2022 Q3 Form 10-Q Financial Statement

#000176647822000099 Filed on August 12, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2022 Q1
Revenue $11.74M $29.70M $27.11M
YoY Change -24.68% 144.6% 170.2%
Cost Of Revenue $1.115M $0.00 $2.019M
YoY Change
Gross Profit $10.63M $16.43M $14.92M
YoY Change -18.19% 59.57%
Gross Profit Margin 90.5% 55.32% 55.04%
Selling, General & Admin $5.291M $2.974M $2.744M
YoY Change 186.62% 137.92% 198.91%
% of Gross Profit 49.8% 18.1% 18.39%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $7.432M $6.789M $7.383M
YoY Change 17.58% 155.32% 279.78%
Operating Profit $3.193M $9.642M $7.537M
YoY Change -52.11% 26.24%
Interest Expense -$83.57M $13.27M $10.17M
YoY Change -3315.28% 618.91% 1122.36%
% of Operating Profit -2617.13% 137.64% 134.93%
Other Income/Expense, Net -$2.764M
YoY Change
Pretax Income -$83.35M -$52.14M -$47.00M
YoY Change -1413.82% -2441.45% -595.39%
Income Tax $0.00 $0.00 -$3.457M
% Of Pretax Income
Net Earnings -$83.35M -$52.14M -$43.54M
YoY Change -1413.82% -2441.45% -558.95%
Net Earnings / Revenue -709.96% -175.56% -160.61%
Basic Earnings Per Share -$3.40 -$2.13 -$1.77
Diluted Earnings Per Share -$3.401M -$2.13 -$1.77
COMMON SHARES
Basic Shares Outstanding 24.94M shares 24.46M shares 24.64M shares
Diluted Shares Outstanding 24.51M shares 24.46M shares 24.64M shares

Balance Sheet

Concept 2022 Q3 2022 Q2 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $20.55M $16.10M $90.45M
YoY Change -58.21% -44.28% 126.38%
Cash & Equivalents $20.55M $16.10M $90.40M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $64.82M $59.13M $118.5M
YoY Change 5.42% 24.91% 147.64%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $1.078B $931.8M $851.3M
YoY Change 51.12% -7.77% 253.25%
Other Assets $12.41M $9.233M $5.448M
YoY Change 301.29% 123.29% 34.02%
Total Long-Term Assets $3.241B $3.226B $3.080B
YoY Change 82.68% 107.67% 532.35%
TOTAL ASSETS
Total Short-Term Assets $64.82M $59.13M $118.5M
Total Long-Term Assets $3.241B $3.226B $3.080B
Total Assets $3.306B $3.285B $3.198B
YoY Change 80.09% 105.22% 497.95%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $10.84M $6.786M $3.443M
YoY Change 409.64% 345.57% 399.71%
Deferred Revenue
YoY Change
Short-Term Debt $67.45M $128.4M $477.4M
YoY Change -86.21% -83.69% 1617.59%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.086B $857.6M $781.4M
YoY Change 120.07% 8.73% 2643.11%
LONG-TERM LIABILITIES
Long-Term Debt $1.955B $2.052B $1.987B
YoY Change 132.42% 551.12% 936.18%
Other Long-Term Liabilities $0.00 $8.258M $8.024M
YoY Change
Total Long-Term Liabilities $1.955B $2.060B $1.995B
YoY Change 132.42% 553.74% 940.37%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.086B $857.6M $781.4M
Total Long-Term Liabilities $1.955B $2.060B $1.995B
Total Liabilities $3.041B $2.917B $2.777B
YoY Change 127.85% 164.31% 1160.55%
SHAREHOLDERS EQUITY
Retained Earnings -$201.2M -$106.7M -$32.02M
YoY Change -1244.08% -845.58%
Common Stock $249.0K $249.0K $252.0K
YoY Change -1.97% -2.35%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $265.0M $367.3M $421.4M
YoY Change
Total Liabilities & Shareholders Equity $3.306B $3.285B $3.198B
YoY Change 80.09% 105.22% 497.95%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2022 Q1
OPERATING ACTIVITIES
Net Income -$83.35M -$52.14M -$43.54M
YoY Change -1413.82% -2441.45% -558.95%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$8.448M -$29.41M -$606.4M
YoY Change -98.32% -90.21% 643.03%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $152.6M $241.2M $261.4M
YoY Change -48.71% -131.32% 308.0%
Cash From Investing Activities $152.6M $241.2M $261.4M
YoY Change -48.71% -131.32% 308.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $3.003M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -136.5M -285.8M $388.6M
YoY Change -161.08% -126.98% 2391.47%
NET CHANGE
Cash From Operating Activities -8.448M -29.41M -$606.4M
Cash From Investing Activities 152.6M 241.2M $261.4M
Cash From Financing Activities -136.5M -285.8M $388.6M
