**Oxford Square Capital Corp. Reports Financial Results for Fiscal Year 2025**
Oxford Square Capital Corp. (OXSQ), a business development company (BDC), reported its financial results for the fiscal year ended December 31, 2025. The company, which aims to maximize its portfolio's total return, primarily invests in corporate debt securities and collateralized loan obligations (CLOs). Total investment income for 2025 was $40.3 million, a decrease from $42.7 million in 2024. This decline was mainly due to a $7.1 million decrease in stated interest income from debt investments, attributed to restructurings, refinancings, lower floating interest rates, and reduced average outstanding principal.
Operating expenses for the year totaled $17.7 million, an increase from $16.2 million in the previous year. This rise was primarily driven by a $1.4 million increase in interest expense. The company reported a net decrease in net assets resulting from operations of $18.7 million, or $0.25 per share, compared to a net increase of $5.9 million, or $0.09 per share, in 2024. This shift was largely due to $41.3 million in net realized and unrealized losses in 2025, compared to $20.6 million in losses in 2024.
During 2025, Oxford Square Capital Corp. purchased approximately $92.1 million of investments, including $57.9 million in senior secured notes, $30.2 million in CLO equity, and $4.0 million in equity and other investments. The company also redeemed $44.8 million in aggregate principal amount of its 6.25% unsecured notes. As of December 31, 2025, the fair value of the investment portfolio was $251.7 million, allocated as 58.5% in senior secured notes, 37.8% in CLO equity, and 3.7% in equity and other investments.
Looking ahead, Oxford Square Capital Corp. intends to continue distributing a minimum of 90% of its ordinary income and short-term capital gains to maintain its status as a regulated investment company (RIC). The company's ability to pay distributions is subject to its financial performance, regulatory requirements, and the discretion of its Board of Directors. The company has authorized a 12-month share repurchase program, allowing it to repurchase up to $25.0 million of its outstanding common stock in the open market, with the timing and amount of repurchases determined at its discretion.
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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