Manhattan Bridge Capital reports decreased revenues and net income for Q2 2025, primarily due to lower interest income.
Quiver AI Summary
Manhattan Bridge Capital, Inc. reported a total revenue of approximately $2,355,000 for the three months ending June 30, 2025, marking a 3.6% decline compared to the same period in 2024. This decrease is mainly due to reduced interest income from a decline in loans receivable, although there was a slight increase in origination fees. Net income remained relatively stable at about $1,413,000, or $0.12 per share, similar to the prior year. For the six months ended June 30, 2025, total revenues dropped to approximately $4,629,000, down 7.7% year-over-year, with net income also declining to around $2,786,000 from $2,885,000 in 2024. CEO Assaf Ran highlighted challenges in the real estate market due to persistent interest rates impacting loan closings and terms. As of June 30, 2025, the company's total shareholders' equity was approximately $43.4 million.
Potential Positives
- Net income for the second quarter of 2025 was stable at approximately $1.413 million, indicating the company's ability to maintain profitability despite a decrease in revenue.
- The company reported an increase in origination fees from $411,000 to $456,000 year-over-year, suggesting a potential growth area in their loan business.
- Total shareholders' equity increased to approximately $43.4 million as of June 30, 2025, reflecting a stronger financial position compared to the previous year.
Potential Negatives
- There was a significant decline in total revenues for both the three months and six months ended June 30, 2025, attributed largely to lower interest income due to a reduction in loans receivable.
- Net income shows only a slight increase for the three months ended June 30, 2025 compared to the prior year, but it decreased for the six months ended June 30, 2025, indicating potential challenges in profitability.
- Concerns regarding the impact of interest rates on loan closings and market dynamics could indicate a challenging operational environment ahead.
FAQ
What is the recent revenue trend for Manhattan Bridge Capital?
For Q2 2025, Manhattan Bridge Capital reported revenues of approximately $2,355,000, down 3.6% from $2,443,000 in Q2 2024.
How did interest income impact Manhattan Bridge Capital's financial results?
Interest income decreased due to a reduction in loans receivable, leading to lower overall revenue for the company.
What was Manhattan Bridge Capital's net income for the recent quarter?
Net income for Q2 2025 was approximately $1,413,000, consistent with $1,409,000 in the same quarter of 2024.
How does Manhattan Bridge Capital secure its loans?
The loans are secured by real estate collateral and personal guarantees from the principals of the borrowers.
What challenges is Manhattan Bridge Capital currently facing?
Interest rates are affecting loan closings and leading to longer loan terms, impacting the company's performance in the real estate market.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
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$LOAN Hedge Fund Activity
We have seen 17 institutional investors add shares of $LOAN stock to their portfolio, and 25 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- MERCER GLOBAL ADVISORS INC /ADV added 209,645 shares (+inf%) to their portfolio in Q1 2025, for an estimated $1,239,001
- MONETA GROUP INVESTMENT ADVISORS LLC added 90,296 shares (+324.9%) to their portfolio in Q1 2025, for an estimated $533,649
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- OLIO FINANCIAL PLANNING added 48,230 shares (+196.3%) to their portfolio in Q2 2025, for an estimated $263,818
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- CARY STREET PARTNERS FINANCIAL LLC removed 38,427 shares (-12.8%) from their portfolio in Q1 2025, for an estimated $227,103
- WEALTHCARE ADVISORY PARTNERS LLC removed 37,158 shares (-100.0%) from their portfolio in Q1 2025, for an estimated $219,603
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
GREAT NECK, N.Y., July 22, 2025 (GLOBE NEWSWIRE) -- Manhattan Bridge Capital, Inc. (Nasdaq:
LOAN
) (the “Company”) announced today that its total revenues for the three months ended June 30, 2025 were approximately $2,355,000, compared to approximately $2,443,000 for the three months ended June 30, 2024, a decrease of $88,000, or 3.6%. The decrease in revenue was primarily attributable to lower interest income, resulting from a reduction in loans receivable, period-over-period, partially offset by an increase of origination fees. For the three months ended June 30, 2025 and 2024, approximately $1,899,000 and $2,033,000, respectively, of the Company’s revenues were attributable to interest income on secured commercial loans that the Company offered to real estate investors, and approximately $456,000 and $411,000, respectively, of its revenues were attributable to origination fees on such loans. The loans are principally secured by collateral consisting of real estate and accompanied by personal guarantees from the principals of the borrowers.
