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

Nine-month operating cash flow increased to $4,026,477 from $3,806,024 despite lower earnings.

Rhea-AI Summary

Manhattan Bridge Capital (Nasdaq: LOAN) reported third-quarter 2026 net income of $1,238,462, an increase from the same period last year. Revenue for the three months ended September 30 rose 0.9% to $2,053,558, while net income increased 3.0%. Basic and diluted earnings per share remained $0.11. Higher origination fees and lower financing expenses offset lower interest income and higher administrative expenses.

For the nine months ended September 30, revenue fell 7.5% to $6,166,405, and net income declined 8.1% to $3,665,433. Basic and diluted earnings per share decreased to $0.32 from $0.35. On October 8, the board increased its repurchase authorization from 100,000 to 250,000 shares and extended it through October 8, 2027. At September 30, loans receivable, net of deferred fees, were $59,478,735, and shareholders’ equity was $42,789,479.

10 points · 0 major

MixediHow this balance works

How this balance works

Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.

It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.

Rhea-AI Sentiment measures something else, the tone of the wording.

How the balance worksHow Sentiment works

0 major · 12 points

How the balance works

Positive

• Moderate pointThird-quarter net income increased 3.0% to $1,238,462; basic and diluted EPS remained $0.11 year over year.
• Moderate pointThird-quarter revenue rose 0.9% to $2,053,558 from $2,035,753 a year earlier.
• Moderate pointNine-month operating cash flow increased to $4,026,477 from $3,806,024 a year earlier.
• Moderate pointRepurchase authorization increased from 100,000 to 250,000 shares, with the program extended through October 8, 2027.
• Minor pointThird-quarter origination fees increased to $391,662 from $265,376 a year earlier.

5 minor points

• Minor pointThird-quarter financing expenses decreased to $369,477 from $421,980 a year earlier, including deferred financing cost amortization.
• Minor pointNine-month financing expenses decreased to $1,131,684 from $1,379,595 a year earlier, including deferred financing cost amortization.
• Minor pointNine-month repurchases returned $219,339 to shareholders through purchases of 54,985 shares.
• Minor pointLines of credit outstanding declined to $17,034,621 at September 30, 2026, from $17,601,132 at December 31, 2025.
• Minor pointNine-month short-term loan issuance increased to $40,832,273 from $27,957,494 a year earlier.

Negative

• Moderate pointNine-month net income fell 8.1% to $3,665,433; basic and diluted EPS declined to $0.32 from $0.35.
• Moderate pointNine-month revenue declined 7.5% to $6,166,405 from $6,664,702 a year earlier.
• Minor pointNine-month interest income decreased to $5,099,291 from $5,503,694 a year earlier.
• Minor pointNine-month origination fees decreased to $1,067,114 from $1,161,008 a year earlier.
• Minor pointThird-quarter interest income declined to $1,661,896 from $1,770,377 a year earlier.

7 minor points

• Minor pointThird-quarter general and administrative expenses increased to $447,275 from $413,518 a year earlier.
• Minor pointNine-month general and administrative expenses increased to $1,373,033 from $1,304,873 a year earlier.
• Minor pointNine-month referral fees increased to $8,455 from $4,242; third-quarter fees rose to $2,844 from $2,575.
• Minor pointNet loans receivable declined to $59,478,735 at September 30, 2026, from $60,218,841 at December 31, 2025.
• Minor pointShareholders’ equity declined to $42,789,479 at September 30, 2026, from $43,099,544 at December 31, 2025.
• Minor pointCash and restricted cash decreased $51,396 during the first nine months of 2026, ending at $176,843.
• Minor pointDeferred financing costs incurred were $64,816 in the first nine months of 2026, versus none a year earlier.

News Explained

By September 30, 2026, Manhattan Bridge Capital had bought back 61,185 shares for $248,000 and reported 11,377,466 shares outstanding; the amended program permits repurchases of up to 250,000 shares through October 8, 2027.

