Gladstone Investment Corporation

Gladstone Investment delivered a strong beat to close out fiscal 2025, with adjusted earnings per share of $0.26 topping the $0.23 consensus estimate by 13.04% and revenue of $27.55 million edging past the $27.23 million forecast by 1.17%, even as total investment income slipped 2.8% from the year-ago period. The standout driver was the company's exit of its Nocturne Luxury Villas investment, which generated $3.50 million in success fee income and a $19.80 million realized gain on preferred equity, while also triggering repayment of $85.60 million in debt at par. That single transaction powered a 28.9% sequential surge in total investment income and lifted net investment income to $7.23 million from just $1.16 million in Q3. NAV per share climbed to $13.55, up from $13.30 sequentially, and the board subsequently declared a $0.78 per share distribution for the coming quarter, including a $0.54 supplemental payment scheduled for June 13, 2025.