Net income for the three months ended June 30, 2025 was approximately $1,413,000, or $0.12 per basic and diluted share (based on approximately 11.44 million weighted-average outstanding common shares), as compared to approximately $1,409,000, or $0.12 per basic and diluted share (based on approximately 11.44 million weighted-average outstanding common shares), for the three months ended June 30, 2024, an increase of $4,000.
Total revenues for the six months ended June 30, 2025 were approximately $4,629,000, compared to approximately $5,016,000 for the six months ended June 30, 2024, a decrease of $387,000, or 7.7%. The decrease in revenue was primarily attributable to lower interest income, resulting from a reduction in loans receivable, period-over-period. For the six months ended June 30, 2025 and 2024, revenues of approximately $3,733,000 and $4,175,000, respectively, were attributable to interest income on secured commercial loans that the Company offered to real estate investors, and approximately $896,000 and $841,000, respectively, were attributable to origination fees on such loans. The loans are principally secured by collateral consisting of real estate and accompanied by personal guarantees from the principals of the borrowers.
Net income for the six months ended June 30, 2025 was approximately $2,786,000, or $0.24 per basic and diluted share (based on approximately 11.44 million weighted-average outstanding common shares), as compared to approximately $2,885,000, or $0.25 per basic and diluted share (based on approximately 11.44 million weighted-average outstanding common shares), for the six months ended June 30, 2024, a decrease of $99,000, or 3.4%. This decrease is primarily attributable to the decrease in interest income from loans, partially offset by a decrease in interest expense.
As of June 30, 2025, total shareholders' equity was approximately $43,427,000.
Assaf Ran, Chairman of the Board and Chief Executive Officer of the Company, stated, “Interest rates are still weighing on the real estate markets; therefore, we’re experiencing a slower pace of loan closings versus our typical pace, and longer loan terms, reflected by a higher amount of extended loans over the initial ultra short term of one year. Yet, we managed to deliver another quarter with net earnings of $0.12.”
About Manhattan Bridge Capital, Inc.
Manhattan Bridge Capital, Inc. offers short-term secured, non–banking loans (sometimes referred to as ‘‘hard money’’ loans) to real estate investors to fund their acquisition, renovation, rehabilitation or improvement of properties located in the New York metropolitan area, including New Jersey and Connecticut, and in Florida. We operate the website:
https://www.manhattanbridgecapital.com
.
Forward Looking Statements
This press release and the statements of the Company’s representatives related thereto contain or may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements that are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the generality of the foregoing, words such as “plan,” “project,” “potential,” “seek,” “may,” “will,” “expect,” “believe,” “anticipate,” “intend,” “could,” “estimate,” or “continue” are intended to identify forward-looking statements. For example, when the Company discusses the impact of interest rates on the real estate markets, including on pace of closings and terms of loans, it is using forward looking statements. Readers are cautioned that certain important factors may affect the Company’s actual results and could cause such results to differ materially from any forward-looking statements that may be made in this news release. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties. Actual results may differ materially from those projected, expressed or implied in the forward-looking statements as a result of various factors, including but not limited to the following: (i) our loan origination activities, revenues and profits are limited by available funds; (ii) we operate in a highly competitive market and competition may limit our ability to originate loans with favorable interest rates; (iii) our Chief Executive Officer is critical to our business and our future success may depend on our ability to retain him; (iv) if we overestimate the yields on our loans or incorrectly value the collateral securing the loan, we may experience losses; (v) we may be subject to “lender liability” claims; (vi) our due diligence may not uncover all of a borrower’s liabilities or other risks to its business; (vii) borrower concentration could lead to significant losses; (viii) we may choose to make distributions in our own stock, in which case you may be required to pay income taxes in excess of the cash dividends you receive; (ix) an increase in interest rates may impact our profitability; (x) we may be unsuccessful in our efforts to extend or replace our existing credit line; and (xi) we may be unsuccessful in our efforts to refinance our 6% senior secured notes, due April 22, 2026. The risk factors contained in our Annual Report on Form 10-K for the fiscal year ended December 31, 2024 filed with the Securities and Exchange Commission identify important factors that could cause such differences. These forward-looking statements speak only as of the date of this press release, and we caution potential investors not to place undue reliance on such statements. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.
