Technology

Blue Owl Capital Corporation Announces June 30, 2026 Financial Results

Published

2 months ago

August 5, 2026

NEW YORK, Aug. 5, 2026 /PRNewswire/ — Blue Owl Capital Corporation (NYSE: OBDC) (“OBDC” or the “Company”) today announced financial results for its second quarter ended June 30, 2026.

SECOND QUARTER 2026 HIGHLIGHTS

Second quarter GAAP net investment income (“NII”) per share of $0.36Second quarter adjusted NII per share(1) increased to $0.34, as compared to the prior quarter of $0.31Based on OBDC’s supplemental dividend framework, the Board of Directors (the “Board”) declared a second quarter supplemental dividend of $0.02 per shareDividends declared totaled $0.33 per share, representing an annualized dividend yield of 9.3%(2)Net asset value (“NAV”) per share of $14.26, as compared to $14.41 as of March 31, 2026, primarily reflecting markdowns on a small number of names, partially offset by over-earning the dividend and accretive share repurchasesNew investment commitments for the second quarter were $319 million and sales and repayments were $747 millionInvestments on non-accrual represented 2.8% and 0.8% of the portfolio at cost and fair value, respectively, as compared to 2.0% and 1.0% as of March 31, 2026The Company repurchased approximately $35 million of OBDC common stock, which was accretive to NAV per share in the second quarterAmended and extended the revolving credit facility with all banking partners renewing commitments and issued $800 million of unsecured debt during the second quarter

“We are pleased with OBDC’s performance this quarter, generating strong earnings resulting in a 9.6% annualized return on adjusted net investment income and healthy dividend coverage. Portfolio company operating trends remained stable, and credit performance continued to track in line with expectations,” said Craig W. Packer, Chief Executive Officer. “As market conditions continue to stabilize and investment opportunities become increasingly attractive, we believe OBDC is well positioned to deploy capital selectively. With leverage at a two-year low and a strong liquidity profile, we have meaningful flexibility to capitalize on compelling investment opportunities as we focus on delivering attractive risk-adjusted returns for shareholders.”

Dividend Declaration
On August 4, 2026 the Board declared a third quarter 2026 base dividend of $0.31 per share for stockholders of record as of September 30, 2026, payable on or before October 15, 2026.

The Board also declared a second quarter 2026 supplemental dividend of $0.02 per share, related to the Company’s second quarter 2026 earnings, for stockholders of record as of August 31, 2026, payable on or before September 15, 2026.

(1)

See Non-GAAP Financial Measures for a description of the non-GAAP measures and the reconciliations from the most comparable GAAP financial measures to the Company’s non-GAAP measures, including on a per share basis. The Company’s management utilizes these non-GAAP financial measures to internally analyze and assess financial results and performance. These measures are also considered useful by management as an additional resource for investors to evaluate the Company’s ongoing results and trends, as well as its performance, excluding non-cash income or gains related to the merger between the Company and Blue Owl Capital Corp. III (“OBDE”) (such merger, the “OBDE Merger”), which closed on January 13, 2025. The presentation of non-GAAP measures is not intended to be a substitute for financial results prepared in accordance with GAAP and should not be considered in isolation.

(2)

Dividend yield based on OBDC’s annualized Q2’26 base dividend of $0.31 per share payable to shareholders of record as of June 30, 2026, annualized Q2’26 supplemental dividend of $0.02 per share payable to shareholders of record as of August 31, 2026, and Q2’26 NAV per share of $14.26 less Q2’26 supplemental dividend per share of $0.02.

SELECT FINANCIAL HIGHLIGHTS

As of and for the Three Months Ended

($ in thousands, except per share amounts)

June 30, 2026

March 31, 2026

June 30, 2025

GAAP results:

Net investment income per share

$ 0.36

$ 0.32

$ 0.42

Net realized and unrealized gains (losses) per share

$ (0.22)

$ (0.37)

$ (0.15)

Net increase (decrease) in net assets resulting from operations per share

$ 0.13

$ (0.05)

$ 0.27

Non-GAAP financial measures(1):

Adjusted net investment income per share

$ 0.34

$ 0.31

$ 0.40

Adjusted net realized and unrealized gains (losses) per share

$ (0.21)

$ (0.36)

$ (0.13)

Adjusted net increase (decrease) in net assets resulting from operations per share

$ 0.13

$ (0.05)

$ 0.27

Base dividend declared per share

$ 0.31

$ 0.37

Supplemental dividend declared per share

$ 0.02

$ —

$ 0.02

Total investments at fair value

$ 14,955,049

$ 15,344,201

$ 16,868,782

Total debt outstanding (net of unamortized debt issuance costs)

$ 7,903,533

$ 8,454,559

$ 9,225,817

Net assets

$ 7,031,759

$ 7,154,000

$ 7,682,397

Net asset value per share

$ 14.26

$ 14.41

$ 15.03

Net debt-to-equity

1.11x

1.13x

1.17x

(1)

See Non-GAAP Financial Measures for a description of the non-GAAP measures and the reconciliations from the most comparable GAAP financial measures to the Company’s non-GAAP measures, including on a per share basis. The Company’s management utilizes these non-GAAP financial measures to internally analyze and assess financial results and performance. These measures are also considered useful by management as an additional resource for investors to evaluate the Company’s ongoing results and trends, as well as its performance, excluding non-cash income or gains related to the OBDE Merger. The presentation of non-GAAP measures is not intended to be a substitute for financial results prepared in accordance with GAAP and should not be considered in isolation.