Key Figures

Q3 revenue: $2,053,558; +0.9% YoY Q3 net income: $1,238,462; +3.0% YoY Q3 diluted EPS: $0.11 +4 more

Q3 revenue

$2,053,558; +0.9% YoY

Three months ended September 30, 2026

Q3 net income

$1,238,462; +3.0% YoY

Three months ended September 30, 2026

Q3 diluted EPS

$0.11

Three months ended September 30, 2026; unchanged from 2025

Nine-month revenue

$6,166,405; -7.5% YoY

Nine months ended September 30, 2026

Nine-month net income

$3,665,433; -8.1% YoY

Nine months ended September 30, 2026

Nine-month diluted EPS

$0.32 vs. $0.35

Nine months ended September 30, 2026 vs. 2025

Share repurchase authorization

250,000 shares; extended through October 8, 2027

Amended program increased from 100,000 shares and extended 12 months

Previous Earnings Reports

2 past events · Latest: Jul 23

Same Type 2 events

1. Jul 23

   Q2 earnings

   24h Move

   -3.2%

   Q2 revenue and net income fell year over year amid lower rates and origination fees.

2. Oct 24

   Q3 earnings

   24h Move

   -2.7%

   Q3 revenue and net income declined year over year as interest income and origination fees fell.

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

Key Terms

origination fees, weighted-average outstanding common shares, treasury shares, deferred financing costs

4 terms

origination fees financial

"approximately $392,000 ... of the Company’s revenues were attributable to origination fees"

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.

weighted-average outstanding common shares financial

"based on approximately 11.41 million weighted-average outstanding common shares"

The weighted-average outstanding common shares is the average number of common shares a company had available during a reporting period, adjusted for changes such as stock issues, buybacks, or splits. Investors use it to calculate per-share measures like earnings per share, because it treats share-count changes like blending daily seat availability on a bus: more or fewer seats at different times affect the average passenger share, and thus the value assigned to each share.

treasury shares financial

"Less: Treasury shares, at cost"

Treasury shares are a company’s own stock that it has repurchased and keeps on its books instead of canceling or leaving in the hands of outside investors. Think of them like coupons a business puts back in a drawer: they don’t vote or receive dividends while held, but they can be reissued later for employee pay or fundraising. For investors this matters because buybacks change the number of shares that count toward earnings and ownership, can boost per‑share metrics, and use corporate cash that might otherwise go to growth or dividends.

deferred financing costs financial

"Interest and amortization of deferred financing costs"

Deferred financing costs are the up‑front fees and charges a company pays to secure a loan or issue bonds—like legal, underwriting and arrangement fees—that are recorded on the balance sheet and spread out as an expense over the life of the debt. For investors, they matter because they affect reported interest expense, the carrying value of debt and certain financial ratios, so understanding them helps reveal the true cost and timing of a company’s borrowing, much like spreading a one‑time travel booking fee across the whole trip.

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

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

GREAT NECK, N.Y., Oct. 21, 2026 (GLOBE NEWSWIRE) -- Manhattan Bridge Capital, Inc. (Nasdaq: LOAN) (the “Company”) announced today that its total revenues for the three months ended September 30, 2026 were approximately $2,054,000, compared to approximately $2,036,000 for the same period in 2025, representing an increase of approximately $18,000, or 0.9%. The increase was primarily attributable to higher origination fees, partially offset by lower interest income resulting from lower interest rates charged to borrowers due to increased competition in the marketplace. For the three months ended September 30, 2026 and 2025, approximately $1,662,000 and $1,770,000, respectively, of the Company’s revenues were attributable to interest income on secured commercial loans offered to real estate investors, and approximately $392,000 and $265,000, respectively, of the Company’s revenues were attributable to origination fees on such loans. The loans are principally secured by real estate collateral and accompanied by personal guarantees from the principals of the borrowers.

Net income for the three months ended September 30, 2026 was approximately $1,238,000, or $0.11 per basic and diluted share (based on approximately 11.41 million weighted-average outstanding common shares), compared to approximately $1,202,000, or $0.11 per basic and diluted share (based on approximately 11.44 million weighted-average outstanding common shares), for the same period in 2025, representing an increase of approximately $36,000, or 3.0%. The increase was primarily attributable to lower interest expense and higher origination fee income, partially offset by lower interest income and higher general and administrative expenses.

