Gladstone Capital Corp
gladstonecapital.comWhat Do They Do?
Lends to and takes equity stakes in established private businesses in the United States.
10-K for FY2025, filed Nov 17, 2025
How Do They Make Money?
Borrowers pay interest on loans monthly or at least quarterly, with principal due at maturity. Gladstone may also receive dividends on equity holdings and fees when a portfolio company changes hands, often in cash.
10-K for FY2025, filed Nov 17, 2025In general, our investments in debt securities have a term of no more than seven years, accrue interest at variable rates (generally based…View ↗
We record success fees as income when earned, which often occurs upon receipt of cash. Success fees are generally contractually due upon a…View ↗
We accrue dividend income on preferred and common equity securities to the extent that such amounts are expected to be collected and if we…View ↗
$45.2M
-
10-K for FY2025, filed Nov 17, 2025
$45.2M ↗
Who Are Their Customers?
It lends to established lower-middle-market U.S. businesses seeking growth, acquisition or refinancing funds. Opportunities come through private-equity sponsors and other financial professionals; Gladstone invests alone or alongside funds or portfolio-company management.
10-K for FY2025, filed Nov 17, 2025We focus on investing in lower middle market companies (which we generally define as companies with annual earnings before interest, taxes…View ↗
To originate investments, the Adviser’s investment professionals use an extensive referral network comprised primarily of private equity…View ↗
We invest by ourselves or jointly with other funds and/or management of the portfolio company, depending on the opportunity. In July 2012…View ↗
Do Revenues Turn Into Profits?
Yes. Its net income in FY2025 was larger than its revenue.
10-K for FY2025, filed Nov 17, 2025
$57.2MView ↗
How Are They Changing?
-
Mar 23, 2026
Robert Marcotte replaced David Gladstone as CEO
Gladstone remains chairman; Marcotte's appointment took effect immediately.
Sources
8-K, filed Mar 23, 2026
On March 20, 2026, David Gladstone gave notice to the Board of Directors (the “Board”) of Gladstone Capital Corporation (the “Company”)…View ↗
Growing. Revenue grew 73% in 4 years, from $26.1M in FY2021 to $45.2M in FY2025, about 15% a year.
Broader borrower criteria
The stated earnings range for target businesses is broader in the latest report, extending the upper end of the company's definition of lower-middle-market borrowers.
10-K for FY2022, filed Nov 14, 2022 10-K for FY2025, filed Nov 17, 2025Our investment objectives are to: (1) achieve and grow current income by investing in debt securities of established lower middle market…View ↗
Our investment objectives are to: (1) achieve and grow current income by investing in debt securities of established lower middle market…View ↗
Loading...
