Financial Data and Key Metrics Changes - First quarter GAAP earnings per common share were $0.47, while distributable earnings were a loss of $0.09 per common share [15] - Net interest income declined to $14.6 million, primarily due to non-core assets moving to nonaccrual status, generating a cash yield of 1.3% [15] - Book value per share remained flat at $10.61, with total leverage declining to 3.5 times [18] Business Line Data and Key Metrics Changes - The total CRE loan portfolio was bifurcated into $5.9 billion core loans and $1.2 billion non-core loans, with a 5% decline in the core portfolio due to payoffs [7][8] - The core portfolio generated a levered yield of 10.2%, resulting in $43.4 million of net interest income, with 80% being current pay [10] - The non-core portfolio was reduced by 6% to $740 million, with expectations to further reduce it to approximately $270 million in the second quarter [10] Market Data and Key Metrics Changes - The multifamily sector showed resilience, with a 1% increase in rents in Q1 2025 despite macroeconomic pressures [5] - The twelve-month default rate for the SBA business was 3.2%, slightly better than the industry average of 3.4% [12] - The company anticipates SBA volume to be below $1.5 billion in 2025 due to current capital constraints and policy changes [13][52] Company Strategy and Development Direction - The company initiated a balance sheet repositioning plan in Q4 2024, focusing on liquidating non-core assets to reinvest in the core portfolio [14] - The strategy aims to restore net interest margin (NIM) to peer group levels by 2026, assuming stable macroeconomic conditions [14] - The company remains committed to supporting the Portland mixed-use asset project, which is expected to stabilize over time [11][42] Management's Comments on Operating Environment and Future Outlook - Management noted that the recovery in the commercial real estate (CRE) market has been affected by tariffs and recession risks, but the multifamily sector remains strong [5] - The company expects to maintain its current dividend level until the earnings profile warrants an increase [14] - Management expressed confidence in navigating the shifting policy landscape in the SBA business, despite potential short-term volume declines [12][50] Other Important Information - The company completed the UDF merger, resulting in a bargain purchase gain of $102.5 million, which added $167.1 million of equity to the balance sheet [17] - Liquidity remains healthy with unrestricted cash exceeding $200 million and $1 billion of total unencumbered assets [20] Q&A Session Summary Question: Impact of April's volatility on non-core book expectations - Management indicated that ongoing conversations with various parties regarding liquidations are progressing well, and they do not expect significant impact from April's volatility [23][24] Question: Near-term expectations for distributable earnings trajectory - Management expects the second quarter earnings profile to be similar to Q1, with upward movement anticipated post-reinvestment of equity [30] Question: Current views on share repurchases - Management is balancing the benefits of share repurchases with upcoming debt maturities and the need to reestablish net interest income [31] Question: Catalyst for CLO interest coverage issues - Management noted that elevated rates are impacting NOIs, leading to increased modifications in the portfolio [38] Question: Status of the Portland asset and stabilization timeline - The Portland asset is currently levered, and management plans to stabilize and sequentially exit its components over the next few years [42][45] Question: Expected moderation in SBA volumes - Management anticipates SBA volumes to be below $1.5 billion for at least a couple of quarters due to policy changes and administrative delays [52] Question: Freddie Mac business outlook - Management reported a decrease in Freddie Mac volume due to tightened processes and competition from banks and credit unions [56]