PORTFOLIO COMPOSITION

As of June 30, 2026, the Company had investments in 229 portfolio companies across 30 industries, with an aggregate portfolio size of $15.0 billion at fair value and an average investment size of $65.3 million at fair value.

June 30, 2026

March 31, 2026

($ in thousands)

Fair Value

% of Total

Fair Value

% of Total

Portfolio composition:

First-lien senior secured debt investments1

$ 10,937,849

73.2 %

$ 11,035,403

72.1 %

Second-lien senior secured debt investments

674,223

4.5 %

773,357

5.0 %

Unsecured debt investments

377,224

2.5 %

369,374

2.4 %

Specialty finance debt investments

171,254

1.1 %

159,598

1.0 %

Preferred equity investments

262,536

1.8 %

536,853

3.5 %

Common equity investments

714,693

4.8 %

665,746

4.3 %

Specialty finance equity

1,426,590

9.5 %

1,414,987

9.2 %

Joint ventures

390,680

2.6 %

388,883

2.5 %

Total investments

$ 14,955,049

100.0 %

$ 15,344,201

100.0 %

(1)

The Company considers 52% and 51% of first-lien senior secured debt investments to be unitranche loans as of June 30, 2026 and March 31, 2026, respectively.

June 30, 2026

March 31, 2026

Number of portfolio companies

229

230

Percentage of debt investments at floating rates

96.0 %

96.1 %

Percentage of senior secured debt investments

78.8 %

78.1 %

Weighted average spread over base rate of floating rate debt investments

5.6 %

Weighted average total yield of accruing debt and income-producing securities at fair value

9.9 %

10.0 %

Weighted average total yield of accruing debt and income-producing securities at cost

9.9 %

10.0 %

Percentage of investments on non-accrual of the portfolio at fair value

0.8 %

1.0 %

PORTFOLIO AND INVESTMENT ACTIVITY

For the three months ended June 30, 2026, new investment commitments totaled $319 million across 5 new portfolio companies and 8 existing portfolio companies. For the three months ended March 31, 2026, new investment commitments were $676 million across 7 new portfolio companies and 16 existing portfolio companies.

For the three months ended June 30, 2026, the principal amount funded totaled $219 million and aggregate principal amount of sales and repayments totaled $747 million. For the three months ended March 31, 2026, the principal amount of new investments funded was $430 million and aggregate principal amount of sales and repayments was $1.5 billion.

For the Three Months Ended June 30,

($ in thousands)

2026

2025

New investment commitments:

Gross originations

$ 357,074

$ 1,116,767

Less: Sell downs

(37,750)

—

Total new investment commitments

$ 319,324

$ 1,116,767

Principal amount of new investments funded:

First-lien senior secured debt investments

$ 208,532

$ 587,980

Second-lien senior secured debt investments

—

205,340

Unsecured debt investments

—

Specialty finance debt investments

—

9,813

Preferred equity investments

—

2,914

Common equity investments

—

4,401

Specialty finance equity investments

5,239

84,114

Joint venture investments

4,844

11,473

Total principal amount of new investments funded

$ 218,615

$ 906,035

Drawdowns (repayments) on revolvers and delayed draw term loans, net

$ 210,160

$ 142,162

Principal amount of investments sold or repaid:

First-lien senior secured debt investments(1)

$ (432,759)

$ (1,612,475)

Second-lien senior secured debt investments

(33,720)

(178,056)

Unsecured debt investments

(2,040)

(24,233)

Specialty finance debt investments

—

Preferred equity investments

(255,888)

(4,933)

Common equity investments

(249)

(78,607)

Specialty finance equity investments

(22,043)

(8,583)

Joint venture investments

—

Total principal amount of investments sold or repaid

$ (746,699)

$ (1,906,887)

Number of new investment commitments in new portfolio companies(2)

Average new investment commitment amount in new portfolio companies

$ 49,525

$ 92,279

Weighted average term for new investment commitments (in years)

6.1

5.9

Percentage of new debt investment commitments at

floating rates

100.0 %

99.0 %

Percentage of new debt investment commitments at

fixed rates

— %

1.0 %

Weighted average interest rate of new investment commitments(3)

8.7 %

9.7 %

Weighted average spread over applicable base rate of new debt investment commitments at floating rates

4.9 %

5.4 %

(1)

Includes scheduled paydowns.

(2)

Number of new investment commitments represents commitments to a particular portfolio company.

(3)

Assumes each floating rate commitment is subject to the greater of the interest rate floor (if applicable) or 3-month SOFR, which was 3.73% and 4.29% as of June 30, 2026 and 2025, respectively.

RESULTS OF OPERATIONS FOR THE SECOND QUARTER ENDED JUNE 30, 2026

Investment Income
Investment income increased to $401 million for the three months ended June 30, 2026 from $397 million for the three months ended March 31, 2026, primarily driven by the impact of higher dividend income and non-recurring other income from a realization of a preferred equity investment, offset by a decline in average investments over the period. The Company expects that investment income will vary based on a variety of factors including the pace of originations and repayments, spreads of new deployments, and base rate movements.

Expenses
Total expenses decreased to $224 million for the three months ended June 30, 2026 from $235 million for the three months ended March 31, 2026, primarily driven by a decrease in interest expense from a decline in daily average borrowings from $9.3 billion to $8.4 billion. As a percentage of total assets, professional fees, directors’ fees and other general and administrative expenses remained relatively consistent period-over-period.