Net Change In Cash 7.628M -74.02M $43.58M
YoY Change -60.36% 573.56% -2328.22%
FREE CASH FLOW
Cash From Operating Activities -$8.448M -$29.41M -$606.4M
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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2992000 usd
CY2022Q2 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
968000 usd
CY2022Q2 us-gaap Dividends Preferred Stock
DividendsPreferredStock
4000 usd
CY2022Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
11235000 usd
CY2022Q2 us-gaap Dividends Common Stock
DividendsCommonStock
11216000 usd
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
-52144000 usd
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
367284000 usd
CY2021Q1 us-gaap Stockholders Equity
StockholdersEquity
314583000 usd
CY2021Q2 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
90000 usd
CY2021Q2 us-gaap Dividends Preferred Stock
DividendsPreferredStock
4000 usd
CY2021Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
3085000 usd
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
2227000 usd
CY2021Q2 us-gaap Stockholders Equity
StockholdersEquity
496781000 usd
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
491390000 usd
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
5996000 usd
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
1839000 usd
us-gaap Dividends Preferred Stock
DividendsPreferredStock
8000 usd
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-1752000 usd
us-gaap Dividends Common Stock
DividendsCommonStock
22503000 usd
us-gaap Net Income Loss
NetIncomeLoss
-95686000 usd
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
367284000 usd
CY2020Q4 us-gaap Stockholders Equity
StockholdersEquity
248309000 usd
aomr Adjustments To Additional Paid In Capital Equity Contribution From Distribution To Common Stockholders
AdjustmentsToAdditionalPaidInCapitalEquityContributionFromDistributionToCommonStockholders
56261000 usd
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
90000 usd
us-gaap Dividends Preferred Stock
DividendsPreferredStock
8000 usd
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
3615000 usd
us-gaap Net Income Loss
NetIncomeLoss
11714000 usd
CY2021Q2 us-gaap Stockholders Equity
StockholdersEquity
496781000 usd
us-gaap Net Income Loss
NetIncomeLoss
-95686000 usd
us-gaap Net Income Loss
NetIncomeLoss
11714000 usd
aomr Realized Gain Loss On Derivatives And Investments Net
RealizedGainLossOnDerivativesAndInvestmentsNet
39133000 usd
aomr Realized Gain Loss On Derivatives And Investments Net
RealizedGainLossOnDerivativesAndInvestmentsNet
-12512000 usd
aomr Unrealized Gain Loss On Derivatives And Investments Net Cash Flow Statement
UnrealizedGainLossOnDerivativesAndInvestmentsNetCashFlowStatement
-154166000 usd
aomr Unrealized Gain Loss On Derivatives And Investments Net Cash Flow Statement
UnrealizedGainLossOnDerivativesAndInvestmentsNetCashFlowStatement
9330000 usd
us-gaap Depreciation Amortization And Accretion Net
DepreciationAmortizationAndAccretionNet
8315000 usd
us-gaap Depreciation Amortization And Accretion Net
DepreciationAmortizationAndAccretionNet
151000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
1839000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
90000 usd
aomr Increase Decrease In Payments To Purchase Mortgage Loans
IncreaseDecreaseInPaymentsToPurchaseMortgageLoans
390956000 usd
aomr Increase Decrease In Payments To Purchase Mortgage Loans
IncreaseDecreaseInPaymentsToPurchaseMortgageLoans
73546000 usd
aomr Increase Decrease In Payments To Purchase Mortgage Loans Related Party
IncreaseDecreaseInPaymentsToPurchaseMortgageLoansRelatedParty
541875000 usd
aomr Increase Decrease In Payments To Purchase Mortgage Loans Related Party
IncreaseDecreaseInPaymentsToPurchaseMortgageLoansRelatedParty
335233000 usd
aomr Increase Decrease In Principal Payments Received On Mortgage Loans
IncreaseDecreaseInPrincipalPaymentsReceivedOnMortgageLoans
205260000 usd
aomr Increase Decrease In Principal Payments Received On Mortgage Loans