Financial Data and Key Metrics Changes - First quarter GAAP earnings per common share were $0.47 while distributable earnings were a loss of $0.09 per common share [15] - Net interest income declined to $14.6 million, primarily due to the movement of non-core assets to nonaccrual status [15] - Book value per share remained flat at $10.61, with total leverage declining to 3.5 times [18] Business Line Data and Key Metrics Changes - The total CRE loan portfolio was bifurcated into $5.9 billion core loans and $1.2 billion non-core loans [7] - Core portfolio payoffs resulted in a 5% decline to $5.9 billion, with 78% concentration in multifamily [8] - Non-core portfolio was reduced by 6% to $740 million, with expectations to further reduce it to approximately $270 million in the second quarter [10] Market Data and Key Metrics Changes - The multifamily sector showed resilience with a 1% increase in rents in Q1 2025 despite macroeconomic pressures [5] - The twelve-month default rate for the SBA business was 3.2%, slightly better than the industry average of 3.4% [12] - Freddie Mac volume was down in Q1 due to tightened processes, with a more robust pipeline expected in Q2 [58] Company Strategy and Development Direction - The company initiated a balance sheet repositioning plan in Q4 2024, focusing on liquidating non-core assets to reinvest in the core portfolio [14] - The strategy aims to restore net interest margin (NIM) to peer group levels by 2025, with accretion expected in 2026 [14] - The company remains committed to supporting the Portland mixed-use asset project, aiming for stabilization and eventual exit of components [11][43] Management's Comments on Operating Environment and Future Outlook - Management noted that the recovery in the commercial real estate (CRE) market is affected by tariffs and recession risks, but the multifamily sector remains strong [5] - The company expects to maintain its current dividend level until the earnings profile warrants an increase [14] - Management expressed confidence in navigating the shifting policy landscape in the SBA business, despite anticipated moderation in volume [12][51] Other Important Information - The company completed the UDF merger, generating a bargain purchase gain of $102.5 million, which added $167.1 million of equity to the balance sheet [17] - Liquidity remains healthy with unrestricted cash over $200 million and $1 billion of total unencumbered assets [20] Q&A Session Summary Question: Impact of April's volatility on non-core book expectations - Management indicated that ongoing conversations with various parties are progressing well and do not expect material diversion from pricing or timing expectations [23][24] Question: Near-term expectations for distributable earnings trajectory - Management highlighted that the repositioning of assets is a key catalyst for future earnings improvement, with expectations for a gradual upward trend post-liquidation [30] Question: Current views on share repurchases versus liquidity - Management is balancing the benefits of share repurchases with the need to maintain liquidity given upcoming debt maturities [31] Question: Catalyst for CLO interest coverage issues - Management noted that elevated rates are impacting NOIs, leading to increased modifications and stress within CLOs [39] Question: Status of the Portland asset and future plans - Management confirmed that the asset is currently levered and will remain so, with plans to stabilize and sequentially exit components as they improve [43][44] Question: Expected moderation in SBA volumes - Management anticipates SBA volumes to be below the $1.5 billion mark for at least a couple of quarters due to policy changes and administrative delays [52]

Financial Data and Key Metrics Changes - First quarter GAAP earnings per common share were $0.47 while distributable earnings were a loss of $0.09 per common share [13] - Net interest income declined to $14.6 million in the quarter, primarily due to non-core assets moving to nonaccrual status [13] - Book value per share remained flat at $10.61, with total leverage declining to 3.5 times [17] Business Line Data and Key Metrics Changes - The total CRE loan portfolio was bifurcated into $5.9 billion core loans and $1.2 billion non-core loans, with a 5% decline in the core portfolio [6] - The core portfolio generated a levered yield of 10.2%, resulting in $43.4 million of net interest income [8] - Non-core portfolio liquidations surpassed targets by close to 2x, generating $28 million of liquidity [8] Market Data and Key Metrics Changes - The multifamily sector showed resilience with a 1% increase in rents in Q1 2025, despite macroeconomic pressures [4] - The twelve-month default rate for the company was 3.2%, slightly better than the industry average of 3.4% [10] - The SBA business experienced high volumes at $343 million, although moderation is anticipated [10] Company Strategy and Development Direction - The company initiated a balance sheet repositioning plan in Q4 2024, focusing on liquidating non-core assets to reinvest in the core portfolio [12] - The strategy aims to restore net interest margin (NIM) to peer group levels by the end of 2025, with accretion expected in 2026 [12] - The company remains committed to supporting the Portland mixed-use asset project, aiming for stabilization and eventual exit [9][44] Management's Comments on Operating Environment and Future Outlook - Management noted that the macro environment remains challenging, but the multifamily sector is benefiting from excess demand [4][25] - The company expects to maintain its current dividend level until the earnings profile warrants an increase [12] - Future earnings trajectory is expected to improve post-liquidation of non-core assets and reinvestment into the core portfolio [31] Other Important Information - The company completed the UDF merger, resulting in a bargain purchase gain of $102.5 million, adding $167.1 million of equity to the balance sheet [16] - Liquidity remains healthy with unrestricted cash over $200 million and $1 billion of total unencumbered assets [19] Q&A Session Summary Question: Impact of April's volatility on non-core book expectations - Management indicated that ongoing conversations with various parties are progressing well and do not expect significant impact from April's volatility [22][24] Question: Near-term expectations for distributable earnings trajectory - Management expects the second quarter earnings profile to be similar to Q1, with improvements anticipated post-reinvestment of equity [28][31] Question: Current views on share repurchases - Management is evaluating share repurchases against liquidity needs and upcoming debt maturities, indicating confidence in accessing capital markets [32][35] Question: Catalyst for CLO interest coverage issues - Management noted that elevated rates are impacting NOIs, leading to increased modifications in the portfolio [40] Question: Status of the Portland asset and future plans - The asset will remain levered, with plans to stabilize and sequentially exit components as they improve [43][44] Question: Expected moderation in SBA volumes - Management anticipates SBA volumes to be below $1.5 billion for the next few quarters due to policy changes and staffing issues at the SBA [52][54]

