Blue Owl Technology Finance Corp. · NYSE:OTF
Blue Owl Technology Finance — Q1 2024 Earnings Presentation
12 slides from Blue Owl Technology Finance's earnings presentation, May 2024
Slide 1: Blue Owl Technology Finance Corp. Quarterly Earnings Presentation
March 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 Q1 2024
Review of Q1 2024 • Net asset value per share of $17.10, up from $17.03 as of 12/31/2023 • Net investment income per share of $0.45, down from $0.49 as of 12/31/2023 Earnings Summary • Net income per share of $0.44, down from $0.49 as of 12/31/2023 • Annualized ROE on net investment income and net i
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 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Net Investment Income Per Share $0.40 $0.43 $0.47 $0.48 $0.45 Net Realized a
Slide 4: Portfolio Highlights - Selected Metrics
Portfolio Highlights - Selected Metrics As of and For Three Months Ended March 31, 2023 June 30, 2023 September 30, December 31, March 31, 2024 (Dollar amounts in thousands) 2023 2023 Investments at Fair Value $6,516,494 $6,431,900 $6,246,307 $6,132,022 $6,077,188 Number of Portfolio Companies 121 1
Slide 5: Portfolio Highlights – New Portfolio Activity
Portfolio Highlights – New Portfolio Activity For Three Months Ended (Dollar amounts in thousands) March 31, 2023 June 30, 2023 September 30, December 31, March 31, 2024 2023 2023 Investment Activity at Par: New Investment Commitments (Net of Sell Downs) $33,196 $59,575 $298,924 $481,237 $343,055 N
Slide 6: Portfolio Highlights – Asset Mix
Portfolio Highlights – Asset Mix 130 27 $175mm $6.1bn Portfolio Portfolio Portfolio Company 10.6% Portfolio Size EBITDA1 Portfolio Yield2 Companies Industries (Traditional Financing) Weighted Average Borrower Statistics1: 7% Traditional Q4 2023 Q1 2024 14% (72.7% of portfolio by FV) Revenue $646mm
Slide 7: Portfolio Highlights – Diversification
Portfolio Highlights – Diversification Borrower Diversification Industry Diversification Systems Software 25.1% Inovalon: 3.7% Boomi: 3.2% Health Care Technology 14.8% Acquia: 3.0% Arctic Wolf: 2.9% Application Software 13.4% Intelerad: 2.7% Diversified Financial Services 7.1% Vector Solutions: 2.6%
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, 2023 June 30, 2023 September 30, 2023 December 31, 2023 March 31, 2024 based period end shares, except as otherwise noted) Assets Investments at Fair Value $6,516,494 $6
Slide 9: Quarterly Operating Results Detail
Quarterly Operating Results Detail For the Three Months Ended (Dollar and share amounts in thousands) March 31, 2023 June 30, 2023 September 30, 2023 December 31, 2023 March 31, 2024 Investment Income Interest Income $150,930 $160,670 $162,163 $166,825 $159,475 Dividend Income $8,953 $9,585 $9,819
Slide 10: Portfolio Highlights – Internal Portfolio Ratings
Portfolio Highlights – Internal Portfolio Ratings Non-accrual investments at 3/31/2024 as a percentage of total debt investments at cost and fair value were 0.3% and 0.3%, respectively. At quarter end 3/31/2024, there was 1 portfolio company on non-accrual. (Dollar amounts in thousands) Internal Ju
Slide 11: Financing Landscape
Financing Landscape Aggregate Principal Principal Amount Amount Interest Rate Maturity Date Committed / Outstanding Outstanding Debt Maturities ($mm) Revolving Credit Aggregate Committed ($mm) $1,115 million $349 million SOFR + 175 9/26/2028 Facility Secured Revolver $1,115 Bi-Lateral Bank Facilitie
Slide 12: Important Information
Important Information Unless otherwise noted the Report Date referenced herein is as of 3/31/24. 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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