MANHATTAN BRIDGE CAPITAL, INC. AND SUBSIDIARY CONSOLIDATED BALANCE SHEETS | |||||||
Assets | June 30, 2025 (unaudited) | December 31, 2024 (audited) | |||||
Loans receivable, net of deferred origination and other fees | $ | 65,217,737 | $ | 65,405,731 | |||
Interest and other fees receivable on loans | 1,877,218 | 1,521,033 | |||||
Cash | 208,767 | 178,012 | |||||
Cash – restricted | 875 | 23,750 | |||||
Other assets | 153,112 | 62,080 | |||||
Right-of-use asset – operating lease, net | 127,633 | 154,039 | |||||
Deferred financing costs, net | 9,240 | 16,171 | |||||
Total assets | $ | 67,594,582 | $ | 67,360,816 | |||
Liabilities and Stockholders’ Equity
Liabilities: | |||||||
Line of credit | $ | 16,523,205 | $ | 16,427,874 | |||
Senior secured notes (net of deferred financing costs of $59,443 and $96,985, respectively) | 5,940,557 | 5,903,015 | |||||
Accounts payable and accrued expenses | 198,622 | 232,236 | |||||
Operating lease liability | 139,882 | 167,119 | |||||
Loan holdback | 50,000 | 50,000 | |||||
Dividends payable | 1,315,445 | 1,315,445 | |||||
Total liabilities | 24,167,711 | 24,095,689 | |||||
Commitments and contingencies | |||||||
Stockholders’ equity: | |||||||
Preferred shares - $.01 par value; 5,000,000 shares authorized; none issued and outstanding | --- | --- | |||||
Common shares - $.001 par value; 25,000,000 shares authorized; 11,757,058 issued; 11,438,651 outstanding | 11,757 | 11,757 | |||||
Additional paid-in capital | 45,568,473 | 45,561,941 | |||||
Less: Treasury stock, at cost – 318,407 shares | (1,070,406 | ) | (1,070,406 | ) | |||
Accumulated deficit | (1,082,953 | ) | (1,238,165 | ) | |||
Total stockholders’ equity | 43,426,871 | 43,265,127 | |||||
Total liabilities and stockholders’ equity | $ | 67,594,582 | $ | 67,360,816 | |||
MANHATTAN BRIDGE CAPITAL, INC. AND SUBSIDIARY CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) | ||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||
2025 | 2024 | 2025 | 2024 | |||||||||
Revenue: | ||||||||||||
Interest income from loans | $ | 1,899,403 | $ | 2,032,687 | $ | 3,733,317 | $ | 4,175,174 | ||||
Origination fees | 455,833 | 410,528 | 895,632 | 841,119 | ||||||||
Total revenue | 2,355,236 | 2,443,215 | 4,628,949 | 5,016,293 | ||||||||
Operating costs and expenses: | ||||||||||||
Interest and amortization of deferred financing costs | 506,250 | 603,230 | 957,615 | 1,293,819 | ||||||||
Referral fees | 1,523 | 500 | 1,667 | 1,000 | ||||||||
General and administrative expenses | 437,785 | 434,282 | 891,355 | 844,560 | ||||||||
Total operating costs and expenses | 945,558 | 1,038,012 | 1,850,637 | 2,139,379 | ||||||||
Income from operations | 1,409,678 | 1,405,203 | 2,778,312 | 2,876,914 | ||||||||
Other income | 4,500 | 4,500 | 9,000 | 9,000 | ||||||||
Income before income tax expense | 1,414,178 | 1,409,703 | 2,787,312 | 2,885,914 | ||||||||
Income tax expense | (1,210 | ) | (650 | ) | (1,210 | ) | (650 | ) | ||||
Net income | $ | 1,412,968 | $ | 1,409,053 | $ | 2,786,102 | $ | 2,885,264 | ||||
