Bimini Capital Q2 2026: Net Income Reaches $0.4M, Book Value Climbs to $1.38/Share
BMNM has more than doubled off its 52-week low of $0.6 on light trading volume (0.1× avg).
Summary
Bimini Capital Management posted Q2 2026 net income of $0.4 million, or $0.04 per share, as advisory services revenue surged to $6.8 million following the TJIM acquisition. Book value per share advanced to $1.38.
Key Events · Earnings and Guidance · BMNM
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Q2 Net Income of $0.4M
Net income came in at $0.4 million, or $0.04 per share, compared to $0.04 million, or $0.00 per share, in Q2 2025. For the first six months, net income totaled $1.2 million, or $0.12 per share, versus $0.6 million, or $0.06 per share, in H1 2025.
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Advisory Revenue Surges on TJIM
Advisory services revenue jumped to $6.8 million in Q2 2026 from $3.8 million in Q2 2025, driven by the TJIM acquisition (closed April 1, 2026), which contributed $1.7 million, and higher management fees from Orchid Island Capital as its average equity grew to $1.4 billion.
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Book Value Per Share Rises to $1.38
Book value per share increased to $1.38 at June 30, 2026, from $1.34 at March 31, 2026, reflecting accretion from the TJIM acquisition and quarterly earnings.
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MBS Portfolio Liquidated to Fund Acquisition
The MBS portfolio was substantially liquidated in Q1 2026 to fund the TJIM acquisition, reducing MBS interest income to $0.3 million in Q2 2026 from $1.6 million in Q2 2025. The remaining portfolio had a fair value of $16.0 million at quarter-end.
Analysis · BMNM · Real Estate & Construction
The second quarter marks a pivotal shift for Bimini Capital, as net income improved sharply year over year, propelled by the transformative TJIM acquisition that contributed $1.7 million in advisory fees. To fund the deal, the MBS portfolio was largely liquidated, reorienting the revenue mix toward fee-based advisory services. Book value per share rose to $1.38, reflecting accretion from the transaction. While operating expenses increased due to acquisition-related costs, the underlying advisory business is scaling. The results validate the strategic pivot announced earlier this year, though a higher tax provision and reduced MBS income serve as notable offsets.
At the time of this filing, BMNM was trading at $2.65 on OTC in the Real Estate & Construction sector, with a market capitalization of approximately $26.7M. The 52-week trading range was $0.60 to $3.89. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.