Revenue: As of FY2026 Q1, the actual value is USD 157.84 M.EPS: As of FY2026 Q1, the actual value is USD -0.11, missing the estimate of USD 0.3333.EBIT: As of FY2026 Q1, the actual value is USD -7.397 M.Orchid Island Capital, Inc. operates as a single reportable segment, primarily investing in residential mortgage-backed securities (RMBS) and generating nearly all income from its RMBS portfolio, with a primary objective of providing attractive risk-adjusted total returns through capital appreciation and regular monthly distributions .<h4>Operational Metrics</h4><ul><li>Net Income (Loss): Orchid Island Capital, Inc. reported a net loss of -$20.0 million (-$0.11 per share) for the three months ended March 31, 2026, compared to a net income of $17.1 million ($0.18 per share) for the same period in 2025 .</li><li>Interest Income: Interest income increased to $157.8 million for the three months ended March 31, 2026, from $81.1 million for the comparable period in 2025, representing a rise of $76.7 million . This increase was due to a 34 basis point increase in the yield on average RMBS and a $4,987.9 million increase in average RMBS .</li><li>Interest Expense: Interest expense rose to -$100.8 million for the three months ended March 31, 2026, from -$61.4 million in the prior year, an increase of -$39.4 million . This was driven by a $4,768.0 million increase in average outstanding borrowings, partially offset by a 45 basis point decrease in the average cost of funds .</li><li>Net Interest Income (GAAP): Net interest income for the three months ended March 31, 2026, was $57.1 million, up from $19.7 million in the comparable 2025 period .</li><li>Economic Net Interest Income: On an economic basis, net interest income was $71.7 million for the three months ended March 31, 2026, compared to $40.6 million for the same period in 2025 .</li><li>Net Portfolio (Loss) Income: The company reported a net portfolio loss of -$12.6 million for the three months ended March 31, 2026, a decline from net portfolio income of $21.3 million in the prior year .</li><li>Total Expenses: Total operating expenses were -$7.4 million for the three months ended March 31, 2026, compared to -$4.2 million for the same period in 2025 . Management fees increased to $4.0 million from $2.7 million, allocated overhead to $0.8 million from $0.6 million, and incentive compensation to $1.4 million from -$0.2 million .</li></ul><h4>Unique Metrics</h4><ul><li>RMBS Portfolio: As of March 31, 2026, the RMBS portfolio was valued at $11.3 billion at fair value, with a weighted average coupon of 5.58% . Fixed Rate RMBS constituted 99.9% of the portfolio, with a fair value of $11,326.1 million .</li><li>Prepayment Rates: Principal repayments on RMBS were $404.7 million for the three months ended March 31, 2026, significantly higher than $133.0 million for the same period in 2025 . The average three-month prepayment speed (CPR) was 14.7% for the quarter ended March 31, 2026, up from 7.8% in 2025 .</li><li>Leverage: Economic leverage was 7.9 to 1 as of March 31, 2026, compared to 7.3 to 1 as of December 31, 2025 . Adjusted leverage was 7.8 to 1 as of March 31, 2026, compared to 7.4 to 1 as of December 31, 2025 .</li><li>Borrowings: Average outstanding borrowings were $10,490.1 million for the three months ended March 31, 2026, with an average cost of funds of 3.84% .</li></ul><h4>Cash Flow</h4><ul><li>Net Cash Provided by Operating Activities: Orchid Island Capital, Inc. generated $48.6 million in net cash from operating activities for the three months ended March 31, 2026, compared to $25.8 million for the same period in 2025 .</li><li>Net Cash Used in Investing Activities: Net cash used in investing activities was -$802.2 million for the three months ended March 31, 2026, compared to -$1,526.5 million for the same period in 2025 .</li><li>Net Cash Provided by Financing Activities: Net cash provided by financing activities was $789.2 million for the three months ended March 31, 2026, compared to $1,565.8 million for the same period in 2025 .</li><li>Cash and Cash Equivalents: Cash, cash equivalents, and restricted cash at the end of the period were $760.1 million as of March 31, 2026, up from $724.6 million at the beginning of the period .</li></ul><h4>Future Outlook and Strategy</h4>Given market uncertainty stemming from persistent inflation, a stable labor market, sustained growth, and geopolitical events like the Iranian war, Orchid Island Capital, Inc. plans to deploy modest leverage levels . The company intends to maintain a defensive portfolio positioning in terms of asset selection to navigate potential shifts in monetary policy .

Orchid Island Capital | 10-Q: FY2026 Q1 Revenue: USD 157.84 M