Basic and diluted net income per common share outstanding: | ||||||||||||
--Basic | $ | 0.12 | $ | 0.12 | $ | 0.24 | $ | 0.25 | ||||
--Diluted | $ | 0.12 | $ | 0.12 | $ | 0.24 | $ | 0.25 | ||||
Weighted average number of common shares outstanding: | ||||||||||||
--Basic | 11,438,651 | 11,438,651 | 11,438,651 | 11,438,662 | ||||||||
--Diluted | 11,438,651 | 11,438,651 | 11,438,651 | 11,438,662 | ||||||||
MANHATTAN BRIDGE CAPITAL, INC. AND SUBSIDIARY
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY
(unaudited)
FOR THE THREE MONTHS ENDED JUNE 30, 2025
Common Shares | Additional Paid in Capital | Treasury Stock | Accumulated Deficit | Totals | |||||
Shares | Amount | Shares | Cost | ||||||
Balance, April 1, 2025 | 11,757,058 | $ 11,757 | $ 45,565,207 | 318,407 | $ (1,070,406 ) | $ (1,180,476 ) | $ 43,326,082 | ||
Non-cash compensation | 3,266 | 3,266 | |||||||
Dividends declared and payable | (1,315,445) | (1,315,445) | |||||||
Net income | . | . | . | . | . | 1,412,968 | 1,412,968 | ||
Balance, June 30, 2025 | 11,757,058 | $ 11,757 | $ 45,568,473 | 318,407 | $ (1,070,406 ) | $ (1,082,953 ) | $ 43,426,871 | ||
FOR THE THREE MONTHS ENDED JUNE 30, 2024
Common Shares | Additional Paid in Capital | Treasury Stock | Accumulated Deficit | Totals | |||||
Shares | Amount | Shares | Cost | ||||||
Balance, April 1, 2024 | 11,757,058 | $ 11,757 | $ 45,552,142 | 318,407 | $ (1,070,406 ) | $ (1,406,555 ) | $ 43,086,938 | ||
Non-cash compensation | 3,266 | 3,266 | |||||||
Dividends declared and payable | (1,315,445) | (1,315,445) | |||||||
Net income | . | . | . | . | . | 1,409,053 | 1,409,053 | ||
Balance, June 30, 2024 | 11,757,058 | $ 11,757 | $ 45,555,408 | 318,407 | $ (1,070,406 ) | $ (1,312,947 ) | $ 43,183,812 | ||
FOR THE SIX MONTHS ENDED JUNE 30, 2025
Common Shares | Additional Paid in Capital | Treasury Stock | Accumulated Deficit | Totals | |||||
Shares | Amount | Shares | Cost | ||||||
Balance, January 1, 2025 | 11,757,058 | $ 11,757 | $ 45,561,941 | 318,407 | $ (1,070,406 ) | $ (1,238,165 ) | $ 43,265,127 | ||
Non-cash compensation | 6,532 | 6,532 | |||||||
Dividends paid | (1,315,445) | (1,315,445) | |||||||
Dividends declared and payable | (1,315,445) | (1,315,445) | |||||||
Net income | . | . | . | . | . | 2,786,102 | 2,786,102 | ||
Balance, June 30, 2025 | 11,757,058 | $ 11,757 | $ 45,568,473 | 318,407 | $ (1,070,406 ) | $ (1,082,953 ) | $ 43,426,871 | ||
FOR THE SIX MONTHS ENDED JUNE 30, 2024
Common Shares | Additional Paid in Capital | Treasury Stock | Accumulated Deficit | Totals | ||||
Shares | Amount | Shares | Cost | |||||
Balance, January 1, 2024 | 11,757,058 | $ 11,757 | $ 45,548,876 | 316,407 | $ (1,060,606 ) | $ (1,567,321 ) | $ 42,932,706 | |
Purchase of treasury shares | 2,000 | (9,800) | (9,800) | |||||
Non-cash compensation | 6,532 | 6,532 | ||||||
Dividends paid | (1,315,445) | (1,315,445) | ||||||
Dividends declared and payable | (1,315,445) | (1,315,445) | ||||||
Net income | . | . | . | . | . | 2,885,264 | 2,885,264 | |
Balance, June 30, 2024 | 11,757,058 | $ 11,757 | $ 45,555,408 | 318,407 | $ (1,070,406 ) | $ (1,312,947 ) | $ 43,183,812 | |
