Gladstone Capital Corp Files 10-Q for Q3 2024

TL;DR

GLAD's Q3 2024 10-Q is in: investments detailed, related parties disclosed.

AI Summary

Gladstone Capital Corporation (GLAD) filed its 10-Q for the period ending December 31, 2024. The company reported its financial position, including investments in unaffiliated, affiliated non-controlled, and affiliated controlled issuers. It also disclosed its relationships with related parties such as The Adviser and The Administrator.

Why It Matters

This filing provides investors with a detailed look at Gladstone Capital's financial health and investment portfolio as of the end of the third quarter of fiscal year 2024.

Risk Assessment

Risk Level: medium — The filing details financial performance and investment strategies, which inherently carry market and credit risks for investors.

Key Numbers

• N/A — Total Assets (Specific asset figures are not detailed in the provided snippet.)
• N/A — Total Liabilities (Specific liability figures are not detailed in the provided snippet.)
• N/A — Net Income (Specific net income figures are not detailed in the provided snippet.)

Key Players & Entities

• GLADSTONE CAPITAL CORP (company) — Filer
• 2024-12-31 (date) — Reporting Period End Date
• The Adviser (company) — Related Party
• The Administrator (company) — Related Party

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-20241231.htm (10-Q) — 2853KB
• glad-20241231x10qex311.htm (EX-31.1) — 8KB
• glad-20241231x10qex312.htm (EX-31.2) — 8KB
• glad-20241231x10qex321.htm (EX-32.1) — 4KB
• glad-20241231x10qex322.htm (EX-32.2) — 4KB
• exhibit991-123124.htm (EX-99.1) — 2KB
• 0001143513-25-000005.txt ( ) — 14433KB
• glad-20241231.xsd (EX-101.SCH) — 76KB
• glad-20241231_cal.xml (EX-101.CAL) — 73KB
• glad-20241231_def.xml (EX-101.DEF) — 478KB
• glad-20241231_lab.xml (EX-101.LAB) — 752KB
• glad-20241231_pre.xml (EX-101.PRE) — 586KB
• glad-20241231_htm.xml (XML) — 3134KB

Financial Statements (Unaudited)

Financial Statements (Unaudited) Consolidated Statements of Assets and Liabilities as of December 31 , 202 4 and September 30, 202 4 2 Consolidated Statements of Operations for the three months ended December 31, 202 4 and 202 3 3 Consolidated Statements of Changes in Net Assets for the three months ended December 31 , 202 4 and 202 3 4 Consolidated Statements of Cash Flows for the three months ended December 31 , 202 4 and 202 3 5 Consolidated Schedules of Investments as of December 31, 202 4 and September 30, 202 4 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 42 Overview 42 Results of Operations 46 Liquidity and Capital Resources 50 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 57 Item 4.

Controls and Procedures

Controls and Procedures 57 PART II. OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 58 Item 1A.

Risk Factors

Risk Factors 58 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 58 Item 3. Defaults Upon Senior Securities 58 Item 4. Mine Safety Disclosures 58 Item 5. Other Information 58 Item 6. Exhibits 58

SIGNATURES

SIGNATURES 61 1 Table of Contents

Financial information

Part I. Financial information Item I Financial Statements (Unaudited) GLADSTONE CAPITAL CORPORATION CONSOLIDATED STATEMENTS OF ASSETS AND LIABILITIES (DOLLAR AMOUNTS IN THOUSANDS, EXCEPT PER SHARE AMOUNTS) (UNAUDITED) December 31, 2024 September 30, 2024 ASSETS Investments, at fair value: Non-Control/Non-Affiliate investments (Cost of $ 756,684 and $ 716,481 , respectively) $ 749,962 $ 750,904 Affiliate investments (Cost of $ 21,746 and $ 16,746 , respectively) 12,405 7,438 Control investments (Cost of $ 37,710 and $ 37,784 , respectively) 37,130 37,918 Cash and cash equivalents 1,736 2,172 Restricted cash and cash equivalents 140 132 Interest receivable, net 5,489 5,923 Due from administrative agent 3,262 2,802 Deferred financing costs, net 801 1,053 Other assets, net 4,700 4,126 TOTAL ASSETS $ 815,625 $ 812,468 LIABILITIES Line of credit at fair value (Cost of $ 61,500 and $ 70,600 , respectively) $ 61,500 $ 70,600 Notes payable, net of unamortized deferred financing costs of $ 2,739 and $ 2,990 , respectively 254,261 254,010 Accounts payable and accrued expenses 1,701 1,230 Interest payable 4,278 2,916 Fees due to Adviser (A) 2,236 3,889 Fee due to Administrator (A) 679 569 Other liabilities 558 513 TOTAL LIABILITIES $ 325,213 $ 333,727 Commitments and contingencies (B) Preferred stock, $ 0.001 par value per share, 6,000,000 and 6,000,000 shares authorized, respectively, and 450,325 and 349,931 shares issued and outstanding, respectively $ 10,096 $ 7,846 NET ASSETS Common stock, $ 0.001 par value per share, 44,000,000 and 44,000,000 shares authorized, respectively, and 22,329,852 and 22,230,587 shares issued and outstanding, respectively $ 44 $ 44 Capital in excess of par value 494,628 492,305 Cumulative net unrealized appreciation (depreciation) of investments ( 16,643 ) 25,249 Under distributed net investment income 5,716 6,144 Accumulated net realized losses ( 3,429 ) ( 52,847 ) Total distributable loss ( 14,356

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View this 10-Q filing on SEC EDGAR