Gladstone Investment Q1 NII $0.34/share, total investment income down 6% on non-accruals

GLADSTONE INVESTMENT CORPORATION\DE

2025-Q1 EPS reported $0.34

Net investment income $12.4M ($0.34/share) vs $5.3M ($0.15) prior quarter; adjusted NII $0.24/share unchanged.
Total investment income $22.2M, down 6.2% YoQ due to $0.8M drop in interest from non-accrual loans and $0.7M less success fees.
NAV per share fell to $13.01 from $13.43, driven by $18.9M net unrealized depreciation and $8.8M distributions.
Quarterly distributions declared at $0.08/month; post-quarter added $18.5M first-lien debt in Nocturne Luxury Villas.
Portfolio exited Funko in May for $21K cost return and $2K realized gain; portfolio companies decreased to 23.

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