GAIN

EX-99.1

2 gain63026er8-kex991x8626.htm

EX-99.1

Document

Gladstone Investment Corporation Reports Financial Results for its

First Quarter Ended June 30, 2026

MCLEAN, VA, August 6, 2026: Gladstone Investment Corporation (Nasdaq: GAIN) (the "Company") today announced earnings for its first fiscal quarter ended June 30, 2026. Please read the Company's Quarterly Report on Form 10-Q, filed today with the U.S. Securities and Exchange Commission (the "SEC"), which is available on the SEC's website at www.sec.gov or the investors section of the Company's website at www.gladstoneinvestment.com.

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

June 30, 2026March 31, 2026 Change% Change

For the quarter ended:

Total investment income$28,355 $25,192 $3,163 12.6 %

Total expenses, net(A) 12,428 35,802 (23,374)(65.3)%

Net investment income (loss) (A)

15,927 (10,610)26,537 NM

Net realized (loss) gain

(9,000)163 (9,163)NM

Net unrealized (depreciation) appreciation

(18,782)92,821 (111,603)NM

Net (decrease) increase in net assets resulting from operations(A)

$(11,855)$82,374 $(94,229)NM

Net investment income (loss) per weighted-average common share(A)

$0.40 $(0.27)$0.67 NM

Adjusted net investment income per weighted-average common share(B)

$0.26 $0.20 $0.06 30.0 %

Net (decrease) increase in net assets resulting from operations per weighted-average common share(A)

$(0.30)$2.07 $(2.37)NM

Cash distribution per common share from net investment income(C) $0.24 $0.24 $— — %

Cash distribution per common share from net realized gains(C) $— $— $— — %

Weighted-average yield on interest-bearing investments

12.9 %12.9 %— %— %

Total dollars invested $600 $2,300 $(1,700)(73.9)%

Total dollars repaid and collected from sales and recapitalization of investments $— $8,513 $(8,513)(100.0)%

Weighted-average shares of common stock outstanding - basic and diluted39,821,967 39,821,967 — — %

Total shares of common stock outstanding39,821,967 39,821,967 — — %

As of:

Total investments, at fair value $1,282,020 $1,309,248 $(27,228)(2.1)%

Fair value, as a percent of cost 122.7 %124.4 %(1.7)%(1.4)%

Number of portfolio companies 29 29 — — %

Net assets $646,813 $668,225 $(21,412)(3.2)%

Net asset value per common share $16.24 $16.78 $(0.54)(3.2)%

Total distributable earnings$160,359 $181,468 $(21,109)(11.6)%

Total distributable earnings per common share$4.03 $4.56 $(0.53)(11.6)%

Estimated spillover$22,472 $21,283 $1,189 5.6 %

Estimated spillover per common share$0.56 $0.53 $0.03 5.7 %

NM = Not Meaningful

1

(A)Inclusive of $5.6 million, or $0.14 per weighted-average common share, of capital gains-based incentive fees reversed during the three months ended June 30, 2026 and an accrual of $18.5 million, or $0.47 per weighted-average common share, of capital gains-based incentive fees accrued during the three months ended March 31, 2026, respectively. These fees were accrued in accordance with United States generally accepted accounting principles (“U.S. GAAP”), where such amounts were not contractually due under the terms of the investment advisory agreement for the respective periods. Also see discussion under Non-GAAP Financial Measure – Adjusted Net Investment Income below.

(B)See Non-GAAP Financial Measure - Adjusted Net Investment Income, below, for a description of this non-GAAP measure and a reconciliation from Net investment income (loss) to Adjusted net investment income, including on a weighted-average per share basis. The Company uses this non-GAAP financial measure internally in analyzing financial results and believes it is useful to investors as an additional tool to evaluate ongoing results and trends for the Company.

(C)Estimates of tax characterization made on a quarterly basis may not be representative of the actual tax characterization of distributions for the full year. Estimates made on a quarterly basis are updated as of each interim reporting date.

Highlights for the Quarter: During the quarter ended June 30, 2026, the following significant events occurred:

•Portfolio Activity:

◦In June 2026, we entered into a new $3.0 million secured first lien term loan with Home Concepts Acquisition, Inc., restructuring our previously outstanding secured first lien term loan with a cost basis of $12.0 million, which resulted in a realized loss of $9.0 million.

◦In June 2026, we entered into a definitive agreement to acquire Extrude Hone LLC, a provider of precision surface-finishing solutions used in mission-critical applications, which is expected to close in the second fiscal quarter.

•Distributions and Dividends:

◦Paid an $0.08 per common share distribution to common stockholders in each of April, May and June 2026, totaling $0.24 for the quarter.

•Financing activity:

◦Repaid the 5.00% Notes due 2026 with an aggregate principal amount outstanding of $127.9 million at maturity.

