Oxford Square Capital Corp. (OXSQ) reported its financial results for the third quarter of 2025, revealing a total investment income of approximately $10.2 million, a slight decrease from $10.3 million in the same period last year. For the nine months ending September 30, 2025, total investment income was approximately $29.9 million, down from $32.5 million in the prior year. The decline in income was primarily attributed to a decrease in interest income, which fell to $5.2 million for the quarter compared to $6.1 million in the previous year, alongside an increase in interest expenses.
The company's net investment income for the third quarter was approximately $5.6 million, translating to $0.07 per share, down from $6.2 million or $0.10 per share in the same quarter of 2024. For the nine-month period, net investment income was approximately $17.2 million, or $0.23 per share, compared to $20.4 million, or $0.33 per share, in the prior year. The net decrease in net assets resulting from operations was approximately $2.1 million for the quarter and $5.8 million for the nine months, contrasting with a net increase of $2.6 million for the same period in 2024.
As of September 30, 2025, Oxford Square Capital's total assets were approximately $314.7 million, an increase from $299.7 million at the end of 2024. The company’s liabilities also rose to $155.8 million from $139.1 million, primarily due to the issuance of new unsecured notes. The net asset value per share decreased to $1.95 from $2.30 at the end of the previous fiscal year. The company had 81,669,408 shares outstanding as of November 5, 2025.
In terms of strategic developments, Oxford Square Capital engaged in significant investment activity, acquiring approximately $74.2 million in new portfolio investments during the nine months ended September 30, 2025. This included $27.9 million in existing portfolio companies and $46.3 million in new investments. The company also reported a weighted average annualized yield on debt investments of approximately 14.60% as of the end of the reporting period.
Looking ahead, the company has authorized a share repurchase program of up to $25 million, which is expected to be in effect until October 30, 2026. The management remains focused on maximizing total returns through investments in corporate debt securities and collateralized loan obligations, while also navigating the challenges posed by market conditions and interest rate fluctuations.
About Oxford Square Capital Corp.
Oxford Square Capital Corp. is a non-diversified management investment company regulated as a business development company (BDC). It primarily invests in corporate debt securities, collateralized loan obligations (CLOs), and related structured finance assets to generate risk-adjusted total returns. The company focuses on middle-market companies, leveraging extensive credit analysis, a strong sourcing network, and active portfolio monitoring to provide financing that supports growth, acquisitions, and recapitalizations.
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