Q3 2026 Revenue up 14% year over year to $7.1M · 14¢ of every $1 of revenue kept as net profit · operating margin 18.1%
Bimini Capital Management made $7.1M in Q3 2026 (+14% Y/Y): REIT Management Fees $5.0M, Investment Advisory Fees $1.7M, Other revenues $411K. Operating margin 18.1%, net earnings $1.0M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 6, 2026.
Revenue$7.1M
Year over year+14%
Operating margin18.1%
Net earnings$1.0M
Operating cash flow$3.2M
Drawing the Sankey…
Open the interactive Sankey →click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $7.1M in Q3 2026, up 14% year over year and down 2% from the previous quarter. REIT Management Fees was the largest line at 70% of revenue. REIT Management Fees added $493K year over year (up 11%), 57% of the total change.
Operating profit was $1.3M, a 18.1% margin (down 17.3 points year over year). Operating profit fell $919K even though revenue rose $865K versus Q3 2025, so costs grew faster than sales. Total costs grew 45% against revenue growth of 14%. The fastest-growing cost line was Other operating costs (+80%). Net earnings were $1.0M, down 44% year over year. The effective tax rate was 11.0%.
Operating cash flow was $3.2M (up 51% year over year), 285% of net income including minority interests. Non-cash charges added back $187K of depreciation and amortization. Working capital and other items added $1.9M.
Quarterly history
Quarter
Form
Filed
Revenue
Y/Y
Op. margin
Net earnings
Op. cash flow
Q3 2026
10-Q
Nov 6, 2026
$7.1M
+14%
18.1%
$1.0M
$3.2M
Q2 2026
10-Q
Aug 7, 2026
$7.2M
+29%
25.0%
$374K
$2.6M
Q1 2026
10-Q
May 8, 2026
$6.5M
+18%
15.7%
$801K
$201K
Q4 2025
10-K
Mar 13, 2026
$6.4M
+21%
23.8%
$3.4M
$2.1M
Q3 2025
10-Q
Nov 7, 2025
$6.2M
+24%
35.4%
$1.8M
$2.1M
Q2 2025
10-Q
Aug 1, 2025
$5.6M
+20%
0.9%
$43K
$1.8M
Q1 2025
10-Q
May 2, 2025
$5.5M
+22%
13.3%
$553K
−$3.1M
Charts
Latest (Q3 2026): Y/Y +14%, Q/Q -2%.From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.Latest (Q3 2026): Net income $1.0M, Operating cash flow $3.2M.Cash $12.7M, short-term investments —, long-term debt $27.3M at 2025-12-31.Real Estate Investment Trusts; dot size is quarterly revenue; dashed lines are the industry's medians.
Interactive views
The same charts as the app — open one to draw it.
💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
ORC — 70% of its revenue · Stated in 10-K (XBRL) · source
About Bimini Capital Management
Bimini Capital Management, Inc., a Maryland corporation (“Bimini Capital” and, collectively with its subsidiaries, the “Company,” “we”, “us” or “our”) is a specialty finance company that operates in two business segments: (i) investing in mortgage-backed securities (“MBS”) and Orchid Island Capital, Inc. (“Orchid”) common stock in our own portfolio, (ii) and serving as the external manager of Orchid which also invests in MBS. In both cases, the principal and interest payments of these MBS are guaranteed by Fannie Mae, Freddie Mac or the Government National Mortgage Association (“Ginnie Mae” and, collectively with Fannie Mae and Freddie Mac, “GSEs”) and are backed primarily by single-family residential mortgage loans.
In its own words, from its 10-K, filed Mar 13, 2026.
Bimini Capital Management against its Real Estate Investment Trusts peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +14% against the peers' median +14%. Operating margin: 18.1% against the peers' median 18.1%.