Manhattan Bridge Capital, Inc. Reports First Quarter Results for 2026

Rhea-AI Summary

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.

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

Market Context

This announcement reports modest year-over-year declines in Q1 2026 revenue to $2.07M and net income...

Analysis

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.

Key Figures

Q1 2026 net income: $1,274,000 Q1 2026 EPS: $0.11 per share Q1 2026 total revenue: $2,068,000 +5 more

8 metrics

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

Previous Earnings Reports

5 past events · Latest: Oct 24 (Negative)

Same Type Pattern 5 events

Date	Event	Sentiment	24h 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.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

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.

Key Terms

sofr, origination fees, secured commercial loans

3 terms

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.

secured commercial loans financial

"represents interest income on secured commercial loans that the Company offers to real estate investors"

A secured commercial loan is money lent to a business that is backed by specific assets—such as property, equipment, inventory, or receivables—that the lender can claim if the borrower fails to repay. For investors, these loans matter because the collateral reduces the lender’s risk and can affect interest rates, loan availability and a company’s balance sheet health; think of it as a loan with a safety net that can influence a business’s stability and credit costs.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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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
Assets	March 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			2025
Revenue:
Interest income from loans	$	1,699,330		$	1,833,914
Origination fees		368,314			439,799
Total revenue		2,067,644			2,273,713
Operating costs and expenses:
Interest and amortization of deferred financing costs		363,248			451,365
Referral fees		3,965			144
General and administrative expenses		430,607			453,570
Total operating costs and expenses		797,820			905,079
Income from operations		1,269,824			1,368,634
Other income		4,500			4,500
Net 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 Shares			Additional Paid-in Capital		Treasury Shares				Accumulated Deficit			Totals
	Shares	Amount				Shares	Cost
Balance, January 1, 2026	11,757,058	$11,757		$45,575,006		324,607	$(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, 2026	11,757,058	$11,757		$45,578,272		327,707	$(1,112,746		)	$(1,371,160		)	$43,106,123

FOR THE THREE MONTHS ENDED MARCH 31, 2025
	Common Shares			Additional Paid-in Capital		Treasury Shares				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					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, 2025	11,757,058	$11,757		$45,565,207		318,407	$(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.