2024 Q4 Form 10-Q Financial Statement

#000176647824000108 Filed on November 07, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3
Revenue $27.44M
YoY Change 14.83%
Cost Of Revenue $0.00
YoY Change -100.0%
Gross Profit $9.020M
YoY Change 29.04%
Gross Profit Margin 32.87%
Selling, General & Admin $1.808M
YoY Change -4.34%
% of Gross Profit 20.04%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $2.280M
YoY Change -40.78%
Operating Profit $6.740M
YoY Change 114.65%
Interest Expense $28.84M
YoY Change 74.88%
% of Operating Profit 427.85%
Other Income/Expense, Net -$1.287M
YoY Change
Pretax Income $34.04M
YoY Change 311.41%
Income Tax $2.832M
% Of Pretax Income 8.32%
Net Earnings $31.20M
YoY Change 277.18%
Net Earnings / Revenue 113.7%
Basic Earnings Per Share $1.31
Diluted Earnings Per Share $1.29
COMMON SHARES
Basic Shares Outstanding 23.51M shares 23.32M shares
Diluted Shares Outstanding 24.08M shares

Balance Sheet

Concept 2024 Q4 2024 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $42.05M
YoY Change 0.36%
Cash & Equivalents $42.05M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $48.68M
YoY Change 4.47%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $333.1M
YoY Change -55.64%
Other Assets $2.679M
YoY Change -40.47%
Total Long-Term Assets $2.255B
YoY Change 0.27%
TOTAL ASSETS
Total Short-Term Assets $48.68M
Total Long-Term Assets $2.255B
Total Assets $2.304B
YoY Change 0.36%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $3.969M
YoY Change 24.03%
Deferred Revenue
YoY Change
Short-Term Debt $102.9M
YoY Change -45.31%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $304.4M
YoY Change -56.81%
LONG-TERM LIABILITIES
Long-Term Debt $1.734B
YoY Change 27.62%
Other Long-Term Liabilities $0.00
YoY Change
Total Long-Term Liabilities $1.734B
YoY Change 27.62%
TOTAL LIABILITIES
Total Short-Term Liabilities $304.4M
Total Long-Term Liabilities $1.734B
Total Liabilities $2.039B
YoY Change -1.21%
SHAREHOLDERS EQUITY
Retained Earnings -$195.9M
YoY Change -17.27%
Common Stock $234.0K
YoY Change -6.02%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $265.1M
YoY Change
Total Liabilities & Shareholders Equity $2.304B
YoY Change 0.36%

Cashflow Statement

Concept 2024 Q4 2024 Q3
OPERATING ACTIVITIES
Net Income $31.20M
YoY Change 277.18%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$212.4M
YoY Change -463.07%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $97.10M
YoY Change -31.62%
Cash From Investing Activities $97.10M
YoY Change -31.62%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 113.9M
YoY Change -150.34%
NET CHANGE
Cash From Operating Activities -212.4M
Cash From Investing Activities 97.10M
Cash From Financing Activities 113.9M
Net Change In Cash -1.371M
YoY Change -94.69%
FREE CASH FLOW
Cash From Operating Activities -$212.4M
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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AmortizationOfDebtDiscountPremium
1989000 usd
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
2199000 usd
us-gaap Accretion Expense
AccretionExpense
3455000 usd
us-gaap Accretion Expense
AccretionExpense
1251000 usd
us-gaap Depreciation Amortization And Accretion Net
DepreciationAmortizationAndAccretionNet
-548000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
1864000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
1195000 usd
aomr Increase Decrease On Margin Received From Posted On Derivatives
IncreaseDecreaseOnMarginReceivedFromPostedOnDerivatives
4618000 usd
aomr Increase Decrease On Margin Received From Posted On Derivatives
IncreaseDecreaseOnMarginReceivedFromPostedOnDerivatives
12602000 usd
us-gaap Increase Decrease In Accrued Investment Income Receivable
IncreaseDecreaseInAccruedInvestmentIncomeReceivable
-868000 usd
us-gaap Increase Decrease In Accrued Investment Income Receivable
IncreaseDecreaseInAccruedInvestmentIncomeReceivable
-12806000 usd
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
1461000 usd
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
716000 usd
us-gaap Increase Decrease In Management Fee Payable
IncreaseDecreaseInManagementFeePayable
-1367000 usd
us-gaap Increase Decrease In Management Fee Payable
IncreaseDecreaseInManagementFeePayable
-512000 usd
us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
1544000 usd
us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
781000 usd
us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
492000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-196380000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
353744000 usd
us-gaap Payments To Acquire Mortgage Backed Securities Mbs Categorized As Available For Sale
PaymentsToAcquireMortgageBackedSecuritiesMBSCategorizedAsAvailableForSale
5733000 usd
us-gaap Payments To Acquire Mortgage Backed Securities Mbs Categorized As Available For Sale
PaymentsToAcquireMortgageBackedSecuritiesMBSCategorizedAsAvailableForSale
1006023000 usd
us-gaap Payments To Acquire Trading Securities Heldforinvestment
PaymentsToAcquireTradingSecuritiesHeldforinvestment
935573000 usd
us-gaap Payments To Acquire Trading Securities Heldforinvestment
PaymentsToAcquireTradingSecuritiesHeldforinvestment
853934000 usd
us-gaap Proceeds From Sale Of Mortgage Backed Securities Mbs Categorized As Available For Sale
ProceedsFromSaleOfMortgageBackedSecuritiesMBSCategorizedAsAvailableForSale
0 usd
us-gaap Proceeds From Sale Of Mortgage Backed Securities Mbs Categorized As Available For Sale
ProceedsFromSaleOfMortgageBackedSecuritiesMBSCategorizedAsAvailableForSale
1006196000 usd
us-gaap Proceeds From Sale Of Trading Securities Heldforinvestment
ProceedsFromSaleOfTradingSecuritiesHeldforinvestment
927047000 usd
us-gaap Proceeds From Sale Of Trading Securities Heldforinvestment
ProceedsFromSaleOfTradingSecuritiesHeldforinvestment
832542000 usd
aomr Payments To Acquire Debt Securities Available For Sale Other
