---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-26-013198"
form_type: "8-K"
ticker: "ORC"
cik: "0001518621"
company_name: "Orchid Island Capital, Inc."
filed_at: "2026-04-23T23:59:59+00:00"
generated_at: "2026-05-15T04:31:14.765488+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Orchid Island Capital reports Q1 net loss of $20.0M; book value down $0.46 per share

## Summary
- Net loss of $20.0M ($0.11 diluted EPS); net interest income of $57.1M ($0.30/share).
- Net realized/unrealized losses of $69.6M on RMBS and derivatives, driven by Middle East war onset.
- Book value per share fell to $7.08 from $7.54; dividend declared $0.36/share for Q1.
- Issued 14.6M shares in Q1 under ATM for $109.5M gross; additional 4M shares post-quarter for $28.2M.
- Liquidity of $759M; adjusted leverage ratio 7.8x; management cites war impact but sees attractive returns ahead.

## SEC filing metadata
- accession: 0001437749-26-013198
- form_type: 8-K
- ticker: ORC
- cik: 0001518621
- company_name: Orchid Island Capital, Inc.
- filed_at: 2026-04-23T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1518621/000143774926013198/0001437749-26-013198-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1518621/000143774926013198/orc20260401_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-26-013198
- JSON: https://secwatch.observer/filing/0001437749-26-013198.json
- Plain text: https://secwatch.observer/filing/0001437749-26-013198.txt

## Key facts
- Earnings Releases
  Orchid Island Capital, Inc. reported three month period ended March 31, 2026 results: revenue $57.1 million, net income $(20.0) million, EPS $(0.11) per common share.
  - Period: three month period ended March 31, 2026
  - Revenue: $57.1 million
  - Net income: $(20.0) million
  - EPS: $(0.11) per common share
  - Result: reported results
  source text: the three month period ended March 31, 2026 . First Quarter 2026 Results ● Net loss of $(20.0) million , or $0.11 per common share, which consists of: ● Net interest income of $57.1 million , or $0.30 per common share ● Total expenses of $7.4 million , or $0.04 per common share ● Net realized and unrealized losses of $69.6 million , or $0.37 per common share, on
  evidence_url: https://www.sec.gov/Archives/edgar/data/1518621/000143774926013198/0001437749-26-013198-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.