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Angel Oak Mortgage Income Statement

Revenue, expenses, and profitability over time

Angel Oak Mortgage generated $151.5M in trailing twelve-month revenue, up 0.3% year-over-year. Net income was $16.1M with a 10.64% net margin. Diluted EPS is $0.63, which declined 0.8% year-over-year. Based on the Q1 2026 filing.

Total Revenue (TTM)$151.5MNet Income (TTM)$16.1MEps Diluted (TTM)$0.63
Latest FilingQ1 2026
Report Date2026-05-05
Market Cap$205.0M
P/E Ratio12.72
ROE6.34%

Operating Expenses

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Stock-Based Compensation Expense$177K$237K$296K$397K$424K$423K
Total stock-based compensation$177K$237K$296K$398K$424K$423K
Share-Based Compensation Expense$177K$237K$296K$397K$424K$423K
Stock-Based Compensation Expense (Pre-tax)$177K$237K$296K$398K$424K$423K
Compensation and benefits$177K$237K$296K$398K$424K$423K
Allocated Share-Based Compensation Expense$177K$237K$296K$398K$424K$423K
Share-Based Compensation (Operating)$177K$237K$296K$398K$424K$423K
Share-Based Compensation Expense Before Income Taxes$177K$237K$296K$398K$424K$423K
Stock-based compensation expense$177K$237K$296K$398K$424K$423K
Securitization costs$2.2M$0$1.9M$0$1.7M$1.4M
Share-Based Compensation$177K$237K$296K$397K$424K$423K
Total operating expenses$5.5M$3M$5.1M$3.2M$5.2M$5.2M
Stock-Based Compensation (Before Tax)$177K$237K$296K$398K$424K$423K

Net Income

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Net income applicable to common shareholders—$20.5M$767K$11.4M$11.3M-$7.4M
Net earnings to common—$20.5M$767K$11.4M$11.3M-$7.4M
Net Income Available to Common Shareholders—$20.5M$767K$11.4M$11.3M-$7.4M
Net income—$20.5M$767K$11.4M$11.3M-$7.4M
Net income attributable to common stock—$20.5M$767K$11.4M$11.3M-$7.4M

Other Income & Expense

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Cash Paid for Interest$19.9M$17.5M$19.9M$22.7M$34.8M$28.9M
Interest expense$22M$22.8M$25.2M$26.5M$28.1M$28.6M

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Reclassifications Net of Tax—$20.5M$767K$11.4M$11.3M-$7.4M
Interest Paid, Net$19.9M$17.5M$19.9M$22.7M$34.8M$28.9M
Pre-tax stock-based compensation cost$177K$237K$296K$398K$424K$423K
Comprehensive Income (Loss), Net of Tax, Attributable to Parent—$19.8M$276K$15.1M$11M-$3M
Income tax expense (benefit)$815.3K$132.8K$132.8K$132.8K$132.8K—
Increase Decrease In Interest Payable Net—$931K$392K$0$1.3M-$1.5M
Interest and Dividend Income, Operating$31.9M$32.9M$35.1M$36.7M$39M$40.7M
Interest Income (Expense), Operating$9.9M$10.1M$9.9M$10.2M$10.9M$12.1M
Interest Paid, Excluding Capitalized Interest, Operating Activity$19.9M$17.5M$19.9M$22.7M$34.8M$28.9M
Management fees$1.2M$1.1M$1.1M$1.2M$1.2M$1.1M
Cash Provided by (Used in) Financing Activity, Including Discontinued Operation—$278.2M—$155.8M$51.6M$141.7M
Cash Provided by (Used in) Investing Activity, Including Discontinued Operation$34.5M-$75.9M—$26.7M—$403K
Cash Provided by (Used in) Operating Activity, Including Discontinued Operation-$25.1M-$201.7M$0-$173.4M-$52.5M-$143.7M
Noninterest Expense$5.5M$3M$5.1M$3.2M$5.2M$5.2M
Proceeds From Payments For In Securities Sold Under Agreements To Repurchase-$52.3M$97.9M———$3M
Realized And Unrealized Gain (Loss) on Derivatives and Investments—$13.4M-$4.1M$4.7M$5.8M-$14.3M
Net realized gain (loss) on mortgage loans, derivative contracts, RMBS, and CMBS—-$3.2M-$2.5M-$6.6M—-$2.7M
Stock-based compensation$177K$237K$296K$397K$424K$423K
Net unrealized gain (loss) on mortgage loans, portion of debt at fair value option, derivative contracts, and trading securities—$16.6M-$1.6M$11.3M$4.4M-$11.6M
Other Comprehensive Income (Loss)—$19.8M$276K$15.1M$11M-$3M

Earnings Per Share

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Basic earnings per share—$0.88$0.03$0.49$0.45$-0.30
Diluted earnings per share—$0.87$0.03$0.46$0.44$-0.30
Weighted-average shares, basic24.2M23.4M23.5M23M23.7M24.8M
Weighted-average shares, diluted24.4M23.6M23.8M24.6M24.3M24.8M

Income Before Tax

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Income before income taxes—$20.5M$767K$11.7M$11.5M-$7.4M

Tax

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Income tax expense$0$0$0$307K—$0

Revenue

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Net interest income$9.9M$10.1M$9.9M$10.2M$10.9M$12.1M
Total interest income$31.9M$32.9M$35.1M$36.7M$39M$40.7M
Total revenue$31.9M$32.9M$35.1M$36.7M$39M$40.7M