Liquidity and Capital Resources
As of June 30, 2026, the Company had $238 million in cash and restricted cash, $8.0 billion in total principal value of debt outstanding, including $4.2 billion of undrawn capacity(1) on the Company’s credit facilities and $5.3 billion of unsecured notes. The funding mix was composed of 33.6% secured and 66.4% unsecured borrowings as of June 30, 2026 on an outstanding basis. The Company was in compliance with all financial covenants under its credit facilities as of June 30, 2026. The Company has analyzed cash and cash equivalents, availability under its credit facilities, the ability to rotate out of certain assets and amounts of unfunded commitments that could be drawn and believes its liquidity and capital resources are sufficient to take advantage of market opportunities.

(1)

Reflects undrawn debt which is based on committed debt less debt outstanding as of June 30, 2026, and may not reflect the amount currently available due to borrowing base restrictions.

CONFERENCE CALL AND WEBCAST INFORMATION

Conference Call Information:
The conference call will be broadcast live on August 6, 2026 at 10:00 a.m. Eastern Time on the News & Events section of OBDC’s website at www.blueowlcapitalcorporation.com. To pre-register for the call, please use the following link: www.blueowlcapitalcorporation.com/webcast-registration?event_id=29120. Please visit the website before the webcast to test your connection.

Participants are also invited to access the conference call by dialing one of the following numbers:

Domestic: (877) 737-7048International: +1 (201) 689-8523

All callers will need to reference “Blue Owl Capital Corporation” once connected with the operator. All callers are asked to dial in 10-15 minutes prior to the call so that name and company information can be collected.

Replay Information:
An archived replay will be available for 14 days via a webcast link located on the News & Events section of OBDC’s website, and via the dial-in numbers listed below:

Domestic: (877) 660-6853International: +1 (201) 612-7415Access Code: 13761127

ABOUT BLUE OWL CAPITAL CORPORATION

Blue Owl Capital Corporation (NYSE: OBDC) is a specialty finance company focused on lending to U.S. middle-market companies. As of June 30, 2026, OBDC had investments in 229 portfolio companies with an aggregate fair value of $15.0 billion. OBDC has elected to be regulated as a business development company under the Investment Company Act of 1940, as amended. OBDC is externally managed by Blue Owl Credit Advisors LLC, an SEC-registered investment adviser that is an indirect affiliate of Blue Owl Capital Inc. (“Blue Owl”) (NYSE: OWL) and part of Blue Owl’s Credit platform.

Certain information contained herein may constitute “forward-looking statements” that involve substantial risks and uncertainties. Such statements involve known and unknown risks, uncertainties and other factors and undue reliance should not be placed thereon. These forward-looking statements are not historical facts, but rather are based on current expectations, estimates and projections about OBDC, its current and prospective portfolio investments, its industry, its beliefs and opinions, and its assumptions. Words such as “anticipates,” “expects,” “intends,” “plans,” “will,” “may,” “continue,” “believes,” “seeks,” “estimates,” “would,” “could,” “should,” “targets,” “projects,” “outlook,” “potential,” “predicts” and variations of these words and similar expressions are intended to identify forward-looking statements. These statements are not guarantees of future performance and are subject to risks, uncertainties and other factors, some of which are beyond OBDC’s control and difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements including, without limitation, the risks, uncertainties and other factors identified in OBDC’s filings with the SEC. Investors should not place undue reliance on these forward-looking statements, which apply only as of the date on which OBDC makes them. OBDC does not undertake any obligation to update or revise any forward-looking statements or any other information contained herein, except as required by applicable law.

INVESTOR CONTACTS

Investor Contact:
BDC Investor Relations
Michael Mosticchio
credit-ir@blueowl.com

Media Contact:
Head of Communications
Andrew Williams
media@blueowl.com

FINANCIAL HIGHLIGHTS

For the Three Months Ended

($ in thousands, except per share amounts)

June 30, 2026

March 31, 2026

June 30, 2025

Investments at fair value

$ 14,955,049

$ 15,344,201

$ 16,868,782

Total assets

$ 15,354,604

$ 16,018,541

$ 17,398,476

Net asset value per share

$ 14.26

$ 14.41

$ 15.03

GAAP results:

Total investment income

$ 401,342

$ 396,774

$ 485,843

Net investment income

$ 176,173

$ 159,170

$ 216,708

Net increase (decrease) in net assets resulting from operations

$ 65,739

$ (24,382)

$ 137,506

GAAP per share results:

Net investment income

$ 0.36

$ 0.32

$ 0.42

Net realized and unrealized gains (losses)

$ (0.22)

$ (0.37)

$ (0.15)

Net increase (decrease) in net assets resulting from operations(1)

$ 0.13

$ (0.05)

$ 0.27

Non-GAAP financial measures(2):

Adjusted total investment income

$ 395,726

$ 390,564

$ 474,907

Adjusted net investment income

$ 170,557

$ 152,960

$ 205,772

Adjusted net increase (decrease) in net assets resulting from operations

$ 65,739

$ (24,382)

$ 137,502

Non-GAAP per share financial measures(2):

Adjusted net investment income

$ 0.34

$ 0.31

$ 0.40

Adjusted net realized and unrealized gains (losses)

$ (0.21)

$ (0.36)

$ (0.13)

Adjusted net increase (decrease) in net assets resulting from operations(1)

$ 0.13

$ (0.05)

$ 0.27

Base dividend declared per share

$ 0.31

$ 0.37

Supplemental dividend declared per share

$ 0.02

$ —

$ 0.02

Weighted average yield of accruing debt and income producing securities at fair value

9.9 %

10.0 %

10.6 %

Weighted average yield of accruing debt and income producing securities at amortized cost

9.9 %

10.0 %

10.7 %

Percentage of debt investments at floating rates

96.0 %

96.1 %

97.6 %

(1)

Totals may not sum due to rounding.

