BIMINI CAPITAL MANAGEMENT, INC.
For the period ended Sep 30, 2026. Filed Nov 6, 2026.
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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, 2026 · Filed Nov 6, 2026
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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, 2026 and 2025
| Nine Months Ended September 30, | Three Months Ended September 30, | |||
|---|---|---|---|---|
| 2026 | 2025 | 2026 | 2025 | |
| Revenues: | ||||
| Advisory services: | ||||
| REIT management fees | $15,155,451 | $11,850,846 | $4,950,919 | $4,457,711 |
| Investment advisory fees | 3,421,043 | - | 1,692,886 | - |
| Interest income | 1,662,356 | 4,858,456 | 247,188 | 1,534,531 |
| Dividend income from Orchid Island Capital, Inc. common stock | 546,308 | 614,597 | 170,721 | 204,866 |
| Total revenues | 20,785,158 | 17,323,899 | 7,061,714 | 6,197,108 |
| Interest expense: | ||||
| Repurchase agreements | (982,539) | (3,654,961) | (140,957) | (1,157,498) |
| Long-term debt | (1,513,024) | (1,621,984) | (518,493) | (544,012) |
| Net revenues | 18,289,595 | 12,046,954 | 6,402,264 | 4,495,598 |
| Other income (expense): | ||||
| Unrealized (losses) gains on mortgage-backed securities and U.S. Treasury securities | (1,033,585) | 2,229,740 | (771,609) | 839,370 |
| Realized losses on mortgage-backed securities | (372,053) | (178,140) | - | - |
| Unrealized losses on Orchid Island Capital Inc. common stock | (1,007,256) | (438,184) | (876,370) | - |
| Gains (losses) on derivative instruments | 725,718 | (1,969,539) | 452,341 | (169,953) |
| Other income | 1,216 | - | 783 | - |
| Other expense, net | (1,685,960) | (356,123) | (1,194,855) | 669,417 |
| Expenses: | ||||
| Compensation and related benefits | 7,234,238 | 5,567,369 | 2,568,133 | 1,795,098 |
| Direct advisory services costs | 1,183,620 | 1,272,462 | 320,832 | 485,403 |
| Directors' fees and liability insurance | 663,558 | 579,019 | 257,841 | 189,248 |
| Audit, legal and other professional fees | 751,633 | 676,937 | 259,721 | 186,631 |
| Acquisition related expenses | 1,627,013 | 174,825 | 111,258 | 174,825 |
| Amortization of intangible assets | 340,000 | - | 170,000 | - |
| Administrative and other expenses | 704,288 | 444,205 | 244,877 | 140,481 |
| Total expenses | 12,504,350 | 8,714,817 | 3,932,662 | 2,971,686 |
| Net income before income tax provision | 4,099,285 | 2,976,014 | 1,274,747 | 2,193,329 |
| Income tax provision | 1,665,284 | 557,969 | 140,148 | 370,586 |
| Net income | 2,434,001 | 2,418,045 | 1,134,599 | 1,822,743 |
| Less: income attributable to noncontrolling interests | 238,232 | - | 113,941 | - |
| Net income attributable to Bimini Capital Management, Inc. stockholders | $2,195,769 | $2,418,045 | $1,020,658 | $1,822,743 |
| Per share information attributable to Bimini Capital Management, Inc. stockholders: | ||||
| Basic and Diluted Net Income Per Share of: | ||||
| Class A Common Stock | $0.22 | $0.24 | $0.10 | $0.18 |
| Class B Common Stock | $0.22 | $0.24 | $0.10 | $0.18 |
| Weighted Average Shares Outstanding: | ||||
| Class A Common Stock | 9,998,806 | 10,005,457 | 9,966,112 | 10,005,457 |
| Class B Common Stock | 31,938 | 31,938 | 31,938 | 31,938 |
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