Manhattan Bridge Capital (Nasdaq: LOAN) reported net income of $1,274,000 or $0.11 per share for Q1 2026, down 7.2% from Q1 2025. Total revenue was $2,068,000, down 9.1% year-over-year, driven by lower interest income and origination fees.
As of March 31, 2026, stockholders’ equity was approximately $43,106,000. The company repurchased 9,300 shares under a 100,000-share buyback program, spending about $42,000.
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Positive
Stockholders’ equity of $43,106,000
Share repurchase program active; 9,300 shares bought for $42,000
Reduced interest expense due to lower borrowings and lower SOFR
Negative
Total revenue down 9.1% year-over-year to $2,068,000
Net income declined 7.2% year-over-year to $1,274,000
Interest income on loans down to $1,699,000 from $1,834,000
Origination fees decreased to $368,000 from $440,000
Q1 2026 net income
$1,274,000
Three months ended March 31, 2026
Q1 2026 EPS
$0.11 per share
Based on ~11.4M weighted-average shares
Q1 2026 total revenue
$2,068,000
Three months ended March 31, 2026
Q1 2026 interest income
$1,699,000
Interest on secured commercial loans in Q1 2026
Q1 2026 origination fees
$368,000
Origination fees on secured commercial loans in Q1 2026
Stockholders’ equity
$43,106,000
As of March 31, 2026
Buyback authorization
100,000 shares
Share repurchase program approved November 20, 2025
Shares repurchased to date
9,300 shares for ~$42,000
Under buyback program as of March 31, 2026
$4.62
Last Close
Volume
Volume 34,095 is in line with 20-day average 34,693 (relative volume 0.98x).
normal
Technical
Shares at $4.62 are trading below the 200-day MA of $4.94 and 21.03% under the 52-week high.
LOAN slipped 0.22% while mortgage REIT peers were mixed: SACH up 0.95%, AFCG up 6.64%, GPMT up 5.78%, CHMI down 0.93%, LFT flat in price but flagged with a 3.88% move in momentum scans. This points to a stock-specific reaction.
Date
Event
Sentiment
Move
Catalyst
Oct 24
Q3 2025 earnings
Negative
-2.7%
Q3 2025 revenue and net income declined amid slower originations.
Jul 22
Q2 2025 earnings
Neutral
-3.3%
Mixed Q2 2025 results with lower revenue but slightly higher net income.
Apr 24
Q1 2025 earnings
Negative
+0.8%
Q1 2025 net income and revenue fell versus prior year on lower loans.
Oct 23
Q3 2024 earnings
Neutral
+0.0%
Q3 2024 showed modest revenue and net income declines but steady nine-month growth.
Jul 22
Q2 2024 earnings
Positive
+0.0%
Q2 2024 revenue and first-half net income increased on higher loan rates.
Pattern Detected
Earnings releases often show modest revenue/net income pressure and have usually led to flat-to-negative next-day moves, with only one clearly aligned selloff and several instances where soft results saw limited or opposite price reactions.
Recent Company History
Recent earnings for Manhattan Bridge Capital have highlighted modest declines in revenue and net income tied to slower originations and smaller loan portfolios. Prior quarters, including Q1 2025 and Q3 2025, showed year-over-year drops in both metrics, while stockholders’ equity stayed around $43M. Price reactions to these updates were generally small, often slightly negative regardless of whether results were mixed or mildly positive. Today’s Q1 2026 report, with lower revenue and net income, continues that pattern of incremental softening against a stable equity base.
-1.0%
Average Historical Move
earnings
Over the last five earnings releases, LOAN’s average next-day move was about -1.03%, typically on modest revenue and net income shifts. Today’s Q1 2026 update, with softer results but stable equity, fits that incremental pattern rather than marking a major outlier.
Earnings updates since mid-2024 trace a shift from modest revenue growth with steady profits to more recent quarters where revenues and net income generally declined as loan originations slowed, while stockholders’ equity has remained around the mid-$43M level.
This announcement reports modest year-over-year declines in Q1 2026 revenue to $2.07M and net income to $1.27M, while stockholders’ equity stayed around $43.1M. Management highlighted encouraging loan pay-offs and deployments in slightly firmer real estate markets, alongside an active but small buyback program. Investors may focus on trends in loans receivable, origination fees, and credit facility usage to gauge whether earnings pressure stabilizes or continues.
sofr
financial
“reflecting lower average borrowings under the Company’s credit facility and decreased prevailing SOFR rates.”
The Secured Overnight Financing Rate (SOFR) is a market benchmark that measures the cost of borrowing cash overnight using U.S. Treasury securities as collateral. Investors watch SOFR because it acts like a speedometer for short-term interest costs—affecting loan rates, bond yields and the pricing of interest-rate contracts—so movements change borrowing expenses, cash returns and the value of interest-sensitive investments.
origination fees
financial
“as well as lower origination fees reflecting reduced loan origination activity.”
Origination fees are one-time charges a lender or loan arranger collects for creating, evaluating and processing a loan or financing deal; they are usually a percentage of the loan amount and paid at closing or over time. For investors, these fees change the effective cost and proceeds of a financing, boost lender or arranger revenue, and can alter deal returns and cash flows—like a service charge that trims what a borrower receives and raises the lender’s income.
