---
title: "Gladstone Capital | 10-K: FY2025 Revenue Beats Estimate at USD 89.12 M"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/266255133.md"
datetime: "2025-11-17T21:08:04.000Z"
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  - [zh-CN](https://longbridge.com/zh-CN/news/266255133.md)
  - [en](https://longbridge.com/en/news/266255133.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/266255133.md)
---

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# Gladstone Capital | 10-K: FY2025 Revenue Beats Estimate at USD 89.12 M

Revenue: As of FY2025, the actual value is USD 89.12 M, beating the estimate of USD 87.82 M.

EPS: As of FY2025, the actual value is USD 2.55, beating the estimate of USD 2.2883.

EBIT: As of FY2025, the actual value is USD -22.09 M.

### Financial Metrics by Segment

#### Segment Revenue

-   **Total Investment Income**: $89.1 million for the year ended September 30, 2025, compared to $96.6 million for the year ended September 30, 2024, a decrease of 7.8%.

#### Operational Metrics

-   **Net Investment Income**: $45.2 million for the year ended September 30, 2025, compared to $46.1 million for the year ended September 30, 2024, a decrease of 1.8%.
-   **Net Realized Gain on Investments**: $55.4 million for the year ended September 30, 2025, compared to $2.0 million for the year ended September 30, 2024.
-   **Net Unrealized Appreciation (Depreciation) of Investments**: - $42.7 million for the year ended September 30, 2025, compared to $42.7 million for the year ended September 30, 2024.
-   **Net Increase in Net Assets Resulting from Operations**: $57.2 million for the year ended September 30, 2025, compared to $94.5 million for the year ended September 30, 2024, a decrease of 39.5%.

#### Cash Flow

-   **Net Cash Used in Operating Activities**: - $5.5 million for the year ended September 30, 2025, compared to $3.2 million provided by operating activities for the year ended September 30, 2024.

#### Unique Metrics

-   **Weighted Average Yield on Interest-Bearing Investments**: 12.7% for the year ended September 30, 2025, compared to 13.9% for the year ended September 30, 2024.
-   **Investments on Non-Accrual Status**: $28.8 million at cost and $13.0 million at fair value as of September 30, 2025.

### Outlook / Guidance

-   The company continues to focus on investing in lower middle market companies in the U.S. that meet certain criteria, including sustainability of free cash flow, experienced management teams, and adequate assets for loan collateral.
-   The company expects its investment portfolio over time to consist of approximately 90.0% debt investments and 10.0% equity investments, at cost.

### Related Stocks

- [Gladstone Capital Corporation (GLAD.US)](https://longbridge.com/en/quote/GLAD.US.md)

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