Blue Owl Technology Finance Corp. · NYSE:OTF
Blue Owl Technology Finance — Q4 2023 Earnings Presentation
12 slides from Blue Owl Technology Finance's earnings presentation, March 2024
Slide 1: Blue Owl Technology Finance Corp. Quarterly Earnings Presentation
December 31, 2023 Blue Owl Technology Finance Corp. Quarterly Earnings Presentation FOR EXISTING INVESTORS ONLY. OTF IS CLOSED TO NEW INVESTMENTS. 1
Slide 2: Review of Q4 2023
Review of Q4 2023 • Net asset value per share of $17.03, up from $16.91 as of 9/30/2023 • Net investment income per share of $0.48, up from $0.47 as of 9/30/2023 Earnings Summary • Net income per share of $0.49, up from $0.28 as of 9/30/2023 • Annualized ROE on net investment income and net income o
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 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Net Investment Income Per Share $0.40 $0.40 $0.43 $0.47 $0.48 Net Realized a
Slide 4: Portfolio Highlights - Selected Metrics
Portfolio Highlights - Selected Metrics As of and For Three Months Ended Dec. 31, 2022 Mar. 31, 2023 Jun. 30, 2023 Sept. 30, 2023 Dec. 31, 2023 (Dollar amounts in thousands) Investments at Fair Value $6,411,389 $6,516,494 $6,431,900 $6,246,307 $6,132,022 Number of Portfolio Companies 118 121 119 122
Slide 5: Portfolio Highlights – New Portfolio Activity
Portfolio Highlights – New Portfolio Activity For Three Months Ended (Dollar amounts in thousands) Dec. 31, 2022 Mar. 31, 2023 Jun. 30, 2023 Sept. 30, 2023 Dec. 31, 2023 Investment Activity at Par: New Investment Commitments (Net of Sell Downs) $125,095 $33,196 $59,575 $298,924 $481,237 New Investm
Slide 6: Portfolio Highlights – Asset Mix
Portfolio Highlights – Asset Mix 127 28 $173mm $6.1bn Portfolio Portfolio Portfolio Company 10.6% Portfolio Size EBITDA1 Portfolio Yield2 Companies Industries (Traditional Financing) Weighted Average Borrower Statistics1: 7% Traditional Q3 2023 Q4 2023 14% (71.8% of portfolio by FV) Revenue $646mm
Slide 7: Portfolio Highlights – Diversification
Portfolio Highlights – Diversification Borrower Diversification Industry Diversification Systems Software 24.7% Inovalon: 3.6% Boomi: 3.2% Health Care Technology 14.4% Acquia: 3.1% Arctic Wolf: 2.9% Application Software 14.0% Pluralsight: 2.6% Intelerad: 2.6% Professional Services 7.7% Vector Soluti
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 Dec. 31, 2022 Mar. 31, 2023 Jun. 30, 2023 Sept. 30, 2023 Dec. 31, 2023 based period end shares, except as otherwise noted) Assets Investments at Fair Value $6,411,389 $6,516,494 $
Slide 9: Quarterly Operating Results Detail
Quarterly Operating Results Detail For the Three Months Ended (Dollar and share amounts in thousands) Dec. 31, 2022 Mar. 31, 2023 Jun. 30, 2023 Sept. 30, 2023 Dec. 31, 2023 Investment Income Interest Income $139,807 $150,930 $160,670 $162,163 $166,825 Dividend Income $8,418 $8,953 $9,585 $9,819 $10
Slide 10: Portfolio Highlights – Internal Portfolio Ratings
Portfolio Highlights – Internal Portfolio Ratings Non-accrual investments at 12/31/2023 as a percentage of total debt investments at cost and fair value were 0.3% and 0.3%, respectively. At quarter end 12/31/2023, there was 1 portfolio company on non-accrual. (Dollar amounts in thousands) Internal
Slide 11: Financing Landscape
Financing Landscape Aggregate Principal Amount Principal Committed / Amount Outstanding Outstanding Interest Rate Maturity Date Debt Maturities ($mm) Revolving Credit Aggregate Committed ($mm) $1,090 million $343 million SOFR + 175 9/26/2028 Facility Secured Revolver $1,090 Bi-Lateral Bank Facilitie
Slide 12: Important Information
Important Information Unless otherwise noted the Report Date referenced herein is as of 12/31/2023. 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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