Orchid Island Capital, Inc. (ORC) Income Statement
ORC 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsORC revenue and net income
Where ORC's revenue goes
2025Each bar shows an amount and its share of revenue. ORC kept 88.6% of revenue as net income.
ORC profit margins
ORC growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +229.9% | — | +69.9% | +34.9% |
| Gross profit | +222.6% | — | +69.2% | +34.6% |
| Operating income | −41.9% | — | +137.0% | +34.3% |
| Net income | +322.3% | — | +137.0% | +64.9% |
| EPS (diluted) | — | −26.6% | — | −23.2% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
ORC quarterly EPS vs estimates
Orchid Island Capital beat the analyst EPS estimate in 6 of the last 8 quarters. Next report: October 22, 2026 (estimate $0.27).
ORC income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $179.5M | $54.4M | $0 | $0 | $0 | $12.7M | $34.6M | $0 | $13.2M | $11.1M |
| Cost of revenue | $4.0M | $3.4M | $11.2M | $237.7M | $49.5M | $30.3M | $89.2M | $76.6M | $47.5M | $19.8M |
| Gross profit | $175.5M | $54.4M | −$20.7M | −$475.5M | −$99.0M | $12.7M | $34.6M | −$32.4M | $13.2M | $11.1M |
| Research & development | — | — | $0 | $24 | $0 | $0 | $0 | $0 | $0 | $0 |
| Sales, general & admin | $16.5M | $3.3M | $3.4M | $3.0M | $2.9M | $1.6M | $1.4M | $1.7M | $1.9M | $2.1M |
| Total operating expenses | $16.5M | $54.4M | −$20.7M | −$1.1M | $1.4M | $590,000 | $378,000 | $78,000 | $1.1M | $871,000 |
| Operating income | $159.0M | $273.9M | $162.7M | −$196.7M | −$64.8M | $2.1M | $24.3M | $26.0M | $43.7M | $17.6M |
| Interest income | $414.0M | $241.6M | $159.9M | $144.6M | $134.7M | $116.0M | $142.3M | $154.6M | $146.0M | $87.1M |
| Interest expense | $305.7M | $236.3M | $201.9M | $61.7M | $7.1M | $25.1M | $83.7M | $70.4M | $41.7M | $15.6M |
| Income before taxes | $159.0M | $37.7M | −$39.2M | −$258.5M | −$64.8M | $2.1M | $24.3M | −$44.4M | $2.0M | $2.0M |
| Income taxes | — | — | −$39.2M | −$258.5M | −$71.8M | −$22.9M | −$59.4M | $0 | $0 | $0 |
| Net income | $159.0M | $37.7M | −$39.2M | −$258.5M | −$64.8M | $2.1M | $24.3M | −$44.4M | $2.0M | $2.0M |
| EBITDA | $464.8M | $273.9M | $162.7M | −$196.7M | −$64.8M | $2.1M | $24.3M | $26.0M | $43.7M | $17.6M |
| EPS (diluted) | $0.70 | −$0.21 | −$0.99 | $1.77 | $4.73 | −$2.73 | $4.24 | $6.90 | $5.38 | $13.02 |
| Gross margin | 97.8% | 100.0% | — | — | — | 100.0% | 100.0% | — | 100.0% | 100.0% |
| Operating margin | 88.6% | 503.5% | — | — | — | 16.8% | 70.0% | — | 331.6% | 158.8% |
| Net margin | 88.6% | 69.2% | — | — | — | 16.8% | 70.0% | — | 15.2% | 17.9% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $164.2M | $157.9M | $132.2M | $77.5M | $0 | $21.3M | $9.9M | $21.6M | $0 | $23.5M | $31.2M | $0 |
| Cost of revenue | $104.2M | $4.5M | $93.7M | $3.6M | $3.2M | $3.0M | $2.7M | $2.7M | $2.4M | $2.3M | $801,000 | $750,000 |
| Gross profit | $60.0M | $153.4M | $38.5M | $77.5M | −$28.6M | $21.3M | $9.9M | $21.6M | −$599,000 | $23.5M | $30.4M | −$76.2M |
| Sales, general & admin | $1.1M | $312,000 | $5.8M | $651,000 | $825,000 | $251,000 | $947,000 | $967,000 | $893,000 | $422,000 | $3.3M | $3.9M |
| Total operating expenses | $1.1M | $72.6M | $5.8M | $77.5M | −$28.6M | $21.3M | $9.9M | $21.6M | −$599,000 | $23.5M | $3.3M | $3.9M |
