Gladstone Capital Corp Q3 2024 10-Q Filing

TL;DR

GLAD's Q3 10-Q is in: portfolio details and financials updated.

AI Summary

Gladstone Capital Corporation (GLAD) filed its 10-Q for the period ending June 30, 2024. The company reported its financial position, including investments in unaffiliated and affiliated issuers. Key financial data and operational details for the third quarter of fiscal year 2024 are presented.

Why It Matters

This filing provides investors with an update on Gladstone Capital's financial health and investment portfolio performance, crucial for assessing its current value and future prospects.

Risk Assessment

Risk Level: medium — As a business development company, Gladstone Capital's investments are subject to market and credit risks, which can impact its financial performance.

Key Numbers

• 0930 — Fiscal Year End (Indicates the end of the company's fiscal year.)
• 2024-06-30 — Period End Date (The date through which financial information is reported.)
• 2023-09-30 — Prior Fiscal Year End (Provides a comparison point for financial performance.)

Key Players & Entities

• Gladstone Capital Corporation (company) — Filer of the 10-Q
• 2024-06-30 (date) — End of the reporting period
• 2024-08-07 (date) — Filing date
• 1521 WESTBRANCH DRIVE, SUITE 100, MCLEAN, VA 22102 (address) — Company's business and mailing address

FAQ

Key Financial Figures

• $0.001 — ange on Which Registered Common Stock, $0.001 par value per share GLAD The Nasdaq Sto

Filing Documents

• glad-20240630.htm (10-Q) — 3406KB
• glad-2024630x10qex311.htm (EX-31.1) — 8KB
• glad-2024630x10qex312.htm (EX-31.2) — 8KB
• glad-2024630x10qex321.htm (EX-32.1) — 4KB
• glad-2024630x10qex322.htm (EX-32.2) — 4KB
• glad-2024630x10qex991.htm (EX-99.1) — 2KB
• 0001143513-24-000008.txt ( ) — 15679KB
• glad-20240630.xsd (EX-101.SCH) — 77KB
• glad-20240630_cal.xml (EX-101.CAL) — 69KB
• glad-20240630_def.xml (EX-101.DEF) — 495KB
• glad-20240630_lab.xml (EX-101.LAB) — 760KB
• glad-20240630_pre.xml (EX-101.PRE) — 588KB
• glad-20240630_htm.xml (XML) — 3602KB

Financial Statements (Unaudited)

Financial Statements (Unaudited) Consolidated Statements of Assets and Liabilities as of June 30 , 2024 and September 30, 202 3 2 Consolidated Statements of Operations for the three and nine months ended J une 30 , 2024 and 202 3 3 Consolidated Statements of Changes in Net Assets for the nine months ended June 30 , 202 4 and 202 3 4 Consolidated Statements of Cash Flows for the nine months ended June 30 , 202 4 and 202 3 5 Consolidated Schedules of Investments as of June 30 , 2024 and September 30, 202 3 6

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements 18 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 44 Overview 44 Results of Operations 48 Liquidity and Capital Resources 56 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 63 Item 4.

Controls and Procedures

Controls and Procedures 64 PART II. OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 65 Item 1A.

Risk Factors

Risk Factors 65 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 65 Item 3. Defaults Upon Senior Securities 65 Item 4. Mine Safety Disclosures 65 Item 5. Other Information 65 Item 6. Exhibits 65

SIGNATURES

SIGNATURES 68 1 Table of Contents

Financial information

Part I. Financial information

Financial Statements (Unaudited)

Item 1 Financial Statements (Unaudited) GLADSTONE CAPITAL CORPORATION CONSOLIDATED STATEMENTS OF ASSETS AND LIABILITIES (DOLLAR AMOUNTS IN THOUSANDS, EXCEPT PER SHARE AMOUNTS) (UNAUDITED) June 30, 2024 September 30, 2023 ASSETS Investments, at fair value: Non-Control/Non-Affiliate investments (Cost of $ 700,125 and $ 671,397 , respectively) $ 710,261 $ 663,544 Affiliate investments (Cost of $ 16,746 and $ 16,746 , respectively) 9,892 10,421 Control investments (Cost of $ 36,392 and $ 34,126 , respectively) 37,592 30,850 Cash and cash equivalents 1,136 1,306 Restricted cash and cash equivalents 110 95 Interest receivable, net 5,339 6,100 Due from administrative agent 5,922 2,936 Deferred financing costs, net 1,150 1,335 Other assets, net 3,686 2,911 TOTAL ASSETS $ 775,088 $ 719,498 LIABILITIES Line of credit at fair value (Cost of $ 65,800 and $ 47,800 , respectively) $ 65,800 $ 47,800 Notes payable, net of unamortized deferred financing costs of $ 3,126 and $ 3,886 , respectively 253,874 253,114 Accounts payable and accrued expenses 986 1,006 Interest payable 4,296 2,956 Fees due to Adviser (A) 4,163 3,872 Fee due to Administrator (A) 831 479 Other liabilities 465 1,576 TOTAL LIABILITIES $ 330,415 $ 310,803 Commitments and contingencies (B) Preferred Stock, $ 0.001 par value per share, 6,000,000 and 6,000,000 shares authorized, respectively, and 249,517 and 0 shares issued and outstanding, respectively $ 5,595 $ — NET ASSETS Common stock, $ 0.001 par value per share, 44,000,000 and 44,000,000 shares authorized, respectively, and 21,754,449 and 21,754,449 shares issued and outstanding, respectively (C) $ 44 $ 44 Capital in excess of par value 481,478 481,480 Cumulative net unrealized appreciation (depreciation) of investments 4,482 ( 17,454 ) Under (over) distributed net investment income 6,140 4,741 Accumulated net realized losses ( 53,066 ) ( 60,116 ) Total distributable loss ( 42,444 ) ( 72,829 ) TOTAL NET ASSETS $ 4

View Full Filing

View this 10-Q filing on SEC EDGAR