Blue Owl Technology Finance Corp.

Listed Company

OTFCIK 0001747777NYSELarge AcceleratedMarylandFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$720.37M

Total Assets

$14.72B

Equity

$8.04B

Shares Out

465.33M

Op. Cash Flow

$-915.95M

Business

Blue Owl Technology Finance Corp. is a closed-end management investment company and BDC that originates and makes loans and debt and equity investments in technology-related, particularly software, companies. It offers senior secured and unsecured loans, subordinated and mezzanine loans, and equity-related securities such as common equity, warrants and preferred stock, and may hold investments directly or through special purpose vehicles. The company is externally managed by Blue Owl Technology Credit Advisors and operates within Blue Owl’s Credit platform across strategies including technology lending, diversified lending, first-lien and opportunistic lending, specialty financing and joint ventures. It focuses primarily on companies based in the United States, sources investments through the Adviser’s origination channels and may co-invest or finance activities via credit facilities, securitizations and subscription lines.

Summary from filing dated 2025-03-06

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Payment-in-kind interest income	136	97	114	94	—
Payment-in-kind dividend income	34	43	37	31	—
Total Investment Income	1,145	684	684	495	354
Interest expense	321	193	196	137	94
Management fees, net	145	57	58	56	47
Performance based incentive fees	93	41	41	—	—
Capital gains incentive fees	38	−5	299,000	—	—
Professional fees	12	6	8	7	8
Listing advisory fees (net of Adviser reimbursement)	5	0	0	—	—
Directors' fees	1	1	1	1	1
Other general and administrative	11	6	4	4	4
Total Expenses	626	298	309	214	201
Net Investment Income (Loss) Before Taxes	520	386	375	281	153
Income tax expense (benefit), including excise tax expense (benefit)	7	11	9	8	5
Net Investment Income (Loss) After Taxes	512	374	366	273	148
Net change in unrealized gain (loss)	146	52	−7	−296	189
Translation of assets and liabilities in foreign currencies and other transactions	30	−263,000	3	488,000	−852,000
Income tax (provision) benefit	−702,000	−3,000	0	0	—
Total Net Change in Unrealized Gain (Loss)	175	51	−4	−295	188
Non-controlled, non-affiliated investments	55	−104	8	41	89
Foreign currency transactions	−21	−2	−2	−404,000	399,000
Total Net Realized Gain (Loss)	33	−106	7	41	89
Total Net Realized and Change in Unrealized Gain (Loss)	208	−55	3	−254	277
Net Increase (Decrease) in Net Assets Resulting from Operations	720	319	369	19	425
Earnings (Loss) Per Share - Basic (in USD per share)	—	1.52	1.8	0.09	3.05
Earnings (Loss) Per Share - Diluted (in USD per share)	—	1.52	1.8	0.09	3.05
Weighted Average Shares Outstanding - Basic (in shares)	409	210	205	201	139
Weighted Average Shares Outstanding - Diluted (in shares)	409	210	205	201	139

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Investments at fair value	14,286	6,407	6,132	6,411	—
Cash (restricted cash of $ and $, respectively)	282	253	—	—	—
Foreign cash (cost of $709 and $4,040, respectively)	667,000	4	6,000	—	—
Interest receivable	83	46	44	42	—
Dividend income receivable	6	2	6	6	—
Prepaid expenses and other assets	57	10	1	902,000	—
Total Assets	14,715	6,723	6,652	6,663	—
Net Carrying Value	6,288	2,915	2,947	3,158	—
Management fee payable	49	15	14	14	—
Distribution payable	186	71	77	59	—
Incentive fee payable	68	11	18	15	—
Payables to affiliates	64,000	2	—	—	—
Payable for investments purchased	3	53	24	0	—
Accrued expenses and other liabilities	80	31	41	27	—
Total Liabilities	6,673	3,097	3,122	3,276	—
Commitments and contingencies (Note 8)	—	—	—	—	—
Common shares $0.01 par value, 1,000,000,000 shares authorized; 464,047,623 and 212,155,118 shares issued and outstanding, respectively	5	2	2	2	—
Additional paid-in-capital	7,574	3,352	3,281	3,216	—
Total accumulated undistributed earnings	463	271	247	169	—
Total Net Assets	8,042	3,625	3,530	3,387	3,532
Total Liabilities and Net Assets	14,715	6,723	6,652	6,663	—
Net Asset Value Per Share (in USD per share)	17.33	17.09	17.03	16.7	17.65

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Purchases of investments, net	−3,765	−1,974	−849	−1,074	−4,110
Proceeds from investments and investment repayments, net	1,925	1,817	1,335	667	1,376
Net amortization/accretion of premium/discount on investments	−52	−42	−37	−23	−23
Net change in unrealized (gain) loss on interest rate swaps attributed to unsecured notes	19	0	0	—	—
Net change in unrealized (gain) loss on forward contracts	2	0	0	—	—
Net change in unrealized (gain) loss on translation of assets and liabilities in foreign currencies	−32	263,000	−3	—	—
Net realized (gain) loss on foreign currency transactions relating to investments	−8	15	22,000	2	−7,000
Net realized (gain) loss on foreign currency transactions relating to debt	29	0	0	—	—
Amortization of debt issuance costs	27	9	9	10	9
Cash acquired in the Mergers	647	0	0	—	—
(Increase) decrease in interest receivable	37	−6	462,000	2	−20
(Increase) decrease in dividend income receivable	−4	4	401,000	−5	−555,000
(Increase) decrease in paid-in-kind interest receivable	0	5	−3	−527,000	−5
(Increase) decrease in prepaid expenses and other assets	2	−9	−212,000	947,000	−1
Increase (decrease) in management fee payable	22	435,000	9,000	890,000	4
Increase (decrease) in incentive fee payable	46	−7	3	−23	31
Increase (decrease) in payables to affiliates	−2	784,000	−2	231,000	256,000
Increase (decrease) in payable for investments purchased	−50	29	24	−11	11
Increase (decrease) in accrued expenses and other liabilities	−110	−9	14	8	12
Net cash provided by (used in) operating activities	−916	64	708	−295	−2,619
Borrowings on debt	4,004	348	902	1,442	3,804
Payments on debt	−2,568	−382	−1,124	−903	−2,775
Debt issuance costs	−27	−12	−11	−11	−6
Repurchases of common stock	−73	0	0	—	—
Distributions paid	−394	−230	−209	−136	−83
Net cash provided by (used in) financing activities	942	−276	−443	392	2,644
Net increase (decrease) in cash and restricted cash, including foreign cash (restricted cash of $ and $, respectively)	26	−212	266	96	25
Interest paid during the period	305	189	173	120	76
Distributions declared during the period	608	307	300	211	123
Issuance of shares in connection with the Mergers	4,278	0	0	—	—
Taxes, including excise tax, paid during the period	12	10	8	4	324,000

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