Company: AOMN
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001766478-25-000080
Chunk: 95

Company: Angel Oak Mortgage REIT, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Item 2
Chunk 95
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 three and six months ended June 30, 2025 and 2024:

Three Months EndedSix Months EndedJune 30, 2025June 30, 2024June 30, 2025June 30, 2024(in thousands)Net income (loss) allocable to common stockholders$767 $(273)$21,298 $12,601 Adjustments:Net unrealized (gains) losses on trading securities(4,898)1,813 (3,866)1,814 Net unrealized (gains) losses on derivatives4,829 (2,592)5,871 (3,037)Net unrealized (gains) losses on residential loans in securitization trusts and non-recourse securitization obligation(546)2,579 (16,204)(2,568)Net unrealized (gains) losses on residential loans2,191 (4,431)(850)(9,502)Net unrealized (gains) losses on commercial loans— (27)— (49)Stock compensation expense296 630 533 1,260 Distributable Earnings$2,639 $(2,301)$6,782 $519 

Distributable Earnings Return on Average Equity

Distributable Earnings Return on Average Equity is a non-GAAP measure and is defined as annual or annualized Distributable Earnings divided by average total stockholders’ equity. We believe that the presentation of Distributable Earnings Return on Average Equity provides investors with a useful measure to facilitate comparisons of financial performance among our REIT peers, but has important limitations. Additionally, we believe Distributable Earnings Return on Average Equity provides investors with additional detail on the Distributable Earnings generated by our invested equity capital. We believe Distributable Earnings Return on Average Equity as described above helps evaluate our financial performance without the impact of certain transactions but is of limited usefulness as an analytical tool. Therefore, Distributable Earnings Return on Average Equity should not be viewed in isolation and is not a substitute for net income computed in accordance with GAAP. Our methodology for calculating Distributable Earnings Return on Average Equity may differ from the methodologies employed by other REITs to calculate the same or similar supplemental performance measures, and as a result, our Distributable Earnings Return on Average Equity may not be comparable to similar measures presented by other REITs. Set forth below is our computation of Distributable