Revenue: As of FY2026 Q4, the actual value is USD 12.31 M.

EPS: As of FY2026 Q4, the actual value is USD -0.86.

EBIT: As of FY2026 Q4, the actual value is USD -4.802 M.

Overall Performance (Quarter Ended March 31, 2026)

• Net asset value (NAV) per share was $4.09, which includes the effects of distributions of $0.24 per share for the quarter .
• GAAP net loss was - $32.3 million or - $0.86 per share .
• Net investment income (NII) was $5.1 million, or $0.13 per share .
• Adjusted net investment income was $7.3 million, or $0.19 per share .
• Ellington Credit Company received $17.4 million in recurring cash distributions from the investment portfolio, or $0.46 per share .

CLO Portfolio (as of March 31, 2026)

• The CLO portfolio was valued at $307.9 million .
• CLO debt investments totaled $145.1 million .
• CLO equity investments totaled $162.8 million .
• Ellington Credit Company purchased $30.7 million of CLO investments and sold $34.2 million across 44 trades .
• The weighted average GAAP yield for the quarter, based on amortized cost, was 12.5% on the total CLO portfolio .
• The fair value of U.S. CLO debt was $117,708 thousand, and European CLO debt was $27,416 thousand, totaling $145,124 thousand for CLO debt .
• The fair value of U.S. CLO equity was $159,597 thousand, and European CLO equity was $3,217 thousand, totaling $162,814 thousand for CLO equity .
• Total CLO debt and equity fair value was $307,938 thousand .
• Total investments, at fair value, were $308,363 thousand .

Credit Hedges (as of March 31, 2026)

• Estimated Index Equivalents for Credit Hedges were - $187,462 thousand .

Financing and Capital Structure (as of March 31, 2026)

• Ellington Credit Company issued $54 million of senior unsecured notes on March 30, 2026 .
• Total outstanding debt was $220,274 thousand, which included $166,274 thousand in reverse repurchase agreements and $54,000 thousand in unsecured borrowings .

Balance Sheet (as of March 31, 2026)

• Total assets were $386,927 thousand, including investments at fair value of $308,363 thousand, cash and cash equivalents of $57,726 thousand, and other assets of $20,838 thousand .
• Total liabilities were $233,105 thousand, including reverse repurchase agreements of $166,274 thousand, unsecured borrowings at fair value of $54,000 thousand, and other liabilities of $12,831 thousand .
• Net asset value was $153,822 thousand .
• Common shares outstanding were 37,579,569 .

Comparative Operating Results (Quarter Ended March 31, 2026 vs. December 31, 2025)

• Net Investment Income
  • Quarter Ended March 31, 2026: $5,067 thousand .
  • Quarter Ended December 31, 2025: $7,751 thousand .
• Adjusted Net Investment Income
  • Quarter Ended March 31, 2026: $7,312 thousand .
  • Quarter Ended December 31, 2025: $7,802 thousand .
• Net Income (Loss)
  • Quarter Ended March 31, 2026: - $32,270 thousand .
  • Quarter Ended December 31, 2025: - $21,067 thousand .

Outlook / Guidance

Ellington Credit Company believes that the market weakness was technical, driven by sentiment and elevated yield spreads, rather than fundamental credit deterioration . Following the quarter end, most of the debt offering proceeds were used to make new CLO investments, with deployment substantially complete by the end of April, positioning the company for future earnings growth . The company entered the second quarter well positioned to take advantage of the new environment, with ample dry powder and capabilities to turn market dislocations into long-term value .