PaymentsToAcquireDebtSecuritiesAvailableForSaleOther
349595000 usd
aomr Payments To Acquire Debt Securities Available For Sale Other
PaymentsToAcquireDebtSecuritiesAvailableForSaleOther
848617000 usd
us-gaap Payments To Acquire Businesses And Interest In Affiliates
PaymentsToAcquireBusinessesAndInterestInAffiliates
2253000 usd
us-gaap Payments To Acquire Businesses And Interest In Affiliates
PaymentsToAcquireBusinessesAndInterestInAffiliates
14657000 usd
us-gaap Proceeds From Maturities Prepayments And Calls Of Mortgage Backed Securities Mbs
ProceedsFromMaturitiesPrepaymentsAndCallsOfMortgageBackedSecuritiesMBS
2122000 usd
us-gaap Proceeds From Maturities Prepayments And Calls Of Mortgage Backed Securities Mbs
ProceedsFromMaturitiesPrepaymentsAndCallsOfMortgageBackedSecuritiesMBS
816000 usd
aomr Proceeds From Sale Of Debt Securities Available For Sale Other
ProceedsFromSaleOfDebtSecuritiesAvailableForSaleOther
450000000 usd
aomr Proceeds From Sale And Collection Of Loans Held For Sale Third Parties
ProceedsFromSaleAndCollectionOfLoansHeldForSaleThirdParties
0 usd
aomr Proceeds From Sale And Collection Of Loans Held For Sale Third Parties
ProceedsFromSaleAndCollectionOfLoansHeldForSaleThirdParties
4326000 usd
aomr Proceeds Payments Received On Mortgage Loans Held For Investment
ProceedsPaymentsReceivedOnMortgageLoansHeldForInvestment
25000 usd
aomr Proceeds Payments Received On Mortgage Loans Held For Investment
ProceedsPaymentsReceivedOnMortgageLoansHeldForInvestment
26000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
86040000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-179325000 usd
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
23514000 usd
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
23942000 usd
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
19950000 usd
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
0 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
2252000 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
0 usd
us-gaap Proceeds From Accounts Receivable Securitization
ProceedsFromAccountsReceivableSecuritization
274793000 usd
us-gaap Proceeds From Accounts Receivable Securitization
ProceedsFromAccountsReceivableSecuritization
0 usd
us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
122070000 usd
us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
74179000 usd
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
1013000 usd
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
0 usd
us-gaap Proceeds From Payments For In Securities Sold Under Agreements To Repurchase
ProceedsFromPaymentsForInSecuritiesSoldUnderAgreementsToRepurchase
-90780000 usd
us-gaap Proceeds From Payments For In Securities Sold Under Agreements To Repurchase
ProceedsFromPaymentsForInSecuritiesSoldUnderAgreementsToRepurchase
135557000 usd
us-gaap Proceeds From Issuance Of Senior Long Term Debt
ProceedsFromIssuanceOfSeniorLongTermDebt
48425000 usd
us-gaap Proceeds From Issuance Of Senior Long Term Debt
ProceedsFromIssuanceOfSeniorLongTermDebt
0 usd
us-gaap Proceeds From Repayments Of Notes Payable
ProceedsFromRepaymentsOfNotesPayable
42432000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
110575000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
235000 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
44496000 usd
us-gaap Interest Paid Net
InterestPaidNet
46386000 usd
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 revenues and expenses during the reported periods. It is likely that changes in these estimates (e.g., fair value changes due to inputs and underlying assumptions as described in Note 9 — </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:120%">Fair Value Measurements</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">, 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.</span></div>
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><span><br/></span></div><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%">Certain comparative period amounts in the condensed consolidated financial statements have been reclassified for consistency with current period presentation. These reclassifications had no effect on the reported results of operations. Specifically, certain cash flows previously presented as cash flows from operating activities on the condensed consolidated statements of cash flows for the nine months-ended September 30, 2023, have been reclassified to cash flows from investing activities as Purchases of investments in majority-owned affiliates.</span></div>
CY2024Q3 us-gaap Due To Correspondent Brokers
DueToCorrespondentBrokers
195000000 usd
us-gaap Due To And From Broker Dealers And Clearing Organizations Disclosure
DueToAndFromBrokerDealersAndClearingOrganizationsDisclosure
<span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Due to Broker</span><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:120%">The “Due to broker” account on the condensed consolidated balance sheets as of September 30, 2024 and December 31, 2023, respectively, in the amounts of $195 million and $392 million relates to the purchase of Whole Pool Agency RMBS at quarter-end in the third and fourth quarters of 2024 and 2023, respectively. Purchases are accounted for on a trade date basis, and, at times, there may be a timing difference between accounting periods for the trade date and the settlement date of a trade. The trade dates of these purchases were prior to the applicable quarter-end dates. These trades settled on October 15, 2024 and January 16, 2024, respectively, at which time these assets were simultaneously sold.</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:120%">The purchase transactions of these Whole Pool Agency RMBS are excluded from the condensed consolidated statements of cash flows until settled.</span></div>
CY2024Q3 us-gaap Due To Correspondent Brokers
