GLAD

EX-99.1

2 d115483dex991.htm

EX-99.1

EX-99.1

Exhibit 99.1

Gladstone Capital Corporation Reports Financial Results for its

Third Quarter Ended June 30, 2026

McLean, VA, August 4, 2026: Gladstone Capital Corporation (Nasdaq: GLAD) (the “Company”) today announced earnings for its third 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 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:

June 30, 2026

March 31, 2026

Change

% Change

Total interest income

$ 24,294

$ 23,196

$ 1,098

4.7 %

Total other income

201

2,796

(2,595 )

(92.8 )

Total expenses, net of credits

(13,490 )

(14,154 )

664

(4.7 )

Net investment income

11,005

11,838

(833 )

(7.0 )

Net investment income per common share

0.49

0.52

(0.03 )

(5.8 )

Cash distribution per common share

0.45

0.45

0.00

0.0

Net realized gain (loss)

(20 )

(570 )

550

(96.5 )

Net unrealized appreciation (depreciation)

3,014

4,779

(1,765 )

(36.9 )

Net increase (decrease) in net assets resulting from operations

13,270

15,459

(2,189 )

(14.2 )

Weighted average yield on interest-bearing investments

11.8 %

11.8 %

0.0 %

0.0

Total invested

$ 82,090

$ 43,560

$ 38,530

88.5

Total repayments and net proceeds

40,226

46,306

(6,080 )

(13.1 )

As of:

June 30, 2026

March 31, 2026

Change

% Change

Total investments, at fair value

$ 953,326

$ 906,844

$ 46,482

5.1 %

Fair value, as a percent of cost

98.4 %

98.0 %

0.4 %

0.4

Net asset value per common share

$ 21.50

$ 21.36

$ 0.14

0.7

Third Fiscal Quarter 2026 Highlights:

•

Portfolio Activity: Invested $66.7 million in four new portfolio companies and $15.4 million in existing portfolio companies contributing to the net originations of $41.9 million.

•

Portfolio Yield: Maintained portfolio weighted average yield at 11.8% despite asset turnover contributing to increased net interest income.

•

Portfolio Performance: Net portfolio appreciation of $3.0 million ($0.13/share) as strong performers outnumbered decliners which included an increase in non-earning investments to five companies or $26.7 million or 3.1% of debt investments at fair value.

•

Expanded Capital Base: Closed on $60.0 million 7% note issue due December 2029 expanding Bank Line availability to more than $170 million.

-1-

Third Fiscal Quarter 2026 Results:

Interest income increased by $1.1 million, or 4.7%, for the quarter ended June 30, 2026, compared to the prior quarter ended March 31, 2026, driven primarily by an increase in the weighted average principal balance of our interest-bearing investment portfolio to $822.4 million during the quarter ended June 30, 2026, as compared to $794.0 million during the quarter ended March 31, 2026, an increase of $28.4 million, or 3.6%.

Other income decreased by $2.6 million quarter over quarter due to a one-time dividend and prepayment fee income received in the prior quarter versus no such amounts during the quarter ended June 30, 2026.

Total expenses decreased by $0.7 million, or 4.7%, quarter over quarter primarily due to a $0.8 million decrease in the net base management fee, driven by increased deal origination fees which are credited to the base management fee, and a $0.2 million decrease in the gross incentive fee, driven by lower pre-incentive fee net investment income quarter over quarter. These decreasing factors were offset by a $0.6 million increase in interest expense quarter over quarter. Interest expense on our Credit Facility increased $0.3 million quarter over quarter due to a $22.3 million increase in the weighted average balance outstanding, driven by new deal activity in the current quarter. Interest expense on our notes payable increased by $0.3 million quarter over quarter due to the issuance of our 7.0% Notes due 2029 in June 2026.

Net investment income for the quarter ended June 30, 2026 was $11.0 million, or $0.49 per share.

The net increase in net assets resulting from operations was $13.3 million, or $0.59 per share, for the quarter ended June 30, 2026, compared to $15.5 million, or $0.68 per share, for the quarter ended March 31, 2026. The current quarter increase in net assets resulting from operations was primarily driven by $11.0 million of net investment income and $3.0 million of net unrealized appreciation during the quarter.

Subsequent Events: Subsequent to June 30, 2026, the following significant events occurred:

•

Portfolio Activity:

•

In July 2026, our debt investment in Pan-Am Dental, LLC (“Pan-Am”) was refinanced. Our existing debt investment totaling $23.0 million was repaid at par, and we invested a total of $25.7 million in Pan-Am through new secured first lien debt and additional equity.

