Oxford Square Capital Corp

Oxford Square Capital Corp. closed out fiscal 2025 on a difficult note, posting Q4 earnings per share of $0.07 against total investment income of $10.40 million, as a surge in unrealized depreciation overshadowed modestly improving income trends. The quarter's defining pressure point was approximately $16.00 million in net unrealized depreciation across the investment portfolio, which, combined with roughly $2.30 million in net realized losses, drove a net decrease in net assets from operations of approximately $12.90 million, even as net investment income reached approximately $5.40 million. NAV per share fell sharply to $1.69, down from $1.95 at the end of Q3 and from $2.30 at the start of the year, underscoring the portfolio erosion that defined the fiscal year. Full-year total investment income of $40.34 million compared unfavorably to $42.68 million in 2024, and the company's total return based on NAV was negative 8.26% for fiscal 2025. The Board maintained its distribution cadence, declaring monthly payments of $0.04 per share through June 2026.