AI-generated analysis. Not financial advice.
04/16/2026 – 07:05 AM
GREAT NECK, N.Y., April 16, 2026 (GLOBE NEWSWIRE) —
Manhattan Bridge Capital, Inc. (Nasdaq: LOAN) (the “Company”) announced today that its net income for the three months ended March 31, 2026 was approximately $1,274,000, or $0.11 per share (based on approximately 11.4 million weighted-average outstanding common shares), compared to approximately $1,373,000, or $0.12 per share (based on approximately 11.4 million weighted-average outstanding common shares) for the same period in 2025, representing a decrease of $99,000, or 7.2%. The decrease was primarily attributable to lower revenue, partially offset by reduced interest expense, reflecting lower average borrowings under the Company’s credit facility and decreased prevailing SOFR rates.
Total revenues for the three months ended March 31, 2026 were approximately $2,068,000, compared to approximately $2,274,000 for the same period in 2025, representing a decrease of $206,000, or 9.1%. The decrease was primarily attributable to lower interest income, driven by a period-over-period decline in loans receivable, as well as lower origination fees reflecting reduced loan origination activity. For the three months ended March 31, 2026, approximately $1,699,000 of the Company’s revenue represents interest income on secured commercial loans that the Company offers to real estate investors, compared to approximately $1,834,000 for the same period in 2025, and approximately $368,000 and $440,000, respectively, represent 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.
As of March 31, 2026, total stockholders’ equity was approximately $43,106,000.
On November 20, 2025, the Company’s Board of Directors approved a share repurchase program authorizing the repurchase of up to 100,000 shares of its common stock over the following 12 months. As of March 31, 2026, the Company had repurchased an aggregate of 9,300 shares under the program at a total cost of approximately $42,000. This includes 3,100 shares repurchased during the first quarter of 2026 at an aggregate cost of approximately $14,000.
Assaf Ran, Chairman of the Board and Chief Executive Officer of the Company, stated, “During the first quarter of 2026, the real estate markets in our geographical areas felt a little stronger. Whether property values are trying to catch up with inflation, the lower interest rates (although many believe that they are still too high), or a shortage of inventory, we experienced an encouraging level of loan pay-offs and new deployments. However, it’s too early to determine what the impact of the war with Iran, if any, will be.”
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. The Company operates 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 encouraging level of loan payoffs and new deployments and the potential impact of the war with Iran, 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; and (ix) an increase in interest rates may impact our profitability. The risk factors contained in our Annual Report on Form 10-K for the fiscal year ended December 31, 2025 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.
Contact:
Assaf Ran, CEO
(516) 444-3400
http://www.linkedin.com/in/assafran
SOURCE: Manhattan Bridge Capital, Inc.
MANHATTAN BRIDGE CAPITAL, INC. AND SUBSIDIARY
CONSOLIDATED BALANCE SHEETS
AssetsMarch 31, 2026
(unaudited) December 31, 2025
(audited)
Loans receivable, net of deferred origination and other fees$61,944,470 $60,218,841 Interest and other fees receivable on loans 1,794,782 1,642,825 Cash
183,952 204,889 Cash – restricted 21,717 23,350 Other assets 98,171 60,742 Right-of-use asset – operating lease, net 88,023 101,226 Deferred financing costs, net 123,963 98,858 Total assets$64,255,078 $62,350,731 Liabilities and Stockholders’ Equity Liabilities: Lines of credit$19,436,277 $17,601,132 Accounts payable and accrued expenses 192,895 173,247 Operating lease liability 97,956 112,076 Loan holdback 164,598 50,000 Dividends payable 1,257,229 1,314,732 Total liabilities 21,148,955 19,251,187
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; 11,429,351 and 11,432,451 outstanding, respectively 11,757 11,757 Additional paid-in capital 45,578,272 45,575,006 Less: Treasury shares, at cost – 327,707 and 324,607 shares, respectively (1,112,746) (1,098,964)Accumulated deficit (1,371,160) (1,388,255)Total stockholders’ equity 43,106,123 43,099,544
Total liabilities and stockholders’ equity$64,255,078 $62,350,731 MANHATTAN BRIDGE CAPITAL, INC. AND SUBSIDIARY
CONSOLIDATED STATEMENTS OF OPERATIONS
(unaudited)
Three Months
Ended March 31, 2026 2025Revenue: Interest income from loans$1,699,330 $1,833,914Origination fees 368,314 439,799Total revenue 2,067,644 2,273,713
Operating costs and expenses:
