Blue Owl Technology Finance Corp. · NYSE:OTF
Blue Owl Technology Finance — Q2 2024 Earnings Presentation
13 slides from Blue Owl Technology Finance's earnings presentation, August 2024
Slide 1: Blue Owl Technology Finance Corp. Quarterly Earnings Presentation
June 30, 2024 Blue Owl Technology Finance Corp. Quarterly Earnings Presentation FOR EXISTING INVESTORS ONLY. OTF IS CLOSED TO NEW INVESTMENTS. 1
Slide 2: Review of Q2 2024
Review of Q2 2024 • Net asset value per share of $16.74, down from $17.10 as of 3/31/2024 • Net investment income per share of $0.49, up from $0.45 as of 3/31/2024 Earnings Summary • Net income per share of $0.04, down from $0.44 as of 3/31/2024 • Annualized ROE on net investment income of 11.5%1 •
Slide 3: Financial Highlights
Financial Highlights (Dollar amounts in thousands, except per share data; per share data is based on weighted average shares outstanding during the period, except as otherwise noted) Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Net Investment Income Per Share $0.43 $0.47 $0.49 $0.45 $0.49 Net Realized an
Slide 4: Portfolio Highlights - Selected Metrics
Portfolio Highlights - Selected Metrics As of and For Three Months Ended June 30, 2023 September 30, December 31, March 31, 2024 June 30, 2024 (Dollar amounts in thousands) 2023 2023 Investments at Fair Value $6,431,900 $6,246,307 $6,132,022 $6,077,188 $6,157,709 Number of Portfolio Companies 119 12
Slide 5: Portfolio Highlights – New Portfolio Activity
Portfolio Highlights – New Portfolio Activity For Three Months Ended (Dollar amounts in thousands) June 30, 2023 September 30, December 31, March 31, 2024 June 30, 2024 2023 2023 Investment Activity at Par: New Investment Commitments (Net of Sell Downs) $59,575 $298,924 $481,237 $343,055 $1,107,301
Slide 6: Portfolio Highlights – Asset Mix
Portfolio Highlights – Asset Mix 141 30 $186mm $6.2bn Portfolio Portfolio Portfolio Company 10.6% Portfolio Size EBITDA1 Portfolio Yield2 Companies Industries (Traditional Financing) Weighted Average Borrower Statistics1: 7% Traditional (74.4% Q1 2024 Q2 2024 13% of portfolio by FV) Revenue $644mm
Slide 7: Portfolio Highlights – Diversification
Portfolio Highlights – Diversification Borrower Diversification Industry Diversification Systems Software 25.4% Inovalon: 3.9% Boomi: 3.4% Health Care Technology 15.3% Acquia: 3.0% Arctic Wolf: 2.8% Application Software 14.4% Intelerad: 2.6% Professional Services 5.7% Vector Solutions: 2.6% Checkmar
Slide 8: Quarterly Statements of Financial Condition
Quarterly Statements of Financial Condition As of (Dollar amounts in thousands, except per share data; per share data is June 30, 2023 September 30, 2023 December 31, 2023 March 31, 2024 June 30, 2024 based period end shares, except as otherwise noted) Assets Investments at Fair Value $6,431,900 $6,
Slide 9: Quarterly Operating Results Detail
Quarterly Operating Results Detail For the Three Months Ended (Dollar and share amounts in thousands) June 30, 2023 September 30, 2023 December 31, 2023 March 31, 2024 June 30, 2024 Investment Income Interest Income $160,670 $162,163 $166,825 $159,475 $159,831 Dividend Income $9,585 $9,819 $10,279
Slide 10: Portfolio Highlights – Internal Portfolio Ratings
Portfolio Highlights – Internal Portfolio Ratings Non-accrual investments at 6/30/2024 as a percentage of total debt investments at cost and fair value were 3.7% and 1.9%, respectively. At quarter end 6/30/2024, there were 2 portfolio companies on non-accrual. (Dollar amounts in thousands) Internal
Slide 11: Financing Landscape
Financing Landscape Aggregate Principal Amount Principal Committed / Amount Outstanding Outstanding Interest Rate Maturity Date Debt Maturities ($mm) Revolving Credit Aggregate Committed ($mm) $1,115 million $271 million SOFR + 175 9/26/2028 Facility Secured Revolver $1,115 Bi-Lateral Bank Facilitie
Slide 12: OTF Dividend Information
OTF Dividend Information Dividend Yield Based on NAV1 9.3% 8.7% 8.8% 8.7% 8.7% 8.1% 6.7% 6.9% 6.3% 5.9% 5.6% 5.6% Quarterly Dividend 5.3% 3.6% $0.37 $0.37 $0.37 $0.37 $0.39 $0.34 $0.28 $0.29 $0.24 $0.24 $0.24 $0.23 $0.17 $0.16 Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q
Slide 13: Important Information
Important Information Unless otherwise noted the Report Date referenced herein is as of 6/30/24. Past performance is not a guarantee of future results. The information contained in this presentation should be viewed in conjunction with the Company’s most recently-filed Quarterly Report on Form 10-Q
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