Blue Owl Technology Finance Corp. Announces March 31, 2026 Financial Results

About this update from Blue Owl Capital Inc.

NEW YORK , May 6, 2026 /PRNewswire/ -- Blue Owl Technology Finance Corp. (NYSE: OTF) ("OTF" or the "Company") today announced financial results for its first quarter ended March 31, 2026. FIRST QUARTER 2026 HIGHLIGHTS "First quarter volatility in technology markets drove meaningful spread widening and pressured valuations across OTF's portfolio, reflecting broader market dynamics rather than underlying credit trends," said Craig W. Packer, Chief Executive Officer. "We continue to see solid credit performance across our portfolio of durable, mission-critical businesses with many already taking steps to adapt to the evolving AI environment. With over $2 billion of available liquidity, we believe the current dislocation is creating a more attractive opportunity set, allowing us to remain selective as we deploy capital, ramp leverage and support ROE expansion over time." Stock Repurchases On February 17, 2026, the Board of Directors (the "Board") approved a $300 million stock repurchase program, under which purchases may be made at management's discretion from time to time in open-market transactions, replacing the prior $200 million authorization. As of March 31, 2026, the Company repurchased approximately $50.2 million of OTF common stock, accretive to net asset value per share in the first quarter, with approximately $250 million remaining under its share repurchase program. Dividend Declarations The Board declared a second quarter 2026 base dividend of $0.35 per share for stockholders of record as of June 30, 2026, payable on or before July 15, 2026. As previously announced, the Board also declared a series of five special dividends of $0.05 per share. A full schedule of the record and payment dates can be found on the Company's website at www.blueowltechnologyfinance.com . Lock-Up Release Schedule On November 4, 2025, the Board approved an amended lock-up release schedule that applies to shares currently subject to transfer restrictions. Under the new schedule, approximately 10.6% of these shares of the Company's common stock continue to be released each month until June 12, 2026. As of today, approximately 80% of each shareholder's position has been released from lock-up. The remaining shares still subject to transfer restrictions will be released in accordance with the following schedule:   PORTFOLIO COMPOSITION As of March 31, 2026, the Company had investments in 203 portfolio companies across 37 industries, with an aggregate portfolio size of $14.1 billion at fair value and an average investment size of $69.3 million at fair value.   PORTFOLIO AND INVESTMENT ACTIVITY For the three months ended March 31, 2026, new investment commitments totaled $1.7 billion across 14 new portfolio companies and 12 existing portfolio companies. For the three months ended December 31, 2025, new investment commitments were $2.3 billion across 25 new portfolio companies and 15 existing portfolio companies. For the three months ended March 31, 2026, the principal amount of new investments funded totaled $1.3 billion and aggregate principal amount of sales and repayments was $1.1 billion. For the three months ended December 31, 2025, the principal amount of new investments funded totaled $1.7 billion and aggregate principal amount of sales and repayments was $0.9 billion. RESULTS OF OPERATIONS FOR THE FIRST QUARTER ENDED MARCH 31, 2026 Investment Income Investment income modestly increased to $326 million for the three months ended March 31, 2026 from $321 million for the three months ended December 31, 2025, primarily driven by increased interest income from an increase in portfolio size driven by net fundings during the period, partially offset by the impact of lower base rates on floating-rate assets. Other income remained relatively consistent period-over-period. The Company expects that investment income will vary based on a variety of factors including the pace of originations and repayments. Expenses Total operating expenses decreased to $153 million for the three months ended March 31, 2026 from $195 million for the three months ended December 31, 2025, primarily due to a reversal of capital gains incentive fees from mark-to-market movement, while interest expense stayed stable as lower base rates lowered the average cost of debt for financing costs related to credit facilities offset by a higher average outstanding debt balance. As a percentage of total assets, professional fees, directors' fees and other general and administrative expenses, excluding listing advisory fees, remained relatively consistent period-over-period. Liquidity and Capital Resources As of March 31, 2026, the Company had $488 million in cash, $7.0 billion in total principal value of debt outstanding, including $2.5 billion of unsecured notes and $1.8 billion of undrawn capacity (1) on the Company's credit facilities. The funding mix was composed of 64.2% secured and 35.8% unsecured borrowings as of March 31, 2026 on an outstanding basis. The Company was in compliance with