Blue Owl Technology Finance Corp. · NYSE:OTF
Blue Owl Technology Finance — Q3 2024 Earnings Presentation
13 slides from Blue Owl Technology Finance's earnings presentation, November 2024
Slide 1: Blue Owl Technology Finance Corp. Quarterly Earnings Presentation
September 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 Q3 2024
Review of Q3 2024 • Net asset value per share of $16.95, up from $16.74 as of 6/30/2024 • Net investment income per share of $0.44, down from $0.49 as of 6/30/2024 Earnings Summary • Net income per share of $0.57, up from $0.04 as of 6/30/2024 • Annualized ROE on net investment income and net income
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) Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Net Investment Income Per Share $0.47 $0.49 $0.45 $0.49 $0.44 Net Realized an
Slide 4: Portfolio Highlights - Selected Metrics
Portfolio Highlights - Selected Metrics As of and For Three Months Ended (Dollar amounts in thousands) September 30, 2023 December 31, 2023 March 31, 2024 June 30, 2024 September 30, 2024 Investments at Fair Value $6,246,307 $6,132,022 $6,077,188 $6,157,709 $6,396,848 Number of Portfolio Companies 1
Slide 5: Portfolio Highlights – New Portfolio Activity
Portfolio Highlights – New Portfolio Activity For Three Months Ended (Dollar amounts in thousands) Septem ber 30, 2023 Decem ber 31, 2023 March 31, 2024 June 30, 2024 Septem ber 30, 2024 Investm ent Activity at Par: New Investment Commitments (Net of Sell Dow ns) $298,285 $481,237 $343,055 $1,107,30
Slide 6: Portfolio Highlights – Asset Mix
Portfolio Highlights – Asset Mix 146 32 $201mm $6.4bn Portfolio Portfolio Portfolio Company 10.0% Portfolio Size EBITDA1 Portfolio Yield2 Companies Industries (Traditional Financing) <1% Weighted Average Borrower Statistics1: 9% Traditional Q2 2024 Q3 2024 (74.9% of portfolio by FV) 11% Revenue $66
Slide 7: Portfolio Highlights – Diversification
Portfolio Highlights – Diversification Borrower Diversification Industry Diversification Systems Software 23.9% Inovalon: 3.8% Boomi: 3.3% Health Care Technology 16.0% Arctic Wolf: 2.9% Acquia: 2.8% Application Software 14.0% Intelerad: 2.5% Vector Solutions: 2.5% Diversified Financial Services 6.8%
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 September 30, 2023 December 31, 2023 March 31, 2024 June 30, 2024 September 30, 2024 based period end shares, except as otherwise noted) Assets Investments at Fair Value $6,246,30
Slide 9: Quarterly Operating Results Detail
Quarterly Operating Results Detail For the Three Months Ended (Dollar and share amounts in thousands) September 30, 2023 December 31, 2023 March 31, 2024 June 30, 2024 September 30, 2024 Investment Income Interest Income $162,163 $166,825 $159,475 $159,831 $157,205 Dividend Income $9,819 $10,279 $1
Slide 10: Portfolio Highlights – Internal Portfolio Ratings
Portfolio Highlights – Internal Portfolio Ratings Non-accrual investments at 9/30/2024 as a percentage of total debt investments at cost and fair value were 0.3% and 0.2%, respectively (Dollar amounts in thousands) Internal December 31, 2023 March 31, 2024 June 30, 2024 September 30, 2024 Performan
Slide 11: Financing Landscape
Financing Landscape Aggregate Principal Amount Principal Committed / Amount Outstanding Outstanding Interest Rate Maturity Date Debt Maturities ($mm) Revolving Credit Aggregate Committed ($mm) $1,115 million $351 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 9.6% 8.7% 8.8% 8.7% 8.7% 8.5% 8.1% 6.7% 6.9% 6.3% 5.9% 5.6% 5.6% Quarterly Dividend 5.3% $0.37 $0.37 $0.37 $0.37 $0.40 $0.36 3.6% $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
Slide 13: Important Information
Important Information Unless otherwise noted the Report Date referenced herein is as of 9/30/24. 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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