(2)

See Non-GAAP Financial Measures for a description of the non-GAAP measures and the reconciliations from the most comparable GAAP financial measures to the Company’s non-GAAP measures, including on a per share basis. The Company’s management utilizes these non-GAAP financial measures to internally analyze and assess financial results and performance. These measures are also considered useful by management as an additional resource for investors to evaluate the Company’s ongoing results and trends, as well as its performance, excluding non-cash income or gains related to the OBDE Merger. The presentation of non-GAAP measures is not intended to be a substitute for financial results prepared in accordance with GAAP and should not be considered in isolation.

CONSOLIDATED STATEMENTS OF ASSETS AND LIABILITIES
(Amounts in thousands, except share and per share amounts)

As of June 30, 2026
(Unaudited)

As of December 31,
2025

Assets

Investments at fair value:

Non-controlled, non-affiliated investments (amortized cost of $12,793,396 and $14,060,097, respectively)

$ 12,439,882

$ 13,995,055

Non-controlled, affiliated investments (amortized cost of $190,543 and $176,078, respectively)

142,746

114,192

Controlled, affiliated investments (amortized cost of $2,129,577, and $2,181,604, respectively)

2,372,421

2,361,646

Total investments at fair value (amortized cost of $15,113,516 and $16,417,779, respectively)

14,955,049

16,470,893

Cash (restricted cash of $20,399 and $47,448, respectively)

237,438

558,703

Foreign cash (cost of $625 and $9,722, respectively)

611

9,839

Interest and dividend receivable

91,333

104,576

Receivable from a controlled affiliate

33,012

26,846

Prepaid expenses and other assets

37,161

15,508

Total Assets

$ 15,354,604

$ 17,186,365

Liabilities

Debt (net of unamortized debt issuance costs of $101,772 and $93,186, respectively)

$ 7,903,533

$ 9,300,076

Distribution payable

152,874

184,877

Management fee payable

57,348

63,145

Incentive fee payable

36,156

38,899

Payables to affiliates

8,457

12,572

Accrued expenses and other liabilities

164,477

189,517

Total Liabilities

$ 8,322,845

$ 9,789,086

Commitments and contingencies (Note 8)

Net Assets

Common shares $0.01 par value, 1,000,000,000 shares authorized; 493,142,569 and
499,448,499 shares issued and outstanding, respectively

$ 4,931

$ 4,994

Additional paid-in-capital

7,442,001

7,512,234

Accumulated undistributed (overdistributed) earnings

(415,173)

(119,949)

Total Net Assets

$ 7,031,759

$ 7,397,279

Total Liabilities and Net Assets

$ 15,354,604

$ 17,186,365

Net Asset Value Per Share

$ 14.26

$ 14.81

CONSOLIDATED STATEMENTS OF OPERATIONS
(Amounts in thousands, except share and per share amounts)
(Unaudited)

For the Three Months Ended
June 30,

For the Six Months Ended
June 30,

2026

2025

2026

2025

Investment Income

Investment income from non-controlled, non-affiliated investments:

Interest income

$ 272,242

$ 384,762

$ 564,166

$ 741,225

Payment-in-kind (“PIK”) interest income

29,145

29,581

56,379

64,973

Dividend income

17,971

20,810

38,180

42,341

Other income

19,960

5,268

23,118

10,858

Total investment income from non-controlled, non-affiliated investments

339,318

440,421

681,843

859,397

Investment income from non-controlled, affiliated investments:

Interest income

310

219

702

834

PIK interest income

169

865

257

1,904

Dividend income

3,575

555

6,770

555

Other income

Total investment income from non-controlled, affiliated investments

4,078

1,673

7,779

3,363

Investment income from controlled, affiliated investments:

Interest income

10,638

9,847

18,635

18,799

PIK interest income

2,272

—

6,431

—

Dividend income

44,678

33,869

82,867

68,874

Other income

358

561

Total investment income from controlled, affiliated investments

57,946

43,749

108,494

87,729

Total Investment Income

401,342

485,843

798,116

950,489

Operating Expenses

Interest expense

$ 122,983

$ 151,571

$ 257,299

$ 300,103

Management fees, net(1)

57,346

64,586

118,039

126,744

Performance based incentive fees

36,156

43,649

68,568

84,678

Professional fees

4,305

3,538

8,511

7,070

Directors’ fees

445

320

890

640

Other general and administrative

3,222

3,185

6,307

7,212

Total Operating Expenses

224,457

266,849

459,614

526,447

Net Investment Income (Loss) Before Taxes

176,885

218,994

338,502

424,042

Income tax expense (benefit), including excise tax expense (benefit)

712

2,286

3,159

6,032

Net Investment Income (Loss) After Taxes

$ 176,173

$ 216,708

$ 335,343

$ 418,010

Net Realized and Change in Unrealized Gain (Loss)

