Angel Oak Mortgage, Inc. remains a leading non-QM platform with strong collateral performance and securitization execution. Their fourth-quarter results showed an increase in interest income of 30% and net interest income of 11% year over year, reaching $143.7 million and $41.1 million, respectively. Operating expenses decreased by 15.4% compared to 2024, supporting growth in valuations across the portfolio.

In 2025, Angel Oak Mortgage, Inc. reported GAAP net income of $11.3 million, a significant improvement from a net loss in 2024. Distributable earnings in Q4 2025 were $7.3 million. The company expects continued growth in net interest income driven by accretive loans purchased throughout the year and ongoing securitization activity. The portfolio includes loans with a weighted average coupon rate of 7.79%.

The securitization market remains constructive, with four securitizations completed in 2025 and plans to continue leveraging this strength. Operating expenses for Q4 were $5.2 million, with full-year expenses at $16.4 million, a 15.5% decrease from 2024. The company’s GAAP book value per share increased to $10.74 as of December 31, 2025, reflecting a 1.3% growth. Economic book value stood at $12.70 per share.

Angel Oak Mortgage, Inc. remains optimistic about its future performance, emphasizing a focus on diligent trend selection, consistent securitization execution, and value-driven decision-making. The team is confident in their model’s strength in a steepening yield environment and looks forward to building long-term value for shareholders. They expect the market to remain solid with some pockets of volatility in 2026.

Read more at Yahoo Finance: Angel Oak Mortgage (AOMR) Earnings Transcript