Ready Capital | 10-Q: FY2025 Q3 Revenue: USD 212.41 M

Revenue: As of FY2025 Q3, the actual value is USD 212.41 M.

EPS: As of FY2025 Q3, the actual value is USD -0.13, missing the estimate of USD -0.0464.

EBIT: As of FY2025 Q3, the actual value is USD -37.4 M.

LMM Commercial Real Estate Segment

• Net Interest Income: For the nine months ended September 30, 2025, net interest income was $41,919, compared to $150,466 for the same period in 2024.
• Provision for Loan Losses: The segment recorded a provision for loan losses of $37,977 for the three months ended September 30, 2025, compared to $53,166 for the same period in 2024.
• Non-Interest Income: Total non-interest income for the nine months ended September 30, 2025 was $73,979, compared to - $128,769 for the same period in 2024.

Small Business Lending Segment

• Net Interest Income: For the nine months ended September 30, 2025, net interest income was $104,870, compared to $142,715 for the same period in 2024.
• Provision for Loan Losses: The segment recorded a recovery of loan losses of $62,951 for the nine months ended September 30, 2025, compared to a provision of $7,751 for the same period in 2024.
• Non-Interest Income: Total non-interest income for the nine months ended September 30, 2025 was $73,979, compared to - $128,769 for the same period in 2024.

Cash Flow

• Operating Cash Flow: Net cash provided by operating activities for the nine months ended September 30, 2025 was $442,879, compared to $245,655 for the same period in 2024.
• Investing Cash Flow: Net cash provided by investing activities for the nine months ended September 30, 2025 was $1,282,468, compared to $998,042 for the same period in 2024.
• Financing Cash Flow: Net cash used for financing activities for the nine months ended September 30, 2025 was - $1,743,418, compared to - $1,271,862 for the same period in 2024.

Future Outlook and Strategy

• Core Business Focus: Ready Capital Corporation plans to strategically focus on LMM commercial real estate lending and small business loans, with a shift away from residential mortgage banking.
• Non-Core Business: The company completed the disposition of its Residential Mortgage Banking segment effective June 30, 2025, as part of its strategic shift.