Net change in unrealized gain (loss):

Non-controlled, non-affiliated investments

$ (110,049)

$ (125,752)

$ (274,474)

$ 70,764

Non-controlled, affiliated investments

(9,673)

(14,711)

14,091

(15,411)

Controlled, affiliated investments

20,372

37,485

62,802

34,095

Translation of assets and liabilities in foreign currencies and other transactions

4,049

13,351

780

17,367

Income tax (provision) benefit

(207)

(200)

500

(1,762)

Total Net Change in Unrealized Gain (Loss)

(95,508)

(89,827)

(196,301)

105,053

Net realized gain (loss):

Non-controlled, non-affiliated investments

$ (9,477)

$ 20,834

$ 1,196

$ (131,098)

Non-controlled, affiliated investments

1,427

—

(37,795)

—

Controlled, affiliated investments

(6,032)

—

(62,388)

—

Foreign currency transactions

(844)

(10,209)

1,302

(11,828)

Total Net Realized Gain (Loss)

(14,926)

10,625

(97,685)

(142,926)

Total Net Realized and Change in Unrealized Gain (Loss)

(110,434)

(79,202)

(293,986)

(37,873)

Net Increase (Decrease) in Net Assets Resulting from Operations

$ 65,739

$ 137,506

$ 41,357

$ 380,137

Earnings Per Share – Basic and Diluted

$ 0.13

$ 0.27

$ 0.08

$ 0.76

Weighted Average Shares Outstanding – Basic and Diluted

495,377,115

511,048,237

497,130,632

502,981,791

(1)

Refer to “Note 3 — Agreements and Related Party Transactions” for additional details on management fee waiver.

NON-GAAP FINANCIAL MEASURES

On a supplemental basis, the Company is disclosing certain adjusted financial measures, each of which is calculated and presented on a basis of methodology other than in accordance with GAAP (“non-GAAP”). The Company’s management utilizes these non-GAAP financial measures to internally analyze and assess financial results and performance. These measures are also considered useful by management as an additional resource for investors to evaluate the Company’s ongoing results and trends, as well as its performance, excluding non-cash income or gains related to the OBDE Merger. The presentation of non-GAAP measures is not intended to be a substitute for financial results prepared in accordance with GAAP and should not be considered in isolation.

“Adjusted Total Investment Income” and “Adjusted Total Investment Income Per Share”: represents total investment income excluding any amortization or accretion of interest income resulting solely from the cost basis established by ASC 805 (see below) for the assets acquired in connection with the OBDE Merger.”Adjusted Net Investment Income” and “Adjusted Net Investment Income Per Share”: represents net investment income, excluding any amortization or accretion of interest income resulting solely from the cost basis established by ASC 805 (see below) for the assets acquired in connection with the OBDE Merger.”Adjusted Net Realized and Unrealized Gains (Losses)” and “Adjusted Net Realized and Unrealized Gains (Losses) Per Share”: represents net realized and unrealized gains (losses) excluding any net realized and unrealized gains (losses) resulting solely from the cost basis established by ASC 805 (see below) for the assets acquired in connection with the OBDE Merger.”Adjusted Net Increase (Decrease) in Net Assets Resulting from Operations” and “Adjusted Net Increase (Decrease) in Net Assets Resulting from Operations Per Share”: represents the sum of (i) Adjusted Net Investment Income and (ii) Adjusted Net Realized and Unrealized Gains (Losses).

The OBDE Merger was accounted for as an asset acquisition in accordance with the asset acquisition method of accounting as detailed in ASC 805-50, Business Combinations—Related Issues (“ASC 805”). The consideration paid to the stockholders of OBDE was allocated to the individual assets acquired and liabilities assumed based on the relative fair values of the net identifiable assets acquired other than “non-qualifying” assets, which established a new cost basis for the acquired investments under ASC 805 that, in aggregate, was different than the historical cost basis of the acquired investments prior to the OBDE Merger. Additionally, immediately following the completion of the OBDE Merger, the acquired investments were marked to their respective fair values under ASC 820, Fair Value Measurements, which resulted in unrealized appreciation/depreciation. The new cost basis established by ASC 805 on debt investments acquired will accrete/amortize over the life of each respective debt investment through interest income, with a corresponding adjustment recorded to unrealized appreciation/depreciation on such investment acquired through its ultimate disposition. The new cost basis established by ASC 805 on equity investments acquired will not accrete/amortize over the life of such investments through interest income and, assuming no subsequent change to the fair value of the equity investments acquired and disposition of such equity investments at fair value, the Company will recognize a realized gain/loss with a corresponding reversal of the unrealized appreciation/depreciation on disposition of such equity investments acquired.

