Gladstone Capital (GLAD) Operating Expenses (2021 - 2026)
Gladstone Capital (GLAD) reported Operating Expenses of $13.49 million for fiscal Q3 2026 (quarter ended Jun 30, 2026), up 30.2% from $10.36 million a year earlier but down 4.7% from the prior quarter.
Gladstone Capital (GLAD) Operating Expenses (2021 - 2026) Analysis & Trends
Over the twelve months ended Jun 30, 2026, Gladstone Capital's Operating Expenses came in at $53.38 million, up 20.8% year-over-year; for FY2025 (ended Sep 30, 2025), it was $43.92 million, down 13.1% from FY2024.
- Operating Expenses has a four-year compound annual growth rate of 12.2% (FY2021 to FY2025).
- By fiscal year, Operating Expenses came in at $50.56 million in FY2024 (+11.3%), $45.41 million in FY2023 (+47.1%), $30.87 million in FY2022 (+11.6%) and $27.67 million in FY2021.
- Five-year quarterly Operating Expenses spans a low of $6.84 million in fiscal Q3 2022 and a high of $14.15 million in fiscal Q2 2026.
- Year over year, Operating Expenses has now increased in each of the last three quarters, with growth averaging 5.0% over the last eight quarters.
- The high point for year-over-year Operating Expenses in five years was fiscal Q3 2023 (growth of 63.0%); the low point was fiscal Q3 2025 (a decline of 22.1%).
- Per Business Quant data, the three fiscal quarters before Q3 2026 came in at $14.15 million (Q2 2026), $13.25 million (Q1 2026) and $12.49 million (Q4 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Rocket Companies | 43.26 Bn | 28.94 Bn | - | 2.50 Bn |
| 2 | Orix | 42.40 Bn | 42.90 Bn | - | 4.66 Bn |
| 3 | Royalty Pharma | 33.56 Bn | 33.47 Bn | - | 541.02 Mn |
| 4 | Federal National Mortgage Association Fannie Mae | 24.47 Bn | 24.47 Bn | - | 2.07 Bn |
| 5 | Affirm Holdings | 23.34 Bn | 17.03 Bn | - | 1.02 Bn |
| 6 | Synchrony Financial | 23.06 Bn | -44.91 Bn | - | 1.33 Bn |
| 7 | Royal Gold | 19.98 Bn | 19.21 Bn | 390.45 Mn | 173.18 Mn |
| 8 | Annaly Capital Management | 14.18 Bn | 5.27 Bn | - | 58.19 Mn |
| 9 | Ares Capital | 13.71 Bn | 11.15 Bn | - | - |
| 10 | Gladstone Capital | 434.46 Mn | 434.46 Mn | - | 13.49 Mn |
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 13.49 Mn |
| Mar 31, 2026 | 14.15 Mn |
| Dec 31, 2025 | 13.25 Mn |
| Sep 30, 2025 | 12.49 Mn |
| Jun 30, 2025 | 10.36 Mn |
| Mar 31, 2025 | 10.32 Mn |
| Dec 31, 2024 | 10.74 Mn |
| Sep 30, 2024 | 12.76 Mn |
| Jun 30, 2024 | 13.30 Mn |
| Mar 31, 2024 | 13.22 Mn |
| Dec 31, 2023 | 11.29 Mn |
| Sep 30, 2023 | 12.77 Mn |
| Jun 30, 2023 | 11.15 Mn |
| Mar 31, 2023 | 10.93 Mn |
| Dec 31, 2022 | 10.57 Mn |
| Sep 30, 2022 | 8.46 Mn |
| Jun 30, 2022 | 6.84 Mn |
| Mar 31, 2022 | 8.57 Mn |
| Dec 31, 2021 | 7.01 Mn |
Gladstone Capital Operating Expenses API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-expenses&ticker=GLAD&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "ticker": "GLAD", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-expenses&ticker=GLAD&period=max&api_key=YOUR_API_KEY");
const data = await res.json();