| Operating income | $58.8M | $80.8M | $32.7M | $153.6M | $35.6M | $78.5M | $69.4M | $84.6M | $48.8M | $71.1M | $27.1M | −$80.1M |
| Interest income | $164.2M | $157.8M | $132.2M | $108.4M | $92.3M | $81.1M | $72.0M | $67.6M | $53.1M | $48.9M | $49.5M | $50.1M |
| Interest expense | $104.2M | $100.8M | $93.7M | $81.5M | $69.1M | $61.4M | $63.9M | $67.3M | $53.8M | $51.4M | $52.3M | $58.7M |
| Income before taxes | $89.2M | −$20.0M | $103.4M | $72.1M | −$33.6M | $17.1M | $5.5M | $17.3M | −$5.0M | $19.8M | $27.1M | −$80.1M |
| Income taxes | — | — | — | — | — | — | — | $4.3M | −$5.0M | $19.8M | $123.6M | −$138.8M |
| Net income | $89.2M | −$20.0M | $103.4M | $72.1M | −$33.6M | $17.1M | $5.5M | $17.3M | −$5.0M | $19.8M | $27.1M | −$80.1M |
| EBITDA | $193.4M | $80.8M | $197.1M | $153.6M | $35.6M | $78.5M | $69.4M | $84.6M | $48.8M | $71.1M | $79.5M | −$21.4M |
| EPS (diluted) | $0.26 | −$0.11 | $0.20 | $0.16 | $0.16 | $0.18 | $0.05 | −$0.05 | −$0.09 | −$0.12 | −$0.13 | −$0.28 |
| Gross margin | 36.5% | 97.2% | 29.1% | 100.0% | — | 100.0% | 100.0% | 100.0% | — | 100.0% | 97.4% | — |
| Operating margin | 35.8% | 51.2% | 24.7% | 198.1% | — | 367.7% | 700.8% | 392.0% | — | 302.5% | 87.0% | — |
| Net margin | 54.3% | −12.6% | 78.2% | 93.0% | — | 80.2% | 56.0% | 80.2% | — | 84.1% | 87.0% | — |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in ORC's financial statements (latest annual report filed February 20, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
ORC financial results
In fiscal year 2025 (ended December 31, 2025), Orchid Island Capital reported revenue of $179.5 million, up 229.9% from the year before. It had net income of $159.0 million (up 322.3%), a net profit margin of 88.6%. Diluted earnings per share came to $0.70. Over five years revenue grew at an average rate of 69.9% a year.
See the ORC stock overview for the latest quote and news, or the ORC chart for price history and technical indicators.
ORC income statement FAQ
What is Orchid Island Capital's annual revenue?
Orchid Island Capital reported total revenue of $179.5 million for fiscal year 2025, which ended on December 31, 2025. That was up 229.9% from $54.4 million the previous year.
Is Orchid Island Capital profitable?
Yes. Orchid Island Capital reported net income of $159.0 million in fiscal 2025, a net profit margin of 88.6%; its operating margin was 88.6%.
What is Orchid Island Capital's gross margin?
Orchid Island Capital's gross margin was 97.8% in fiscal 2025: for every $100 of revenue, Orchid Island Capital kept $98 after the direct cost of its products and services.
How fast is Orchid Island Capital growing?
Revenue grew 69.9% a year on average over the last five fiscal years, from $12.7 million to $179.5 million.
What are Orchid Island Capital's earnings per share?
Orchid Island Capital earned $0.70 per diluted share in fiscal 2025, compared with $-0.21 a year earlier.
When will Orchid Island Capital report its next earnings?
Orchid Island Capital is expected to report results for the quarter ending September 30, 2026 on October 22, 2026 after the market closes.
When does Orchid Island Capital's fiscal year end?
Orchid Island Capital's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 20, 2026.