The Company’s management uses the non-GAAP financial measures described above internally to analyze and evaluate financial results and performance and to compare its financial results with those of other business development companies that have not adjusted the cost basis of certain investments pursuant to ASC 805. The Company’s management believes “Adjusted Total Investment Income”, “Adjusted Total Investment Income Per Share”, “Adjusted Net Investment Income” and “Adjusted Net Investment Income Per Share” are useful to investors as an additional tool to evaluate ongoing results and trends for the Company without giving effect to the income resulting from the new cost basis of the investments acquired in the OBDE Merger because these amounts do not impact the fees payable to Blue Owl Credit Advisors LLC (the “Adviser”) under the fourth amended and restated investment advisory agreement (the “Investment Advisory Agreement”) between the Company and the Adviser, and specifically as its relates to “Adjusted Net Investment Income” and “Adjusted Net Investment Income Per Share”. In addition, the Company’s management believes that “Adjusted Net Realized and Unrealized Gains (Losses)”, “Adjusted Net Realized and Unrealized Gains (Losses) Per Share”, “Adjusted Net Increase (Decrease) in Net Assets Resulting from Operations” and “Adjusted Net Increase (Decrease) in Net Assets Resulting from Operations Per Share” are useful to investors as they exclude the non-cash income and gain/loss resulting from the OBDE Merger and are used by management to evaluate the economic earnings of its investment portfolio. Moreover, these metrics more closely align the Company’s key financial measures with the calculation of incentive fees payable to the Adviser under the Investment Advisory Agreement (i.e., excluding amounts resulting solely from the lower cost basis of the acquired investments established by ASC 805 that would have been to the benefit of the Adviser absent such exclusion).

The following table provides a reconciliation of total investment income (the most comparable U.S. GAAP measure) to adjusted total investment income for the periods presented:

For the Three Months Ended

($ in millions, except per share amounts)

June 30, 2026

March 31, 2026

June 30, 2025

Amount

Per Share

Amount

Per Share

Amount

Per Share

Total investment income

$ 401

$ 0.81

$ 397

$ 0.80

$ 486

$ 0.95

Less: purchase discount amortization

(6)

(0.01)

(6)

(0.01)

(11)

(0.02)

Adjusted total investment income(1)

$ 396

$ 0.80

$ 391

$ 0.78

$ 475

$ 0.93

The following table provides a reconciliation of net investment income (the most comparable U.S. GAAP measure) to adjusted net investment income for the periods presented:

For the Three Months Ended

($ in millions, except per share amounts)

June 30, 2026

March 31, 2026

June 30, 2025

Amount

Per Share

Amount

Per Share

Amount

Per Share

Net investment income

$ 176

$ 0.36

$ 159

$ 0.32

$ 217

$ 0.42

Less: purchase discount amortization

(6)

(0.01)

(6)

(0.01)

(11)

(0.02)

Adjusted net investment income(1)

$ 171

$ 0.34

$ 153

$ 0.31

$ 206

$ 0.40

The following table provides a reconciliation of net realized and unrealized gains (losses) (the most comparable U.S. GAAP measure) to adjusted net realized and unrealized gains (losses) for the periods presented:

For the Three Months Ended

($ in millions, except per share amounts)

June 30, 2026

March 31, 2026

June 30, 2025

Amount

Per Share

Amount

Per Share

Amount

Per Share

Net realized and unrealized gains (losses)

$ (110)

$ (0.22)

$ (184)

$ (0.37)

$ (79)

$ (0.15)

Net change in unrealized (appreciation) depreciation due to the purchase discount

0.01

0.02

Realized gain (loss) due to the purchase discount(2)

—

Adjusted net realized and unrealized gains (losses)(1)

$ (105)

$ (0.21)

$ (177)

$ (0.36)

$ (68)

$ (0.13)

The following table provides a reconciliation of net increase (decrease) in net assets resulting from operations (the most comparable U.S. GAAP measure) to adjusted net increase (decrease) in net assets resulting from operations for the periods presented:

For the Three Months Ended

($ in millions, except per share amounts)

June 30, 2026

March 31, 2026

June 30, 2025

Amount

Per Share

Amount

Per Share

Amount

Per Share

Net increase (decrease) in net assets resulting from operations

$ 66

$ 0.13

$ (24)

$ (0.05)

$ 138

$ 0.27

Less: purchase discount amortization

(6)

(0.01)

(6)

(0.01)

(11)

(0.02)

Net change in unrealized (appreciation) depreciation due to the purchase discount

0.01

0.02

Realized gain (loss) due to the purchase discount(2)

—

Adjusted net increase (decrease) in net assets resulting from operations(1)

$ 66

$ 0.13

$ (24)

$ (0.05)

$ 138

$ 0.27

(1)

Totals may not sum due to rounding.

(2)

Per share amounts round down to less than $0.01.

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SOURCE Blue Owl Capital Corporation

Technology

DAXIO Sets Three-Year Public-Market Pathway Towards a $1 Billion Valuation

Published

23 minutes ago

September 21, 2026

Founder-owned trade show and commercial-technology company combines 12 specialist US events, proprietary DealConnect technology, $35.7 million in annual commercial capacity and a high-margin AI-powered operating model

WEST PALM BEACH, Fla., Sept. 21, 2026 /PRNewswire-PRWeb/ — DAXIO today set out its three-year pathway towards a public-market listing and a $1 billion enterprise valuation.

“With 12 specialist events, proprietary DealConnect technology and $35.7 million in annual commercial capacity, DAXIO has a defined three-year pathway to a $1 billion valuation and public-market listing.” — Dawn Barclay-Ross, Founder and Chief Executive, DAXIO

Founded and wholly owned by international trade show organizer Dawn Barclay-Ross, DAXIO has established a portfolio of 12 specialist US events supported by proprietary DealConnect technology, qualified Hosted Buyer programmes and a portfolio-wide AI operating system.

The portfolio contains approximately $35.7 million in maximum annual commercial inventory capacity: $32.2 million in stand inventory and $3.54 million in sponsorship, advertising and Thought Leadership opportunities.

