Gladstone Capital Corporation Quarterly report [Sections 13 or 15(d)]

Quarterly report [Sections 13 or 15(d)]

FINANCIAL HIGHLIGHTS (Tables)

FINANCIAL HIGHLIGHTS (Tables)

6 Months Ended

Mar. 31, 2026

Schedule of Investment Company, Financial Highlights


	Six Months Ended March 31,
		2026			2025
Per Common Share Data:
Net asset value at beginning of period(A)		$	21.34		$	21.18
Income from operations(B)
Net investment income		1.02			1.00
Net realized and unrealized gain (loss) on investments		0.03			0.61
Net realized and unrealized gain (loss) on other		(0.08)			(0.01)
Preferred stock dividends		(0.05)			—
Total from operations		0.92			1.60
Distributions to common stockholders from(B)(C)
Net investment income		(0.87)			(1.00)
Realized gains		(0.03)			(0.40)
Total distributions		(0.90)			(1.40)
Capital share transactions(B)
Anti-dilutive effect of common stock issuance(D)		—			0.02
Total capital share transactions		—			0.02
Other, net		—			0.01
Net asset value at end of period(A)		$	21.36		$	21.41
Per common share market value at beginning of period		$	21.87		$	24.05
Per common share market value at end of period		17.35			27.46
Total return(E)		(16.93)		%	20.06		%
Common stock outstanding at end of period(A)		22,593,069			22,329,852
Statement of Assets and Liabilities Data:
Net assets at end of period		$	482,614		$	478,059
Average net assets(F)		481,504			480,458
Senior Securities Data:
Borrowings under line of credit, at cost		199,800			25,100
Preferred Stock		39,620			13,080
Notes Payable		199,500			257,000
Ratios/Supplemental Data:
Ratio of net expenses to average net assets – annualized(G)(H)		11.38		%	8.77		%
Ratio of net investment income to average net assets – annualized(I)		9.60		%	9.35		%

(A) Based on actual shares outstanding at the end of the corresponding period.

(B) Based on weighted average basic per share data.

(C) The tax character of distributions is determined based on taxable income calculated in accordance with income tax regulations, which may differ from amounts determined under GAAP.

(D) During the six months ended March 31, 2025, the anti-dilution was a result of issuing common shares during the period at a price above the then current NAV per share.

(E) Total return equals the change in the ending market value of our common stock from the beginning of the fiscal year, taking into account distributions reinvested in accordance with the terms of our dividend reinvestment plan. Total return does not take into account distributions that may be characterized as a return of capital. For further information on the estimated character of our distributions to common stockholders, refer to Note 9—Distributions to Common Stockholders.

(F) Computed using the average of the balance of net assets at the end of each month of the reporting period.

(G) Ratio of net expenses to average net assets is computed using total expenses, net of credits from the Adviser, to the base management, loan servicing and incentive fees.

(H) Had we not received any non-contractual, unconditional and irrevocable credits of fees from the Adviser, the ratio of net expenses to average net assets would have been 14.32% and 12.53% for the six months ended March 31, 2026 and March 31, 2025, respectively.

(I) Had we not received any non-contractual, unconditional and irrevocable credits of fees from the Adviser, the ratio of net investment income to average net assets would have been 6.71% and 5.65% for the six months ended March 31, 2026 and March 31, 2025, respectively.