Q1 26 EPS
$0.24
BEAT +6.19%
Est. $0.23
Q1 26 Revenue
$23.5M
MISS 3.00%
Est. $24.3M
vs S&P Since Q1 26
-2.0%
TRAILING MARKET
GAIN +13.5% vs S&P +15.5%
Market Reaction
Did GAIN Beat Earnings? Q1 2026 Results
Gladstone Investment posted a mixed first fiscal quarter for 2026, edging past earnings expectations while falling short on revenue. The business development company reported adjusted net investment income of $0.24 per share, beating the $0.23 consen… Read more Gladstone Investment posted a mixed first fiscal quarter for 2026, edging past earnings expectations while falling short on revenue. The business development company reported adjusted net investment income of $0.24 per share, beating the $0.23 consensus estimate by 6.19%, even as total investment income of $23.54 million came in 3.00% below the $24.27 million analysts had expected. The earnings beat was driven primarily by a sharp pullback in expenses, which fell to $14.46 million from $20.32 million in the prior quarter, reflecting lower incentive fee accruals and reduced interest costs on the credit facility rather than top-line momentum. Total investment income itself declined 14.5% sequentially, weighed down by the absence of success fees and dividend income that had boosted the prior period. Net asset value per share slipped to $12.99 from $13.55, largely reflecting $28.80 million in distributions paid to shareholders. On the portfolio side, the company deployed capital into new positions while total investments at fair value grew to $1.04 billion across 27 companies.
Key Takeaways
- • Decrease in total expenses driven by lower capital gains-based incentive fee accruals and income-based incentive fees
- • Decrease in interest expense due to reduced borrowings on the credit facility
- • Collection of $1.5 million of past due interest from a portfolio company previously on non-accrual status
- • Weighted-average yield on interest-bearing investments increased to 14.1% from 13.2% in the prior quarter
GAIN YoY Financials
Q1 2026 vs Q1 2025, source: SEC Filings
GAIN Earnings Trends
GAIN vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
GAIN EPS Trend
Earnings per share: estimate vs actual
GAIN Revenue Trend
Quarterly revenue: estimate vs actual
GAIN Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q4 26 MISS FY | $0.21 | $-0.27 | -227.06% | $25.2M | -2.35% |
| FY Full Year | — | $-0.10 | — | $99.1M | — |
| Q3 26 MISS | $0.23 | $0.21 | -7.69% | $25.1M | -2.42% |
| Q2 26 BEAT | $0.23 | $0.24 | +5.26% | $25.3M | +2.85% |
| Q1 26 BEAT | $0.23 | $0.24 | +6.19% | $23.5M | -3.00% |
| Q4 25 BEAT FY | $0.23 | $0.26 | +11.11% | $27.5M | +6.39% |
| FY Full Year | $0.84 | $0.97 | +14.93% | $93.7M | +2.51% |