2022 Q4 Form 10-Q Financial Statement

#000176647822000131 Filed on November 14, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3 2021 Q3
Revenue $7.410M $11.74M $15.59M
YoY Change -55.34% -24.68% 66.05%
Cost Of Revenue $3.000K $1.115M $0.00
YoY Change
Gross Profit $7.407M $10.63M $12.99M
YoY Change -55.36% -18.19% 51.04%
Gross Profit Margin 99.96% 90.5% 83.33%
Selling, General & Admin $2.543M $5.291M $1.846M
YoY Change -29.24% 186.62% 92.69%
% of Gross Profit 34.33% 49.8% 14.21%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $2.543M $7.432M $6.321M
YoY Change -54.36% 17.58% 237.84%
Operating Profit $4.864M $3.193M $6.667M
YoY Change -55.87% -52.11% -0.91%
Interest Expense -$11.87M -$83.57M $2.599M
YoY Change 211.38% -3315.28% 229.82%
% of Operating Profit -244.1% -2617.13% 38.98%
Other Income/Expense, Net -$1.790M -$2.764M
YoY Change
Pretax Income -$8.799M -$83.35M $6.344M
YoY Change -288.94% -1413.82% 49.55%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income 0.0%
Net Earnings -$8.801M -$83.35M $6.344M
YoY Change -387.9% -1413.82% 49.55%
Net Earnings / Revenue -118.77% -709.96% 40.7%
Basic Earnings Per Share -$3.40 $0.25
Diluted Earnings Per Share -$0.36 -$3.401M $0.25
COMMON SHARES
Basic Shares Outstanding 24.93M shares 24.94M shares 25.00M shares
Diluted Shares Outstanding 24.51M shares 25.47M shares

Balance Sheet

Concept 2022 Q4 2022 Q3 2021 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $29.27M $20.55M $49.18M
YoY Change -28.26% -58.21% 669.95%
Cash & Equivalents $29.27M $20.55M $49.20M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $46.77M $64.82M $61.49M
YoY Change -29.97% 5.42% 490.17%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $1.061B $1.078B $713.0M
YoY Change 42.21% 51.12% 244.29%
Other Assets $14.05M $12.41M $3.093M
YoY Change 22.05% 301.29% 522.33%
Total Long-Term Assets $2.899B $3.241B $1.774B
YoY Change 15.46% 82.68% 494.58%
TOTAL ASSETS
Total Short-Term Assets $46.77M $64.82M $61.49M
Total Long-Term Assets $2.899B $3.241B $1.774B
Total Assets $2.946B $3.306B $1.836B
YoY Change 14.29% 80.09% 494.43%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $5.845M $10.84M $2.127M
YoY Change 85.56% 409.64% 218.41%
Deferred Revenue
YoY Change
Short-Term Debt $52.54M $67.45M $489.3M
YoY Change -91.38% -86.21% 868.1%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.066B $1.086B $493.3M
YoY Change 73.16% 120.07% 863.23%
LONG-TERM LIABILITIES
Long-Term Debt $1.643B $1.955B $841.3M
YoY Change 11.8% 132.42% 2265.34%
Other Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change -100.0% -100.0%
Total Long-Term Liabilities $1.643B $1.955B $841.3M
YoY Change 11.74% 132.42% 2264.28%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.066B $1.086B $493.3M
Total Long-Term Liabilities $1.643B $1.955B $841.3M
Total Liabilities $2.710B $3.041B $1.335B
YoY Change 29.87% 127.85% 1437.63%
SHAREHOLDERS EQUITY
Retained Earnings -$218.0M -$201.2M $17.59M
YoY Change -1991.4% -1244.08%
Common Stock $249.0K $249.0K $254.0K
YoY Change -1.19% -1.97%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $236.5M $265.0M $501.1M
YoY Change
Total Liabilities & Shareholders Equity $2.946B $3.306B $1.836B
YoY Change 14.29% 80.09% 494.43%