IncreaseDecreaseInPrincipalPaymentsReceivedOnMortgageLoans
27481000 usd
aomr Increase Decrease On Margin Received From Posted On Derivatives
IncreaseDecreaseOnMarginReceivedFromPostedOnDerivatives
73171000 usd
aomr Increase Decrease On Margin Received From Posted On Derivatives
IncreaseDecreaseOnMarginReceivedFromPostedOnDerivatives
471000 usd
us-gaap Increase Decrease In Accrued Investment Income Receivable
IncreaseDecreaseInAccruedInvestmentIncomeReceivable
10975000 usd
us-gaap Increase Decrease In Accrued Investment Income Receivable
IncreaseDecreaseInAccruedInvestmentIncomeReceivable
13387000 usd
us-gaap Increase Decrease In Income Taxes
IncreaseDecreaseInIncomeTaxes
-3457000 usd
us-gaap Increase Decrease In Income Taxes
IncreaseDecreaseInIncomeTaxes
0 usd
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
296000 usd
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
3642000 usd
aomr Increase Decrease In Management Fee Payable
IncreaseDecreaseInManagementFeePayable
160000 usd
aomr Increase Decrease In Management Fee Payable
IncreaseDecreaseInManagementFeePayable
0 usd
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
2143000 usd
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
519000 usd
aomr Increase Decrease In Accrued Expenses Payable To Affiliates
IncreaseDecreaseInAccruedExpensesPayableToAffiliates
114000 usd
aomr Increase Decrease In Accrued Expenses Payable To Affiliates
IncreaseDecreaseInAccruedExpensesPayableToAffiliates
-158000 usd
us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
1380000 usd
us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
267000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-635830000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-382091000 usd
us-gaap Payments To Acquire Mortgage Backed Securities Mbs Categorized As Available For Sale
PaymentsToAcquireMortgageBackedSecuritiesMBSCategorizedAsAvailableForSale
419748000 usd
us-gaap Payments To Acquire Mortgage Backed Securities Mbs Categorized As Available For Sale
PaymentsToAcquireMortgageBackedSecuritiesMBSCategorizedAsAvailableForSale
881011000 usd
aomr Payments To Acquire Debt Securities Available For Sale Other
PaymentsToAcquireDebtSecuritiesAvailableForSaleOther
349992000 usd
aomr Payments To Acquire Debt Securities Available For Sale Other
PaymentsToAcquireDebtSecuritiesAvailableForSaleOther
1000000 usd
aomr Proceeds From Sale Of Debt Securities Available For Sale Other
ProceedsFromSaleOfDebtSecuritiesAvailableForSaleOther
600000000 usd
aomr Proceeds From Sale Of Debt Securities Available For Sale Other
ProceedsFromSaleOfDebtSecuritiesAvailableForSaleOther
149993000 usd
us-gaap Proceeds From Sale Of Mortgage Backed Securities Mbs Categorized As Available For Sale
ProceedsFromSaleOfMortgageBackedSecuritiesMBSCategorizedAsAvailableForSale
669913000 usd
us-gaap Proceeds From Sale Of Mortgage Backed Securities Mbs Categorized As Available For Sale
ProceedsFromSaleOfMortgageBackedSecuritiesMBSCategorizedAsAvailableForSale
19688000 usd
us-gaap Proceeds From Maturities Prepayments And Calls Of Mortgage Backed Securities Mbs
ProceedsFromMaturitiesPrepaymentsAndCallsOfMortgageBackedSecuritiesMBS
4936000 usd
us-gaap Proceeds From Maturities Prepayments And Calls Of Mortgage Backed Securities Mbs
ProceedsFromMaturitiesPrepaymentsAndCallsOfMortgageBackedSecuritiesMBS
5178000 usd
aomr Payments For Origination Of Mortgage Loans Held For Investment
PaymentsForOriginationOfMortgageLoansHeldForInvestment
3180000 usd
aomr Payments For Origination Of Mortgage Loans Held For Investment
PaymentsForOriginationOfMortgageLoansHeldForInvestment
0 usd
us-gaap Proceeds From Sale Of Loans Held For Investment
ProceedsFromSaleOfLoansHeldForInvestment
578000 usd
us-gaap Proceeds From Sale Of Loans Held For Investment
ProceedsFromSaleOfLoansHeldForInvestment
0 usd
aomr Proceeds Payments Received On Mortgage Loans Held For Investment
ProceedsPaymentsReceivedOnMortgageLoansHeldForInvestment
34000 usd
