Angel Oak Mortgage REIT Inc (NYSE:AOMR)

Q3 2025 Angel Oak Mortgage REIT Inc Earnings Call Transcript

Nov 6, 2025 / 01:30 PM GMT

Release Date Price: $9.06 (-0.98%)

Transcript 10-Q8-K

Key Points

Positve

Angel Oak Mortgage REIT Inc (AOMR) reported a 13% growth in net interest income compared to the third quarter of 2024.
The company successfully reallocated capital into high-yielding assets, improving loan financing and funding costs.
GAAP book value per share increased by over 2% compared to the second quarter, driven by portfolio valuation increases.
Operating expenses, excluding securitization costs and stock compensation, were 13% lower than in the third quarter of 2024.
The securitization market remains strong, with spreads tightening and efficient execution supporting valuation and earnings growth.

Negative

Economic book value per share decreased by 1.9% from the previous quarter, indicating potential valuation challenges.
The company faces increased competition in the non-QM space, which could impact future growth and margins.
The difference between GAAP net income and distributable earnings was significant, driven by unrealized gains on residential loan portfolios and hedge contracts.
Prepayment speeds for RMBS and securitized loan portfolios decreased marginally, which could affect future returns.
The company's recourse debt to equity ratio was 1.9 times, indicating a relatively high level of leverage.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

AOMR.N - Angel Oak Mortgage REIT Inc
Q3 2025 Angel Oak Mortgage REIT Inc Earnings Call
Nov 06, 2025 / 01:30PM GMT

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Presentation
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Unidentified_1 [1]
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Good day and welcome to the Angel Oak Mortgage Reed 3rd quarter 2025 earnings conference call.

All participants will be less than or more. Should you need assistance, please signal a conference specialist by pressing the key, followed by zero.

After today's presentation, there will be an opportunity to ask a question. To ask a question, you may press star, then one on your telephone keypad.

To withdraw your question, please press star and then 2.

Please note this event is being recorded.

I would now like to turn the conscience over to Mr. Casey Keller. Please go ahead.

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