•

In July 2026, our invest

EX-99.1

2 d122338dex991.htm

EX-99.1

EX-99.1

Exhibit 99.1

Gladstone Capital Corporation Reports Financial Results for its

Second Quarter Ended March 31, 2026

McLean, VA, May 6, 2026: Gladstone Capital Corporation (Nasdaq: GLAD) (the “Company”) today announced earnings for its second quarter ended March 31, 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 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:

March 31, 2026

December 31, 2025

Change

% Change

Total investment income

$ 25,992

$ 24,511

$ 1,481

6.0 %

Total expenses, net of credits

(14,154 )

(13,247 )

(907 )

6.8

Net investment income

11,838

11,264

574

5.1

Net investment income per common share

0.52

0.50

0.02

4.0

Cash distribution per common share

0.45

0.45

0.00

0.0

Net realized gain (loss)

(570 )

296

(866 )

NM

Net unrealized appreciation (depreciation)

4,779

(5,638 )

10,417

NM

Net increase (decrease) in net assets resulting from operations

15,459

5,454

10,005

183.4

Weighted average yield on interest-bearing investments

11.8 %

12.2 %

(0.4 )%

(3.3 )

Total invested

$ 43,560

$ 99,164

$ (55,604 )

(56.1 )

Total repayments and net proceeds

46,306

52,759

(6,453 )

(12.2 )

As of:

March 31, 2026

December 31, 2025

Change

% Change

Total investments, at fair value

$ 906,844

$ 902,912

$ 3,932

0.4 %

Fair value, as a percent of cost

98.0 %

97.5 %

0.5 %

0.5

Net asset value per common share

$ 21.36

$ 21.13

$ 0.23

1.1

NM – not meaningful

Second Fiscal Quarter 2026 Highlights:

•

Portfolio Activity: Invested $34.0 million in three new portfolio companies and $9.6 million in existing portfolio companies offsetting a large prepayment early in the period.

•

Net Investment Income: Prepayment fees and equity distributions more than offset lower SOFR rates lifting net investment income by 5.1%.

•

Portfolio Appreciation: The operating performance and scale of several equity positions more than offset any loan market valuation movements contributing to the $0.23 share increase in NAV per share.

-1-

Second Fiscal Quarter 2026 Results:

Total investment income increased by $1.5 million, or 6.0%, for the quarter ended March 31, 2026, compared to the prior quarter ended December 31, 2025, driven primarily by a $2.2 million increase in other income, quarter over quarter, partially offset by a $0.7 million decrease in interest income, quarter over quarter. The decrease in interest income was driven mainly by a decrease in the weighted average yield to 11.8% during the quarter ended March 31, 2026, as compared to 12.2% during the quarter ended December 31, 2025 (due primarily to a decrease in average SOFR). This decreasing factor was offset by an increase in the weighted average principal balance of our interest-bearing investment portfolio to $794.0 million during the quarter ended March 31, 2026, as compared to $772.3 million during the quarter ended December 31, 2025, an increase of $21.7 million, or 2.8%. Other income increased by $2.2 million, or 354.6%, quarter over quarter primarily due to increases in dividend income and prepayment fee income, quarter over quarter.

Total expenses increased by $0.9 million, or 6.8%, quarter over quarter, primarily due to a $0.8 million increase in the net base management fee, driven by higher assets used to calculate the base management fee and lower deal origination fees which are credited to the base management fee.

Net investment income for the quarter ended March 31, 2026 was $11.8 million, or $0.52 per share.

The net increase in net assets resulting from operations was $15.5 million, or $0.68 per share, for the quarter ended March 31, 2026, compared to $5.5 million, or $0.24 per share, for the quarter ended December 31, 2025. The current quarter increase in net assets resulting from operations was primarily driven by $11.8 million of net investment income and $4.8 million of net unrealized appreciation, partially offset by $0.6 million of net realized loss recognized during the quarter.

Subsequent Events: Subsequent to March 31, 2026, the following significant events occurred:

•

Portfolio Activity:

•

In April 2026, we invested $12.7 million in OneSource HoldCo LLC (“OneSource”) through secured first lien debt and common equity. We also extended OneSource a $2.0 million line of credit commitment, of which $1.0 million was funded at close.

•

In April 2026, we invested $32.5 million in SWECO Worldwide, Inc. (“SWECO”) through secured first lien debt and common equity. We also extended SWECO a $6.0 million line of credit commitment, which was unfunded at close.