aomr Proceeds Payments Received On Mortgage Loans Held For Investment
ProceedsPaymentsReceivedOnMortgageLoansHeldForInvestment
1255000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
502541000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-705897000 usd
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
22503000 usd
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
0 usd
us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
8000 usd
us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
0 usd
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
5996000 usd
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
0 usd
us-gaap Proceeds From Contributed Capital
ProceedsFromContributedCapital
0 usd
us-gaap Proceeds From Contributed Capital
ProceedsFromContributedCapital
56261000 usd
us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
0 usd
us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
136800000 usd
us-gaap Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
0 usd
us-gaap Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
40000000 usd
us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
156031000 usd
us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
0 usd
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
457000 usd
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
77000 usd
aomr Proceeds From Securitization Financing Activities
ProceedsFromSecuritizationFinancingActivities
520044000 usd
aomr Proceeds From Securitization Financing Activities
ProceedsFromSecuritizationFinancingActivities
0 usd
us-gaap Proceeds From Payments For In Securities Sold Under Agreements To Repurchase
ProceedsFromPaymentsForInSecuritiesSoldUnderAgreementsToRepurchase
-480886000 usd
us-gaap Proceeds From Payments For In Securities Sold Under Agreements To Repurchase
ProceedsFromPaymentsForInSecuritiesSoldUnderAgreementsToRepurchase
608885000 usd
us-gaap Proceeds From Repayments Of Notes Payable
ProceedsFromRepaymentsOfNotesPayable
248693000 usd
us-gaap Proceeds From Repayments Of Notes Payable
ProceedsFromRepaymentsOfNotesPayable
233174000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
102856000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
1075043000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-30433000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-12945000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
52309000 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
45973000 usd
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
21876000 usd
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
33028000 usd
us-gaap Interest Paid Net
InterestPaidNet
22061000 usd
us-gaap Interest Paid Net
InterestPaidNet
647000 usd
CY2022Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
16100000 usd
CY2022Q2 us-gaap Restricted Cash
RestrictedCash
5800000 usd
CY2021Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
28900000 usd
CY2021Q2 us-gaap Restricted Cash
RestrictedCash
4100000 usd
CY2022Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
us-gaap Use Of Estimates
UseOfEstimates
<div style="margin-bottom:9pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">The preparation of financial statements requires the Company to make a number of significant estimates. These include estimates of fair value of certain assets and liabilities, amounts and timing of credit losses, prepayment rates, and other estimates that affect the reported amounts of certain assets and liabilities as of the date of the condensed consolidated financial statements and the reported amounts of certain </span></div>revenues and expenses during the reported periods. It is likely that changes in these estimates (e.g., valuation changes due to supply and demand, credit performance, prepayments, interest rates, or other reasons) will occur in the near term. The Company’s estimates are inherently subjective in nature and actual results could differ from the Company’s estimates and the differences could be material.