MANHATTAN BRIDGE CAPITAL, INC. AND SUBSIDIARY CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) | ||||||||
Six Months Ended June 30, | ||||||||
2025 | 2024 | |||||||
Cash flows from operating activities: | ||||||||
Net income | $ | 2,786,102 | $ | 2,885,264 | ||||
Adjustments to reconcile net income to net cash provided by operating activities - | ||||||||
Amortization of deferred financing costs | 44,473 | 44,191 | ||||||
Adjustment to right-of-use asset - operating lease and liability | (831 | ) | 190 | |||||
Depreciation | 2,790 | 2,209 | ||||||
Non-cash compensation expense | 6,532 | 6,532 | ||||||
Changes in operating assets and liabilities: | ||||||||
Interest and other fees receivable on loans | (369,307 | ) | (315,399 | ) | ||||
Other assets | (93,403 | ) | (71,703 | ) | ||||
Accounts payable and accrued expenses | (33,614 | ) | (53,044 | ) | ||||
Deferred origination and other fees | 64,338 | (72,992 | ) | |||||
Net cash provided by operating activities | 2,407,080 | 2,425,248 | ||||||
Cash flows from investing activities: | ||||||||
Issuance of short-term loans | (23,482,540 | ) | (19,455,000 | ) | ||||
Collections received from loans | 23,619,317 | 25,866,190 | ||||||
Purchase of fixed assets | (418 | ) | (1,191 | ) | ||||
Net cash provided by investing activities | 136,359 | 6,409,999 | ||||||
Cash flows from financing activities: | ||||||||
Repayment of line of credit | (26,365,153 | ) | (27,543,007 | ) | ||||
Proceeds from line of credit | 26,460,484 | 19,736,179 | ||||||
Dividends paid | (2,630,890 | ) | (2,602,518 | ) | ||||
Purchase of treasury shares | --- | (9,800 | ) | |||||
Deferred financing costs incurred | --- | (2,167 | ) | |||||
Net cash used in financing activities | (2,535,559 | ) | (10,421,313 | ) | ||||
Net increase (decrease) in cash | 7,880 | (1,586,066 | ) | |||||
Cash and restricted cash, beginning of period (1) | 201,762 | 1,691,995 | ||||||
Cash and restricted cash, end of period (2) | $ | 209,642 | $ | 105,929 | ||||
Supplemental Disclosure of Cash Flow Information: | ||||||||
Cash paid during the period for taxes | $ | 1,210 | $ | 650 | ||||
Cash paid during the period for interest | $ | 903,251 | $ | 1,297,587 | ||||
Cash paid during the period for operating leases | $ | 31,982 | $ | 32,208 | ||||
Supplemental Schedule of Noncash Financing Activities: | ||||||||
Dividend declared and payable | $ | 1,315,445 | $ | 1,315,445 | ||||
Supplemental Schedule of Noncash Operating and Investing Activities: | ||||||||
Reduction in interest receivable in connection with the increase in loans receivable | $ | 13,122 | $ | 222,520 | ||||
(1)
At December 31, 2024 and 2023, cash and restricted cash included $23,750 and $1,587,773, respectively, of restricted cash.
(2)
At June 30, 2025, cash and restricted cash included $875 of restricted cash.
SOURCE: Manhattan Bridge Capital, Inc.
This article was originally published on Quiver News, read the full story.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
