is the Adviser's understanding...Read more
Financial - Debt
As of September 30, 2023,...Read more
Revenue - Product
The 2027 Notes will mature...Read more
Revenue - Product
The 2026 Notes will mature...Read more
Financial - Expense
Notes Payable In August 2023,...Read more
Other - Other
The net base management fee...Read more
Other - Other
Syndicated Investments In October 2022,...Read more
Other - Other
(B)Principal balance of borrowings outstanding...Read more
Financial - Shares
Common Stock In May 2021,...Read more
Other - Other
The increase in the effective...Read more
Financial - Income
See "Risk Factors- We may...Read more
Other - Other
The 2028 Notes will mature...Read more
Financial - Expense
In December 2020, we completed...Read more
Financial - Expense
In October 2019, we completed...Read more
Financial - Debt
Regulatory Compliance Our ability to...Read more
Other - Other
The net realized gain (loss)...Read more
Financial - Shares
However, we cannot determine the...Read more
Financial - Expense
Total interest expense on borrowings...Read more
Other - Other
The weighted average balance outstanding...Read more
Other - Other
Investment Valuation Credit Monitoring and...Read more
Financial - Expense
As of September 30, 2023,...Read more

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Material Contracts, Statements, Certifications & more

Gladstone Capital Corp provided additional information to their SEC Filing as exhibits

Exhibit 4.7: Instruments Defining The Rights Of Security Holders, Including Indentures

Exhibit 14: Code Of Ethics

Exhibit 21: Subsidaries Of The Registrant

Exhibit 23.1: Consents Of Experts And Counsel

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 32.1: Section 1350 Certification

Exhibit 32.2: Section 1350 Certification

Exhibit 97.1: Ex-97.1

Ticker: GLAD
CIK: 1143513
Form Type: 10-K Annual Report
Accession Number: 0001143513-23-000013
Submitted to the SEC: Mon Nov 13 2023 4:12:25 PM EST
Accepted by the SEC: Mon Nov 13 2023
Period: Saturday, September 30, 2023
Industry: 1143513

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Gladstone Capital Corp (GLAD) SEC Filing 10-K Annual Report for the fiscal year ending Saturday, September 30, 2023

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