Total revenues for the nine months ended September 30, 2026 were approximately $6,166,000, compared to approximately $6,665,000 for the same period in 2025, representing a decrease of approximately $499,000, or 7.5%. The decrease occurred despite increases in both the number of loans originated and the amount of capital deployed and was primarily attributable to lower interest rates and origination fees charged to borrowers as a result of increased competition in the marketplace. For the nine months ended September 30, 2026 and 2025, approximately $5,099,000 and $5,504,000, respectively, of the Company’s revenues were attributable to interest income on secured commercial loans offered to real estate investors, and approximately $1,067,000 and $1,161,000, respectively, were attributable to origination fees on such loans. The loans are principally secured by real estate collateral and accompanied by personal guarantees from the principals of the borrowers.

Net income for the nine months ended September 30, 2026 was approximately $3,665,000, or $0.32 per basic and diluted share (based on approximately 11.42 million weighted-average outstanding common shares), compared to approximately $3,988,000, or $0.35 per basic and diluted share (based on approximately 11.44 million weighted-average outstanding common shares), for the same period in 2025, representing a decrease of approximately $323,000, or 8.1%. The decrease was primarily attributable to lower revenues and higher general and administrative expenses, partially offset by lower interest expense.

As of September 30, 2026, total shareholders' equity was approximately $42,789,000.

On November 20, 2025, the Company’s board of directors authorized a share repurchase program authorizing the repurchase of up to 100,000 shares of the Company’s common stock in the next twelve months. As of September 30, 2026, the Company had repurchased an aggregate of 61,185 shares under the program at a total cost of approximately $248,000. Of these amounts, 54,985 shares were repurchased during the nine months ended September 30, 2026 at an aggregate cost of approximately $219,000.

On October 8, 2026, the Company’s board of directors approved an amendment to the existing share repurchase program, increasing the aggregate number of shares authorized for repurchase from 100,000 to 250,000 shares and extending the program for an additional 12 months, through October 8, 2027.

Assaf Ran, Chairman of the Board and Chief Executive Officer of the Company, stated, “The increasing interest rate environment is raising pressure on the real estate markets, rent-to-mortgage-payment ratios are getting tighter, and sales are lingering as fewer buyers qualify for loans. Yet, unexpectedly, hard money rates haven’t increased much at this point due to intense competition. The facts that we’re exceptionally low leveraged and conservative are beneficial during these times.”

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 development 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 statements made by the Company’s representatives in connection with this press release 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. Words such as “plan,” “project,” “potential,” “seek,” “may,” “will,” “expect,” “believe,” “anticipate,” “intend,” “could,” “estimate,” and “continue,” and similar expressions, are intended to identify forward-looking statements.

Forward-looking statements in this press release include, among other things, statements regarding the future lending activity, competitive conditions, and interest rates. Readers are cautioned that 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 such forward-looking statements as a result of various factors, including, but not limited to: (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 and fees; (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 the amounts recoverable through foreclosure, or incorrectly value the collateral securing our loans, 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 shareholders may be required to pay income taxes in excess of the cash dividends they receive; and (ix) an increase in interest rates may affect our profitability. The risk factors described in our Annual Report on Form 10-K for the fiscal year ended December 31, 2025, filed with the Securities and Exchange Commission, identify additional important factors that could cause actual results to differ materially from those expressed or implied in any forward-looking statements. These forward-looking statements speak only as of the date of this press release. Except as required by applicable law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

MANHATTAN BRIDGE CAPITAL, INC. AND SUBSIDIARY CONSOLIDATED BALANCE SHEETS
Assets	September 30, 2026 (unaudited)				December 31, 2025 (audited)
Loans receivable, net of deferred origination and other fees	$	59,478,735			$	60,218,841
Interest and other fees receivable on loans		1,566,838				1,642,825
Cash		168,093				204,889
Cash – restricted		8,750				23,350
Other assets		88,508				60,742
Right-of-use asset – operating lease, net		61,616				101,226
Deferred financing costs, net		107,000				98,858
Total assets	$	61,479,540			$	62,350,731

