Blue Owl Capital Inc. · NYSE:OWL
Blue Owl Capital — Blue Owl Technology Income — Q3 2024 Earnings Presentation
14 slides from Blue Owl Capital's earnings presentation, November 2024
Slide 1: Blue Owl Technology Income Corporation Quarterly Earnings Presentation
September 30, 2024 Blue Owl Technology Income Corporation Quarterly Earnings Presentation FINANCIAL REPORTING PROVIDED TO INSTITUTIONAL AND EXISITING INVESTORS ONLY. NOT MARKETING MATERIAL. PROPRIETARY AND CONFIDENTIAL 1
Slide 2: Risk Factors
Risk Factors An investment in Blue Owl Technology Income Corp. (“OTIC”) is speculative and involves a high degree of risk, including the risk of a substantial loss of investment, as well as substantial fees and costs, all of which can impact an investor's return. The following are some of the risks
Slide 3: Review of Q3 2024
Review of Q3 2024 • Net asset value per share: • Class I: $10.43, up from $10.42 as of 6/30/2024 • Class D: $10.43, up from $10.42 as of 6/30/2024 • Class S: $10.43, up from $10.42 as of 6/30/2024 Earnings Summary • Net investment income per Class I share of $0.26, down from $0.28 as of 6/30/2024 •
Slide 4: 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 $0.28 $0.29 $0.27 $0.28 $0.26 Net Realized a
Slide 5: Portfolio Highlights
Portfolio Highlights As of and For Three Months Ended September 30, December 31, March 31, 2024 June 30, 2024 September 30, (Dollar amounts in thousands) 2023 2023 2024 Investments at Fair Value $2,855,052 $3,246,741 $3,778,184 $4,418,685 $4,978,776 Number of Portfolio Companies 102 115 140 159 171
Slide 6: Portfolio Highlights – New Portfolio Activity
Portfolio Highlights – New Portfolio Activity For Three Months Ended (Dollar amounts in thousands) September 30, December 31, March 31, 2024 June 30, 2024 September 30, 2023 2023 2024 Investment Activity at Par: New Investment Commitments (Net of Sell Downs) $624,998 $594,484 $859,259 $1,659,550 $9
Slide 7: Portfolio Highlights – Asset Mix
Portfolio Highlights – Asset Mix $5.0bn 171 37 $395mm 10.5% Portfolio Portfolio Portfolio Company Portfolio Size Portfolio Yield2 Companies Industries EBITDA1 Weighted Average Borrower Statistics1: 1% 1% 4% Traditional 4% (94.5% of portfolio by Q2 2024 Q3 2024 FV) Revenue $1,329mm $1,290mm EBITDA $
Slide 8: Portfolio Highlights – Diversification
Portfolio Highlights – Diversification Borrower Diversification Industry Diversification Systems Software 16.0% Circana: 3.0% Kaseya: 2.7% Health Care Technology 12.9% Sailpoint Technologies: 2.4% Anaplan: 2.0% Grayshift: 2.0% Application Software 12.9% Barracuda Networks: 1.9% Associa: 1.8% Insuran
Slide 9: Quarterly Statements of Financial Condition
Quarterly Statements of Financial Condition As of (Dollar amounts in thousands, except per share data; per share data is based period end shares, except as otherwise noted) September 30, 2023 December 31, 2023 March 31, 2024 June 30, 2024 September 30, 2024 Assets Investments at Fair Value $2,855,05
Slide 10: 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 $71,825 $87,840 $97,921 $116,446 $128,266 Dividend Income $6,059 $6,160 $6,340
Slide 11: Portfolio Highlights – Internal Portfolio Ratings
Portfolio Highlights – Internal Portfolio Ratings There were no investments on non-accrual as of 9/30/2024 (Dollar amounts in thousands) December 31, 2023 March 31, 2024 June 30, 2024 September 30, 2024 I nternal Performance Rating Investments at % of Total Investments at % of Total Investments at
Slide 12: Financing Landscape
Financing Landscape Aggregate Principal Amount Principal Committed / Amount Outstanding Outstanding Interest Rate Maturity Date Debt Maturities (Committed) ($mm)1 Revolving Credit Facility $975 million $718 million S + 200 10/23/2028 $1,125 SPV Asset Facility I $750 million $445 million S + 275 5/6/
Slide 13: Dividend Information
Dividend Information Dividend Yield Based on NAV per Share1 11.9% 10.2% 9.7% 9.8% 9.8% 8.8% $0.08 8.8% 8.7% 7.9% $0.04 $0.03 $0.03 $0.03 $0.20 $0.22 $0.22 $0.22 $0.22 $0.22 $0.22 $0.22 $0.22 Quarterly Dividend Special Dividend Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Historical Dividend
Slide 14: Important Information
Important Information Unless otherwise noted the Report Date referenced herein is as of 9/30/2024. 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-
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