OTF

MKT CAP:$5B

Blue Owl Technology Finance Corp.

Market Cap

$5B

Financial Services·Asset Management·🇺🇸 United States·NYSE

Financials·Asset Management·🇺🇸·NYSE

Stock Price

$12.09-$2.11 (-14.86%)

Apr 20, 2026

Company Details

Blue Owl Technology Finance Corp. is a business development company specializes in upper middle-market, making debt and equity investments such as senior secured or unsecured loans, subordinated loans or mezzanine loans and equity-related s...

CEO

Craig William Packer

IPO Date

Jun 12, 2025

Website

www.blueowltechnologyfinance.com

Key Metrics TTM

Revenue

$908M

+69.2% YoY

Net Income

$615M

EPS (Diluted)

$2.64

Free Cash Flow

$520M

Revenue / Share

$3.86

Gross Margin

70.4%

Operating Margin

77.3%

Net Margin

67.8%

FCF Margin

57.3%

P/S

5.7x

P/E

8.4x

Earnings Reports

Q4 2025

May 6, 2026

PENDING

Q3 2025

Nov 5, 2025

$320M+84.3%EPS $1.00

Q2 2025

Aug 6, 2025

$295M+371.5%EPS $0.86

Q1 2025

May 12, 2025

$139M-5.3%EPS $0.33

FY 2024

Mar 6, 2025

$537M-8.6%EPS $1.52

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q4 23	$154M	$107M	$102M
Q1 24	$146M	$99M	$94M
Q2 24	$63M	$16M	$11M
Q3 24	$174M	$128M	$122M
Q4 24	$154M	$110M	$104M
Q1 25	$139M	$91M	$82M
Q2 25	$295M	$215M	$202M
Q3 25	$320M	$223M	$315M

Valuation

Quarter	P/S	P/E
Q4 23	—	—
Q1 24	—	—
Q2 24	—	—
Q3 24	7.0x	11.7x
Q4 24	7.0x	11.8x
Q1 25	7.1x	12.2x
Q2 25	4.7x	7.2x
Q3 25	3.7x	5.4x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q4 23	$74M	$74M
Q1 24	$79M	$79M
Q2 24	-$23M	-$23M
Q3 24	-$154M	-$154M
Q4 24	$162M	$162M
Q1 25	$609M	$609M
Q2 25	-$410M	-$410M
Q3 25	$160M	$160M

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q4 24	+0.1%	-3.1%
Q1 25	-5.3%	+7.8%
Q2 25	+371.5%	+79.3%
Q3 25	+84.3%	-88.5%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q4 23	$0	0.0%
Q1 24	$0	0.0%
Q2 24	$0	0.0%
Q3 24	$0	0.0%
Q4 24	$0	0.0%
Q1 25	$0	0.0%
Q2 25	$0	0.0%
Q3 25	$0	0.0%

OpEx Breakdown

Quarter	G&A
Q4 23	$3M
Q1 24	$3M
Q2 24	$4M
Q3 24	$3M
Q4 24	$4M
Q1 25	$5M
Q2 25	$6M
Q3 25	$6M

War Chest

Quarter	Cash	Short-term Investments	Total
Q4 23	$469M	$0	$469M
Q1 24	$500M	$0	$500M
Q2 24	$331M	$0	$331M
Q3 24	$186M	$0	$186M
Q4 24	$257M	$0	$257M
Q1 25	$991M	$0	$991M
Q2 25	$171M	$0	$171M
Q3 25	$397M	$0	$397M
Q4 25	$667.0K	$0	$667.0K

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q4 23	203M	—	—
Q1 24	208M	+2.4%	—
Q2 24	209M	+0.5%	—
Q3 24	210M	+0.6%	—
Q4 24	223M	+5.8%	+9.5%
Q1 25	235M	+5.7%	+13.1%
Q2 25	235M	0.0%	+12.6%
Q3 25	235M	0.0%	+11.9%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q4 23	—	—
Q1 24	—	—
Q2 24	—	—
Q3 24	—	—
Q4 24	$308.3K	500
Q1 25	$277.3K	500
Q2 25	$589.7K	500
Q3 25	$640.9K	500

Revenue / Employee