Liabilities and Stockholders’ Equity
Liabilities:
Lines of credit	$	17,034,621			$	17,601,132
Accounts payable and accrued expenses		170,734				173,247
Operating lease liability		69,274				112,076
Loan holdback		164,598				50,000
Dividends payable		1,250,834				1,314,732
Total liabilities		18,690,061				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; 11,377,466 and 11,432,451 outstanding, respectively		11,757				11,757
Additional paid-in capital		45,583,716				45,575,006
Less: Treasury shares, at cost – 379,592 and 324,607 shares, respectively		(1,318,303	)			(1,098,964	)
Accumulated deficit		(1,487,691	)			(1,388,255	)
Total stockholders’ equity		42,789,479				43,099,544
Total liabilities and stockholders’ equity	$	61,479,540			$	62,350,731

MANHATTAN BRIDGE CAPITAL, INC. AND SUBSIDIARY CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited)
	Three Months Ended September 30,								Nine Months Ended September 30,
	2026				2025				2026				2025
Revenue: Interest income from loans	$	1,661,896			$	1,770,377			$	5,099,291			$	5,503,694
Origination fees		391,662				265,376				1,067,114				1,161,008
Total revenue		2,053,558				2,035,753				6,166,405				6,664,702
Operating costs and expenses:
Interest and amortization of deferred financing costs		369,477				421,980				1,131,684				1,379,595
Referral fees		2,844				2,575				8,455				4,242
General and administrative expenses		447,275				413,518				1,373,033				1,304,873
Total operating costs and expenses		819,596				838,073				2,513,172				2,688,710
Income from operations		1,233,962				1,197,680				3,653,233				3,975,992
Other income		4,500				4,500				13,500				13,500
Income before income tax expense		1,238,462				1,202,180				3,666,733				3,989,492
Income tax expense		---				---				(1,300	)			(1,210	)
Net income	$	1,238,462			$	1,202,180			$	3,665,433			$	3,988,282
Basic and diluted net income per common share outstanding:
--Basic	$	0.11			$	0.11			$	0.32			$	0.35
--Diluted	$	0.11			$	0.11			$	0.32			$	0.35
Weighted average number of common shares outstanding:
--Basic		11,410,412				11,438,651				11,422,745				11,438,651
--Diluted		11,410,412				11,438,651				11,422,745				11,438,651

MANHATTAN BRIDGE CAPITAL, INC. AND SUBSIDIARY CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY (unaudited)
FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2026
	Common Shares			Additional Paid in Capital	Treasury Shares		Accumulated Deficit	Totals
	Shares	Amount			Shares	Cost
Balance, July 1, 2026	11,757,058	$11,757		$45,581,538	331,549	$(1,129,013)	$(1,475,319)	$42,988,963
Non-cash compensation				2,178				2,178
Purchase of treasury shares					48,043	(189,290)		(189,290)
Dividends declared and payable							(1,250,834)	(1,250,834)
Net income	________	______		__________	______	__________	1,238,462	1,238,462
Balance, September 30, 2026	11,757,058	$11,757		$45,583,716	379,592	$(1,318,303)	$(1,487,691)	$42,789,479

FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2025
	Common Shares			Additional Paid in Capital	Treasury Shares			Accumulated Deficit	Totals
	Shares	Amount			Shares	Cost
Balance, July 1, 2025	11,757,058	$11,757		$45,568,473	318,407	$(1,070,406)		$(1,082,953)	$43,426,871
Non-cash compensation				3,266					3,266
Dividends declared and payable								(1,315,445)	(1,315,445)
Net income	________	______		__________	______	__________		1,202,180	1,202,180
Balance, September 30, 2025	11,757,058	$11,757		$45,571,739	318,407	$(1,070,406)		$(1,196,218)	$43,316,872

