Great. morning, and everyone. Mike, good Thanks,
all know, COVID, sense March in In been with seems through I'll a that one to and you had report, like this, which, last fiscal off go March, not came it's and all many ending years which on the quite fiscal it on time we've all actually all ago reflecting in everything Just in part we hopefully that going as our leave long obviously deal XX. a our for we lots you Gladstone because gave XXXX of best with of months ways. case, of with different year-end one we probably Investment our we, with
helped of have this into head reality steam us going been. course, we've where with But year. of deal with a to that So we've of good all the fiscal
and to right right so result into getting COVID. know the touch let all our as beginning to in a this. know of forward And doing we'll on what and of doing we keeps that didn't we're through expect you going that obviously And company what the going ensure that, things
testament relatively XX turned $X.XX assets the investment this the year, out, per a it reporting per is actually net and $X.XX portfolio interest able share. of As were that and investments hear that's to actually adjusted we And and own basis, I we're think the both share June income with at where understand while On debt foundation comparative against the the X/XX quarter headed. more the and end stable the income thing good to that. we is through which explain is We ended that debt feel importantly, quarter-to-quarter important total we'll a that the a more about to a was the X/XX as quarter income on move about really and our which forward. circumstances, of equity. about going primarily good we'll and bit -- we pretty more for was under sorry,
mind. in that keep just So
into Our some and working the exceeded since the we this. obviously say if on keep companies going pretty companies cash stress to of including well, flow to our is of them which our you The this important Most has have happily through can companies. closely primary our emphasis of got our capital of have dynamic, It in with I actually is each operating companies. working we been when this performed and we get be were to our monitoring portfolio that. focus time will, portfolio continues clearly expectations and that into really
as frankly, the so COVID function around much good and if and we've activity thing. a going not in purpose. the necessarily support, To-date, operations if underlying companies. of the that needed even where do some on are we clearly which of general, So to, we've of result all had those a is or we in really have did, decline very to provide But drop-off much what's for financial that, those needed not liquidity and a sufficient additional economy we
the As significant of number gains I very mentioned, obviously we in fiscal realized our and for report of of exited ago, few which obviously us last back months the year, portfolio year-end our securities. capital a companies a generated had debt through repayment net liquidity our
March our strong, forward. to year, in So last and the we again XXXX, fiscal the put just position us XXXX, our that's portfolio year year, not companies a support calendar good really but ended also going
equity thing and was this continue We and is which new generate of buyout $XX debt investment regard, for are the security, that also will because obviously a after at in able grow combination July, a just quarter portfolio. that was And it $XX X/XX, we debt. million part make interest is end a significant And which million, about pretty and in our rebuild income obviously, actually us. does good that a of the for to did
were operating compares X/XX NAV, by companies to which decrease per affected in had some $XX.XX COVID We a and a number had period come and was of to share. at companies relatively a down that not these that that value, This what book that's underlying again, valued sectors our Our obviously it and was for actually and by were initially and in operating. others X/XX/XX. that in speaking of a directly share was the was so really as their compared the for obviously X/XX/XX $X.XX result earnings value But were more were the $XX.XX valuations. fundamentally, that activity quarter-end, COVID as them, that our is than at to the in are again a businesses NAV decline, earnings, part X/XX impacted obviously reflected some off result, of of they we and per of in good
have the potential to the providing we So support gave the engaged the actively pandemic in just our and report with actions that continuing teams as follow-on actions necessary. were We're of issues proactively portfolio. management to that on, monitor we their taken, terms the early in the we
and employees very a fair Directors, re-forecasting that if Managing each and people any we're goes work. potential for focused resources, capital work because for each stuff Obviously, needs sure with being you to temporary portfolio of things. team the on great into there's the as legal will, the HR-related that we're right part such that to who all around have. things company, doing are responsible company Our amount our be might of closely has companies these back in And coming
the that quarter which investments a not we've we're obviously the interest to with values activity coming X/XX affecting and much news values But again, something through the The pandemic, effect depreciated we've had about stabilization essentially this fair was And primarily from support, we really decline to again going people not of that's And there due seen X%, the market and fortunately, portfolio I again, before, keep hard we at but XX/XX/XX had to and these work. is seeing So for, back accommodation the or mentioned portfolio to multiples. operations on about X% good the to quarter. X/XX/XX either this additional aggregate working in quarter only to companies of very on. from point, to striving and in provide values. companies, only X/XX are obligations,
really companies geographic obviously, we're the more on others, encouraged So affected slightly are based of by those And that. that and I'm companies. again, some sector, also their location seeing than
we to duration on. of COVID about yesteryears And like an the go whether So to to really flow the it those of and carefully approach bit that our and one we a non-accrual of flexibility might them, more have you company provides do that to time us economic help expect depending a this talk possible is why balancing working, a of portfolio, the owner of provider same back timing might our really management reemphasize I go with is that with that's companies devaluation, that we bit portfolio a us and as them see us of we'll and in had work saying, in pandemic bit a and the lot we've act, with financially on being more this will keep so are non-accrual, we the more come other, function only we've see times leave value, so individual we on equity further these But little the companies, majority these as you that we are hope advantage, And experience a companies recovery, has of companies preservation a structuring debt progress again, some as and most non-accrual are want activity. I of on gives in and of of an on improvement want as type that And obviously. the with well companies the some to cash we again, continue through about good thought some off that. non-accrual. that made to hear very
So working on. that's what we're
of in In with focus companies. involvement close our general, outlook the just terms our obviously portfolio continuing is
experience. would We valuations a on using for. and also But purchase of going we're closed activity new interesting as it that an and in be returns having rationale this right with be and trying that obviously acquisitions. Zoom for value July, tendency now type become thing may able views a capability. by kinds to good of The to come we to we're as returns, continue actually, rationalization seeing were on right actively markets the this pursue would the to stick made might what potential review And environment. acquisition conduct quality due doing and obviously in Zoom maintain say, back give effectively look us you and us. the opportunity what the we're due a call I how our philosophy our to new That's to that diligence beginning we continues of in the an that get we're as we challenge determine expected of this some diligence that's bulk Obviously, to is a the
and the we're beyond that we portfolio. that's some in We're All in think So of position on it's all, just patient existing be deal preservation little I months. going. a really of we in working as to and pickup seeing a the where pull-through over have part our next keep nine one we flow just good
Julia? CFO. Ryan, going over there I'm turn So stop our to it to and Julia
