How has GAIN's earnings surprise trend evolved over the past year?

Gladstone Investment (GAIN) has consistently underperformed earnings expectations, with a notable trend of negative surprises over the past year.

1. **Q3 2024 Earnings**: GAIN reported earnings per share (EPS) of $0.26, which was a surprise of -3.70% as it missed the Zacks Consensus Estimate of $0.27.
2. **Q4 2024 Earnings**: The EPS for the quarter ended March 2024, was $0.24, missing the estimate of $0.26, resulting in an earnings surprise of -7.69%.
3. **Q2 2025 Earnings**: GAIN reported EPS of $0.23 for the quarter ended June 2025, which was a surprise of -4.17% as it missed the estimate of $0.24.
4. **Q3 2025 Earnings**: The latest report period for GAIN is for Q3 2025, where the EPS was $0.23, missing the estimate of $0.24, resulting in another earnings surprise of -4.17%.

**Conclusion**: GAIN has experienced a pattern of earnings surprises, with a consistent trend of missing earnings expectations over the past year. The company's earnings have not surpassed consensus EPS estimates in any of the four quarters, indicating a challenging period for the company in terms of meeting financial projections.