FOR THE NINE MONTHS ENDED SEPTEMBER 30, 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				8,710				8,710
Purchase of treasury shares					54,985	(219,339)		(219,339)
Dividends paid							(2,514,035)	(2,514,035)
Dividends declared and payable							(1,250,834)	(1,250,834)
Net income	________	______		_________	______	__________	3,665,433	3,665,433
Balance, September 30, 2026	11,757,058	$11,757		$45,583,716	379,592	$(1,318,303)	$(1,487,691)	$42,789,479

FOR THE NINE MONTHS ENDED SEPTEMBER 30, 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			9,798				9,798
Dividends paid						(2,630,890)	(2,630,890)
Dividends declared and payable						(1,315,445)	(1,315,445)
Net income	________	______	__________	______	__________	3,988,282	3,988,282
Balance, September 30, 2025	11,757,058	$11,757	$45,571,739	318,407	$(1,070,406)	$(1,196,218)	$43,316,872

MANHATTAN BRIDGE CAPITAL, INC. AND SUBSIDIARY CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited)
		Nine Months Ended September 30,
		2026				2025
Cash flows from operating activities:
Net income		$	3,665,433			$	3,988,282
Adjustments to reconcile net income to net cash provided by operating activities -
Amortization of deferred financing costs			56,675				66,710
Adjustment to right-of-use asset - operating lease and liability			(3,191	)			(1,459	)
Depreciation			1,281				4,007
Non-cash compensation expense			8,710				9,798
Changes in operating assets and liabilities:
Interest and other fees receivable on loans			75,987				(70,895	)
Other assets			(29,049	)			(69,940	)
Accounts payable and accrued expenses			(2,513	)			(60,678	)
Deferred origination and other fees			138,546				(59,801	)
Proceeds from borrower escrow deposits – loan holdback			114,598				---
Net cash provided by operating activities			4,026,477				3,806,024
Cash flows from investing activities:
Issuance of short-term loans			(40,832,273	)			(27,957,494	)
Collections received from loans			41,433,833				35,474,993
Purchase of fixed assets			---				(418	)
Net cash provided by investing activities			601,560				7,517,081
Cash flows from financing activities:
Repayment of lines of credit			(43,901,366	)			(40,751,845	)
Proceeds from lines of credit			43,334,855				33,373,595
Dividends paid			(3,828,767	)			(3,946,335	)
Purchase of treasury shares			(219,339	)			---
Deferred financing costs incurred			(64,816	)			---
Net cash used in financing activities			(4,679,433	)			(11,324,585	)
Net decrease in cash and restricted cash			(51,396	)			(1,480	)
Cash and restricted cash, beginning of period(1)			228,239				201,762
Cash and restricted cash, end of period(2)		$	176,843			$	200,282
Supplemental Disclosure of Cash Flow Information:
Cash paid during the period for taxes		$	1,300			$	1,210
Cash paid during the period for interest		$	1,074,078			$	1,346,361
Cash paid during the period for operating leases		$	49,454			$	47,973
Supplemental Schedule of Noncash Financing Activities:
Dividend declared and payable		$	1,250,834			$	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 September 30, 2026 and 2025, cash and restricted cash included $8,750 and $13,847, respectively, of restricted cash.}

Contact:
Assaf Ran, CEO
(516) 444-3400
www.linkedin.com/in/assafran
SOURCE: Manhattan Bridge Capital, Inc.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What were Manhattan Bridge Capital’s third-quarter 2026 earnings?

Manhattan Bridge Capital earned $1,238,462 in the three months ended September 30, 2026, up 3.0% from $1,202,180 a year earlier. Basic and diluted earnings per share remained $0.11. Revenue increased 0.9% to $2,053,558.

How did Manhattan Bridge Capital change its share repurchase program?

The board increased the aggregate repurchase authorization from 100,000 to 250,000 shares on October 8, 2026, and extended the program through October 8, 2027. As of September 30, 2026, the company had repurchased 61,185 shares under the program at a total cost of approximately $248,000.

Why did Manhattan Bridge Capital’s nine-month 2026 revenue decline?

The company attributed the decline primarily to lower interest rates and origination fees charged to borrowers because of increased competition. Revenue decreased despite increases in both the number of loans originated and the amount of capital deployed.