Gladstone Investment Corp
NASDAQ:GAIN
Income Statement
Earnings Waterfall
Gladstone Investment Corp
Income Statement
Gladstone Investment Corp
| Jun-2006 | Sep-2006 | Dec-2006 | Mar-2007 | Jun-2007 | Sep-2007 | Dec-2007 | Mar-2008 | Jun-2008 | Sep-2008 | Dec-2008 | Mar-2009 | Jun-2009 | Sep-2009 | Dec-2009 | Mar-2010 | Jun-2010 | Sep-2010 | Dec-2010 | Mar-2011 | Jun-2011 | Sep-2011 | Dec-2011 | Mar-2012 | Jun-2012 | Sep-2012 | Dec-2012 | Mar-2013 | Jun-2013 | Sep-2013 | Dec-2013 | Mar-2014 | Jun-2014 | Sep-2014 | Dec-2014 | Mar-2015 | Jun-2015 | Sep-2015 | Dec-2015 | Mar-2016 | Jun-2016 | Sep-2016 | Dec-2016 | Mar-2017 | Jun-2017 | Sep-2017 | Dec-2017 | Mar-2018 | Jun-2018 | Sep-2018 | Dec-2018 | Mar-2019 | Jun-2019 | Sep-2019 | Dec-2019 | Mar-2020 | Jun-2020 | Sep-2020 | Dec-2020 | Mar-2021 | Jun-2021 | Sep-2021 | Dec-2021 | Mar-2022 | Jun-2022 | Sep-2022 | Dec-2022 | Mar-2023 | Jun-2023 | Sep-2023 | Dec-2023 | Mar-2024 | Jun-2024 | Sep-2024 | Dec-2024 | Mar-2025 | Jun-2025 | Sep-2025 | Dec-2025 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Revenue |
11
N/A
|
14
+21%
|
16
+15%
|
17
+11%
|
20
+14%
|
23
+15%
|
26
+14%
|
28
+8%
|
28
-1%
|
27
-1%
|
27
-2%
|
26
-4%
|
25
-3%
|
23
-8%
|
22
-5%
|
21
-5%
|
23
+10%
|
22
-3%
|
27
+22%
|
26
-3%
|
24
-8%
|
25
+3%
|
19
-22%
|
26
+37%
|
22
-17%
|
24
+9%
|
26
+8%
|
31
+21%
|
32
+2%
|
61
+91%
|
50
-19%
|
45
-10%
|
47
+5%
|
20
-58%
|
36
+80%
|
42
+17%
|
45
+7%
|
47
+4%
|
45
-3%
|
46
+3%
|
66
+43%
|
67
+1%
|
67
+0%
|
67
+0%
|
49
-27%
|
51
+3%
|
57
+12%
|
60
+5%
|
75
+25%
|
72
-4%
|
147
+105%
|
128
-13%
|
116
-9%
|
144
+24%
|
102
-29%
|
107
+4%
|
100
-6%
|
75
-25%
|
52
-31%
|
68
+32%
|
77
+13%
|
83
+9%
|
95
+15%
|
87
-9%
|
91
+4%
|
95
+5%
|
82
-14%
|
92
+13%
|
90
-2%
|
87
-3%
|
129
+47%
|
118
-9%
|
118
+1%
|
163
+37%
|
117
-28%
|
157
+34%
|
158
+1%
|
89
-44%
|
96
+8%
|
|
| Gross Profit | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Cost of Revenue |
(2)
|
(2)
|
(3)
|
(1)
|
(4)
|
(6)
|
(9)
|
(9)
|
(10)
|
(9)
|
(8)
|
(6)
|
(7)
|
(7)
|
(6)
|
(4)
|
(5)
|
(5)
|
(6)
|
(4)
|
(6)
|
(6)
|
(4)
|
(6)
|
(5)
|
(6)
|
(8)
|
(10)
|
(11)
|
(12)
|
(13)
|
(13)
|
(15)
|
(15)
|
(16)
|
(17)
|
(19)
|
(21)
|
(21)
|
(21)
|
(22)
|
(20)
|
(20)
|
(20)
|
(19)
|
(20)
|
(22)
|
(27)
|
(35)
|
(42)
|
(45)
|
(43)
|
(36)
|
(30)
|
(28)
|
(15)
|
(14)
|
(15)
|
(18)
|
(34)
|
(49)
|
(59)
|
(61)
|
(63)
|
(55)
|
(49)
