Oxford Square Capital Corp. reported its financial results for the first quarter of 2025, revealing a total investment income of approximately $10.2 million, a decrease from $10.7 million in the same period last year. The decline in income was primarily attributed to a reduction in interest income from debt investments, which fell to $5.5 million from $6.4 million year-over-year. The company also experienced net realized losses of approximately $12.2 million, contributing to a net decrease in net assets resulting from operations of $8.1 million, compared to a loss of $1.8 million in the prior year.
As of March 31, 2025, Oxford Square's total assets were valued at $285.5 million, down from $299.7 million at the end of 2024. The company's net assets decreased to $148.9 million, with a net asset value per share of $2.09, down from $2.30 at the end of the previous quarter. The company’s investment portfolio, which includes senior secured notes and collateralized loan obligations (CLOs), was valued at approximately $243.2 million, a decline from $260.9 million at the end of 2024. This decrease was driven by debt repayments, sales of investments, and net unrealized depreciation.
Operationally, Oxford Square made new investments totaling approximately $16 million during the quarter, while also experiencing repayments of $8.7 million and sales of $10.7 million in investments. The company’s portfolio consisted of 20 portfolio companies, with a fair value of $147.3 million in debt securities, $91.3 million in CLO equity investments, and $4.5 million in equity and other investments. The weighted average yield on debt investments was reported at approximately 14.31%.
Looking ahead, Oxford Square's management expressed caution regarding market conditions, particularly the impact of rising interest rates and economic uncertainties on its portfolio companies. The company continues to focus on maximizing total returns through its investment strategy, which primarily targets corporate debt securities and CLOs. The management remains committed to maintaining compliance with regulatory requirements as a business development company (BDC) and aims to provide significant managerial assistance to its portfolio companies.
About Oxford Square Capital Corp.
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