Monitor the trajectory of net realized losses and NAV erosion; the ATM issuance adds dilution risk. The maintained $0.105 quarterly distribution provides a yield backstop but is not supported by NII per share of $0.04.
Price Chart
Executive Summary
Oxford Square Capital Corp. reported Q3 2026 net investment income of $0.04 per share, below the $0.05 consensus estimate, and total investment income of $9.9M versus the $9.5M consensus. NAV per share declined to $1.21 from $1.29 in the prior quarter, driven by $11.3M in net realized losses partially offset by $7.9M in unrealized appreciation. The company issued 14.1M shares via ATM offering, increasing share count by ~13%.
Key Financial Metrics
Key Facts
- NII per share of $0.04 missed the $0.05 consensus estimate
- Total investment income of $9.9M exceeded the $9.5M consensus
- NAV per share fell to $1.21 from $1.29 at June 30, 2026
- Net realized losses of $11.3M in the quarter
- Issued 14.1M shares via ATM, raising $19.4M net proceeds; shares outstanding rose to 120.0M from 86.1M at year-end 2025
- Quarterly distribution maintained at $0.105 per share
- Weighted average yield on debt investments was 15.0% vs 14.9% prior quarter
Financial Impact
NII miss of $0.01 per share vs consensus; NAV decline of 6.2% QoQ; 13% dilution from ATM issuance
Risk Factors
- Continued NAV decline and realized losses could pressure the distribution
- Dilution from ATM offerings may weigh on per-share metrics
- Non-accrual status on preferred equity investments ($6.8M fair value) signals credit stress
Market Snapshot
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3392180 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 30, 2026 2d ago | 8-K | No price | awaiting T+60 | awaiting T+60 | No price |
Oct 30, 2026 2d ago | Press Release | $1.13 | awaiting T+60 | awaiting T+60 | $0.9200 (+18.58%) |
Oct 23, 2026 9d ago | Press Release | $1.18 | awaiting T+60 | awaiting T+60 | $0.9200 (−22.03%) |
Jul 31, 2026 13w ago | 8-K | $1.41 $1.22 | ▲ +13.40% | ▲ +15.18% | $0.9200 (+34.66%) |
Jul 31, 2026 13w ago | 8-K | $1.55 $1.18 | ▲ +23.87% | ▲ +26.33% | $0.9200 (+40.65%) |
Jul 31, 2026 13w ago | Press Release | $1.55 $1.18 | ▲ +23.87% | ▲ +26.33% | $0.9200 (+40.65%) |
May 21, 2026 23w ago | Insider Cluster | $1.38 $1.42 | ▲ +2.90% | ▼ −1.40% | $0.9200 (−33.33%) |
Apr 29, 2026 26w ago | Press Release | $1.59 $1.31 | ▲ +17.87% | ▲ +22.00% | $0.9200 (+42.15%) |
Apr 22, 2026 27w ago | Press Release | $1.64 $1.36 | ▼ −17.08% | ▼ −22.97% | $0.9200 (−43.98%) |
Mar 3, 2026 34w ago | Press Release | $1.75 $1.32 | ▲ +24.60% | ▲ +34.91% | $0.9200 (+47.45%) |
US Market Status
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