◦Amended our credit facility, including extending the maturity date to June 8, 2031, increasing th

EX-99.1

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EX-99.1

Document

Gladstone Investment Corporation Reports Financial Results for its

Fourth Quarter and Fiscal Year Ended March 31, 2026

MCLEAN, VA, May 12, 2026: Gladstone Investment Corporation (Nasdaq: GAIN) (the "Company") today announced earnings for its fourth quarter and fiscal year ended March 31, 2026. 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 or the investors section of the Company's website at www.gladstoneinvestment.com.

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

March 31, 2026December 31, 2025$ Change% Change

For the quarter ended:

Total investment income$25,192 $25,062 $130 0.5 %

Total expenses, net(A) 35,802 31,571 4,231 13.4 %

Net investment loss(A) (10,610)(6,509)(4,101)63.0 %

Net realized gain 163 2,180 (2,017)(92.5)%

Net unrealized appreciation 92,821 70,227 22,594 32.2 %

Net increase in net assets resulting from operations(A) $82,374 $65,898 $16,476 25.0 %

Net investment loss per weighted-average common share(A)

$(0.27)$(0.16)$(0.11)68.8 %

Adjusted net investment income per weighted-average common share(B)

$0.20 $0.21 $(0.01)(4.8)%

Net increase in net assets resulting from operations per weighted-average common share(A)

$2.07 $1.66 $0.41 24.7 %

Cash distribution per common share from net investment income(C) $0.24 $0.24 $— — %

Cash distribution per common share from cumulative net realized gains(C) $— $— $— — %

Weighted-average yield on interest-bearing investments

12.9 %12.9 %— %— %

Total dollars invested $2,300 $37,438 $(35,138)(93.9)%

Total dollars repaid and/or collected from sales and

recapitalization of investments $8,513 $19,221 $(10,708)(55.7)%

Weighted-average shares of common stock outstanding - basic and diluted39,821,967 39,678,402 143,565 0.4 %

Total shares of common stock outstanding39,821,967 39,821,967 — — %

As of:

Total investments, at fair value $1,309,248 $1,222,792 $86,456 7.1 %

Fair value, as a percent of cost 124.4 %115.5 %8.9 %7.7 %

Number of portfolio companies 29 29 — — %

Net assets $668,225 $595,408 $72,817 12.2 %

Net asset value per common share $16.78 $14.95 $1.83 12.2 %

Total distributable earnings$181,468 $108,702 $72,766 66.9 %

Total distributable earnings per common share$4.56 $2.73 $1.83 67.0 %

Estimated spillover$21,283 $22,943 $(1,660)(7.2)%

Estimated spillover per common share$0.53 $0.58 $(0.05)(8.6)%

1

March 31, 2026March 31, 2025$ Change% Change

For the year ended:

Total investment income$99,077 $93,662 $5,415 5.8 %

Total expenses, net(A) 102,829 65,567 37,262 56.8 %

Net investment (loss) income(A)

(3,752)28,095 (31,847)NM

Net realized (loss) gain

(27,595)63,184 (90,779)NM

Net unrealized appreciation (depreciation)

216,100 (25,960)242,060 NM

Net increase in net assets resulting from operations(A) $184,753 $65,319 $119,434 182.8 %

Net investment (loss) income per weighted-average common share(A)

$(0.10)$0.76 $(0.86)NM

Adjusted net investment income per weighted-average common share(B)

$0.88 $0.97 $(0.09)(9.3)%

Net increase in net assets resulting from operations per weighted-average common share(A)

$4.77 $1.78 $2.99 168.0 %

Cash distribution per common share from net investment income(C) $0.99 $0.64 $0.35 54.7 %

Cash distribution per common share from cumulative net realized gains(C) $0.51 $1.02 $(0.51)(50.0)%

Weighted-average yield on interest-bearing investments

13.3 %13.9 %(0.6)%(4.2)%

Total dollars invested $173,616 $221,217 $(47,601)(21.5)%

Total dollars repaid and/or collected from sales and

recapitalization of investments $33,540 $199,625 $(166,085)(83.2)%

Weighted-average shares of common stock outstanding - basic and diluted38,712,611 36,735,218 1,977,393 5.4 %

Total shares of common stock outstanding39,821,967 36,837,381 2,984,586 8.1 %

As of:

Total investments, at fair value $1,309,248 $979,320 $329,928 33.7 %

Fair value, as a percent of cost 124.4 %104.3 %20.1 %19.3 %

Number of portfolio companies 29 25 4 16.0 %

Net assets $668,225 $499,084 $169,141 33.9 %

Net asset value per common share $16.78 $13.55 $3.23 23.8 %

Total distributable earnings$181,468 $53,535 $127,933 239.0 %

Total distributable earnings per common share$4.56 $1.45 $3.11 214.5 %

Estimated spillover$21,283 $55,337 $(34,054)(61.5)%

Estimated spillover per common share$0.53 $1.50 $(0.97)(64.7)%

NM = Not Meaningful

(A)Inclusive of $18.5 million, or $0.47 per weighted-average common share, and $14.7 million, or $0.37 per weighted-average common share, of capital gains-based incentive fees accrued during the three months ended March 31, 2026 and December 31, 2025, respectively; and $38.0 million, or $0.98 per weighted-average common share, and $7.4 million, or $0.21 per weighted-average common share, of capital-gains based incentive fees accrued during the years ended March 31, 2026 and March 31, 20