Cashflow Statement

Concept 2022 Q4 2022 Q3 2021 Q3
OPERATING ACTIVITIES
Net Income -$8.801M -$83.35M $6.344M
YoY Change -387.9% -1413.82% 49.55%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities $313.2M -$8.448M -$501.6M
YoY Change -145.77% -98.32% -1262.37%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $9.240M $152.6M $297.4M
YoY Change -117.77% -48.71% -42.09%
Cash From Investing Activities $9.240M $152.6M $297.4M
YoY Change -117.77% -48.71% -42.09%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -312.0M -136.5M 223.5M
YoY Change -142.38% -161.08% -135.7%
NET CHANGE
Cash From Operating Activities 313.2M -8.448M -501.6M
Cash From Investing Activities 9.240M 152.6M 297.4M
Cash From Financing Activities -312.0M -136.5M 223.5M
Net Change In Cash 10.36M 7.628M 19.24M
YoY Change 26456.41% -60.36% -127.81%
FREE CASH FLOW
Cash From Operating Activities $313.2M -$8.448M -$501.6M
Capital Expenditures
Free Cash Flow
YoY Change

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CY2022Q3 us-gaap Dividends Preferred Stock
DividendsPreferredStock
4000 usd
CY2022Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-10227000 usd
CY2022Q3 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.45
CY2022Q3 us-gaap Dividends Common Stock
DividendsCommonStock
11221000 usd
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
-83349000 usd
CY2022Q3 us-gaap Stockholders Equity
StockholdersEquity
264957000 usd
CY2021Q2 us-gaap Stockholders Equity
StockholdersEquity
496781000 usd
CY2021Q3 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
1653000 usd
CY2021Q3 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.12
CY2021Q3 us-gaap Dividends Common Stock
DividendsCommonStock
3056000 usd
CY2021Q3 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
833000 usd
CY2021Q3 us-gaap Dividends Preferred Stock
DividendsPreferredStock
5000 usd
CY2021Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
1818000 usd
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
6344000 usd
CY2021Q3 us-gaap Stockholders Equity
StockholdersEquity
501062000 usd
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
491390000 usd
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
6862000 usd
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
5179000 usd
us-gaap Dividends Preferred Stock
DividendsPreferredStock
11000 usd
us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.12
us-gaap Net Income Loss
NetIncomeLoss
-179035000 usd
us-gaap Net Income Loss
NetIncomeLoss
18056000 usd
aomr Realized Gain Loss On Derivatives And Investments Net
RealizedGainLossOnDerivativesAndInvestmentsNet
56423000 usd
us-gaap Dividends Preferred Stock
DividendsPreferredStock
11000 usd
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-11979000 usd
us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.45
us-gaap Dividends Common Stock
DividendsCommonStock
33725000 usd
us-gaap Net Income Loss
NetIncomeLoss
-179035000 usd
CY2022Q3 us-gaap Stockholders Equity
StockholdersEquity
264957000 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 Repurchased During Period Value
StockRepurchasedDuringPeriodValue
1654000 usd
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
924000 usd
us-gaap Dividends Common Stock
DividendsCommonStock
3056000 usd
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
5433000 usd
us-gaap Net Income Loss
NetIncomeLoss
18056000 usd
CY2021Q3 us-gaap Stockholders Equity
StockholdersEquity
501062000 usd
aomr Increase Decrease In Payments To Purchase Mortgage Loans
IncreaseDecreaseInPaymentsToPurchaseMortgageLoans
202387000 usd
aomr Increase Decrease On Margin Received From Posted On Derivatives
IncreaseDecreaseOnMarginReceivedFromPostedOnDerivatives
-9297000 usd
us-gaap Increase Decrease In Accrued Investment Income Receivable
IncreaseDecreaseInAccruedInvestmentIncomeReceivable
12689000 usd
aomr Increase Decrease In Payments To Purchase Mortgage Loans Related Party
IncreaseDecreaseInPaymentsToPurchaseMortgageLoansRelatedParty
567324000 usd
aomr Increase Decrease In Payments To Purchase Mortgage Loans Related Party
IncreaseDecreaseInPaymentsToPurchaseMortgageLoansRelatedParty
751416000 usd
aomr Realized Gain Loss On Derivatives And Investments Net
RealizedGainLossOnDerivativesAndInvestmentsNet
-19656000 usd
aomr Unrealized Gain Loss On Derivatives And Investments Net Cash Flow Statement
UnrealizedGainLossOnDerivativesAndInvestmentsNetCashFlowStatement
-255021000 usd
aomr Unrealized Gain Loss On Derivatives And Investments Net Cash Flow Statement
UnrealizedGainLossOnDerivativesAndInvestmentsNetCashFlowStatement
16151000 usd
us-gaap Depreciation Amortization And Accretion Net
DepreciationAmortizationAndAccretionNet
9330000 usd
us-gaap Depreciation Amortization And Accretion Net
DepreciationAmortizationAndAccretionNet
438000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
5179000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
924000 usd
aomr Increase Decrease In Payments To Purchase Mortgage Loans
IncreaseDecreaseInPaymentsToPurchaseMortgageLoans