|
(51)
|
(49)
|
(50)
|
(65)
|
(66)
|
(74)
|
(70)
|
(61)
|
(69)
|
(72)
|
(79)
|
(87)
|
(98)
|
|
| Gross Profit |
9
N/A
|
11
+17%
|
13
+14%
|
17
+31%
|
15
-7%
|
16
+7%
|
17
+6%
|
19
+12%
|
18
-9%
|
18
+4%
|
19
+1%
|
20
+8%
|
18
-11%
|
17
-8%
|
16
-2%
|
17
+2%
|
18
+6%
|
18
0%
|
21
+22%
|
22
+3%
|
19
-16%
|
18
-1%
|
15
-18%
|
21
+38%
|
17
-17%
|
18
+5%
|
18
-1%
|
21
+20%
|
21
-1%
|
49
+131%
|
37
-25%
|
31
-15%
|
32
+3%
|
5
-84%
|
19
+271%
|
24
+24%
|
26
+7%
|
26
+1%
|
24
-6%
|
25
+3%
|
45
+78%
|
47
+4%
|
47
+1%
|
47
+1%
|
30
-37%
|
31
+3%
|
35
+13%
|
33
-6%
|
40
+21%
|
29
-26%
|
102
+250%
|
86
-16%
|
80
-6%
|
114
+42%
|
75
-35%
|
92
+23%
|
86
-6%
|
60
-30%
|
34
-44%
|
34
0%
|
27
-19%
|
24
-11%
|
34
+42%
|
25
-29%
|
36
+46%
|
46
+27%
|
30
-34%
|
43
+42%
|
40
-8%
|
23
-43%
|
62
+175%
|
43
-30%
|
48
+10%
|
101
+111%
|
48
-53%
|
85
+77%
|
79
-6%
|
2
-98%
|
(2)
N/A
|
|
| Operating Income | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Operating Expenses |
(1)
|
(1)
|
(2)
|
(5)
|
(4)
|
(5)
|
(5)
|
(6)
|
(4)
|
(4)
|
(5)
|
(7)
|
(5)
|
(5)
|
(5)
|
(6)
|
(5)
|
(5)
|
(4)
|
(6)
|
(3)
|
(2)
|
(3)
|
(2)
|
(4)
|
(4)
|
(4)
|
(4)
|
(4)
|
(4)
|
(4)
|
(4)
|
(4)
|
(4)
|
(4)
|
(4)
|
(6)
|
(7)
|
(8)
|
(9)
|
(9)
|
(9)
|
(10)
|
(9)
|
(11)
|
(11)
|
(10)
|
(10)
|
(9)
|
(11)
|
(9)
|
(9)
|
(23)
|
(22)
|
(25)
|
(10)
|
(20)
|
(17)
|
(15)
|
(5)
|
(3)
|
(3)
|
2
|
5
|
6
|
7
|
4
|
5
|
6
|
8
|
9
|
9
|
7
|
5
|
6
|
7
|
9
|
11
|
10
|
|
| Selling, General & Administrative |
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(3)
|
(2)
|
(2)
|
(3)
|
(3)
|
(3)
|
(3)
|
(3)
|
(3)
|
(3)
|
(3)
|
(3)
|
(3)
|
(3)
|
(3)
|
(3)
|
(3)
|
(4)
|
(4)
|
(4)
|
(4)
|
(4)
|
(4)
|
(4)
|
(4)
|
(5)
|
(5)
|
(4)
|
(4)
|
(4)
|
(6)
|
(6)
|
(6)
|
(6)
|
(6)
|
(6)
|
(6)
|
(7)
|
(6)
|
(6)
|
(6)
|
(6)
|
(6)
|
(7)
|
(6)
|
(7)
|
(7)
|
(7)
|
(7)
|
(7)
|
(6)
|
(6)
|
(6)
|
(7)
|
(8)
|
(8)
|
(8)
|
(7)
|
(7)
|
(6)
|
|
| Other Operating Expenses |
0
|
1
|
0
|
(3)
|
(2)
|
(2)
|
(2)
|
(4)
|
(2)
|
(2)
|
(2)
|
(5)
|
(3)
|
(3)
|
(3)
|
(4)
|
(3)
|
(3)
|
(3)
|
(3)
|
(1)
|
0
|
(0)
|
1
|
(1)
|
(2)
|
(1)
|
(2)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(0)
|
(1)
|
(1)
|
(2)
|
(3)
|
(4)
|
(5)
|
(5)
|
(5)
|
(5)
|
(5)
|
(6)
|
(6)
|
(5)
|
(5)
|
(5)
|
(5)
|
(3)
|
(3)
|
(16)
|
(16)
|
(19)
|
(4)
|
(13)
|
(11)
|
(9)
|
1
|
3
|
4
|
9
|
11
|
12
|
14
|
11
|
12
|
13
|
13
|
15
|
15
|
14
|
13
|
14
|
15
|
16
|