Interest and amortization of deferred financing costs 363,248 451,365Referral fees 3,965 144General and administrative expenses 430,607 453,570Total operating costs and expenses 797,820 905,079 Income from operations 1,269,824 1,368,634Other income 4,500 4,500Net income$1,274,324 $1,373,134 Basic and diluted net income per common share outstanding: –Basic$0.11 $0.12–Diluted$0.11 $0.12 Weighted average number of common shares outstanding: –Basic 11,430,726 11,438,651–Diluted 11,430,726 11,438,651 MANHATTAN BRIDGE CAPITAL, INC. AND SUBSIDIARY
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY
(unaudited)
FOR THE THREE MONTHS ENDED MARCH 31, 2026
Common SharesAdditional Paid-in
CapitalTreasury SharesAccumulated DeficitTotals SharesAmount SharesCost Balance, January 1, 202611,757,058$11,757$45,575,006324,607$(1,098,964)$ (1,388,255)$ 43,099,544 Non-cash compensation 3,266 3,266 Purchase of treasury shares 3,100 (13,782) (13,782)Dividends declared and payable (1,257,229) (1,257,229)Net income____________________ 1,274,324 1,274,324 Balance, March 31, 202611,757,058$11,757$45,578,272327,707$(1,112,746)$(1,371,160)$43,106,123 FOR THE THREE MONTHS ENDED MARCH 31, 2025
Common SharesAdditional Paid-in
CapitalTreasury SharesAccumulated DeficitTotals SharesAmount SharesCost Balance, January 1, 202511,757,058$11,757$45,561,941318,407$(1,070,406)$(1,238,165)$ 43,265,127 Non-cash compensation 3,266 3,266 Dividends declared and payable (1,315,445) (1,315,445)Net income____________________ 1,373,134 1,373,134 Balance, March 31, 202511,757,058$11,757$45,565,207318,407$(1,070,406)$(1,180,476)$43,326,082 MANHATTAN BRIDGE CAPITAL, INC. AND SUBSIDIARY
CONSOLIDATED STATEMENTS OF CASH FLOWS
(unaudited)
Three Months
Ended March 31, 2026 2025 Cash flows from operating activities: Net income $1,274,324 $1,373,134 Adjustments to reconcile net income to net cash provided by
operating activities – Amortization of deferred financing costs 18,656 22,237 Adjustment to right-of-use asset – operating lease and liability (916) (345)Depreciation 570 1,390 Non-cash compensation expense 3,266 3,266 Changes in operating assets and liabilities: Interest and other fees receivable on loans (151,957) (110,915)Other assets (38,000) (58,952)Accounts payable and accrued expenses 19,648 (37,435)Deferred origination and other fees 133,143 (11,437)Net cash provided by operating activities 1,258,734 1,180,943 Cash flows from investing activities: Issuance of short-term loans (14,246,800) (10,940,040)Collections received from loans 12,388,029 12,698,051 Net cash (used in) provided by investing activities (1,858,771) 1,758,011 Cash flows from financing activities: Proceeds from lines of credit 15,018,720 12,667,992 Repayment of lines of credit (13,183,575) (14,270,131)Proceeds from borrower escrow deposits 114,598 — Dividend paid (1,314,732) (1,315,445)Deferred financing costs incurred (43,762) — Purchase of treasury shares (13,782) — Net cash provided by (used in) financing activities 577,467 (2,917,584) Net (decrease) increase in cash (22,570) 21,370 Cash and restricted cash, beginning of period(1) 228,239 201,762 Cash and restricted cash, end of period(2) $205,669 $223,132 Supplemental Disclosure of Cash Flow Information: Cash paid during the period for interest$329,665 $437,993 Cash paid during the period for operating leases$16,602 $15,991 Supplemental Schedule of Noncash Financing Activities: Dividend declared and payable$1,257,229 $1,315,445 Supplemental Schedule of Noncash Operating and Investing Activities: Reduction in interest receivable in connection with the increase in loans receivable$— $13,122
(1) At December 31, 2025 and 2024, cash and restricted cash included $23,350 and $23,750, respectively, of restricted cash.
(2) At March 31, 2026 and 2025, cash and restricted cash included $21,717 and $21,769, respectively, of restricted cash.
SOURCE: Manhattan Bridge Capital, Inc.
FAQ
What were Manhattan Bridge Capital’s (LOAN) Q1 2026 net income and EPS?
Net income was approximately $1,274,000, or $0.11 per share for Q1 2026. According to the company, this represents a 7.2% decrease versus Q1 2025 driven mainly by lower revenue and origination activity.
How much revenue did LOAN report for the quarter ended March 31, 2026?
Total revenue for Q1 2026 was approximately $2,068,000. According to the company, revenue declined 9.1% year-over-year due to lower interest income from reduced loans receivable and lower origination fees.
What is Manhattan Bridge Capital’s reported stockholders’ equity as of March 31, 2026?
Stockholders’ equity was approximately $43,106,000 as of March 31, 2026. According to the company, this reflects the company’s capital position after the quarter’s results and share repurchases.
How many shares has LOAN repurchased under its buyback program as of March 31, 2026?
The company repurchased an aggregate of 9,300 shares under the program, costing about $42,000. According to the company, 3,100 of those shares were repurchased during Q1 2026 at roughly $14,000.
Why did Manhattan Bridge Capital’s interest expense decline in Q1 2026?
Interest expense fell due to lower average borrowings under the company’s credit facility and decreased prevailing SOFR rates. According to the company, these factors partially offset revenue declines for the quarter.