OXSQ

MKT CAP:$166M

Oxford Square Capital Corp.

Market Cap

$166M

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

Financials·Asset Management·🇺🇸·NASDAQ

Stock Price

$1.88+$0.13 (+7.43%)

Apr 22, 2026

Company Details

Oxford Square Capital Corp. is a business development company, operates as a closed-end, non-diversified management investment company. It is a private equity and mezzanine firm. The firm invests in both public and private companies. It inv...

CEO

Jonathan H. Cohen

IPO Date

Nov 24, 2003

Website

www.oxfordsquarecapital.com

Key Metrics TTM

Revenue

$10M

+31.1% YoY

Net Income

-$3M

EPS (Diluted)

-$0.04

Free Cash Flow

$20M

Revenue / Share

$0.13

Gross Margin

17.7%

Operating Margin

-25.1%

Net Margin

-25.1%

FCF Margin

198.5%

P/S

16.3x

P/E

—

Earnings Reports

FY 2025

Mar 5, 2026

$24M+32.0%EPS -$0.25

Q3 2025

Nov 6, 2025

$2M-24.6%EPS -$0.03

Q2 2025

Aug 11, 2025

$7M-6.8%EPS $0.06

Q1 2025

Apr 30, 2025

-$5M-470.3%EPS -$0.12

FY 2024

Mar 5, 2025

$18M-46.9%EPS $0.09

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q3 21	$10M	$10M	$7M
Q4 21	$10M	$10M	$8M
Q1 22	$10M	$10M	$7M
Q2 22	$10M	$10M	$7M
Q3 22	-$7M	-$10M	-$11M
Q4 22	$12M	$12M	$10M
Q1 23	$13M	$13M	$11M
Q2 23	$16M	$13M	$12M
Q4 23	-$4M	-$6M	-$7M
Q1 24	$1M	-$577.3K	-$2M
Q2 24	$8M	$6M	$5M
Q3 24	$2M	$233.2K	-$874.5K
Q4 24	$6M	$4M	$3M
Q1 25	-$5M	-$7M	-$8M
Q2 25	$7M	$5M	$4M
Q3 25	$2M	-$903.6K	-$2M

Valuation

Quarter	P/S	P/E
Q3 21	2.4x	2.1x
Q4 21	4.5x	4.2x
Q1 22	4.4x	17.3x
Q2 22	4.2x	—
Q3 22	7.1x	—
Q4 22	6.6x	—
Q1 23	5.9x	—
Q2 23	4.9x	—
Q4 23	4.5x	—
Q1 24	6.3x	18.9x
Q2 24	7.7x	21.4x
Q3 24	21.3x	—
Q4 24	9.3x	28.3x
Q1 25	14.7x	—
Q2 25	15.4x	—
Q3 25	16.3x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q3 21	-$39M	-$39M
Q4 21	-$5M	-$5M
Q1 22	$11M	$11M
Q2 22	$13M	$13M
Q3 22	-$6M	-$6M
Q4 22	$2M	$2M
Q1 23	$7M	$7M
Q2 23	$21M	$21M
Q4 23	$6M	$6M
Q1 24	$8M	$8M
Q2 24	$6M	$6M
Q3 24	$6M	$6M
Q4 24	$6M	$6M
Q1 25	$5M	$5M
Q2 25	$4M	$4M
Q3 25	$5M	$5M

Capital Expenditures

Quarter	CapEx
Q3 21	$0
Q4 21	$0
Q1 22	$0
Q2 22	$0
Q3 22	$0
Q4 22	$0
Q1 23	$0
Q2 23	$0
Q4 23	$1
Q1 24	$1
Q2 24	$5
Q3 24	$1
Q4 24	$1
Q1 25	$4
Q2 25	$2
Q3 25	$3

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q3 21	+19.1%	+33.2%
Q4 21	-76.0%	-6.3%
Q1 22	+5.4%	-5.0%
Q2 22	+26.7%	-4.5%
Q3 22	-168.5%	+62.7%
Q4 22	+17.1%	-10.9%
Q1 23	+31.2%	-15.6%
Q2 23	+59.7%	+71.1%
Q4 23	+44.3%	-19.5%
Q1 24	-88.4%	+37.9%
Q2 24	-38.5%	+26.4%
Q3 24	-86.2%	-28.4%
Q4 24	+267.7%	-15.7%
Q1 25	-470.3%	-4.9%
Q2 25	-6.8%	+12.3%
Q3 25	-24.6%	+22.1%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q3 21	$0	0.0%
Q4 21	$0	0.0%
Q1 22	$0	0.0%
Q2 22	$0	0.0%
Q3 22	$0	—
Q4 22	$0	0.0%
Q1 23	$0	0.0%
Q2 23	$0	0.0%
Q4 23	$0	—
Q1 24	$0	0.0%
Q2 24	$0	0.0%
Q3 24	$0	0.0%
Q4 24	$0	0.0%
Q1 25	$0	—
Q2 25	$0	0.0%
Q3 25	$0	0.0%

OpEx Breakdown

Quarter	G&A	S&M
Q3 21	$3M	$13.0K
Q4 21	$2M	$442.8K
Q1 22	$3M	$15.0K
Q2 22	$2M	$15.0K
Q3 22	$856.3K	—
Q4 22	$2M	$395.8K
Q1 23	$2M	$19.0K
Q2 23	$712.1K	—
Q4 23	$465.5K	—
Q1 24	$658.4K	—
Q2 24	$938.6K	—
Q3 24	$754.5K	—
Q4 24	$509.9K	—
Q1 25	$678.7K	—
Q2 25	$804.4K	—
Q3 25	$709.4K	—

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$15M	$0	$15M
Q2 22	$23M	$0	$23M
Q3 22	$14M	$0	$14M
Q4 22	$9M	$0	$9M
Q1 23	$11M	$0	$11M
Q2 23	$43M	$0	$43M
Q3 23	$12M	$0	$12M
Q4 23	$6M	$0	$6M
Q1 24	$21M	$0	$21M
Q2 24	$30M	$0	$30M
Q3 24	$43M	$0	$43M
Q4 24	$35M	$0	$35M
Q1 25	$37M	$0	$37M
Q2 25	$30M	$0	$30M
Q3 25	$51M	$0	$51M
Q4 25	$52M	$0	$52M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q3 21	50M	+0.1%	+0.1%
Q4 21	50M	0.0%	+0.1%
Q1 22	50M	+0.1%	+0.2%
Q2 22	50M	+0.1%	+0.3%
Q3 22	50M	+0.1%	+0.3%
Q4 22	50M	+0.1%	+0.4%
Q1 23	50M	+0.1%	+0.3%
Q2 23	51M	+1.4%	+1.6%
Q4 23	59M	+17.3%	+19.1%
Q1 24	60M	+0.6%	+19.7%
Q2 24	61M	+1.7%	+21.7%
Q3 24	65M	+6.8%	+28.2%
Q4 24	63M	-2.1%	+7.0%
Q1 25	70M	+10.3%	+17.3%
Q2 25	73M	+4.7%	+20.8%
Q3 25	79M	+8.4%	+22.5%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q3 21	—	—
Q4 21	—	—
Q1 22	—	—
Q2 22	—	—
Q3 22	—	—
Q4 22	—	—
Q1 23	—	—
Q2 23	—	—
Q4 23	—	—
Q1 24	—	—
Q2 24	—	—
Q3 24	—	—
Q4 24	$330.2K	19
Q1 25	-$269.6K	19
Q2 25	$390.4K	19
Q3 25	$87.1K	19

Revenue / Employee