v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
INCOME FROM INVESTMENTS:        
Interest and related income $ 14,678 $ 14,359 $ 29,517 $ 28,681
Less: interest and related expenses (7,171) (7,524) (14,353) (14,961)
Income from loan investments, net 7,507 6,835 15,164 13,720
Revenue from real estate owned 618 558 1,300 1,267
Total revenue 8,125 7,393 16,464 14,987
OTHER EXPENSES:        
Base management fees 1,299 1,076 2,604 2,155
Incentive fees 91 229 91 247
General and administrative expenses 1,562 1,381 2,448 2,344
Reimbursement of shared services expenses 574 551 1,148 1,101
Provision for credit losses 4,923 912 5,526 759
Expenses from real estate owned 554 569 1,134 1,163
Total other expenses 9,003 4,718 12,951 7,769
Income before income taxes (878) 2,675 3,513 7,218
Income tax benefit (expense) 11 3 5 (8)
Net (loss) income $ (867) $ 2,678 $ 3,518 $ 7,210
Weighted average common shares outstanding- basic (in shares) 22,419 14,785 22,408 14,771
Weighted average common shares outstanding - diluted (in shares) 22,419 14,785 22,408 14,771
Net (loss) income per common share - basic (in dollars per share) $ (0.04) $ 0.18 $ 0.15 $ 0.48
Net (loss) income per common share - diluted (in dollars per share) $ (0.04) $ 0.18 $ 0.15 $ 0.48