OXSQ earnings analysis
What we found in OXSQ's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Oxford Square Capital reported Q2 2026 revenue of $9.402 million and EPS of $0.05, with revenue 12.98% above consensus and EPS 25% above the $0.04 estimate. EPS was stable versus Q1 2026, while the available history indicates Q2 EPS declined from $0.08 in Q2 2025. The filing provides no quantitative guidance, and the principal forward-looking signal is substantial interest-rate sensitivity: modeled investment income changes range from negative 13.5% at a 300-basis-point rate decline to positive 14.5% at a 300-basis-point increase.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue Rebounded and Beat Estimates
- Q2 2026 revenue was $9.402 million, up from approximately $9 million in Q1 2026 and 12.98% above the $8.322 million consensus estimate.
- EPS Beat Consensus
- Q2 2026 EPS was $0.05, matching Q1 2026 and exceeding the $0.04 estimate by $0.01, or 25%.
- Variable-Rate Portfolio Producing Income
- Management stated that all variable-rate investments were income producing as of June 30, 2026, supporting current portfolio income generation.
- Disclosure Controls Remained Effective
- The filing states that disclosure controls were effective as of June 30, 2026, providing reasonable assurance over required SEC reporting.
- DRIP Supported Equity Capital
- The company issued 354,277 shares under its distribution reinvestment plan during Q2, with an aggregate value of approximately $493,000.
- No Share Repurchases
- No common stock was repurchased during the three months ended June 30, 2026, preserving cash for portfolio and financing needs.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Downside to Falling Interest Rates
- The filing estimates that a 100-basis-point decline in base rates would reduce annualized investment income by 4.7%, while a 300-basis-point decline would reduce it by 13.5%.
- Material Interest-Rate Sensitivity
- The portfolio remains exposed to interest-rate volatility because variable-rate investments generally reset annually for bilateral investments and quarterly for non-bilateral investments; a 300-basis-point increase is modeled to raise investment income by 14.5%, highlighting material rate sensitivity in either direction.
- No Formal Risk-Factor Update
- The company said there were no material changes to its 10-K risk factors during the six months ended June 30, 2026, but also cautioned that additional unknown or currently immaterial risks could adversely affect results.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $0.05
What they said about what is next.
No quantitative revenue or EPS outlook was provided in the extracted 10-Q text; outlook appears deferred to the earnings release or call.
The filing reads about the same as the one before it.
What came before.
- 10-Q · May 1, 2026
- Oxford Square Capital Corp. reported Q1 2026 results with total revenue of $8.9 million, a decrease of 10.3% from the estimated $9.8 million. EPS came in at $0.05, missing estimates by $0.01. The company experienced net…
- 10-K · March 6, 2026
- Oxford Square positions itself as a BDC focused primarily on corporate debt securities and, to a lesser extent, CLO structured-finance investments, targeting individual investments generally between $5.0 million and…
- 10-K · March 5, 2025
- Oxford Square (OXSQ) positions itself as a BDC focused on corporate debt and CLO equity investments, targeting $5.0 million to $50.0 million per investment and seeking diversification with few investments exceeding 5%…
- 10-Q · November 7, 2024
- Oxford Square’s 10-Q shows a larger cash balance and higher total assets but material unrealized losses and weaker NAV per share. Investments remain concentrated in senior secured loans and CLO equity positions;…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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