427940000 usd
aomr Increase Decrease In Principal Payments Received On Mortgage Loans
IncreaseDecreaseInPrincipalPaymentsReceivedOnMortgageLoans
249056000 usd
aomr Increase Decrease In Principal Payments Received On Mortgage Loans
IncreaseDecreaseInPrincipalPaymentsReceivedOnMortgageLoans
63199000 usd
us-gaap Increase Decrease In Payables To Broker Dealers
IncreaseDecreaseInPayablesToBrokerDealers
-200000 usd
us-gaap Increase Decrease In Payables To Broker Dealers
IncreaseDecreaseInPayablesToBrokerDealers
0 usd
aomr Increase Decrease On Margin Received From Posted On Derivatives
IncreaseDecreaseOnMarginReceivedFromPostedOnDerivatives
75689000 usd
aomr Increase Decrease In Accrued Expenses Payable To Affiliates
IncreaseDecreaseInAccruedExpensesPayableToAffiliates
17000 usd
us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
3169000 usd
us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
509000 usd
aomr Payments To Acquire Debt Securities Available For Sale Other
PaymentsToAcquireDebtSecuritiesAvailableForSaleOther
349992000 usd
us-gaap Increase Decrease In Accrued Investment Income Receivable
IncreaseDecreaseInAccruedInvestmentIncomeReceivable
7255000 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
-467000 usd
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
2497000 usd
aomr Increase Decrease In Management Fee Payable
IncreaseDecreaseInManagementFeePayable
161000 usd
aomr Increase Decrease In Management Fee Payable
IncreaseDecreaseInManagementFeePayable
1845000 usd
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
3084000 usd
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
637000 usd
aomr Increase Decrease In Accrued Expenses Payable To Affiliates
IncreaseDecreaseInAccruedExpensesPayableToAffiliates
1634000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-644278000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-883722000 usd
us-gaap Payments To Acquire Mortgage Backed Securities Mbs Categorized As Available For Sale
PaymentsToAcquireMortgageBackedSecuritiesMBSCategorizedAsAvailableForSale
1140153000 usd
us-gaap Payments To Acquire Mortgage Backed Securities Mbs Categorized As Available For Sale
PaymentsToAcquireMortgageBackedSecuritiesMBSCategorizedAsAvailableForSale
1462966000 usd
us-gaap Proceeds From Sale Of Loans Held For Investment
ProceedsFromSaleOfLoansHeldForInvestment
11026000 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
44000 usd
aomr Proceeds Payments Received On Mortgage Loans Held For Investment
ProceedsPaymentsReceivedOnMortgageLoansHeldForInvestment
1401000 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
424984000 usd
us-gaap Proceeds From Sale Of Mortgage Backed Securities Mbs Categorized As Available For Sale
ProceedsFromSaleOfMortgageBackedSecuritiesMBSCategorizedAsAvailableForSale
1524129000 usd
us-gaap Proceeds From Sale Of Mortgage Backed Securities Mbs Categorized As Available For Sale
ProceedsFromSaleOfMortgageBackedSecuritiesMBSCategorizedAsAvailableForSale
623364000 usd
us-gaap Proceeds From Maturities Prepayments And Calls Of Mortgage Backed Securities Mbs
ProceedsFromMaturitiesPrepaymentsAndCallsOfMortgageBackedSecuritiesMBS
13219000 usd
us-gaap Proceeds From Maturities Prepayments And Calls Of Mortgage Backed Securities Mbs
ProceedsFromMaturitiesPrepaymentsAndCallsOfMortgageBackedSecuritiesMBS
7238000 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
1500000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
655093000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-408479000 usd
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
33725000 usd
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
3056000 usd
us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
11000 usd
us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
0 usd
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
6862000 usd
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
1654000 usd
us-gaap Proceeds From Contributed Capital
ProceedsFromContributedCapital
0 usd
us-gaap Proceeds From Contributed Capital
ProceedsFromContributedCapital
56262000 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
177111000 usd
us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
14449000 usd
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-457000 usd
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-1600000 usd
aomr Proceeds From Securitization Financing Activities
ProceedsFromSecuritizationFinancingActivities
675360000 usd
aomr Proceeds From Securitization Financing Activities
ProceedsFromSecuritizationFinancingActivities
306352000 usd
us-gaap Proceeds From Payments For In Securities Sold Under Agreements To Repurchase
ProceedsFromPaymentsForInSecuritiesSoldUnderAgreementsToRepurchase
-543727000 usd
us-gaap Proceeds From Payments For In Securities Sold Under Agreements To Repurchase
ProceedsFromPaymentsForInSecuritiesSoldUnderAgreementsToRepurchase
310996000 usd
us-gaap Proceeds From Repayments Of Notes Payable
ProceedsFromRepaymentsOfNotesPayable
