Wilmington Capital Management Inc. Reports Second Quarter and Year to Date 2025 Results

Core Viewpoint - Wilmington Capital Management Inc. reported a net loss for Q2 2025, indicating a significant decline in financial performance compared to the same period in 2024, while also outlining strategic steps to monetize investments and enhance shareholder value [2][3][4]. Financial Performance - For Q2 2025, Wilmington reported a net loss of $0.3 million or ($0.02) per share, compared to a net loss of $0.01 million or ($0.01) per share in Q2 2024 [2]. - For the six months ended June 30, 2025, the net loss was $0.4 million or ($0.03) per share, contrasting with a net income of $1.2 million or $0.09 per share for the same period in 2024 [2]. - Management fee revenue was absent in 2025, while it was $0.26 million in Q2 2024 and $0.40 million for the first half of 2024 [6]. - Interest, distributions, and other income decreased from $0.54 million in Q2 2024 to $0.27 million in Q2 2025 [6]. Operational Update - As of June 30, 2025, Wilmington had approximately $34 million in cash and an 18% ownership interest in Bay Moorings Marina Holdings Limited Partnership, which is redeveloping land into residential sites and a condominium [3]. - The company is actively reviewing alternatives to provide liquidity to shareholders and maximize the value of its public platform [4]. Balance Sheet Overview - Total assets as of June 30, 2025, were $36.52 million, down from $38.69 million at the end of 2024 [9]. - Shareholders' equity remained stable at $35.62 million, while retained earnings decreased to $(0.023) million from $0.418 million at the end of 2024 [9].