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Earnings

Wilmington Capital Management Inc. Reports Fourth Quarter and Year 2025 Results

By The Northwire Desk — AI Analysis Mar 05, 2026 · 17:57 WCM · 2.3
WCM · Price

Executive Summary

  • Wilmington Capital Management reported Q4 and year‑end 2025 results showing a modest net income of $0.2 M ($0.01 per share) versus a net loss in the comparable 2024 period.
  • The company disclosed a change in senior leadership: Andrew Cockwell was appointed Chairman and CEO effective December 31, 2025, succeeding Chris Killi (CEO), Joe Killi (Chairman) and Marc Sardachuk (Director).
  • Financial position highlights include cash of $24.0 M, total assets of $36.4 M, and shareholders’ equity of $35.6 M as of year‑end 2025.

Key Details

  • Financial Performance (Three months ended Dec 31, 2025 vs. 2024)
  • Net income: $0.2 M ($0.01 per share) vs. net loss of $0.8 M ($0.06 loss per share) in 2024.
  • Net loss for the year: $0.5 M ($0.04 loss per share) vs. net income of $0.4 M ($0.03 per share) in 2024.
  • Revenue & Income
  • Management fee revenue: $0 K (2025) vs. $221 K (2024).
  • Distribution income: $221 K (2025) vs. $0 K (2024).
  • Interest and other income: $207 K (Q4) / $1,032 K (FY) vs. $474 K / $1,807 K in 2024.
  • Expenses
  • General & administrative expenses: $(742 K) Q4 / $(2,369 K) FY (2025) vs. $(1,955 K) / $(3,842 K) in 2024.
  • Amortization and finance costs remained minimal.
  • Fair Value Adjustments
  • Fair value adjustments to investments: $393 K (Q4) / $393 K FY (2025) vs. $0 / $164 K in 2024.
  • Gain from sale of investments: $947 K recorded in 2024, none reported for 2025.
  • Balance Sheet Highlights (Dec 31)
  • Cash: $24.0 M (down from $36.3 M).
  • Total assets: $36.4 M vs. $38.7 M (2024).
  • Liabilities: $0.8 M total, a significant reduction from $2.5 M in 2024.
  • Shareholders’ equity remained stable at $35.6 M.
  • Leadership Transition
  • Effective Dec 31, 2025: Chris Killi (CEO), Joe Killi (Chairman) and Marc Sardachuk (Director) stepped down.
  • Andrew Cockwell appointed Chairman and CEO to lead the next phase of the company’s strategy.
  • Outlook Commentary
  • Management reiterated its monetization plan initiated in Aug 2023, noting continued progress in unlocking value, distributing capital, and simplifying the business.

Notable Quotes

(No direct quotes were provided in the release.)

Read the original news release →

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