Orchid Island Capital (NYSE: ORC) gives preliminary book value, income

Rhea-AI Filing Summary

Orchid Island Capital, Inc. reported preliminary results for its mortgage REIT business. The company estimated book value of 7.54 per share as of December 31, 2025. It also estimated GAAP net income of $0.62 per share for the quarter ended December 31, 2025, which includes about $0.43 per share of net realized and unrealized gains on its RMBS and derivative instruments.

The company emphasized that these figures are preliminary, may change, and remain subject to review by its independent registered public accounting firm. More detail is provided in a press release furnished as an exhibit to this report.

Insights

Mortgage REIT analyst

Orchid Island released preliminary per-share book value and income figures.

Orchid Island Capital provided early indications of performance as of December 31, 2025. Estimated book value is 7.54 per share, and estimated GAAP net income is $0.62 per share for the quarter, including $0.43 per share of gains tied to RMBS and derivative positions.

These numbers are described as preliminary and subject to change after review by the independent registered public accounting firm, so they are best seen as directional rather than final. The inclusion of realized and unrealized gains highlights the impact of market movements on the RMBS portfolio and hedges during the period.

Once the audited results for the quarter and year ended December 31, 2025 are released, they will show whether these estimates hold and how portfolio composition and risk positioning evolved around that date.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): January 14, 2026

Orchid Island Capital, Inc.

(Exact Name of Registrant as Specified in Charter)

Maryland	001-35236	27-3269228
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)

3305 Flamingo Drive, Vero Beach, Florida 32963

(Address of Principal Executive Offices) (Zip Code)

Registrant's telephone number, including area code  (772) 231-1400

N/A

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class:	Trading symbol:	Name of each exchange on which registered:
Common Stock, par value $0.01 per share	ORC	NYSE

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02. Results of Operations and Financial Condition.

On January 14, 2026, Orchid Island Capital, Inc. (the “Company”) announced its estimated book value of 7.54 per share as of December 31, 2025, certain details of its RMBS portfolio as of December 31, 2025, and estimated GAAP net income per share of $0.62, including an estimated $0.43 per share of net realized and unrealized gains on RMBS and derivative instruments, for the quarter ended December 31, 2025. These figures and the estimated book value per share and estimated GAAP net income per share are preliminary, subject to change, and subject to review by the Company’s independent registered public accounting firm. A copy of the Company’s press release announcing this preliminary information regarding the Company is attached hereto as Exhibit 99.1 and incorporated herein by this reference.

Caution About Forward-Looking Statements.

This Current Report on Form 8-K contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. These forward-looking statements are based upon the Company’s present expectations, but the Company cannot assure investors that actual results will not vary from the expectations contained in the forward-looking statements. Investors should not place undue reliance upon forward looking statements. For further discussion of the factors that could affect outcomes, please refer to the “Risk Factors” section of the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2024. All forward-looking statements speak only as of the date on which they are made. New risks and uncertainties arise over time, and it is not possible to predict those events or how they may affect the Company. Except as required by law, the Company is not obligated to, and does not intend to, update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

Exhibit No.		Description
99.1		Press Release dated January 14, 2026
104		Cover Page Interactive Data File (embedded within the Inline XBRL document)

Signatures

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: January 14, 2026		ORCHID ISLAND CAPITAL, INC.
	By:	/s/ Robert E. Cauley
		Robert E. Cauley
		Chairman and Chief Executive Officer

FAQ

What book value per share did Orchid Island Capital (ORC) estimate as of December 31, 2025?

Orchid Island Capital estimated a book value of 7.54 per share as of December 31, 2025.

What was Orchid Island Capital's estimated GAAP net income per share for the quarter ended December 31, 2025?

The company reported estimated GAAP net income of $0.62 per share for the quarter ended December 31, 2025.

How much of Orchid Island Capital's estimated net income per share came from RMBS and derivatives?

Of the estimated GAAP net income, about $0.43 per share came from net realized and unrealized gains on RMBS and derivative instruments.

Are Orchid Island Capital's reported book value and income figures final?

No. The company stated these book value and GAAP net income per share figures are preliminary, subject to change, and subject to review by its independent registered public accounting firm.

Where can investors find more detail on Orchid Island Capital's preliminary results?

Additional detail is provided in a press release dated January 14, 2026, which is included as Exhibit 99.1 to this report.

What caution did Orchid Island Capital include about forward-looking statements?

The company noted that its forward-looking statements are based on current expectations, may differ from actual results, and are subject to risks described in the Risk Factors section of its Annual Report on Form 10-K for the year ended December 31, 2024.