Manhattan Bridge Capital (LOAN) Q2 2025 earnings summary

Executive summary

• Specializes in short-term, secured, non-banking loans to real estate investors in NY, NJ, CT, and FL, focusing on first mortgage liens and personal guarantees from borrowers.

• Total revenues for Q2 2025 were $2.36M, down 3.6% year-over-year due to lower interest income from reduced loans receivable, partially offset by higher origination fees.

• Net income for Q2 2025 was $1.41M ($0.12 per share), nearly flat compared to Q2 2024.

• Loan portfolio growth and capital preservation are key objectives, with a focus on risk-adjusted returns and dividends.

• No loan losses or foreclosures reported for the period; all loans performing or extended with additional fees.

Financial highlights

• Total revenue for Q2 2025 was $2.36M, down 3.6% year-over-year; six-month revenue was $4.63M, down 7.7%.

• Net income for Q2 2025 was $1.41M, nearly flat year-over-year; six-month net income was $2.79M, down 3.4%.

• Interest income for Q2 2025 was $1.90M, down from $2.03M in Q2 2024; origination fees rose to $456K from $411K.

• Operating costs for Q2 2025 were $946K, down from $1.04M in Q2 2024.

• Basic and diluted EPS for Q2 2025 was $0.12; for six months, $0.24.

Outlook and guidance

• Management expects current cash, credit facilities, and operations to fund activities for the next 12 months.

• Plans to refinance $6M in senior secured notes before April 2026 maturity.

• Anticipates increased working capital needs as loan portfolio growth continues.

• Higher interest rates continue to slow real estate markets, resulting in fewer loan closings and longer loan terms.