BIMINI CAPITAL MANAGEMENT, INC.
For the period ended Sep 30, 2025. Filed Nov 7, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Nov 7, 2025
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See the whole filing, with its images and exhibitsContents
Condensed Consolidated Statements of Operations (unaudited)
BIMINI CAPITAL MANAGEMENT, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
For the Nine and Three Months Ended September 30, 2025 and 2024
| Nine Months Ended September 30, | Three Months Ended September 30, | |||
|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | |
| Revenues: | ||||
| Advisory services | $11,850,846 | $9,396,828 | $4,457,711 | $3,300,512 |
| Interest income | 4,858,456 | 4,166,811 | 1,534,531 | 1,485,386 |
| Dividend income from Orchid Island Capital, Inc. common stock | 614,597 | 614,597 | 204,866 | 204,866 |
| Total revenues | 17,323,899 | 14,178,236 | 6,197,108 | 4,990,764 |
| Interest expense: | ||||
| Repurchase agreements | (3,654,961) | (3,738,559) | (1,157,498) | (1,373,250) |
| Long-term debt | (1,621,984) | (1,820,098) | (544,012) | (607,613) |
| Net revenues | 12,046,954 | 8,619,579 | 4,495,598 | 3,009,901 |
| Other income (expense): | ||||
| Unrealized gains on mortgage-backed securities | 2,229,740 | 2,356,357 | 839,370 | 2,480,320 |
| Realized losses on mortgage-backed securities | (178,140) | (561,604) | - | - |
| Unrealized losses on Orchid Island Capital Inc. common stock | (438,184) | (119,506) | - | (68,289) |
| Losses on derivative instruments | (1,969,539) | (607,852) | (169,953) | (1,991,315) |
| Other income | - | 59 | - | 10 |
| Other (expense) income, net | (356,123) | 1,067,454 | 669,417 | 420,726 |
| Expenses: | ||||
| Compensation and related benefits | 5,567,369 | 5,402,324 | 1,795,098 | 1,754,798 |
| Direct advisory services costs | 1,272,462 | 1,248,722 | 485,403 | 396,344 |
| Directors' fees and liability insurance | 579,019 | 630,129 | 189,248 | 214,035 |
| Audit, legal and other professional fees | 851,762 | 499,168 | 361,456 | 126,630 |
| Administrative and other expenses | 444,205 | 658,971 | 140,481 | 135,536 |
| Total expenses | 8,714,817 | 8,439,314 | 2,971,686 | 2,627,343 |
| Net income before income tax provision | 2,976,014 | 1,247,719 | 2,193,329 | 803,284 |
| Income tax provision | 557,969 | 1,052,231 | 370,586 | 547,059 |
| Net income | $2,418,045 | $195,488 | $1,822,743 | $256,225 |
| Basic and Diluted Net Income Per Share of: | ||||
| CLASS A COMMON STOCK | ||||
| Basic and Diluted | $0.24 | $0.02 | $0.18 | $0.03 |
| CLASS B COMMON STOCK | ||||
| Basic and Diluted | $0.24 | $0.02 | $0.18 | $0.03 |
| Weighted Average Shares Outstanding: | ||||
| CLASS A COMMON STOCK | ||||
| Basic and Diluted | 10,005,457 | 10,005,457 | 10,005,457 | 10,005,457 |
| CLASS B COMMON STOCK | ||||
| Basic and Diluted | 31,938 | 31,938 | 31,938 | 31,938 |
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