EX-99.1

2 gain123125er8-kex991x2326.htm

EX-99.1

Document

Gladstone Investment Corporation Reports Financial Results for its

Third Quarter Ended December 31, 2025

MCLEAN, VA, February 3, 2026: Gladstone Investment Corporation (Nasdaq: GAIN) (the "Company") today announced earnings for its third fiscal quarter ended December 31, 2025. Please read the Company's Quarterly Report on Form 10-Q, filed today with the U.S. Securities and Exchange Commission (the "SEC"), which is available on the SEC's website at www.sec.gov or the investors section of the Company's website at www.gladstoneinvestment.com.

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

December 31, 2025September 30, 2025 Change% Change

For the quarter ended:

Total investment income$25,062 $25,279 $(217)(0.9)%

Total expenses, net(A) 31,571 21,000 10,571 50.3 %

Net investment (loss) income(A)

(6,509)4,279 (10,788)NM

Net realized gain (loss)

2,180 (29,938)32,118 NM

Net unrealized appreciation 70,227 54,368 15,859 29.2 %

Net increase in net assets resulting from operations(A) $65,898 $28,709 $37,189 129.5 %

Net investment (loss) income per weighted-average common share(A)

$(0.16)$0.11 $(0.27)NM

Adjusted net investment income per weighted-average common share(B)

$0.21 $0.24 $(0.03)(12.5)%

Net increase in net assets resulting from operations per weighted-average common share(A)

$1.66 $0.75 $0.91 121.3 %

Cash distribution per common share from net investment income(C) $0.24 $0.24 $— — %

Cash distribution per common share from net realized gains(C) $— $— $— — %

Weighted-average yield on interest-bearing investments

12.9 %13.4 %(0.5)%(3.7)%

Total dollars invested $37,438 $71,036 $(33,598)(47.3)%

Total dollars repaid and collected from sales and recapitalization of investments

$19,221 $1,436 $17,785 NM

Weighted-average shares of common stock outstanding - basic and diluted39,678,402 38,445,643 1,232,759 3.2 %

Total shares of common stock outstanding39,821,967 39,591,037 230,930 0.6 %

As of:

Total investments, at fair value $1,222,792 $1,130,859 $91,933 8.1 %

Fair value, as a percent of cost 115.5 %109.0 %6.5 %6.0 %

Number of portfolio companies 29 28 1 3.6 %

Net assets $595,408 $535,843 $59,565 11.1 %

Net asset value per common share $14.95 $13.53 $1.42 10.5 %

Total distributable earnings$108,702 $52,249 $56,453 108.0 %

Total distributable earnings per common share$2.73 $1.32 $1.41 106.8 %

Estimated spillover$22,943 $25,435 $(2,492)(9.8)%

Estimated spillover per common share$0.58 $0.64 $(0.06)(9.4)%

NM = Not Meaningful

1

(A)Inclusive of $14.7 million, or $0.37 per weighted-average common share, of capital gains-based incentive fees accrued during the three months ended December 31, 2025 and $4.9 million, or $0.13 per weighted-average common share, of capital gains-based incentive fees accrued during the three months ended September 30, 2025, respectively. These fees were accrued in accordance with United States generally accepted accounting principles (“U.S. GAAP”), where such amounts were not contractually due under the terms of the investment advisory agreement for the respective periods. Also see discussion under Non-GAAP Financial Measure – Adjusted Net Investment Income below.

(B)See Non-GAAP Financial Measure - Adjusted Net Investment Income, below, for a description of this non-GAAP measure and a reconciliation from Net investment (loss) income to Adjusted net investment income, including on a weighted-average per share basis. The Company uses this non-GAAP financial measure internally in analyzing financial results and believes it is useful to investors as an additional tool to evaluate ongoing results and trends for the Company.

(C)Estimates of tax characterization made on a quarterly basis may not be representative of the actual tax characterization of distributions for the full year. Estimates made on a quarterly basis are updated as of each interim reporting date.

Highlights for the Quarter: During the quarter ended December 31, 2025, the following significant events occurred:

•Portfolio Activity:

◦In December 2025, we invested $33.1 million in a new portfolio company, Rowan Energy Inc. (“Rowan”), in the form of $25.8 million of secured first lien debt and $7.3 million of preferred equity. Rowan, headquartered in Oklahoma, specializes in advanced frac sand filtration, completion-equipment deployment and field-operations support.

•Distributions and Dividends:

◦Paid an $0.08 per common share distribution to common stockholders in each of October, November and December 2025.

•At-the-market (“ATM”) Program Activity:

◦Sold 230,930 shares of our common stock under our common stock ATM program at a weighted-average gross price of $14.03 per share and raised approximately $3.2 million in net proceeds. These sales were above our then-current NAV per share.

•Financing activity:

◦Issued 6.875% Notes due 2028 with a total principal amount of $60.0 million.

◦Amended our credit facil