Redwood Trust Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	2015 - 2019
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020	2015 - 2019
Interest and Dividend Income	1,122	945.16	724.46	707.85	574.93	571.92	Upgrade
Total Interest Expense	1,050	854.56	637.52	557.4	427.75	448.01	Upgrade
Net Interest Income	72.38	90.61	86.94	150.45	147.18	123.91	Upgrade
Mortgage Banking	140.39	99.4	67.39	-13.66	235.74	78.47	Upgrade
Gain (Loss) on Sale of Investments	-92.81	51.07	-1.28	-170.56	146.14	-583.8	Upgrade
Other Revenue	0.94	1.42	5.55	11.66	10.54	63.38	Upgrade
Revenue Before Loan Losses	120.9	242.5	158.6	-22.1	539.6	-318.03	Upgrade
Revenue	120.9	242.5	158.6	-22.1	539.6	-318.03	Upgrade
Revenue Growth (YoY)	-55.02%	52.90%	-	-	-	-	Upgrade
Salaries & Employee Benefits	20.47	25.03	24.85	23.1	19.94	12.44	Upgrade
Cost of Services Provided	171.12	142.96	123.18	130.52	163.44	108.94	Upgrade
Other Operating Expenses	2.53	-0.33	9.21	0.71	14.32	53.52	Upgrade
Total Operating Expenses	194.13	167.66	157.24	154.34	197.7	174.9	Upgrade
Operating Income	-73.23	74.84	1.36	-176.44	341.9	-492.93	Upgrade
EBT Excluding Unusual Items	-73.23	74.84	1.36	-176.44	341.9	-492.93	Upgrade
Impairment of Goodwill	-	-	-	-	-	-88.68	Upgrade
Other Unusual Items	-	-2	-2	-7	-	-	Upgrade
Pretax Income	-73.23	72.84	-0.64	-183.44	338.09	-586.46	Upgrade
Income Tax Expense	23.44	18.84	1.64	-19.92	18.48	-4.61	Upgrade
Net Income	-96.67	54	-2.27	-163.52	319.61	-581.85	Upgrade
Preferred Dividends & Other Adjustments	12.48	11.41	10.68	4.34	10.64	1.99	Upgrade
Net Income to Common	-109.14	42.6	-12.96	-167.86	308.98	-583.84	Upgrade
Shares Outstanding (Basic)	132	132	116	117	113	114	Upgrade
Shares Outstanding (Diluted)	132	132	116	117	142	114	Upgrade
Shares Change (YoY)	1.74%	13.64%	-0.81%	-17.49%	24.69%	-16.70%	Upgrade
EPS (Basic)	-0.83	0.32	-0.11	-1.43	2.73	-5.12	Upgrade
EPS (Diluted)	-0.84	0.32	-0.11	-1.43	2.37	-5.12	Upgrade
Dividend Per Share	0.720	0.670	0.710	0.920	0.780	0.725	Upgrade
Dividend Growth	10.77%	-5.63%	-22.83%	17.95%	7.59%	-39.58%	Upgrade
Operating Margin	-60.57%	30.86%	0.86%	-	63.36%	-	Upgrade
Profit Margin	-90.28%	17.57%	-8.17%	-	57.26%	-	Upgrade
Effective Tax Rate	-	25.86%	-	-	5.46%	-	Upgrade

Source: S&P Global Market Intelligence. Financial Services template. Financial Sources.