Oxford Square Capital Board Approves $25 Million Share Buyback Initiative
Share Repurchase Program Announcement: The company announced a 12-month share repurchase program authorized by the Board of Directors on October 30, 2025.
Repurchase Amount: The program allows for the repurchase of up to $25.0 million of outstanding common stock in the open market during the specified period.
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- Earnings Announcement: Oxford Square Capital (OXSQ) is set to release its Q4 earnings on March 3rd before market open, with a consensus EPS estimate of $0.07, reflecting a 22.2% year-over-year decline, indicating a potential drop in profitability.
- Revenue Expectations: The anticipated revenue for Q4 is $10.14 million, showing a slight year-over-year decrease of 0.6%, which suggests challenges in revenue growth that could impact investor confidence.
- Historical Performance Review: Over the past two years, OXSQ has beaten EPS estimates 63% of the time and revenue estimates 50% of the time, indicating some volatility in profitability, but future performance remains a concern.
- Market Sentiment Analysis: Despite a history of exceeding expectations, market sentiment towards OXSQ's bonds has been unimpressive, and the ongoing decline in NAV (Net Asset Value) may continue, prompting investors to carefully assess holding risks.
- Net Investment Income: Oxford Square Capital reported net investment income of $5.4 million or $0.07 per share for Q4 2025, remaining stable compared to $5.6 million in the previous quarter, yet the net asset value per share declined to $1.69, indicating pressure on the investment portfolio amidst market volatility.
- Increased Investment Losses: The company recorded approximately $18.3 million in combined net unrealized and realized losses, translating to $0.22 per share, which is a significant increase from $7.5 million in the prior quarter, highlighting the deteriorating market conditions impacting the portfolio, particularly in the software and private credit sectors.
- New Investment Activity: During the quarter, the company made $18 million in new investment purchases and reported $7.4 million in repayments, demonstrating an active search for investment opportunities despite market uncertainties, while also issuing 4.3 million shares through an at-the-market offering, generating net proceeds of $7.9 million.
- Future Distribution Plans: The Board declared monthly distributions of $0.035 per share for April, May, and June 2026, and despite facing market challenges, management remains focused on long-term investment strategies aimed at maximizing total returns, reflecting the company's confidence in future prospects.
- Net Investment Income: Oxford Square Capital reported a GAAP net investment income of $0.07 for Q4, aligning with expectations and demonstrating the company's ability to maintain stable earnings.
- Investment Income Growth: Total investment income reached $10.4 million, reflecting a 2.0% year-over-year increase, beating market expectations by $0.26 million, indicating positive progress in portfolio management.
- Market Reaction Analysis: Despite the income growth, market disappointment regarding the performance of Oxford Square Capital's bonds may affect future investor confidence and sentiment.
- NAV Decline: The continued decline in the company's net asset value (NAV) aligns with market trends, potentially impacting long-term returns for investors and raising concerns about future performance.
- Earnings Call Announcement: Oxford Square Capital Corp. has announced a conference call scheduled for March 3, 2026, at 9:00 AM Eastern Time to discuss its fourth quarter 2025 earnings, aiming to provide investors and analysts with insights into its financial performance and future outlook.
- Dial-in Information: The toll-free dial-in number for the call is 1-800-715-9871, with access code 4928384, ensuring that participants can easily join and receive the latest financial data and company updates.
- Recording Replay Service: A recorded replay of the call will be available for 30 days post-event, allowing interested listeners to dial 1-800-770-2030 and use the replay passcode 4928384 to access information if they are unable to attend live.
- Company Background: Oxford Square Capital Corp. is a publicly traded business development company primarily investing in syndicated bank loans, with additional investments in debt and equity tranches of collateralized loan obligation (CLO) vehicles, showcasing its diversified investment strategy in the financial market.

Financial Performance Overview: Oxford Square Capital Corp. reported a net asset value (NAV) of $2.06 per share as of June 30, 2025, with a net investment income of approximately $5.5 million for the quarter, down from $6.1 million in the previous quarter. Total investment income also decreased to about $9.5 million.
Distributions and Share Activity: The company declared distributions of $0.035 per share for October, November, and December 2025, and issued approximately 4.9 million shares through an "at-the-market" offering, resulting in net proceeds of around $11.6 million.





