Wilmington Capital loses $262,000 in Q2

Executive Summary

• Wilmington Capital Management Inc. reported its second quarter and year-to-date 2025 financial results, showing a significant increase in net losses compared to the same periods in 2024.
• The company holds approximately $34 million in cash and retains an 18% ownership interest in Bay Moorings Marina Holdings LP, which is redeveloping land in Ontario into residential sites and condos.
• Management continues to review alternatives to provide liquidity to shareholders and maximize the value of its public platform.

Key Details

• Q2 2025 Financials (Three months ended June 30, 2025):
  • Net Loss: $300,000
  • Loss Per Share: $0.02
  • Comparison: Net loss of $10,000 ($0.01 per share) in Q2 2024.
• Year-to-Date 2025 Financials (Six months ended June 30, 2025):
  • Net Loss: $400,000
  • Loss Per Share: $0.03
  • Comparison: Net Income of $1.2 million ($0.09 per share) for the same period in 2024.
• Cash Position: Approximately $34 million in cash on hand as of June 30, 2025.
• Investment Holdings:
  • 18% ownership interest in Bay Moorings Marina Holdings LP.
  • Bay Moorings owns land in Ontario being redeveloped into 50 residential sites and a condominium with approximately 90 units.
• Strategic Outlook:
  • Since August 2023, the corporation has been monetizing investments to unlock embedded value, simplify the business, and return capital to shareholders.
  • The company is reviewing alternatives aimed at providing liquidity to shareholders and maximizing the value of its public platform.

Notable Quotes

• "Beginning in August, 2023, the corporation took steps to monetize a significant number of its investments in order to unlock the embedded value that had been substantially realized, simplify its business and return capital to its shareholders."
• "The corporation continues to review a range of alternatives aimed at providing liquidity to shareholders and maximizing the value of its public platform."