RCB (Ready Capital Corporation) Stock Financials & Earnings | Market Cap Arena

RCB (Ready Capital Corporation) Stock Financials & Earnings | Market Cap Arena

RCBReady Capital Corporation

Mkt Cap$60B

Real Estate·REIT - Mortgage·🇺🇸 United States·NYSE

Revenue (TTM)$2M

Net Income (TTM)-$237M

EPS (TTM)-$1.47

Free Cash Flow (TTM)-$148M

Gross Margin-520.8%

Op. Margin-10181.7%

Net Margin-11175.0%

FCF Margin-6977.0%

P/S Ratio (TTM)28349.7x

P/E Ratio (TTM)—

YoY Rev Growth-99.4%

Employees—

Earnings Reports

Revenue & Profitability

Quarter	Revenue	Gross Profit	Op. Income
Q1 23	$44M	$58M	-$128M
Q2 23	$302M	$270M	$233M
Q3 23	$308M	$122M	$81M
Q4 23	$321M	$297M	$232M
Q1 24	-$30M	-$30M	-$68M
Q2 24	$3M	$3M	-$33M
Q3 24	$178M	$145M	-$7M
Q4 24	$211M	-$502M	-$450M
Q1 25	$42M	$42M	$3M
Q2 25	-$12M	-$12M	-$53M
Q3 25	-$623K	-$41M	$70M
Q4 25	-$27M	$0	-$235M

Valuation

Quarter	P/S	P/E
Q1 23	138.8x	—
Q2 23	87.9x	381.7x
Q3 23	65.8x	445.2x
Q4 23	61.7x	177.2x
Q1 24	66.7x	264.6x
Q2 24	100.0x	—
Q3 24	127.6x	—
Q4 24	166.5x	—
Q1 25	138.8x	—
Q2 25	143.6x	—
Q3 25	250.2x	—
Q4 25	28349.7x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 23	-$14M	-$14M
Q2 23	$29M	$301M
Q3 23	$61M	$61M
Q4 23	$1M	$206M
Q1 24	$12M	$12M
Q2 24	-$36M	-$36M
Q3 24	-$352K	-$352K
Q4 24	-$26M	-$26M
Q1 25	$19M	$19M
Q2 25	-$61M	-$61M
Q3 25	-$71M	-$71M
Q4 25	-$35M	-$35M

Capital Expenditures

CapEx

Quarter	CapEx
Q1 23	$0
Q2 23	$272M
Q3 23	$0
Q4 23	$205M
Q1 24	$0
Q2 24	$0
Q3 24	$0
Q4 24	$0
Q1 25	$0
Q2 25	$0
Q3 25	$0
Q4 25	$0

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 23	-49.8%	+383.1%
Q2 23	+494.7%	+168.1%
Q3 23	+292.3%	+307.0%
Q4 23	+23.6%	-88.1%
Q1 24	-168.1%	-78.1%
Q2 24	-99.2%	-48.1%
Q3 24	-42.3%	-18.4%
Q4 24	-34.3%	+641.9%
Q1 25	+240.1%	+3.3%
Q2 25	-576.1%	+16.4%
Q3 25	-100.4%	-138.0%
Q4 25	-112.9%	-68.5%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 23	$0	0.0%
Q2 23	$2M	0.7%
Q3 23	$0	0.0%
Q4 23	$1M	0.4%
Q1 24	$0	—
Q2 24	$0	0.0%
Q3 24	$0	0.0%
Q4 24	$0	0.0%
Q1 25	$0	0.0%
Q2 25	$0	—
Q3 25	$2M	—
Q4 25	$797K	—

OpEx Breakdown

Quarter	R&D	G&A	S&M
Q1 23	$2M	$6M	—
Q2 23	$2M	$11M	$459K
Q3 23	$2M	$15M	$610K
Q4 23	$2M	$23M	$261K
Q1 24	$3M	$14M	$399K
Q2 24	$2M	$12M	$350K
Q3 24	$5M	$24M	$749K
Q4 24	$10M	$23M	$506K
Q1 25	$3M	$11M	$363K
Q2 25	$3M	$11M	$340K
Q3 25	—	$6M	—
Q4 25	—	$13M	—

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 23	$161M	$0	$161M
Q2 23	$262M	$0	$262M
Q3 23	$218M	$0	$218M
Q4 23	$169M	$0	$169M
Q1 24	$191M	$0	$191M
Q2 24	$226M	$0	$226M
Q3 24	$181M	$0	$181M
Q4 24	$144M	$0	$144M
Q1 25	$246M	$0	$246M
Q2 25	$163M	$0	$163M
Q3 25	$192M	$0	$192M
Q4 25	$0	$0	$0

Shares Outstanding

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change
Q1 23	121M	-0.0%
Q2 23	142M	+17.0%
Q3 23	174M	+23.2%
Q4 23	172M	-1.3%
Q1 24	172M	-0.0%
Q2 24	170M	-1.3%
Q3 24	168M	-0.9%
Q4 24	170M	+1.3%
Q1 25	168M	-1.6%
Q2 25	171M	+1.8%
Q3 25	168M	-1.7%
Q4 25	164M	-2.0%

Revenue Per Employee

Revenue / Employee

Year	Revenue/Employee	Employees
FY 14	$346K	216
FY 15	$686K	246
FY 16	$3M	56
FY 17	$4M	68
FY 18	$4M	80
FY 19	$4M	95
FY 20	$7M	85
FY 21	$7M	105
FY 22	$4M	100
FY 23	$1M	374
FY 24	$2M	475
FY 25	$93K	500