UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended December 31, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 814-00704 GLADSTONE INVESTMENT CORPORATION (Exact name of registrant as specified in its charter) DELAWARE 83-0423116 (State or ...

Gladstone Investment (NASDAQ:GAIN) Q3 2020 Earnings Conference Call November 4, 2020 8:30 AM ET Company Participants David Gladstone - Chief Executive Officer Julia Ryan - Chief Financial Officer Michael LiCalsi - General Counsel & Secretary Dave Dullum - President Conference Call Participants Ryan Carr - Jefferies Mickey Schleien - Ladenburg Thalmann Operator Greetings, and welcome to the Gladstone Investment Corporation Earnings Call for the quarter ended September 30, 2020. At this time, all participant ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 814-00704 GLADSTONE INVESTMENT CORPORATION (Exact name of registrant as specified in its charter) DELAWARE 83 ...

Financial Data and Key Metrics Changes - The company reported adjusted net investment income (NII) of $0.11 per share for the quarter ended June 30, 2020, down from $0.19 per share for the quarter ended March 31, 2020, reflecting the impact of COVID-19 [12][30]. - Total portfolio income remained relatively stable quarter-to-quarter, indicating a solid foundation of the assets owned [13]. - The net asset value (NAV) per share decreased to $10.87 as of June 30, 2020, from $11.17 at March 31, 2020, a decline of $0.30 per share due to the impact of COVID-19 on portfolio company valuations [20]. Business Line Data and Key Metrics Changes - The company has not needed to provide significant additional financial support to its portfolio companies, indicating strong liquidity and management of cash flow [16]. - A new buyout investment of approximately $47 million was made in July, which included a combination of equity and debt, contributing to future interest income [18]. Market Data and Key Metrics Changes - The aggregate portfolio values depreciated about 8% from December 31, 2019, to March 31, 2020, primarily due to the pandemic, but only a 1% decline was observed from March 31 to June 30, 2020, suggesting stabilization [23]. - The company noted that the performance of portfolio companies varied based on their sector and geographic location, with some companies exceeding expectations despite the pandemic [15]. Company Strategy and Development Direction - The company is focused on closely monitoring portfolio companies and ensuring cash flow management during the pandemic [14]. - There is an ongoing effort to review potential new acquisitions, with a focus on quality due diligence and maintaining expected returns [26]. - The company aims to maintain its distribution levels while being cautious about the economic environment and potential impacts on portfolio companies [71]. Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the recovery of portfolio companies as the economy stabilizes and businesses adapt to the pandemic [48]. - The company is prepared for potential further devaluation of individual portfolio companies but remains focused on preserving value and supporting management teams [24]. - The outlook remains cautious, with management emphasizing the importance of liquidity and the ability to support portfolio companies through challenging times [66]. Other Important Information - The company raised approximately $2.3 million in net proceeds under a new series of equity and about $1.7 million under a common stock ATM, both above NAV [33]. - The board maintained a current monthly distribution run rate of $0.84 per year, representing a yield of about 8.4%, excluding supplemental distributions [34]. Q&A Session Summary Question: What are the terms received on Mason West? - The company focuses on total return on assets, with expected yields on debt portions around 12% and aggregate yields in the high 9% to 10% range [44]. Question: What is the status of Horizon facilities on non-accrual? - Horizon is travel-dependent and has been significantly affected by COVID-19, leading to its non-accrual status, but management remains optimistic about its recovery [48][49]. Question: What is the outlook for liquidity of borrowers? - On average, portfolio companies are in good shape, with management actively working on liquidity through cash flow management [66]. Question: Is there an expectation for another semi-annual supplemental dividend this year? - The company will evaluate the potential for a supplemental dividend based on liquidity and portfolio performance as the year progresses [70]. Question: How does the company plan to bridge the shortfall in net interest income? - The company is focusing on potential recoveries from non-accrual investments, new deals, and expense management to improve net interest income [95].

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 814-00704 GLADSTONE INVESTMENT CORPORATION (Exact name of registrant as specified in its charter) DELAWARE 83-0423 ...

Gladstone Investment Corp (NASDAQ:GAIN) Q4 2019 Earnings Conference Call May 13, 2020 8:30 AM ET Company Participants David Gladstone - Chairman & CEO Michael LiCalsi - President, General Counsel & Secretary David Dullum - President Julia Ryan - CFO & Treasurer Conference Call Participants Ryan Carr - Jefferies Bryce Rowe - National Securities Corporation Mickey Schleien - Ladenburg Thalmann & Co. Operator Ladies and gentlemen, thank you for standing by, and welcome to the Gladstone Investment Corporation's ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended March 31, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 814-00704 GLADSTONE INVESTMENT CORPORATION (Exact name of registrant as specified in its charter) Delaware 83-0423116 (Sta ...

Gladstone Investment Corporation (NASDAQ:GAIN) Q3 2019 Earnings Conference Call February 5, 2020 8:30 AM ET Company Participants David Gladstone - Chairman & Chief Executive Officer Michael LiCalsi - General Counsel & Secretary David Dullum - President Julia Ryan - Chief Financial Officer Conference Call Participants Mickey Schleien - Ladenburg Operator Ladies and gentlemen, thank you for standing by and welcome to the Gladstone Investment Corporation Third Quarter's Earning Ending December 31st, 2019 Earni ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended December 31, 2019 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 814-00704 GLADSTONE INVESTMENT CORPORATION (Exact name of registrant as specified in its charter) DELAWARE 83- ...

Gladstone Investment Corporation (NASDAQ:GAIN) Q2 2019 Earnings Conference Call November 5, 2019 8:30 AM ET Company Participants Michael LiCalsi - General Counsel and Secretary David Gladstone - Chairman and Chief Executive Officer Julia Ryan - Interim Chief Financial Officer Conference Call Participants Henry Coffey - Wedbush Mickey Schleien - Ladenburg Matt Sherwood - CCP Ryan Carr - Jefferies Operator Ladies and gentlemen, thank you for standing by and welcome to the Gladstone Investment Corporation's Se ...