Builders Capital Mortgage Corp. Reports Third Quarter 2025 Results

Executive Summary

• Builders Capital reported Q3 2025 revenue of $1.85 M, a 47% increase year‑over‑year and the second‑highest quarterly revenue in its history.
• Mortgage portfolio grew to $54.2 M, up 22.4% YTD and 48.5% versus Q3 2024, driven by two bond tranches and a portfolio acquisition.
• The company maintained its $0.20 per share Class A distribution and paid an additional $0.40 per share to Class B shareholders post‑quarter, delivering an annualized 16% return on the original $10.00 issue price.

Key Details

• Revenue: $1,849,339 for Q3 2025 (vs. $1,257,830 in Q3 2024).
• Total Comprehensive Earnings: $918,519 (up from $820,864 YoY).
• Earnings per Share: $0.29 (vs. $0.26 in Q3 2024).
• Mortgage Portfolio Size: $54.2 M at quarter‑end, a 22.4% increase YTD and 48.5% YoY growth.
• Loan Loss Provisions: $325,000, unchanged on a percentage basis from Q3 2024.
• Portfolio Turnover Rate: Approximately 7 months (target ≤9 months).
• Weighted Average LTV Ratio: 78.05%, missing the internal target of 75%.
• Distributions:
• Class A: $0.20 per share for Q3 2025 (consistent with prior quarters).
• Class B: $0.40 per share paid post‑quarter, reflecting an annualized 16% return on the $10.00 issue price.
• Cash Dividends Declared: $806,499 total for the quarter.
• Balance Sheet Highlights (Quarter End):
• Net mortgages receivable: $52,478,512 (up from $35,428,965 YoY).
• Total assets: $53,117,992 (up from $37,054,105 YoY).
• Shareholders’ equity: $29,587,087 (slightly higher than $29,400,534 YoY).

Notable Quotes

• “Our strong revenue growth and expanding mortgage portfolio underscore the resilience of our business model and our commitment to delivering attractive, consistent returns to shareholders,” – Sandy Loutitt, CEO.