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Bimini Capital Management (BMNM) investor relations material
Bimini Capital Management Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Net income for Q3 2025 was $1.8 million ($0.18 per share), up from $0.3 million year-over-year, and $2.4 million ($0.24 per share) for the nine months ended September 30, 2025.
Advisory service revenues rose 35% year-over-year and 17% sequentially, driven by increased equity at Orchid Island Capital.
Economic conditions in Q3 2025 shifted toward slower growth and lower rates, with Agency RMBS showing solid performance and positive returns.
Labor market weakened, prompting the Federal Reserve to lower the Fed funds rate by 25 basis points at both September and October meetings.
The company operates in two segments: asset management (advisory services to Orchid) and investment portfolio (MBS and Orchid stock investments).
Financial highlights
Total revenues for the nine months ended September 30, 2025 were $17.3 million, up from $14.2 million year-over-year.
Advisory services revenue for Q3 2025 was $4.5 million, up from $3.3 million in Q3 2024, and $11.9 million for the nine months (68% of total revenues).
Net portfolio interest income for the nine months was $1.2 million, up from $0.4 million year-over-year.
Operating expenses increased to $8.7 million for the nine months; Q3 2025 expenses were $3.0 million, up 13% year-over-year.
Book value per share increased to $0.92 as of September 30, 2025, from $0.68 at December 31, 2024.
Outlook and guidance
Management expects continued benefit from favorable Agency RMBS market conditions and positive sector yields.
The ongoing government shutdown and lack of economic data may delay further Fed policy actions.
The company anticipates stable or improving advisory revenue as Orchid grows its capital base.
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