52913000 usd
us-gaap Proceeds From Repayments Of Notes Payable
ProceedsFromRepaymentsOfNotesPayable
468847000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-33620000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
1298498000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-22805000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
6297000 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
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
29504000 usd
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
52270000 usd
us-gaap Interest Paid Net
InterestPaidNet
38535000 usd
us-gaap Interest Paid Net
InterestPaidNet
2170000 usd
CY2022Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
20500000 usd
CY2022Q3 us-gaap Restricted Cash
RestrictedCash
9000000 usd
CY2021Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
49200000 usd
CY2021Q3 us-gaap Restricted Cash
RestrictedCash
3000000 usd
CY2021Q2 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. For comparative purposes, and to enhance transparency of the Company’s balance sheet, “other assets” on the condensed consolidated balance sheet as of December 31, 2021 in the amount of $2.4 million have been reclassified to unrealized appreciation on “To be Announced” forward-settling of mortgage-backed securities trades (“TBAs”) and interest rate futures contracts - at fair value, leaving a remaining balance of $2.9 million of other assets.</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 September 30, 2022 in the amount of $1.0 billion relates to the purchase of whole pool RMBS at quarter-end in the third 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 September 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 nine months ended September 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 October 13, 2022, at which time these assets were simultaneously sold.</span></div>
CY2022Q3 us-gaap Due To Correspondent Brokers
DueToCorrespondentBrokers
1000000000 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 September 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%">September 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%">$</span></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">67,454 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">4.50 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">15</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Total</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$</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%">67,454 </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%">4.50 </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>
CY2022Q3 us-gaap Securities Sold Under Agreements To Repurchase
SecuritiesSoldUnderAgreementsToRepurchase
67454000 usd
CY2022Q3 us-gaap Assets Sold Under Agreements To Repurchase Interest Rate
AssetsSoldUnderAgreementsToRepurchaseInterestRate
0.0450
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
CY2022Q3 aomr Non Recourse Debt Amortized Cost
NonRecourseDebtAmortizedCost
1100000000 usd
CY2022Q3 aomr Non Recourse Debt Fair Value Disclosure
NonRecourseDebtFairValueDisclosure
992900000 usd
CY2022Q3 aomr Non Recourse Debt Difference Between Amortized Cost And Fair Value
NonRecourseDebtDifferenceBetweenAmortizedCostAndFairValue
116800000 usd
CY2022Q3 aomr Number Of Agreements Fair Value Option
NumberOfAgreementsFairValueOption
2 obligation
CY2022Q3 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
3227678000 usd
CY2022Q3 aomr Non Recourse Securitization Obligation Fair Value Disclosure
NonRecourseSecuritizationObligationFairValueDisclosure
562564000 usd
CY2022Q3 us-gaap Liabilities Fair Value Disclosure
LiabilitiesFairValueDisclosure
562564000 usd
CY2021Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
2496758000 usd
CY2021Q4 us-gaap Liabilities Fair Value Disclosure
LiabilitiesFairValueDisclosure
728000 usd
CY2021Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.25
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.93
CY2022Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
425461 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
425461 shares
CY2021Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
6340000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
18045000 usd
CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
24999891 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
19190827 shares
CY2021Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.25
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.94
CY2021Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
6340000 usd
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
18045000 usd
CY2021Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
470335 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
175852 shares
CY2021Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
25470226 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
19366679 shares

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