$CHMI-PA

Cherry Hill Mortgage Investment Corp

CIK:0001571776|SEC Filings

Consolidated Statements of Income (Loss) - USD ($)
$ in Thousands

3 Months Ended

6 Months Ended

Jun. 30, 2026

Jun. 30, 2025

Jun. 30, 2026

Jun. 30, 2025

Income

Interest income

$ 14,740

$ 14,813

$ 30,590

$ 29,614

Interest expense

10,004

12,172

21,398

24,807

Net interest income

4,736

2,641

9,192

4,807

Servicing fee income

9,692

10,933

19,911

21,906

Servicing costs

2,319

1,952

4,608

4,497

Net servicing income

7,373

8,981

15,303

17,409

Other income (loss)

Realized loss on RMBS, net

(1,047)

(2,053)

(1,047)

(6,045)

Realized gain on derivatives, net

12,139

14,838

12,069

19,472

Realized gain on acquired assets, net

Unrealized gain (loss) on RMBS, measured at fair value through earnings, net

(860)

3,508

(13,296)

18,288

Unrealized loss on derivatives, net

(9,299)

(19,147)

(3,178)

(41,888)

Unrealized loss on investments in Servicing Related Assets

(2,351)

(2,731)

(3,712)

(9,056)

Credit loss and impairment on other assets

(2,815)

Total other loss

(4,231)

(5,585)

(11,977)

(19,229)

Total Income

7,878

6,037

12,518

2,987

Expenses

General and administrative expense

2,128

1,947

3,821

4,006

Compensation and benefits

1,889

1,408

3,468

3,118

Total Expenses

4,017

3,355

7,289

7,124

Income (Loss) Before Income Taxes

3,861

2,682

5,229

(4,137)

Provision for corporate business taxes

^[1]

1,121

1,006

1,294

Net Income (Loss)

3,794

1,561

4,223

(5,431)

Net (income) loss allocated to noncontrolling interests in Operating Partnership

(55)

(34)

(61)

Dividends on preferred stock

(2,403)

(2,462)

(4,794)

(4,916)

Net Income (Loss) Applicable to Common Stockholders

$ 1,336

$ (935)

$ (632)

$ (10,248)

Net Income (Loss) Per Share of Common Stock

Basic (in dollars per share)

$ 0.04

$ (0.03)

$ (0.02)

$ (0.32)

Diluted (in dollars per share)

$ 0.04

$ (0.03)

$ (0.02)

$ (0.32)

Weighted Average Number of Shares of Common Stock Outstanding

Basic (in shares)

36,605,698

33,199,712

36,599,393

32,449,353

Diluted (in shares)

36,739,399

33,199,712

36,599,393

32,449,353

[1]	The provision for income taxes is recorded at the TRS level.

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended				6 Months Ended		12 Months Ended
	Jun. 30, 2026	Mar. 31, 2026	Jun. 30, 2025	Mar. 31, 2025	Jun. 30, 2026	Jun. 30, 2025	Dec. 31, 2025
Cash Flows From Operating Activities
Net income (loss)	$ 3,794	$ 429	$ 1,561	$ (6,992)	$ 4,223	$ (5,431)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Realized loss on RMBS, net	1,047		2,053		1,047	6,045
Unrealized loss on investments in Servicing Related Assets	2,351		2,731		3,712	9,056
Realized loss on acquired assets, net	(2)		0		(2)	0
Realized gain on derivatives, net	(12,139)		(14,838)		(12,069)	(19,472)
Unrealized (gain) loss on RMBS, measured at fair value through earnings, net	860		(3,508)		13,296	(18,288)
Unrealized loss on derivatives, net	9,299		19,147		3,178	41,888
Credit loss and impairment on other assets	2,815		0		2,815	0
Accretion of premiums on RMBS					(1,676)	(1,576)
Amortization of deferred financing costs					207	156
LTIP-OP Unit awards					63	144
Changes in operating assets and liabilities:
Decrease in receivables and other assets					4,314	775
Decrease in accrued expenses and other liabilities					(1,854)	(164)
Net cash provided by operating activities					17,254	13,133
Cash Flows From Investing Activities
Purchase of RMBS					(45,125)	(154,377)
Principal paydown of RMBS					68,477	45,415
Proceeds from sale of RMBS					96,090	99,844
Acquisition of MSRs					15	0
Proceeds from settlement of derivatives					23,491	9,556
Net cash provided by investing activities					142,948	438
Cash Flows From Financing Activities
Borrowings under repurchase agreements					5,840,236	5,392,822
Repayments of repurchase agreements					(5,968,698)	(5,397,785)
Proceeds from derivative financing					0	(6,997)
Principal paydown of bank loans					(4,750)	(2,000)
Dividends paid					(12,235)	(14,634)
LTIP-OP Units distributions paid					(106)	(180)
Redemption of OP units					0	(102)
Issuance of common stock, net of offering costs					378	12,541
Net cash used in financing activities					(145,175)	(16,335)
Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash					15,027	(2,764)
Cash, Cash Equivalents and Restricted Cash, Beginning of Period		$ 62,469		$ 70,759	62,469	70,759	$ 70,759
Cash, Cash Equivalents and Restricted Cash, End of Period	77,496		67,995		77,496	67,995	62,469
Reconciliation of cash and cash equivalents and restricted cash
Cash and cash equivalents	52,062		58,042		52,062	58,042	54,946
Restricted cash	25,434		9,953		25,434	9,953	7,523
Total cash and cash equivalents and restricted cash	77,496		$ 67,995		77,496	67,995	$ 62,469
Supplemental Disclosure of Cash Flow Information
Cash paid during the period for interest expense					27,275	18,008
Cash paid during the period for income taxes	$ 27				29	36
Supplemental Schedule of Non-Cash Investing and Financing Activities
Dividends declared but not paid					$ 5,910	$ 7,643

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Assets
RMBS, at fair value (including pledged assets of $1,054,018 and $1,189,714, respectively)	$ 1,079,802	$ 1,213,851
Investments in Servicing Related Assets, at fair value (including pledged assets of $211,105 and $214,831, respectively)	211,105	214,831
Cash and cash equivalents	52,062	54,946
Restricted cash	25,434	7,523
Derivative assets	1,622	14,757
Receivables and other assets	27,519	34,648
Total Assets	1,397,544	1,540,556
Liabilities
Repurchase agreements	1,008,738	1,137,200
Derivative liabilities	3,739	2,275
Notes payable	140,648	145,191
Dividends payable	5,910	5,919
Accrued expenses and other liabilities	9,585	11,439
Total Liabilities	1,168,620	1,302,024
Stockholders' Equity
Common stock, $0.01 par value per share, 500,000,000 shares authorized and 36,947,394 shares issued and outstanding as of June 30, 2026 and 500,000,000 shares authorized and 36,739,538 shares issued and outstanding as of December 31, 2025	378	373
Additional paid-in capital	396,889	396,516
Accumulated deficit	(278,445)	(270,381)
Accumulated other comprehensive income	1,757	3,669
Total Cherry Hill Mortgage Investment Corporation Stockholders' Equity	226,443	236,041
Non-controlling interests in Operating Partnership	2,481	2,491
Total Stockholders' Equity	228,924	238,532
Total Liabilities and Stockholders' Equity	1,397,544	1,540,556
Series A Preferred Stock [Member]
Stockholders' Equity
Preferred stock	67,311	67,311
Series B Preferred Stock [Member]
Stockholders' Equity
Preferred stock	$ 38,553	$ 38,553