Blue Owl Technology Finance Corp. · NYSE:OTF
Blue Owl Technology Finance — Q1 2025 Earnings Presentation
13 slides from Blue Owl Technology Finance's earnings presentation, May 2025
Slide 1: Blue Owl Technology Finance Corp. Quarterly Earnings Presentation
March 31, 2025 Blue Owl Technology Finance Corp. Quarterly Earnings Presentation FOR EXISTING INVESTORS ONLY. OTF IS CLOSED TO NEW INVESTMENTS. 1
Slide 2: Review of Q1 2025
Review of Q1 2025 • Net asset value per share of $17.09, flat from 12/31/2024 • Net investment income per share of $0.41, flat from 12/31/2024 Earnings Summary • Net income per share of $0.33, down from $0.48 as of 12/31/2024 • Annualized ROE on net investment income and net income of 9.7%1 and 7.8%
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) Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Net Investment Income Per Share $0.45 $0.49 $0.44 $0.41 $0.41 Net Realized an
Slide 4: Portfolio Highlights - Selected Metrics
Portfolio Highlights - Selected Metrics As of (Dollar amounts in thousands) March 31, 2024 June 30, 2024 September 30, 2024 December 31, 2024 March 31, 2025 Investments at Fair Value $6,077,188 $6,157,709 $6,396,848 $6,407,466 $12,070,858 Number of Portfolio Companies 130 141 146 148 181 Average Inv
Slide 5: Portfolio Highlights – New Portfolio Activity
Portfolio Highlights – New Portfolio Activity For Three Months Ended (Dollar amounts in thousands) March 31, 2024 June 30, 2024 Septem ber 30, 2024 Decem ber 31, 2024 March 31, 2025 Investm ent Activity at Par: New Investment Commitments (Net of Sell Dow ns) $343,055 $1,107,301 $630,789 $572,021 $81
Slide 6: Portfolio Highlights – Asset Mix
Portfolio Highlights – Asset Mix 181 35 $251mm $12.1bn Portfolio Portfolio Portfolio Company 10.6% Portfolio Size EBITDA1 Debt Portfolio Yield2 Companies Industries (First and Second Lien) <1% Weighted Average Borrower Statistics1: First & Second 7% Q4 2024 Q1 2025 Lien Investments 8% Revenue $777m
Slide 7: OTF Portfolio Highlights – Diversification
OTF Portfolio Highlights – Diversification Borrower Diversification Industry Diversification Systems Software 22.2% Sitecore: 2.3% Arctic Wolf: 2.3% Application Software 13.9% Inovalon: 2.1% New Relic: 1.7% Audiotonix: 1.6% Zendesk: 1.6% Health Care Technology 13.5% Litera: 1.6% Anaplan: 1.5% Divers
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 March 31, 2024 June 30, 2024 September 30, 2024 December 31, 2024 March 31, 2025 based period end shares, except as otherwise noted) Assets Investments at Fair Value $6,077,188 $6
Slide 9: Quarterly Operating Results Detail
Quarterly Operating Results Detail For the Three Months Ended (Dollar and share amounts in thousands) March 31, 2024 June 30, 2024 September 30, 2024 December 31, 2024 March 31, 2025 Investment Income Interest Income $159,475 $159,831 $157,205 $152,050 $160,436 Dividend Income $10,689 $12,280 $12,7
Slide 10: Portfolio Highlights – Internal Portfolio Ratings
Portfolio Highlights – Internal Portfolio Ratings Non-accrual investments at 3/31/2025 as a percentage of total portfolio investments at cost and fair value were 0.2% and <0.1%, respectively. At quarter end 3/31/2025, there was 1 portfolio company on non-accrual. (Dollar amounts in thousands) Inter
Slide 11: OTF Financing Landscape
OTF Financing Landscape Aggregate Principal Principal Amount Amount Interest Rate Maturity Date Committed / Outstanding Outstanding Debt Maturities ($mm)3 Revolving Credit Facility $2,575 million $596 million SOFR + 175-187.5 bps2 12/20/2029 SPV Asset Facility I $700 million $600 million SOFR + 225
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% 7.7% 8.0% 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 3.6% $0.34 $0.36 $0.33 $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 Q3'2
Slide 13: Important Information
Important Information Unless otherwise noted the Report Date referenced herein is as of 3/31/25. 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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