all financial covenants under its credit facilities as of March 31, 2026. The Company has analyzed cash and cash equivalents, availability under its credit facilities, the ability to rotate out of certain assets and amounts of unfunded commitments that could be drawn and believes its liquidity and capital resources are sufficient to take advantage of market opportunities. CONFERENCE CALL AND WEBCAST INFORMATION Conference Call Information: The conference call will be broadcast live on May 7, 2026 at 11:30 a.m. Eastern Time on the News & Events section of OTF's website at www.blueowltechnologyfinance.com. Please visit the website to test your connection before the webcast. To pre-register for the call, please use the following link: https://event.choruscall.com/mediaframe/webcast.html?webcastid=0kGfFIja. Please visit the website to test your connection before the webcast. Participants are also invited to access the conference call by dialing one of the following numbers: All callers will need to reference "Blue Owl Technology Finance Corp." once connected with the operator. All callers are asked to dial in 10-15 minutes prior to the call so that name and company information can be collected. Replay Information: An archived replay will be available via a webcast link located on the News & Events section of OTF's website for one year, and via the dial-in numbers listed below for 14 days: ABOUT BLUE OWL TECHNOLOGY FINANCE CORP. Blue Owl Technology Finance Corp. (NYSE: OTF) is a specialty finance company focused on making debt and equity investments to U.S. technology-related companies, with a strategic focus on software. As of March 31, 2026, OTF had investments in 203 portfolio companies with an aggregate fair value of $14.1 billion. OTF has elected to be regulated as a business development company under the Investment Company Act of 1940, as amended. OTF is externally managed by Blue Owl Technology Credit Advisors LLC, an SEC-registered investment adviser that is an indirect affiliate of Blue Owl Capital Inc. ("Blue Owl") (NYSE: OWL) and part of Blue Owl's Credit platform. Certain information contained herein may constitute "forward-looking statements" that involve substantial risks and uncertainties. Such statements involve known and unknown risks, uncertainties and other factors and undue reliance should not be placed thereon. These forward-looking statements are not historical facts, but rather are based on current expectations, estimates and projections about OTF, its current and prospective portfolio investments, its industry, its beliefs and opinions, and its assumptions. Words such as "anticipates," "expects," "intends," "plans," "will," "may," "continue," "believes," "seeks," "estimates," "would," "could," "should," "targets," "projects," "outlook," "potential," "predicts" and variations of these words and similar expressions are intended to identify forward-looking statements. These statements are not guarantees of future performance and are subject to risks, uncertainties and other factors, some of which are beyond OTF's control and difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements including, without limitation, the risks, uncertainties and other factors identified in OTF's filings with the SEC. Investors should not place undue reliance on these forward-looking statements, which apply only as of the date on which OTF makes them. OTF does not undertake any obligation to update or revise any forward-looking statements or any other information contained herein, except as required by applicable law. INVESTOR CONTACTS Investor Contact: BDC Investor Relations Michael Mosticchio [email protected] Media Contact: [email protected]     NON-GAAP FINANCIAL MEASURES On a supplemental basis, the Company is disclosing certain adjusted financial measures, each of which is calculated and presented on a basis of methodology other than in accordance with GAAP ("non-GAAP"). The Company's management utilizes these non-GAAP financial measures to internally analyze and assess financial results and performance. These measures are also considered useful by management as an additional resource for investors to evaluate the Company's ongoing results and trends, as well as its performance, excluding non-cash income and expenses. The presentation of non-GAAP measures is not intended to be a substitute for financial results prepared in accordance with GAAP and should not be considered in isolation. The following table provides a reconciliation of net investment income (the most comparable U.S. GAAP measure) to adjusted net investment income for the periods presented: The following table provides a reconciliation of net increase (decrease) in net assets resulting from operations (the most comparable U.S. GAAP measure, or net income) to adjusted net increase (decrease) in net assets resulting from operations (or adjusted net income) for the periods presented:   View original content: https://www.prnewswire.com/news-releases/blue-owl-technology-finance-corp-announces-march-31-2026-financial-results-302764668.html

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