For the quarter ending 2025-09-30, RC-PC made $81,035,000 in revenue. -$20,744,000 in net income. Net profit margin of -25.60%.
| Income Statement | 2025-09-30 | 2024-12-31 | ||
|---|---|---|---|---|
| Interest income | 137,491,000 | 224,243,750 | ||
| Interest expense | 126,971,000 | 174,113,750 | ||
| Net interest income before (provision for) recovery of loan losses | 10,520,000 | 50,130,000 | ||
| (provision for) recovery of loan losses | 37,977,000 | 73,189,750 | ||
| Net interest income after (provision for) recovery of loan losses | -27,457,000 | -23,059,750 | ||
| Net realized gain (loss) on financial instruments and real estate owned | -160,396,000 | -13,500,000 | ||
| Net unrealized gain (loss) on financial instruments | 2,914,000 | -3,747,750 | ||
| Valuation allowance, loans held for sale | - | 31,219,500 | ||
| Valuation recovery (allowance), loans held for sale | -178,225,000 | - | ||
| Servicing income, net of amortization and impairment of 4,514 and 22,682 for the three and nine months ended september 30, 2025, and 5,841 and 14,216 for the three and nine months ended september 30, 2024, respectively | 7,509,000 | 4,139,000 | ||
| Gain on bargain purchase | 24,472,000 | 3,464,750 | ||
| Income (loss) on unconsolidated joint ventures | 7,417,000 | 2,721,500 | ||
| Other income | 14,773,000 | 12,700,750 | ||
| Total non-interest income (expense) | 74,914,000 | -25,441,250 | ||
| Employee compensation and benefits and allocated employee compensation and benefits from related party-Nonrelated Party | 21,151,000 | 20,630,500 | ||
| Employee compensation and benefits and allocated employee compensation and benefits from related party-Related Party | 3,602,000 | 2,846,750 | ||
| Professional fees | 6,008,000 | 6,721,750 | ||
| Management fees related party-Related Party | 5,156,000 | 6,215,500 | ||
| Incentive fees related party-Related Party | - | 0 | ||
| Loan servicing expense | 9,771,000 | 11,664,000 | ||
| Transaction related expenses | 1,910,000 | 2,529,500 | ||
| Impairment on real estate | 1,862,000 | 14,125,750 | ||
| Other operating expenses | 24,879,000 | 15,893,000 | ||
| Total non-interest expense | 74,339,000 | 80,626,750 | ||
| Loss from continuing operations before benefit for income taxes | -26,882,000 | -129,127,750 | ||
| Income tax benefit | -9,935,000 | -26,128,000 | ||
| Net income (loss) from continuing operations | -16,947,000 | -102,999,750 | ||
| Income (loss) from discontinued operations before benefit (provision) for income taxes | 280,000 | -6,133,000 | ||
| Income tax benefit (provision) | 70,000 | -1,533,250 | ||
| Net income (loss) from discontinued operations | 210,000 | -4,599,750 | ||
| Net income (loss) | -16,737,000 | -107,599,500 | ||
| Less dividends on preferred stock | 1,999,000 | 1,999,000 | ||
| Less net income attributable to non-controlling interest | 2,008,000 | 1,339,250 | ||
| Net loss attributable to ready capital corporation | -20,744,000 | -110,937,750 | ||
| Basic (in dollars per share) | 163,574,703 | 42,276,869.25 | ||
| Diluted (in dollars per share) | 165,873,807 | 42,618,068.25 | ||
| Total earnings per common share - basic (in dollars per share) | -0.13 | -0.658 | ||
| Total earnings per common share - diluted (in dollars per share) | -0.13 | -0.658 | ||
Ready Capital Corp (RC-PC)
Ready Capital Corp (RC-PC)