Manhattan Bridge Capital Reports Q3 2026 Revenue Increase but Year-to-Date Decline

Manhattan Bridge Capital, Inc. reported its financial results for the third quarter and nine months ended September 30, 2026, revealing a slight increase in quarterly revenue but a decline in year-to-date figures compared to the previous fiscal period. For the three months ended September 30, 2026, total revenue reached approximately $2.05 million, a marginal increase of 0.9% from $2.04 million in the same period of 2025. However, for the nine months ended September 30, 2026, revenue decreased by 7.5% to approximately $6.17 million from $6.67 million in the prior year. The decline in year-to-date revenue was attributed to lower interest income and origination fees due to increased competition in the marketplace.

The company's net income for the third quarter of 2026 was approximately $1.24 million, reflecting a 3.0% increase from $1.20 million in the same quarter of 2025. For the nine-month period, net income decreased by 8.1% to approximately $3.67 million from $3.99 million in the previous year. The increase in quarterly net income was primarily driven by lower interest expenses and higher origination fee income, while the decline in year-to-date net income was linked to reduced revenues and increased general and administrative expenses.

Operationally, Manhattan Bridge Capital continues to focus on its core business of providing short-term, secured loans to real estate investors in the New York metropolitan area and Florida. As of September 30, 2026, the company had outstanding loans receivable totaling approximately $60.07 million, a slight decrease from $60.67 million at the end of 2025. The company reported that it was committed to $4.88 million in construction loans that could be drawn by borrowers when certain conditions are met. The company also noted that one borrower with an outstanding principal balance of approximately $935,000 was in default, prompting the initiation of foreclosure proceedings.

In terms of liquidity, Manhattan Bridge Capital had cash of approximately $168,000 as of September 30, 2026, down from approximately $205,000 at the end of 2025. The company generated approximately $4.03 million in net cash from operating activities during the nine months ended September 30, 2026, compared to $3.81 million in the same period of 2025. The company also reported net cash used in financing activities of approximately $4.68 million, a decrease from $11.32 million in the prior year, primarily due to lower repayments on lines of credit and dividend payments.

Looking ahead, Manhattan Bridge Capital remains optimistic about its growth prospects, citing favorable market conditions for originating high-quality first mortgage loans. The company plans to continue selectively funding loans secured by real estate while managing its portfolio to generate attractive risk-adjusted returns. The board of directors recently approved an amendment to its share repurchase program, increasing the number of shares authorized for repurchase from 100,000 to 250,000, reflecting the company's commitment to returning value to shareholders.