Oxford Square reports 44% drop in per-share earnings as realized losses double to $31M

Filed May 1, 2026 · Period ending March 31, 2026 · Compared to 10-Q May 1, 2025 · ~2 min read

Key Changes

• high

  Net investment income per share fell 44% to $0.05 from $0.09 year-over-year, driven by 13% decline in investment income and 40% jump in interest expense from new 7.75% notes issued August 2025.

  MD&A: Net Investment Income verify on EDGAR →
• high

  Realized losses surged to $30.7M from $12.2M prior year, primarily from a loan restructuring and CLO equity extinguishment. CLO equity value dropped 21% to $72.2M with yields falling 170bp to 7.3%.

  MD&A: Realized Losses & CLO Performance verify on EDGAR →
• high

  Asset coverage ratio declined to 177% from 218%, moving closer to 150% regulatory minimum after $30M debt increase. Total debt now $155M at 6.58% weighted average rate, up 81bp.

  MD&A: Leverage & Asset Coverage verify on EDGAR →