DueToCorrespondentBrokers
195000000 usd
CY2023Q4 us-gaap Due To Correspondent Brokers
DueToCorrespondentBrokers
392000000 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, 2024 and December 31, 2023:</span></div><div><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><td style="width:37.113%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.532%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:18.080%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.532%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:18.080%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.532%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:20.131%"></td><td style="width:0.1%"></td></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, 2024</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></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><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><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><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><td colspan="3" style="padding:0 1pt"></td><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><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></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 securities</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><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%">49,712 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><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%">4.90 </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><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%">3</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">AOMT RMBS </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><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%">53,164 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><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%">6.35 </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><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><td style="background-color:#cceeff;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:#cceeff;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%">102,876 </span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><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%">5.65 </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><td colspan="3" style="background-color:#cceeff;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%">11</span></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></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%">December 31, 2023</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></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:8pt;font-weight:700;line-height:100%">Repurchase Agreements</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;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:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;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:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;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="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">U.S. Treasury securities</span></div></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;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-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%">149,013 </span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><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%">5.57 </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><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%">10</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">AOMT RMBS </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><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%">44,643 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><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%">7.04 </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><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%">16</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><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%">193,656 </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><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><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%">5.91 </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><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%">11</span></td></tr></table></div><div style="text-indent:36pt"><span><br/></span></div><div style="margin-bottom:9pt;padding-left:36pt;text-indent:-36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.85pt;font-weight:400;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">     A portion of repurchase debt outstanding as of both September 30, 2024 and December 31, 2023 includes borrowings against retained bonds received from on-balance sheet securitizations (i.e., consolidated VIEs). See Note 4 - </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:120%">Investment Securities.</span></div>
CY2024Q3 us-gaap Securities Sold Under Agreements To Repurchase
SecuritiesSoldUnderAgreementsToRepurchase
102876000 usd
CY2024Q3 us-gaap Assets Sold Under Agreements To Repurchase Interest Rate
AssetsSoldUnderAgreementsToRepurchaseInterestRate
0.0565
us-gaap Repurchase Agreement Counterparty Weighted Average Maturity Of Agreements1
RepurchaseAgreementCounterpartyWeightedAverageMaturityOfAgreements1
P11D
CY2023Q4 us-gaap Securities Sold Under Agreements To Repurchase
SecuritiesSoldUnderAgreementsToRepurchase
193656000 usd
CY2023Q4 us-gaap Assets Sold Under Agreements To Repurchase Interest Rate
AssetsSoldUnderAgreementsToRepurchaseInterestRate
0.0591
CY2023 us-gaap Repurchase Agreement Counterparty Weighted Average Maturity Of Agreements1
RepurchaseAgreementCounterpartyWeightedAverageMaturityOfAgreements1
P11D
