Revenue: As of FY2025 Q3, the actual value is USD 195.32 M.

EPS: As of FY2025 Q3, the actual value is USD 0.36.

EBIT: As of FY2025 Q3, the actual value is USD -30.12 M.

Segment Revenue

• Investment Portfolio Segment: Revenue from interest income was $431.3 million for the nine months ended September 30, 2025, compared to $283.0 million for the same period in 2024.

Operational Metrics

• Net Income: The net income for the nine months ended September 30, 2025, was $81.3 million, compared to a net loss of $63.7 million for the same period in 2024.
• Operating Profit: Income from operations before income taxes was $81.5 million for the nine months ended September 30, 2025, compared to a loss of $61.1 million for the same period in 2024.
• Operating Costs: General, administrative, and operating expenses were $86.8 million for the nine months ended September 30, 2025, compared to $70.8 million for the same period in 2024.

Cash Flow

• Operating Cash Flow: Net cash provided by operating activities was $71.9 million for the nine months ended September 30, 2025, compared to net cash used in operating activities of $15.0 million for the same period in 2024.

Unique Metrics

• Residential Loans: The carrying value of residential loans was $4,151.6 million as of September 30, 2025, compared to $3,841.7 million as of December 31, 2024.
• Investment Securities: Investment securities available for sale, at fair value, were $6,838.7 million as of September 30, 2025, compared to $3,828.5 million as of December 31, 2024.

Future Outlook and Strategy

• Core Business Focus: The company plans to continue strategically deploying capital across complementary businesses to generate durable earnings and long-term value for stockholders through disciplined portfolio management and an operating platform designed to capture opportunities across real estate and capital markets.
• Non-Core Business: The company has repositioned its business through the opportunistic disposition of its joint venture equity investments in multi-family properties and reallocation of its capital away from such assets to its targeted assets.