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-style:italic;font-weight:700;line-height:120%">Reclassifications</span></div><div style="text-indent:36pt"><span><br/></span></div><div style="text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Certain amounts reported in prior periods in the financial statements have been reclassified to conform to the current year’s presentation. “Other assets” on the condensed consolidated balance sheet as of December 31, 2021 in the amount of $5.3 million has been reclassified to $2.4 million of unrealized appreciation on “To be Announced” forward-settling of mortgage-backed securities trades (“TBAs”) and interest rate futures contracts - at fair value and $2.9 million of other assets, to enhance transparency of the Company’s balance sheet. The Company also reclassified the dividend paid in the first quarter of 2022 in the amount of $11.3 million from additional paid-in capital to retained earnings, as reflected in the balances of additional paid-in capital and retained earnings on the condensed consolidated balance sheet as of June 30, 2022 and the statements of stockholders’ equity beginning balances of additional paid-in capital and retained earnings as of March 31, 2022. This reclassification was a result of a review of industry standards resulting from diversity in practice noted in interpretive accounting guidance regarding dividend classification.</span></div>
us-gaap Due To And From Broker Dealers And Clearing Organizations Disclosure
DueToAndFromBrokerDealersAndClearingOrganizationsDisclosure
Due to Broker<div style="margin-top:9pt;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:112%">The “Due to broker” account on the condensed consolidated balance sheets as of June 30, 2022 in the amount of $720.4 million relates to the purchase of whole pool RMBS at quarter-end in the second quarter of 2022. Purchases are accounted for on a trade date basis; and, at times, there may be a timing difference between the trade date and the settlement date of a trade. The trade date of this purchase was prior to June 30, 2022.</span></div><div style="margin-top:9pt;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:112%">For the six months ended June 30, 2022, this transaction is excluded from the condensed consolidated statements of cash flows as it is a noncash transaction. The cash for these whole pool RMBS settled on July 14, 2022, at which time these assets were simultaneously sold.</span></div>
CY2022Q2 us-gaap Due To Correspondent Brokers
DueToCorrespondentBrokers
720400000 usd
us-gaap Schedule Of Repurchase Agreements
ScheduleOfRepurchaseAgreements
<div style="margin-bottom:9pt;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">The following table summarizes certain characteristics of the Company’s repurchase agreements as of June 30, 2022 and December 31, 2021:</span></div><div style="margin-bottom:4pt;margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:37.113%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.532%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:18.080%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.532%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:18.080%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.532%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:20.131%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">June 30, 2022</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Repurchase Agreements</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Amount Outstanding</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Weighted Average Interest Rate</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Weighted Average Remaining Maturity (Days)</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">($ in thousands)</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">RMBS</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">128,365 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1.51 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">15</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Total</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">128,365 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1.51 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">15</span></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="3" style="background-color:#cceeff;border-top:3pt double #000000;padding:0 1pt"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">December 31, 2021</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Repurchase Agreements</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Amount Outstanding</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Weighted Average Interest Rate</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Weighted Average Remaining Maturity (Days)</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">($ in thousands)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">U.S. Treasury Bills</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">248,750 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">0.12 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">6</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">RMBS</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">360,501 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">0.16 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">18</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Total</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">609,251 </span></td><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">0.15 </span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">13</span></td></tr></table></div>
CY2022Q2 us-gaap Securities Sold Under Agreements To Repurchase
SecuritiesSoldUnderAgreementsToRepurchase
128365000 usd
CY2022Q2 us-gaap Assets Sold Under Agreements To Repurchase Interest Rate
AssetsSoldUnderAgreementsToRepurchaseInterestRate
0.0151
us-gaap Repurchase Agreement Counterparty Weighted Average Maturity Of Agreements1
RepurchaseAgreementCounterpartyWeightedAverageMaturityOfAgreements1
P15D
CY2021Q4 us-gaap Securities Sold Under Agreements To Repurchase
SecuritiesSoldUnderAgreementsToRepurchase
609251000 usd
CY2021Q4 us-gaap Assets Sold Under Agreements To Repurchase Interest Rate
AssetsSoldUnderAgreementsToRepurchaseInterestRate
0.0015
CY2021 us-gaap Repurchase Agreement Counterparty Weighted Average Maturity Of Agreements1
RepurchaseAgreementCounterpartyWeightedAverageMaturityOfAgreements1
P13D
CY2022Q2 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
3214551000 usd
CY2022Q2 aomr Non Recourse Securitization Obligation Fair Value Disclosure
NonRecourseSecuritizationObligationFairValueDisclosure
444289000 usd
CY2022Q2 us-gaap Liabilities Fair Value Disclosure
LiabilitiesFairValueDisclosure
452547000 usd
CY2022Q2 aomr Non Recourse Debt Amortized Cost
NonRecourseDebtAmortizedCost
981200000 usd
CY2022Q2 aomr Non Recourse Debt Fair Value Disclosure
NonRecourseDebtFairValueDisclosure
916600000 usd
CY2022Q2 aomr Non Recourse Debt Difference Between Amortized Cost And Fair Value
NonRecourseDebtDifferenceBetweenAmortizedCostAndFairValue
64600000 usd
CY2021Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
2496758000 usd
CY2021Q4 us-gaap Liabilities Fair Value Disclosure
LiabilitiesFairValueDisclosure
728000 usd
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
362536 shares
CY2021Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
2223000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
11706000 usd
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
16746606 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
16238153 shares
CY2021Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.13
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.72
CY2021Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
2223000 usd
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
11706000 usd
CY2021Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
52054 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
26170 shares
CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
16798660 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
16264323 shares
CY2021Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.13
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.72

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