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Side-by-side financial comparison of Chicago Atlantic BDC, Inc. (LIEN) and Blue Owl Technology Finance Corp. (OTF). Click either name above to swap in a different company.
Chicago Atlantic BDC, Inc. is the larger business by last-quarter revenue ($2.5M vs $720.0K, roughly 3.5× Blue Owl Technology Finance Corp.). Blue Owl Technology Finance Corp. runs the higher net margin — 28585.7% vs -6.5%, a 28592.2% gap on every dollar of revenue.
Chicago Atlantic BDC, Inc. is a publicly traded business development company that provides structured debt financing and select minority equity investments to small and mid-sized private companies across core U.S. sectors including healthcare, business services and industrial goods. It targets firms with stable operational track records to generate consistent risk-adjusted returns for its shareholders.
Blue Owl Technology Finance Corp is a specialized non-bank financial services provider that offers custom debt financing solutions primarily to venture-backed growth-stage technology companies. Its core offerings include venture debt, growth capital loans, and structured financing, serving clients across SaaS, fintech, healthcare technology and other high-growth sectors mainly in North America.
LIEN vs OTF — Head-to-Head
Income Statement — Q3 2024 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $2.5M | $720.0K |
| Net Profit | $-165.0K | $205.8M |
| Gross Margin | — | — |
| Operating Margin | — | — |
| Net Margin | -6.5% | 28585.7% |
| Revenue YoY | -8.0% | — |
| Net Profit YoY | 93.8% | 104.4% |
| EPS (diluted) | $-0.03 | — |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | — | $720.0K | ||
| Q3 25 | — | $432.0K | ||
| Q2 25 | — | $138.0K | ||
| Q1 25 | — | $55.0K | ||
| Q3 24 | $2.5M | — | ||
| Q2 24 | $2.6M | — | ||
| Q1 24 | $2.6M | — | ||
| Q4 23 | $3.3M | — |
| Q4 25 | — | $205.8M | ||
| Q3 25 | — | $234.9M | ||
| Q2 25 | — | $201.5M | ||
| Q1 25 | — | $78.1M | ||
| Q3 24 | $-165.0K | — | ||
| Q2 24 | $1.3M | — | ||
| Q1 24 | $-1.0M | — | ||
| Q4 23 | $6.4M | — |
| Q4 25 | — | 28585.7% | ||
| Q3 25 | — | 54383.1% | ||
| Q2 25 | — | 146005.1% | ||
| Q1 25 | — | 142058.2% | ||
| Q3 24 | -6.5% | — | ||
| Q2 24 | 50.1% | — | ||
| Q1 24 | -40.0% | — | ||
| Q4 23 | 197.3% | — |
| Q4 25 | — | — | ||
| Q3 25 | — | $0.50 | ||
| Q2 25 | — | $0.43 | ||
| Q1 25 | — | $0.33 | ||
| Q3 24 | $-0.03 | — | ||
| Q2 24 | $0.21 | — | ||
| Q1 24 | $0.08 | — | ||
| Q4 23 | $0.41 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $30.1M | — |
| Total DebtLower is stronger | — | $6.3B |
| Stockholders' EquityBook value | $82.5M | $8.0B |
| Total Assets | $89.3M | $14.7B |
| Debt / EquityLower = less leverage | — | 0.78× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q3 24 | $30.1M | — | ||
| Q2 24 | $34.0M | — | ||
| Q1 24 | $33.2M | — | ||
| Q4 23 | $32.6M | — |
| Q4 25 | — | $6.3B | ||
| Q3 25 | — | $5.0B | ||
| Q2 25 | — | $4.8B | ||
| Q1 25 | — | $5.1B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — | ||
| Q4 23 | — | — |
| Q4 25 | — | $8.0B | ||
| Q3 25 | — | $8.1B | ||
| Q2 25 | — | $8.0B | ||
| Q1 25 | — | $7.9B | ||
| Q3 24 | $82.5M | — | ||
| Q2 24 | $84.3M | — | ||
| Q1 24 | $84.5M | — | ||
| Q4 23 | $85.6M | — |
| Q4 25 | — | $14.7B | ||
| Q3 25 | — | $13.4B | ||
| Q2 25 | — | $13.0B | ||
| Q1 25 | — | $13.2B | ||
| Q3 24 | $89.3M | — | ||
| Q2 24 | $90.1M | — | ||
| Q1 24 | $90.4M | — | ||
| Q4 23 | $88.6M | — |
| Q4 25 | — | 0.78× | ||
| Q3 25 | — | 0.62× | ||
| Q2 25 | — | 0.60× | ||
| Q1 25 | — | 0.65× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — | ||
| Q4 23 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-2.3M | $-1.2B |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | -5.86× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $-1.2B | ||
| Q3 25 | — | $158.7M | ||
| Q2 25 | — | $-410.2M | ||
| Q1 25 | — | $542.2M | ||
| Q3 24 | $-2.3M | — | ||
| Q2 24 | $2.5M | — | ||
| Q1 24 | $2.1M | — | ||
| Q4 23 | $7.1M | — |
| Q4 25 | — | -5.86× | ||
| Q3 25 | — | 0.68× | ||
| Q2 25 | — | -2.04× | ||
| Q1 25 | — | 6.94× | ||
| Q3 24 | — | — | ||
| Q2 24 | 1.92× | — | ||
| Q1 24 | — | — | ||
| Q4 23 | 1.11× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