At 35%, 60% and 85% inventory realization, annual portfolio revenues are approximately $12.5 million, $21.4 million and $30.4 million respectively.

DAXIO’s current cost model indicates the potential for portfolio contribution margins above 90% at scale, reflecting its AI-powered infrastructure, centralized technology and capital-efficient operating structure.

“The next billion-dollar exhibition business will not resemble the last generation of exhibition groups,” said Barclay-Ross, Founder and Chief Executive of DAXIO.

“It will combine deep industry expertise with proprietary technology, intelligent automation and disciplined commercial execution. It will be faster, leaner and more accountable for the business value created at every event. That is DAXIO.”

Twelve events. One scalable commercial platform.

DAXIO’s 2027 portfolio comprises InfraBuild, PowerXpo, EnerWasteXpo, AgriTechXpo, BioGenomic Health Expo, Advanced Medical Device Show, NextGen MedTech Xpo, InsureCap, SmartMfg, AerospaceXpo, DefenseXpo and TalentTech.

Together, the events establish DAXIO across infrastructure, energy, environmental services, agriculture, healthcare, medical technology, insurance, manufacturing, aerospace, defense and workforce technology.

The portfolio has capacity for up to 5,856 stand-equivalent positions across the full commercially deployable event footprint.

Its multi-sector structure creates diversified revenue opportunities through stand sales, sponsorship, advertising, Thought Leadership, commercial partnerships and technology.

DealConnect moves the model beyond networking

DAXIO’s principal technology asset is DealConnect, created by Barclay-Ross to move business-event matchmaking beyond profile-swiping, unqualified introductions and chance encounters.

DealConnect assesses more than 500 data points across capability, compliance and financial dimensions to identify stronger-fit commercial opportunities during DAXIO events.

It operates alongside DAXIO’s qualified Hosted Buyer programmes. Approved buyers with purchasing responsibility and confirmed budgets may receive flights and hotel accommodation in return for agreeing to attend scheduled meetings with exhibitors during the event.

“Attendance is not the commercial outcome,” Barclay-Ross said. “The outcome is whether the right organizations meet, whether the opportunity is credible and whether that conversation can progress into business. DealConnect is designed around that standard.”

A three-year pathway to public markets

DAXIO’s public-market pathway is structured around five measurable drivers:

Converting revenue across the existing 12-event portfolioExtending the portfolio into further specialist and international marketsEstablishing recurring commercial revenues through DealConnectPreserving high margins through AI-powered executionAchieving institutional standards of governance, reporting and financial control

Barclay-Ross has applied 25 years of international trade show and business-development experience to create an integrated exhibitions and commercial-technology company without the inherited cost base of a conventional exhibition group.

DAXIO is wholly founder-owned and independent of private-equity ownership, institutional exhibition groups and external corporate control.

“The first 12 events give DAXIO significant commercial scale. DealConnect creates proprietary technology value. Our AI operating system provides the execution capacity to operate across multiple specialist markets while protecting margin,” Barclay-Ross said.

“The pathway is already defined: convert the existing inventory, extend the portfolio, establish recurring technology income and enter the public markets as a high-growth exhibitions and commercial-technology company.

“The platform exists. The commercial capacity is quantified. The margin model is compelling. The route is repeatable. DAXIO’s pathway to a $1 billion valuation is underway.”

Strategic capital window closes September 25

DAXIO’s current $200,000 strategic-capital participation window closes on Friday, September 25, 2026.

The capital will be deployed directly into revenue-generating activity across the existing portfolio, including exhibitor and sponsor acquisition, qualified-buyer development, commercial marketing, technology deployment and sales execution.

The current financing provides a time-limited opportunity for eligible investors to participate at the beginning of DAXIO’s three-year public-market pathway.

Confidential company and investment information is available to eligible investors and professional advisers directly from DAXIO.

About DAXIO

DAXIO is a founder-owned, independent trade show and commercial-technology company headquartered in Florida.

Its portfolio comprises 12 specialist US business events supported by proprietary DealConnect technology, qualified Hosted Buyer programmes and an AI-powered operating infrastructure.

DAXIO is executing a three-year pathway towards a $1 billion enterprise valuation and public-market listing.

Media and investor enquiries

Dawn Barclay-Ross
Founder and Chief Executive
DAXIO
dawn@infrabuildXpo.com
+1 561 785 3120

Media Contact

Dawn Barclay-Ross, Capital Connect International Events Inc dba DAXIO, 1 5617853120, dawn@capitalconnectevents.com, https://www.infrabuildxpo.com/

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SOURCE Capital Connect International Events Inc dba DAXIO

Technology

OpenCV Introduces Enterprise Support for Companies Building Products with Computer Vision

Published

23 minutes ago

September 21, 2026

Three service tiers offer long-term maintenance, OpenCV-certified binaries and direct engineering support. OpenCV remains free and open source.

PALO ALTO, Calif., Sept. 21, 2026 /PRNewswire/ — OpenCV today announced OpenCV Enterprise, a paid maintenance and engineering offering for organizations that depend on OpenCV in their products. The program brings together support for established deployments, priority help with production issues and ongoing engineering collaboration through three tiers: OpenCV Enterprise LTS, OpenCV Enterprise Premier and OpenCV Enterprise Partnership.

Organizations can explore the tiers and register at opencv.org/enterprise.