18
|
17
|
|
| Operating Income |
8
N/A
|
10
+17%
|
11
+12%
|
11
+0%
|
11
+3%
|
12
+1%
|
12
+7%
|
13
+5%
|
13
+1%
|
14
+6%
|
14
-1%
|
13
-3%
|
13
-5%
|
11
-11%
|
11
-5%
|
11
-2%
|
12
+17%
|
12
+1%
|
17
+36%
|
16
-4%
|
15
-5%
|
16
+6%
|
12
-25%
|
19
+54%
|
13
-28%
|
14
+1%
|
14
+4%
|
17
+22%
|
17
0%
|
45
+160%
|
32
-28%
|
28
-14%
|
28
+3%
|
2
-95%
|
16
+952%
|
20
+25%
|
20
+3%
|
19
-4%
|
16
-16%
|
16
-1%
|
36
+124%
|
38
+5%
|
37
-1%
|
38
+1%
|
19
-50%
|
20
+4%
|
25
+28%
|
23
-8%
|
31
+32%
|
18
-41%
|
94
+411%
|
76
-19%
|
58
-24%
|
92
+60%
|
50
-46%
|
81
+63%
|
66
-18%
|
44
-34%
|
19
-57%
|
29
+55%
|
24
-18%
|
22
-10%
|
37
+70%
|
29
-20%
|
42
+42%
|
53
+27%
|
35
-34%
|
48
+38%
|
46
-5%
|
30
-33%
|
71
+134%
|
52
-27%
|
55
+5%
|
106
+93%
|
54
-49%
|
91
+70%
|
88
-4%
|
13
-86%
|
9
-33%
|
|
| Pre-Tax Income | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Interest Income Expense |
(1)
|
(1)
|
(1)
|
(4)
|
3
|
(5)
|
(3)
|
(14)
|
(27)
|
(22)
|
(31)
|
(25)
|
(29)
|
(47)
|
(47)
|
(22)
|
(9)
|
2
|
17
|
0
|
(0)
|
18
|
13
|
3
|
1
|
(12)
|
(13)
|
0
|
(3)
|
(16)
|
(18)
|
(29)
|
(12)
|
2
|
6
|
30
|
28
|
26
|
15
|
9
|
5
|
3
|
21
|
7
|
9
|
22
|
23
|
37
|
54
|
83
|
7
|
19
|
(3)
|
(56)
|
(17)
|
(78)
|
(80)
|
(61)
|
(35)
|
13
|
66
|
89
|
69
|
73
|
26
|
(11)
|
13
|
(12)
|
(13)
|
46
|
(4)
|
33
|
15
|
(68)
|
16
|
(26)
|
(8)
|
80
|
112
|
|
| Non-Reccuring Items |
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(14)
|
0
|
0
|
0
|
(10)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
| Pre-Tax Income |
7
N/A
|
9
+19%
|
10
+12%
|
7
-25%
|
14
+95%
|
7
-51%
|
9
+35%
|
(1)
N/A
|
(14)
-1 421%
|
(8)
+39%
|
(17)
-108%
|
(11)
+35%
|
(16)
-42%
|
(35)
-118%
|
(36)
-1%
|
(11)
+69%
|
3
N/A
|
15
+322%
|
34
+133%
|
16
-52%
|
15
-7%
|
35
+128%
|
25
-28%
|
22
-13%
|
15
-33%
|
2
-88%
|
1
-47%
|
17
+1 780%
|
14
-20%
|
29
+111%
|
14
-53%
|
(1)
N/A
|
16
N/A
|
4
-77%
|
22
+491%
|
50
+128%
|
48
-4%
|
45
-6%
|
31
-31%
|
25
-21%
|
41
+64%
|
41
+0%
|
58
+42%
|
45
-23%
|
28
-37%
|
42
+48%
|
48
+15%
|
61
+26%
|
85
+40%
|
102
+20%
|
101
-1%
|
82
-19%
|
55
-32%
|
36
-35%
|
33
-9%
|
(7)
N/A
|
(13)
-84%
|
(18)
-33%
|
(16)
+11%
|
43
N/A
|
90
+111%
|
111
+24%
|
106
-4%
|
102
-4%
|
67
-34%
|
42
-37%
|
48
+13%
|
36
-25%
|
32
-9%
|
77
+137%
|
67
-12%
|
85
+27%
|
70
-18%
|
38
-46%
|
70
+84%
|
65
-7%
|
80
+22%
|
93
+17%
|
120
+30%
|
|
