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

Core Insights - Wilmington Capital Management Inc. reported a net loss of $0.2 million for Q3 2025 and $0.6 million for the year-to-date, compared to a net loss of $0.01 million and net income of $1.2 million for the same periods in 2024 [2][8] - The company has successfully implemented a monetization plan to unlock value from its investments, aiming to distribute capital to shareholders and simplify its business operations [3] - A leadership transition is underway, with key executives stepping down at the end of 2025, and Andrew Cockwell appointed as interim Chairman [4][5] Financial Performance - For the three months ended September 30, 2025, management fee revenue was $0, while interest, distributions, and other income totaled $268,000, down from $315,000 in 2024 [7] - Total expenses for Q3 2025 were $514,000, compared to $448,000 in Q3 2024, with general and administrative expenses increasing to $506,000 from $440,000 [7] - The total comprehensive loss for Q3 2025 was $375,000, compared to a comprehensive income of $57,000 in Q3 2024 [8] Balance Sheet Overview - As of September 30, 2025, total assets were $36.1 million, down from $38.7 million at the end of 2024 [9] - Current assets included cash of $33.9 million, a decrease from $36.3 million in December 2024 [9] - Total liabilities were significantly reduced to $691,000 from $2.5 million at the end of 2024, indicating improved financial health [9] Management and Strategic Direction - The leadership transition is part of a broader strategy to ensure the company remains dynamic and successful in the future [4][5] - The company has historically focused on alternative asset classes for long-term capital appreciation rather than current income [6] - The management team has been recognized for their contributions to building unique investment platforms and delivering strong financial performance [4]