OpenCV Enterprise is a maintenance and engineering offering for organizations that depend on OpenCV in their products.

OpenCV Enterprise builds on OpenCV’s existing engineering collaborations with companies including Qualcomm Technologies and Arm. These efforts include strengthening native OpenCV support for Windows on Snapdragon through builds, automated testing and optimization, and improving performance on Arm-based platforms through integrations such as Arm KleidiCV. The Enterprise offering brings this platform engineering experience to organizations maintaining their own OpenCV-based products.

For companies building industrial inspection systems, medical imaging applications, robotics and embedded devices, maintaining a computer vision library is an ongoing engineering responsibility. An upgrade can require extensive integration and regression testing. Staying on an older version means continuing to assess security issues, maintain builds and resolve defects. OpenCV Enterprise helps companies manage that work within an agreed support scope and product lifecycle.

“Companies need to support the products their customers already use while continuing to develop what comes next,” said Dr. Satya Mallick, CEO of OpenCV. “OpenCV Enterprise gives those teams a direct engineering relationship with OpenCV, with clear responsibilities for maintenance, testing and support. The library remains free and open source.”

Three tiers for different product needs

OpenCV Enterprise LTS — US$150,000 per year. For teams maintaining a stable OpenCV integration over a defined product lifecycle. LTS includes applicable security backports, covered severe-defect remediation, agreed regression testing, a named service owner and 10 engineering days annually. It helps companies keep established products supported while planning upgrades around their own release schedules.OpenCV Enterprise Premier — US$250,000 per year. For teams that need priority engineering support when OpenCV issues affect production or delay releases. Premier builds on LTS with a named technical lead, product-specific qualification, monthly technical reviews and 30 engineering days annually. It gives engineering teams a clear escalation path and additional capacity to address deployment-specific problems.OpenCV Enterprise Partnership — from US$400,000 per year. For organizations requiring continuing engineering collaboration across custom forks, platforms and hardware generations. Partnership builds on Premier with 60 reserved engineering days annually, an agreed development backlog and quarterly roadmap planning. Work can include optimization, fork maintenance, test integration and scoped migration or porting.

Every delivered Enterprise binary will be certified by OpenCV

Certification ties each supplied binary to its source, build configuration and qualification results. Deliverables include signed builds, source and patches, a software bill of materials, test results, change notes and a release certificate for the supported configurations.

For companies maintaining private OpenCV forks, the service can also address gaps in automated testing and ongoing maintenance. An internal fork may not have the breadth of build-and-test coverage available through OpenCV’s continuous integration infrastructure. Enterprise qualification defines the configurations and regression checks needed for the customer’s deployment; it does not imply testing on every hardware platform.

OpenCV certification applies to the supplied software and agreed configurations. Customers retain responsibility for final product validation and any required regulatory or functional-safety approvals.
The tiers use three-year agreements billed annually. Initial qualification is priced separately, and support for older releases or private forks begins with a supportability assessment. Covered components, configurations, service windows and maintenance commitments are defined in the agreement.

Organizations can explore the tiers and register at opencv.org/enterprise. Registration creates no purchase commitment. OpenCV Enterprise is an optional paid service; OpenCV remains free and open source.

About OpenCV

OpenCV is an open-source library for computer vision, image processing and AI. It is operated by the Open Source Vision Foundation, a nonprofit supporting the beneficial use of computer vision through open collaboration and freely available software. Learn more at opencv.org.

Media contact

Phil Nelson
Director of Content & Creative, OpenCV
phil@opencv.org

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SOURCE OpenCV

Technology

NICB Announces Leadership Transition

Published

23 minutes ago

September 21, 2026

OAK BROOK, Ill., Sept. 21, 2026 /PRNewswire/ — The National Insurance Crime Bureau (NICB), the insurance industry’s association dedicated to predicting, preventing, and prosecuting insurance crime and fraud, announces that David Glawe will step down as President and Chief Executive Officer in October after six years of service leading the nonprofit organization.

“On behalf of the Board of Governors, I want to thank David for his six years of service to NICB and his commitment to its important mission,” said Nick Seminara, Chairman of the NICB Board of Governors. “We appreciate his contributions to the organization and wish him well as he prepares for his next chapter.”

Glawe reflected on his time with NICB and the organization’s mission:

“It has been a privilege to serve NICB and to work alongside such a talented and committed team. I have tremendous respect for the work they do every day and for the mission we share—bringing together the insurance industry, law enforcement, and our many partners to fight insurance fraud and crime and protect the public.

I am proud of what we have accomplished together over the past six years and grateful for the dedication, expertise, and commitment I have seen throughout the organization.”

Glawe will work with the Board and NICB leadership team through his departure to support an orderly transition. The Board will announce its leadership transition plans at the appropriate time.

NICB remains focused on its mission and on continuing to strengthen its capabilities and partnerships in the fight against insurance crime and fraud.,

About the National Insurance Crime Bureau: Headquartered in Oak Brook, Ill., the National Insurance Crime Bureau (NICB) is the nation’s leading not-for-profit organization exclusively dedicated to combatting and preventing insurance crime through Intelligence, Analytics, and Operations; Education and Crime Prevention; and Strategy, Policy, and Advocacy. NICB is supported by more than 1,200 property and casualty insurance companies and self-insured organizations. To learn more, visit NICB.org.

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SOURCE National Insurance Crime Bureau (NICB)