Company: AOMN
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001766478-25-000080
Chunk: 76

Company: Angel Oak Mortgage REIT, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Item 1
Chunk 76
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Our cash balance as of June 30, 2025 was sufficient to meet our liquidity covenants under our financing facilities and the 2029 Notes and 2030 Notes. We believe that we maintain sufficient cash to continue to meet margin calls on our financing facilities, should such margin calls occur. There was no margin collateral required as of June 30, 2025 or December 31,2024.  We may also participate in upcoming securitizations either solely or with other Angel Oak entities. We also have the ability to leverage currently unleveraged securities or whole loan assets, if we deem those actions advisable.

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Restricted Cash

Restricted cash of approximately $3.9 million as of June 30, 2025 was comprised of: $2.7 million  in interest rate futures margin collateral for the interest rate futures under our sole control; and margin collateral for securities sold under agreements to repurchase of $1.2 million. 

Restricted cash of approximately $2.1 million as of December 31, 2024 was comprised of: $0.8 million in interest rate futures margin collateral; and margin collateral for securities sold under agreements to repurchase of $1.2 million. Our counterparties did not require any margin collateral for TBAs as of December 31, 2024.

Cash Flows

Six Months EndedJune 30, 2025June 30, 2024(in thousands)Cash flows provided by (used in) operating activities$(181,103)$16,014 Cash flows provided by (used in) investing activities(5,769)(11,061)Cash flows provided by financing activities188,346 (3,347)Net increase in cash and restricted cash$1,474 $1,606 

The cash used in operating activities of $181.1 million for the six months ended June 30, 2025 as compared to the cash provided of $16.0 million for the six months ended June 30, 2024 was primarily due to the volume of residential mortgage loans purchased from non affiliates during the first six months of 2024, as compared to the first six months of 2025.

The use of investing cash flows of $5.8 million for the six months ended June 30, 2025 as compared to cash used in investing activities of $11.1 million for the six months ended June 30, 2024 were primarily due to the timing of