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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.
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Q3 2025 earnings summary7 Nov, 2025

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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Frequently asked questions

Bimini Capital Management Inc. is a finance company that primarily invests in residential mortgage-backed securities (MBS). The company's investment strategy focuses on acquiring and managing a portfolio of mortgage-related assets, particularly agency MBS, which are guaranteed by government-sponsored entities. Bimini Capital seeks to generate income through the interest and payments associated with its MBS holdings. Additionally, the company manages its subsidiary, Orchid Island Capital, which operates as a real estate investment trust (REIT). The company is headquartered in Vero Beach, Florida, and its shares are listed on the OTC Markets.

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