Bimini Capital Management Inc (PK:BMNM)

Business Focus: Investment Management & Fund Operators

Sector:  Financials Industry:  Investment Management & Fund Operators
 
See Regulatory Filings on SEC
Company Contact
Address: 3305 Flamingo Dr
VERO BEACH FL 32963
Tel: N/A
Website: https://www.biminicapital.com/home/default.aspx
IR: See website
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Key People
Robert E. Cauley
Chairman of the Board, Chief Executive Officer, Secretary
George Hunter Haas
President, Chief Financial Officer, Chief Investment Officer, Director
 
Business Overview
Bimini Capital Management, Inc. is a specialty finance company. The Company operates through two segments: the asset management segment and the investment portfolio segment. The investment portfolio segment includes the investment activities conducted at Bimini Capital's wholly owned subsidiary, Royal Palm Capital, LLC (Royal Palm). The asset management segment includes investment advisory services provided by Bimini Advisors Holdings, LLC (Bimini Advisors) to Orchid Island Capital, Inc (Orchid). Its portfolio consists of two categories of Agency mortgage-backed securities (MBS): traditional pass-through Agency MBS, such as mortgage pass-through certificates and collateralized mortgage obligations, and structured Agency MBS, such as interest-only securities and principal-only securities. The Company's wholly owned subsidiaries include is Bimini Capital Management, Inc, Royal Palm, and Bimini Advisors. Royal Palm maintains an investment portfolio, consisting primarily of MBS.
Financial Overview
For the fiscal year ended 31 December 2023, Bimini Capital Management Inc revenues increased from $4M to $16.1M. Net loss decreased 80% to $4M. Revenues reflect Asset Management segment increase of 5% to $13.7M. Lower net loss reflects Administrative and other expenses decrease of 62% to $751K (expense). Basic Earnings per Share excluding Extraordinary Items increased from -$1.90 to -$0.40.
Employees: 9 as of Dec 31, 2023
Reporting Currency: U.S. Dollars
Enterprise value: $117.09M as of Dec 31, 2023
Annual revenue (TTM): $16.06M as of Dec 31, 2023
EBITDA (TTM): $0.22M as of Dec 31, 2023
Net annual income (TTM): -$3.98M as of Dec 31, 2023
Free cash flow (TTM): $1.70M as of Dec 31, 2023
Net Debt Last Fiscal Year: $110.59M as of Dec 31, 2023
Shares outstanding: 10,069,333 as of Mar 7, 2024
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization

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