CY2024Q3 us-gaap Other Assets Fair Value Disclosure
OtherAssetsFairValueDisclosure
11178000 usd
CY2024Q3 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
2227721000 usd
CY2024Q3 aomr Non Recourse Securitization Obligation Fair Value Disclosure
NonRecourseSecuritizationObligationFairValueDisclosure
1289236000 usd
CY2024Q3 us-gaap Liabilities Fair Value Disclosure
LiabilitiesFairValueDisclosure
1289236000 usd
CY2024Q3 aomr Non Recourse Debt Amortized Cost
NonRecourseDebtAmortizedCost
1380000000 usd
CY2024Q3 aomr Non Recourse Debt Fair Value Disclosure
NonRecourseDebtFairValueDisclosure
1290000000 usd
CY2024Q3 aomr Non Recourse Debt Difference Between Amortized Cost And Fair Value
NonRecourseDebtDifferenceBetweenAmortizedCostAndFairValue
87000000 usd
CY2023Q4 aomr Non Recourse Debt Amortized Cost
NonRecourseDebtAmortizedCost
1240000000 usd
CY2023Q4 aomr Non Recourse Debt Fair Value Disclosure
NonRecourseDebtFairValueDisclosure
1090000000.00 usd
CY2023Q4 aomr Non Recourse Debt Difference Between Amortized Cost And Fair Value
NonRecourseDebtDifferenceBetweenAmortizedCostAndFairValue
156400000 usd
CY2023Q4 us-gaap Other Assets Fair Value Disclosure
OtherAssetsFairValueDisclosure
32923000 usd
CY2023Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
2256015000 usd
CY2023Q4 aomr Non Recourse Securitization Obligation Fair Value Disclosure
NonRecourseSecuritizationObligationFairValueDisclosure
743189000 usd
CY2023Q4 us-gaap Liabilities Fair Value Disclosure
LiabilitiesFairValueDisclosure
741855000 usd
CY2024Q3 us-gaap Unrecorded Unconditional Purchase Obligation Balance Sheet Amount
UnrecordedUnconditionalPurchaseObligationBalanceSheetAmount
93300000 usd
CY2024Q3 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
18720000 usd
CY2023Q4 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
16232000 usd
CY2024Q3 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
3457000 usd
CY2023Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
3457000 usd
CY2024Q3 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
1570000 usd
CY2023Q4 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
1137000 usd
CY2024Q3 aomr Protective Advances And Other
ProtectiveAdvancesAndOther
1037000 usd
CY2023Q4 aomr Protective Advances And Other
ProtectiveAdvancesAndOther
285000 usd
CY2024Q3 us-gaap Other Assets
OtherAssets
35962000 usd
CY2023Q4 us-gaap Other Assets
OtherAssets
32922000 usd
CY2024Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
31204000 usd
CY2023Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
8273000 usd
CY2024Q3 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
38000 usd
CY2023Q3 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
60000 usd
CY2024Q3 us-gaap Undistributed Earnings
UndistributedEarnings
31166000 usd
CY2023Q3 us-gaap Undistributed Earnings
UndistributedEarnings
8213000 usd
CY2024Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
23757039 shares
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
24768921 shares
CY2024Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.31
CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.33
CY2024Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
31204000 usd
CY2024Q3 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Diluted
UndistributedEarningsLossAllocatedToParticipatingSecuritiesDiluted
38000 usd
CY2023Q3 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Diluted
UndistributedEarningsLossAllocatedToParticipatingSecuritiesDiluted
60000 usd
CY2024Q3 us-gaap Undistributed Earnings Diluted
UndistributedEarningsDiluted
31166000 usd
CY2023Q3 us-gaap Undistributed Earnings Diluted
UndistributedEarningsDiluted
8213000 usd
CY2024Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
23757039 shares
CY2024Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
322208 shares
CY2023Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
188747 shares
CY2024Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
24079247 shares
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
24957668 shares
CY2023Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.33
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
43806000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
5115000 usd
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
115000 usd
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
123000 usd
us-gaap Undistributed Earnings
UndistributedEarnings
43691000 usd
us-gaap Undistributed Earnings
UndistributedEarnings
4992000 usd
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
24445105 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
24706568 shares
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.79
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.20
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Diluted
UndistributedEarningsLossAllocatedToParticipatingSecuritiesDiluted
115000 usd
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Diluted
UndistributedEarningsLossAllocatedToParticipatingSecuritiesDiluted
123000 usd
us-gaap Undistributed Earnings Diluted
UndistributedEarningsDiluted
43691000 usd
us-gaap Undistributed Earnings Diluted
UndistributedEarningsDiluted
4992000 usd
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
24445105 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
333360 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
227265 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
24778465 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
24933833 shares
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.76
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.20
CY2024Q3 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q3 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q3 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2024Q3 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false

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