N-2 - $ / shares |
3 Months Ended | |||
|---|---|---|---|---|
Jun. 30, 2026 |
Mar. 31, 2026 |
Jun. 30, 2025 |
Mar. 31, 2025 |
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| Cover [Abstract] | ||||
| Entity Central Index Key | 0001321741 | |||
| Amendment Flag | false | |||
| Securities Act File Number | 814-00704 | |||
| Document Type | 10-Q | |||
| Entity Registrant Name | GLADSTONE INVESTMENT CORPORATION\DE | |||
| Entity Address, Address Line One | 1521 WESTBRANCH DRIVE | |||
| Entity Address, Address Line Two | SUITE 100 | |||
| Entity Address, City or Town | MCLEAN | |||
| Entity Address, State or Province | VA | |||
| Entity Address, Postal Zip Code | 22102 | |||
| City Area Code | 703 | |||
| Local Phone Number | 287-5800 | |||
| Entity Emerging Growth Company | false | |||
| Financial Highlights [Abstract] | ||||
| Senior Securities, Note [Text Block] |
As of June 30, 2026, our asset coverage ratio on our senior securities representing indebtedness was 208.8%.
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| General Description of Registrant [Abstract] | ||||
| Investment Objectives and Practices [Text Block] | We were established for the purpose of investing in debt and equity securities of established private businesses operating in the United States (“U.S.”). Our investment objectives are to: (i) achieve and grow current income by investing in debt securities of established businesses that we believe will provide stable earnings and cash flow to pay expenses, make principal and interest payments on our outstanding indebtedness, and make distributions to our stockholders that grow over time; and (ii) provide our stockholders with long-term capital appreciation in the value of our assets by investing in equity securities of established businesses, generally in combination with the aforementioned debt securities, that we believe can grow over time to permit us to sell our equity investments for capital gains. To achieve our objectives, our investment strategy is to invest in several categories of debt and equity securities, with individual investments generally totaling up to $75 million, although investment size may vary depending upon our total assets or available capital at the time of investment. We expect that our investment portfolio over time will consist of approximately 70% in debt investments and 30% in equity investments, at cost. We focus on investing in lower middle market private businesses (which we generally define as private companies with annual earnings before interest, taxes, depreciation and amortization (“EBITDA”) of $5 million to $25 million) (“Lower Middle Market”) in the U.S. that meet certain criteria, including: the sustainability of the business’ free cash flow and its ability to grow it over time, adequate assets for loan collateral, experienced management teams with a significant ownership interest in the portfolio company, reasonable capitalization of the portfolio company, including an ample equity contribution or cushion based on prevailing enterprise valuation multiples, and the potential to realize appreciation and gain liquidity in our equity position, if any. We anticipate that liquidity in our equity position will be achieved through a merger, acquisition or recapitalization of the portfolio company, a public offering of the portfolio company’s stock, or, to a lesser extent, by exercising our right to require the portfolio company to repurchase our warrants, as applicable, though there can be no assurance that we will always have these rights. We invest in portfolio companies that seek funds for management buyouts and/or growth capital to finance acquisitions, recapitalize or, to a lesser extent, refinance their existing debt facilities. We seek to avoid investing in high-risk, early-stage enterprises. Our targeted portfolio companies are generally considered too small for the larger capital marketplace.
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| Risk [Text Block] |
ITEM 1A. RISK FACTORS.
Our business is subject to certain risks and events that, if they occur, could adversely affect our financial condition and results of operations and the trading price of our securities. For a discussion of these risks, please refer to the section captioned “Item 1A. Risk Factors” in Part I of our Annual Report on Form 10-K for the fiscal year ended March 31, 2026, as filed with the SEC on May 12, 2026. The risks described in our Annual Report are not the only risks we face. Additional risks and uncertainties not currently known to us or that we currently deem to be immaterial also may materially and adversely affect our business, financial condition and/or operating results.
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| NAV Per Share | $ 16.24 | $ 16.78 | $ 12.99 | $ 13.55 |