The following is a summary of the Oxford Lane Capital Corporation (OXLC) Q2 2025 Earnings Call Transcript:
Financial Performance:
Oxford Lane reported a net asset value per share of $4.76, down from $4.91 in the previous quarter.
GAAP total investment income for Q2 was approximately $105.1 million, representing a increase from approximately $89.7 million last quarter.
GAAP net investment income was approximately $67.2 million or $0.22 per share, up from $56 million or $0.22 per share in the prior quarter.Core net investment income was approximately $99.4 million or $0.32 per share, down from $107.2 million or $0.41 per share.
Net unrealized depreciation on investments totaled approximately $52.5 million, with net realized gains of approximately $3.2 million.
Business Progress:
Oxford Lane made additional CLO investments of approximately $540 million during the quarter.
Issued about 48.1 million shares of common stock, resulting in net proceeds of approximately $252 million.
Opportunities:
The company observed a decrease in median weighted average spreads across loan pools within CLO portfolios and an increase in the U.S. Loan Price Index, indicating potentially improved market conditions.
Announced monthly common stock distributions of $0.09 per share for each of the months ending January, February, and March of 2025, reflecting confidence in steady cash flows.
Risks:
Performance of investments and market conditions led to a net unrealized depreciation of approximately $52.5 million, indicating potential volatility in asset valuations.
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