Blue Owl Technology Finance Corp. · NYSE:OTF
Blue Owl Technology Finance — Q4 2024 Earnings Presentation
13 slides from Blue Owl Technology Finance's earnings presentation, March 2025
Slide 1: Blue Owl Technology Finance Corp. Quarterly Earnings Presentation
December 31, 2024 Blue Owl Technology Finance Corp. Quarterly Earnings Presentation FOR EXISTING INVESTORS ONLY. OTF IS CLOSED TO NEW INVESTMENTS. 1
Slide 2: Review of Q4 2024
Review of Q4 2024 • Net asset value per share of $17.09, up from $16.95 as of 9/30/2024 • Net investment income per share of $0.41, down from $0.44 as of 9/30/2024 Earnings Summary • Net income per share of $0.48, down from $0.57 as of 9/30/2024 • Annualized ROE on net investment income and net inco
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) Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Net Investment Income Per Share $0.49 $0.45 $0.49 $0.44 $0.41 Net Realized an
Slide 4: Portfolio Highlights - Selected Metrics
Portfolio Highlights - Selected Metrics As of (Dollar amounts in thousands) December 31, 2023 March 31, 2024 June 30, 2024 September 30, 2024 December 31, 2024 Investments at Fair Value $6,132,022 $6,077,188 $6,157,709 $6,396,848 $6,407,466 Number of Portfolio Companies 127 130 141 146 148 Average I
Slide 5: Portfolio Highlights – New Portfolio Activity
Portfolio Highlights – New Portfolio Activity For Three Months Ended (Dollar amounts in thousands) Decem ber 31, 2023 March 31, 2024 June 30, 2024 Septem ber 30, 2024 Decem ber 31, 2024 Investm ent Activity at Par: New Investment Commitments (Net of Sell Dow ns) $481,237 $343,055 $1,107,301 $630,789
Slide 6: Portfolio Highlights – Asset Mix
Portfolio Highlights – Asset Mix 148 31 $227mm 10.9% $6.4bn Portfolio Portfolio Portfolio Company Weighted Average Portfolio Size EBITDA1 Companies Industries (Traditional Financing) Yield of Debt2 <1% Weighted Average Borrower Statistics1: 10% Traditional (74.4% Q3 2024 Q4 2024 of portfolio by FV)
Slide 7: Portfolio Highlights – Diversification
Portfolio Highlights – Diversification Borrower Diversification Industry Diversification Systems Software 23.2% Inovalon: 3.8% Arctic Wolf: 2.9% Health Care Technology 16.0% Acquia: 2.9% Intelerad: 2.5% Application Software 13.6% Vector Solutions: 2.3% Checkmarx: 2.3% Diversified Financial Services
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 December 31, 2023 March 31, 2024 June 30, 2024 September 30, 2024 December 31, 2024 based period end shares, except as otherwise noted) Assets Investments at Fair Value $6,132,022
Slide 9: Quarterly Operating Results Detail
Quarterly Operating Results Detail For the Three Months Ended (Dollar and share amounts in thousands) December 31, 2023 March 31, 2024 June 30, 2024 September 30, 2024 December 31, 2024 Investment Income Interest Income $166,825 $159,475 $159,831 $157,205 $152,050 Dividend Income $10,279 $10,689 $1
Slide 10: Portfolio Highlights – Internal Portfolio Ratings
Portfolio Highlights – Internal Portfolio Ratings Non-accrual investments at 12/31/2024 as a percentage of total portfolio investments at cost and fair value were 0.3% and 0.1%, respectively. At quarter end 12/31/2024, there was 1 portfolio company on non-accrual. (Dollar amounts in thousands) Inte
Slide 11: OTF Financing Landscape
OTF Financing Landscape Aggregate Principal Principal Amount Amount Interest Rate Maturity Date Committed / Outstanding Outstanding Debt Maturities ($mm)2 Revolving Credit Facility $1,065 million $313 million SOFR + 175 -187.5 12/20/2029 Aggregate Committed ($mm) Secured Revolver $1,065 SPV Asset Fa
Slide 12: OTF Dividend Information
OTF Dividend Information Annualized Dividend Yield Based on NAV1 9.6% 8.7% 8.8% 8.7% 8.7% 8.5% 8.1% 7.7% 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 $0.33 $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 12/31/24. 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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