In millions, except per share items | Jun-30-23 | Mar-31-23 | Dec-31-22 | Sep-30-22 | Jun-30-22 | Mar-31-22 | Dec-31-21 | Sep-30-21 |
| 10-Q | 10-Q | 8-K | 10-Q | 10-Q | 10-Q | 10-K | 10-Q |
Interest income: | | | | | | | | |
Loans held-for-investment | 66.2 | 65.3 | 60.0 | 52.1 | 49.1 | 47.3 | 46.2 | 48.3 |
Cash and cash equivalents | 2.6 | 1.4 | 1.4 | 0.7 | 0.2 | 0.0 | 0.0 | 0.1 |
Total interest income | 68.8 | 66.7 | 61.4 | 52.8 | 49.3 | 47.3 | 46.3 | 48.4 |
|
Interest expense: | | | | | | | | |
Repurchase facilities | 22.9 | 19.8 | 19.0 | 15.1 | 10.4 | 5.0 | 5.5 | 5.5 |
Secured credit facility | 3.1 | 2.9 | | | | | | |
Securitized debt obligations | 17.9 | 18.1 | 16.6 | 14.4 | 10.8 | 9.7 | 9.4 | 8.8 |
|
Convertible senior notes | | | | | | | | |
Term financing facility | | | | | -0.3 | -1.4 | -1.4 | -1.5 |
Asset-specific financings | 0.8 | 0.7 | 0.6 | 0.4 | 0.3 | 0.3 | 0.3 | 0.4 |
Senior secured term loan facilities | | | | | 0.9 | 2.9 | | 5.7 |
Total interest expense | | | | | 0.3 | 1.4 | 1.4 | 1.5 |
Net interest income | 21.8 | 22.9 | | 18.3 | 21.9 | 23.5 | -1.4 | 22.1 |
|
Other (loss) income: | | | | | | | | |
Revenue from real estate owned operations | 0.5 | | | | | | | |
Provision for credit losses | -5.8 | -46.4 | | | -13.6 | -3.7 | | |
Gain (loss) on extinguishment of debt | | 0.2 | | | -13.0 | -5.8 | -8.9 | |
Fee income | | | | | 0.5 | 0.5 | | |
Total other (loss) income | -5.4 | -46.2 | | -35.4 | -26.2 | -9.0 | -4.0 | 5.8 |
|
Expenses: | | | | | | | | |
Compensation and benefits | 6.2 | 5.9 | | 5.0 | 5.8 | 5.8 | 5.4 | 5.6 |
Servicing expenses | 1.3 | 1.4 | 1.4 | 1.3 | 1.5 | 1.5 | 1.4 | 1.3 |
Expenses from real estate owned operations | 1.7 | | | | | | | |
Other operating expenses | 2.2 | 3.3 | | 2.1 | 2.2 | 2.6 | 1.7 | 2.3 |
Total expenses | 11.4 | 10.6 | 9.0 | 8.4 | 9.5 | 9.9 | 8.4 | 9.2 |
Income (loss) before income taxes | 5.1 | -33.8 | | -25.5 | -13.7 | 4.6 | 7.7 | 18.6 |
Provision for (benefit from) income taxes | 0.1 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.2 | 0.0 |
Net income (loss) | 5.0 | -33.8 | -6.2 | -25.5 | -13.7 | 4.6 | 7.5 | 18.6 |
Dividends on preferred stock | 3.6 | 3.6 | 3.6 | 3.6 | 3.6 | 3.6 | 0.7 | 0.0 |
Net income (loss) attributable to common stockholders | 1.4 | -37.5 | -9.9 | -29.1 | -17.4 | 1.0 | 6.7 | 18.6 |
Net income (loss) attributable to common stockholders - diluted | 1.4 | -37.5 | -9.9 | -29.1 | -17.4 | 1.0 | 6.7 | 18.6 |
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Basic earnings (loss) per weighted average common share (in usd per share) | $0.03 | ($0.72) | ($0.19) | ($0.56) | ($0.32) | $0.02 | $0.13 | $0.34 |
Diluted earnings (loss) per weighted average common share (in usd per share) | $0.03 | ($0.72) | ($0.19) | ($0.56) | ($0.32) | $0.02 | $0.18 | $0.33 |
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Weighted average number of shares of common stock outstanding: | | | | | | | | |
Basic (in shares) | 51.5 | 52.3 | 52.4 | 52.4 | 53.5 | 53.9 | 54.6 | 54.5 |
Diluted (in shares) | 51.6 | 52.3 | 52.4 | 52.4 | 53.5 | 54.0 | 54.9 | 56.7 |
Net income (loss) attributable to common stockholders | 1.4 | -37.5 | -9.9 | -29.1 | -17.4 | 1.0 | 6.7 | 18.6 |
|
Comprehensive income (loss) | | | | | | | | |
Comprehensive income (loss) | 1.4 | -37.5 | | | -17.4 | 1.0 | 6.7 | |