•

Distributions and Dividends Declared:

•

In April 2026, our Board of Directors declared the following distribut

EX-99.1

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EX-99.1

EX-99.1

Exhibit 99.1

Gladstone Capital Corporation Reports Financial Results for its

First Quarter Ended December 31, 2025

McLean, VA, February 4, 2026: Gladstone Capital Corporation (Nasdaq: GLAD) (the “Company”) today announced earnings for its first 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 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:

December 31, 2025

September 30, 2025

Change

% Change

Total investment income

$ 24,511

$ 23,936

$ 575

2.4 %

Total expenses, net of credits

(13,247 )

(12,492 )

(755 )

6.0

Net investment income

11,264

11,444

(180 )

(1.6 )

Net investment income per common share

0.50

0.52

(0.02 )

(3.8 )

Cash distribution per common share

0.45

0.59

(0.14 )

(23.7 )

Net realized gain (loss)

296

(6,258 )

6,554

(104.7 )

Net unrealized appreciation (depreciation)

(5,638 )

9,101

(14,739 )

(161.9 )

Net increase (decrease) in net assets resulting from operations

5,454

13,971

(8,517 )

(61.0 )

Weighted average yield on interest-bearing investments

12.2 %

12.5 %

(0.3 )%

(2.4 )

Total invested

$ 99,164

$ 126,633

$ (27,469 )

(21.7 )

Total repayments and net proceeds

52,759

23,495

29,264

124.6

As of:

December 31, 2025

September 30, 2025

Change

% Change

Total investments, at fair value

$ 902,912

$ 859,124

$ 43,788

5.1 %

Fair value, as a percent of cost

97.5 %

98.0 %

(0.5 )%

(0.5 )

Net asset value per common share

$ 21.13

$ 21.34

$ (0.21 )

(1.0 )

First Fiscal Quarter 2026 Highlights:

•

Portfolio Activity: Invested $37.8 million in two new portfolio companies and $61.3 million in existing portfolio companies.

•

Portfolio Mix: Secured first lien assets continue to be over 70% of our debt investments, at cost.

•

Credit Facility: Increased our revolving line of credit commitment by $20.0 million.

First Fiscal Quarter 2026 Results:

Total investment income increased by $0.6 million, or 2.4%, for the quarter ended December 31, 2025, compared to the prior quarter ended September 30, 2025, driven primarily by a $0.1 million increase in interest income, quarter over quarter, and $0.4 million increase in other income. Interest income increased by $0.1 million, or 0.5%, quarter over quarter. The primary reason for the increase was an increase in the weighted average principal balance of our interest-bearing investment portfolio to $772.3 million during the quarter

-1-

ended December 31, 2025, as compared to $752.0 million during the quarter ended September 30, 2025, an increase of $20.3 million, or 2.7%. This increasing factor was offset by a decrease in the weighted average yield to 12.2% during the quarter ended December 31, 2025 as compared to 12.5% during the quarter ended September 30, 2025 (primarily due to a decrease in average SOFR). Other income increased by $0.4 million, or 270.5%, quarter over quarter primarily due to increases in prepayment fee income and success fees received quarter over quarter.

Total expenses increased by $0.8 million, or 6.0%, quarter over quarter, primarily due to a $0.7 million increase in the net base management fee, driven by higher assets used to calculate the base management fee and lower deal origination fees, which are credited to the base management fee.

Net investment income for the quarter ended December 31, 2025 was $11.3 million, or $0.50 per share.

The net increase in net assets resulting from operations was $5.5 million, or $0.24 per share, for the quarter ended December 31, 2025, compared to $14.0 million, or $0.63 per share, for the quarter ended September 30, 2025. The current quarter increase in net assets resulting from operations was primarily driven by $11.3 million of net investment income and $0.3 million of net realized gain recognized during the quarter, partially offset by $5.6 million of net unrealized depreciation.

Subsequent Events: Subsequent to December 31, 2025, the following significant events occurred:

•

Portfolio Activity:

•

In January 2026, our $42.8 million debt investment in Vet’s Choice Radiology LLC paid off at par. We also received a $0.9 million prepayment penalty in conjunction with the payoff.

•

In January 2026, we invested $6.0 million in IMX Power Holdings Inc. (“IMX”) through secured first lien debt. We also extended IMX a $1.5 million line of credit commitment and a $3.0 million delayed draw term loan commitment, both of which were unfunded at close.

•

Revolving Line of Credit:

•

On February 3, 2026, we entered into Amendment No. 11 to our credit facility to increase the total commitment by $25.0 million.

•

Distributions and Dividends Declared:

•

In January 2026, our Board of Directors de