The following is a summary of the Gladstone Capital (GLAD) Q2 2024 Earnings Call Transcript:

Financial Performance:

• Gladstone Capital reported Q2 fundings of $45 million, with net originations amounting to $30 million.

• The weighted average yield on their investment portfolio remained largely unchanged at 14%.

• Total interest income for the quarter increased by 3% to $23.7 million.

• Net investment income declined 9.7% to $10.8 million, while net realized gains increased to $2.2 million.

• Net realized and unrealized gains on the portfolio totalled $12.9 million, boosting ROE for the quarter to 22.3% and 17% for the preceding 12 months.

Business Progress:

• Senior debt made up 71% of Gladstone Capital's portfolio which reached $800 million, an increase of over 37% in the past 2 years.

• The company ended Q2 with a conservative leverage around 89% of NAV and ample availability under its bank credit facility.

• After the quarter, the company made a $7.3 million investment in a new proprietary investment, including senior debt and preferred equity.

• The monthly distributions to common shareholders were set at $0.165 per common share for the months of April, May, and June.

More details: Gladstone Capital IR

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