| Net Income | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Tax Provision |
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
| Income from Continuing Operations |
7
|
9
|
10
|
7
|
14
|
7
|
9
|
(1)
|
(14)
|
(8)
|
(17)
|
(11)
|
(16)
|
(35)
|
(36)
|
(11)
|
3
|
15
|
34
|
16
|
15
|
35
|
25
|
22
|
15
|
2
|
1
|
17
|
14
|
29
|
14
|
(1)
|
16
|
4
|
22
|
50
|
48
|
45
|
31
|
25
|
41
|
41
|
58
|
45
|
28
|
42
|
48
|
61
|
85
|
102
|
101
|
82
|
55
|
36
|
33
|
(7)
|
(13)
|
(18)
|
(16)
|
43
|
90
|
111
|
106
|
102
|
67
|
42
|
48
|
36
|
32
|
77
|
67
|
85
|
70
|
38
|
70
|
65
|
80
|
93
|
120
|
|
| Net Income (Common) |
7
N/A
|
9
+19%
|
10
+12%
|
7
-25%
|
14
+95%
|
7
-51%
|
9
+35%
|
(1)
N/A
|
(14)
-1 421%
|
(8)
+39%
|
(17)
-108%
|
(11)
+35%
|
(16)
-42%
|
(35)
-118%
|
(36)
-1%
|
(11)
+69%
|
3
N/A
|
15
+322%
|
34
+133%
|
16
-52%
|
15
-7%
|
35
+128%
|
25
-28%
|
22
-13%
|
15
-33%
|
2
-88%
|
1
-47%
|
17
+1 780%
|
14
-20%
|
29
+111%
|
14
-53%
|
(1)
N/A
|
16
N/A
|
4
-77%
|
22
+491%
|
50
+128%
|
48
-4%
|
45
-6%
|
31
-31%
|
25
-21%
|
41
+64%
|
41
+0%
|
58
+42%
|
45
-23%
|
28
-37%
|
42
+48%
|
48
+15%
|
61
+26%
|
85
+40%
|
102
+20%
|
101
-1%
|
82
-19%
|
55
-32%
|
36
-35%
|
33
-9%
|
(7)
N/A
|
(13)
-84%
|
(18)
-33%
|
(16)
+11%
|
43
N/A
|
90
+111%
|
111
+24%
|
106
-4%
|
102
-4%
|
67
-34%
|
42
-37%
|
48
+13%
|
36
-25%
|
32
-9%
|
77
+137%
|
67
-12%
|
85
+27%
|
70
-18%
|
38
-46%
|
70
+84%
|
65
-7%
|
80
+22%
|
93
+17%
|
120
+30%
|
|
| EPS (Diluted) |
0.43
N/A
|
0.51
+19%
|
0.57
+12%
|
0.44
-23%
|
0.86
+95%
|
0.43
-50%
|
0.58
+35%
|
-0.06
N/A
|
-0.68
-1 033%
|
-0.37
+46%
|
-0.78
-111%
|
-0.53
+32%
|
-0.74
-40%
|
-1.57
-112%
|
-1.62
-3%
|
-0.5
+69%
|
0.15
N/A
|
0.66
+340%
|
1.55
+135%
|
0.74
-52%
|
0.7
-5%
|
1.58
+126%
|
1.14
-28%
|
0.99
-13%
|
0.66
-33%
|
0.07
-89%
|
0.03
-57%
|
0.71
+2 267%
|
0.51
-28%
|
1.09
+114%
|
0.51
-53%
|
-0.05
N/A
|
0.61
N/A
|
0.15
-75%
|
0.84
+460%
|
1.88
+124%
|
1.58
-16%
|
1.49
-6%
|
1.03
-31%
|
0.82
-20%
|
1.35
+65%
|
1.35
N/A
|
1.92
+42%
|
1.48
-23%
|
0.9
-39%
|
1.29
+43%
|
1.48
+15%
|
1.88
+27%
|
2.61
+39%
|
3.09
+18%
|
3.09
N/A
|
2.49
-19%
|
1.68
-33%
|
1.09
-35%
|
1
-8%
|
-0.22
N/A
|
-0.39
-77%
|
-0.53
-36%
|
-0.48
+9%
|
1.28
N/A
|
2.7
+111%
|
3.35
+24%
|
3.2
-4%
|
3.08
-4%
|
2.02
-34%
|
1.26
-38%
|
1.42
+13%
|
1.07
-25%
|
0.96
-10%
|
2.27
+136%
|
1.96
-14%
|
2.48
+27%
|
1.9
-23%
|
1.03
-46%
|
1.92
+86%
|
1.78
-7%
|
2.17
+22%
|
2.41
+11%
|
3.03
+26%
|
|