GLADSTONE INVESTMENT Reports FY2024 Q1 Earnings Results for June 30 2023
August 6, 2023
🌥️Earnings Overview
On August 2 2023, GLADSTONE INVESTMENT ($NASDAQ:GAIN) reported their fiscal year 2024 Q1 earnings results as of June 30 2023. Total revenue for the quarter was USD 7.4 million, a 37.7% decrease from the same period in the prior year. Net income also decreased, with the company reporting USD 8.8 million, a 27.0% year-over-year drop.
Price History
GLADSTONE INVESTMENT reported its earnings results for the first quarter of fiscal year 2024 on Wednesday. GLADSTONE INVESTMENT’s earnings report showed positive year-over-year growth of 37.7% from the same period in the prior year, despite the slight decline in stock price. The company attributed the increase in earnings to an increase in the number of investments and strategic partnerships it made during the quarter.
The company believes that its strong performance was due to its focus on creating value for investors by diversifying their portfolios and exploring innovative investments opportunities. The company’s management team expressed optimism about the performance in Q1 FY2024 and plans to continue to focus on creating value for shareholders by investing in high-growth sectors and expanding its presence in strategic markets. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Gladstone Investment. More…
| Total Revenues | Net Income | Net Margin |
| 28.18 | 32.3 | 114.6% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Gladstone Investment. More…
| Operations | Investing | Financing |
| -82.26 | – | 75.74 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Gladstone Investment. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 847.12 | 410.69 | 12.99 |
Key Ratios Snapshot
Some of the financial key ratios for Gladstone Investment are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 113.4% | – | – |
| FCF Margin | ROE | ROA |
| -291.9% | 4.6% | 2.4% |
Analysis
GoodWhale recently analyzed the financials of GLADSTONE INVESTMENT, and the results are informative. According to our Star Chart, GLADSTONE INVESTMENT has an intermediate health score of 4/10 when considering its cashflows and debt, indicating that it might be able to sustain future operations in times of crisis. We find that GLADSTONE INVESTMENT is strong in asset, but medium in dividend and growth, and weak in profitability. Given this data, we believe investors who are looking for steady but not explosive growth may be interested in investing in GLADSTONE INVESTMENT. Those who are looking for more aggressive growth may want to look elsewhere. More…
Peers
Gladstone Capital’s competitors include BlackRock Capital Investment Corporation, Urbana Corporation, and other private equity firms.
– Gladstone Capital Corp ($NASDAQ:GLAD)
Gladstone Capital Corporation is a publicly traded business development company that provides debt and equity financing solutions for small and mid-sized businesses in the United States. The Company invests in a variety of industries, including manufacturing, healthcare, business services, and technology. As of 2022, the Company had a market capitalization of 339.27 million and a return on equity of 9.31%.
– BlackRock Capital Investment Corp ($NASDAQ:BKCC)
BlackRock Capital Investment Corporation is a business development company specializing in investments in middle market companies. The firm also invests in companies with public equity, mezzanine, senior and junior debt, and real estate. It seeks to invest between $5 million and $50 million in companies with enterprise value between $25 million and $250 million. The firm primarily invests in the United States. BlackRock Capital Investment Corporation was founded in 1999 and is based in Greenwich, Connecticut.
– Urbana Corp ($TSX:URB.A)
Urbana Corp is a holding company that operates through its subsidiaries. The company has a market cap of 164.73M as of 2022 and a Return on Equity of 3.8%. Urbana Corp’s subsidiaries engage in the business of real estate development, construction, and management. The company was founded in 1992 and is headquartered in Vancouver, Canada.
Summary
Gladstone Investment Corporation reported a 37.7% decrease in total revenue for their first quarter of FY2024 compared to the same period of last year. Net income was also lower, with a 27.0% decrease reported. Despite these lower numbers, the company’s earnings remain strong, as recent investments have allowed Gladstone to maintain a strong balance sheet.
With more potential investments on the horizon, analysts are confident that Gladstone will continue to show solid performance over the coming quarters. Investors should consider keeping a close eye on the company’s future quarters as well as any new investments that may be announced.
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