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 |
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 |