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Oxford Lane Capital (OXLC) investor relations material
Oxford Lane Capital Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Net asset value (NAV) per share declined to $19.19 as of September 30, 2025, down from $20.60 in the prior quarter, primarily due to unrealized depreciation and reflecting a one-for-five reverse stock split adjustment.
GAAP net investment income for the quarter was $81.4 million ($0.84/share), up from $75.1 million ($0.80/share) in the prior quarter; core net investment income was $120 million ($1.24/share), up from $112.4 million ($1.19/share).
The investment portfolio is heavily concentrated in CLO equity, representing 99% of holdings by fair value.
Net unrealized depreciation on investments was $68.5 million, with net realized losses of $18.1 million, resulting in a net decrease in net assets from operations of $5.3 million ($0.05/share).
Monthly common stock distributions of $0.40 per share were declared for January, February, and March 2026.
Financial highlights
GAAP total investment income for the quarter was $128.3 million, up $4.3 million from the previous quarter.
Weighted average yield of CLO debt investments at cost increased to 17.4% from 16.9% sequentially; weighted average effective yield of CLO equity investments at cost was 14.6%, slightly down from 14.7% last quarter.
Weighted average cash distribution yield of CLO equity investments at cost was 19.4%, down from 21.6% last quarter.
$366 million in newly issued or acquired CLO equity investments had not yet made initial distributions as of quarter-end.
Distributions paid remained steady at $1.35 per share for the quarter.
Outlook and guidance
Management remains open to increasing leverage if market opportunities warrant, but no specific target leverage ratio is set.
About half of the $366 million in new CLO investments are expected to make first payments next quarter, with the remainder the following quarter.
Management notes that past performance is not indicative of future results and highlights the uncertainty of achieving projected returns due to market and economic factors.
Forward-looking statements are subject to risks, including market volatility and the performance of underlying CLO assets.
Taxable income may differ materially from GAAP NII and Core NII.
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