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Korth Direct Mortgage earnings and revenue breakdown
Latest: Q2 2026 · 10-Q filed Oct 2, 2026
Q2 2026 Revenue down 21% year over year to $3.3M · 8¢ of every $1 of revenue lost · operating margin 9.4%
Korth Direct Mortgage made $3.3M in Q2 2026 (-21% Y/Y). Operating margin 9.4%, net loss $259K. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Oct 2, 2026.
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What changed this quarter
Revenue was $3.3M in Q2 2026, down 21% year over year and up 3% from the previous quarter.
Gross margin was 84.3%, up 4.3 points from Q2 2025. Operating profit was $307K, a 9.4% margin (down 10.7 points year over year). Operating expenses fell 2% while revenue fell 21%. The quarter ended with a net loss of $259K, after a profit of $861K the previous quarter. Net interest and other expense of $645K was the main reason.
Operating cash flow was $11.3M (down 62% year over year). Non-cash charges added back $465K of depreciation. Working capital and other items added $11.1M. Capital expenditures of $358K left free cash flow of $11.0M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 10-Q | Oct 2, 2026 | $3.3M | -21% | 9.4% | −$259K | $11.3M |
| Q1 2026 | 10-Q | Jul 1, 2026 | $3.2M | -32% | 3.4% | $659K | $383K |
| Q4 2025 | 10-K | Jun 1, 2026 | $4.3M | +20% | 11.6% | −$2.3M | −$3.2M |
| Q3 2025 | 10-Q | Nov 13, 2025 | $4.1M | +23% | 9.7% | −$1.4M | −$42.2M |
| Q2 2025 | 10-Q | Aug 14, 2025 | $4.2M | +33% | 20.1% | $3.2M | $29.7M |
| Q1 2025 | 10-Q | May 15, 2025 | $4.7M | +128% | 20.3% | $740K | $1.5M |
| Q4 2024 | 10-K | Apr 1, 2025 | $3.6M | +40% | 14.5% | −$377K | −$7.6M |
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About Korth Direct Mortgage
Throughout this Report we use the terms “KDM,” “we,” “Company,” and “us” to refer to Korth Direct Mortgage Inc, and its subsidiaries. Our principal executive offices are located at 135 San Lorenzo Avenue Suite 600, Coral Gables, Florida 33146, and our telephone number is (305) 668-8485. Our website address is korthdirect.com.
In its own words, from its 10-K, filed Jun 1, 2026.
Korth Direct Mortgage against its Mortgage Bankers & Loan Correspondents peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -21% against the peers' median -4%. Operating margin: 9.4% against the peers' median 9.4%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| Korth Direct Mortgage | Q2 2026 | $3.3M | -21% | 9.4% |
| RKT Rocket Companies | Q3 2026 | $3.3B | +94% | 29.2% |
| UWMC UWM Holdings | Q3 2026 | $811M | -4% | 27.6% |
| PFSI PennyMac Financial Services | Q3 2026 | $469M | -26% | 9.1% |
| ONIT Onity Group | Q3 2026 | $278M | -0.8% | 57.6% |
| FOA Finance of America Companies | Q2 2026 | $62.5M | -65% | -113.7% |
| BLNE Beeline Holdings | Q2 2026 | $2.6M | +57% | -171.0% |
Source: Korth Direct Mortgage 10-Q on SEC EDGAR · CIK 1695963 · Mortgage Bankers & Loan Correspondents