Financial Performance - Net income from continuing operations was $0.47 per common share[5] - Distributable losses were $(0.09) per common share[5] - Distributable earnings before realized losses were $0.00 per common share[5] - A dividend of $0.125 per common share was declared[5] Loan Portfolio - The total loan portfolio was $8.4 billion[5] - The weighted average yield in the $5.9 billion CRE core portfolio was 8.3%[5] - Total loan originations amounted to $466.1 million[5] - Loan repayments and sales totaled $758.2 million[5] - Core delinquencies (60+ days) stood at 4.1%[5] Capitalization & Acquisitions - 3.4 million shares were repurchased at an average price of $5.02, impacting book value per share by $0.11[5] - Total leverage was 3.5x, with a recourse leverage ratio of 1.3x[5] - The acquisition of United Development Funding IV was closed for $167 million, which was $0.14 per share accretive to book value per share[5] Portfolio Composition - The carrying value of the Core portfolio is $5.88 billion with 4.1% being 60+ days delinquent[7] - The carrying value of the Non-Core portfolio is $0.74 billion with 40.9% being 60+ days delinquent[7]

Core Insights - Ready Capital reported a significant decline in revenue and earnings for the quarter ended March 2025, with revenue at $14.5 million, down 70.1% year-over-year, and EPS at $0.00 compared to $0.29 in the same quarter last year [1] - The revenue fell short of the Zacks Consensus Estimate of $55.4 million by 73.83%, and the EPS also missed the consensus estimate of $0.12 by 100% [1] Financial Performance Metrics - Total non-interest income was reported at a loss of $25.74 million, which is a 125.1% decline year-over-year and below the average estimate of $35.17 million [4] - Net realized gain on financial instruments and real estate owned was $10.67 million, compared to the average estimate of $20.03 million [4] - Interest income was reported at $154.97 million, down 33.3% from the previous year and below the estimated $213.17 million [4] - Income from unconsolidated joint ventures showed a loss of $3.98 million, contrasting with the average estimate of $3.08 million [4] - Other income was reported at $11.59 million, which is a 24.6% decrease year-over-year and below the average estimate of $14.74 million [4] - Servicing income, net, increased to $6.46 million, exceeding the average estimate of $4.42 million, representing a year-over-year increase of 71.8% [4] - The net unrealized loss on financial instruments was reported at -$1.75 million, better than the average estimate of -$6.02 million [4] Stock Performance - Over the past month, Ready Capital's shares have returned -8.9%, while the Zacks S&P 500 composite has increased by 11.3% [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating it may perform in line with the broader market in the near term [3]

Core Viewpoint - Ready Capital (RC) reported break-even quarterly earnings per share, missing the Zacks Consensus Estimate of $0.12, and showing a significant decline from $0.29 per share a year ago, resulting in an earnings surprise of -100% [1][2] Financial Performance - The company posted revenues of $14.5 million for the quarter ended March 2025, missing the Zacks Consensus Estimate by 73.83%, and a significant drop from year-ago revenues of $48.55 million [2] - Over the last four quarters, Ready Capital has surpassed consensus EPS estimates two times but has not beaten consensus revenue estimates [2] Stock Performance - Ready Capital shares have declined approximately 35.3% since the beginning of the year, contrasting with the S&P 500's decline of -4.3% [3] - The current consensus EPS estimate for the upcoming quarter is $0.14 on revenues of $57.73 million, and for the current fiscal year, it is $0.65 on revenues of $241.85 million [7] Industry Outlook - The REIT and Equity Trust industry, to which Ready Capital belongs, is currently ranked in the bottom 37% of over 250 Zacks industries, indicating potential challenges ahead [8] - Empirical research suggests a strong correlation between near-term stock movements and trends in earnings estimate revisions, which could impact Ready Capital's stock performance [5][6]

Core Insights - Ready Capital Corporation reported a GAAP earnings per common share from continuing operations of $0.47 for the quarter ended March 31, 2025, compared to a loss of $(0.45) in the same period last year [1][22] - The company experienced a distributable loss per common share of $(0.09) and distributable earnings per common share before realized losses of $0.00 [1][22] - The company is facing challenges due to market volatility, tariff implementations, declining consumer confidence, and increased recession expectations, but is taking decisive actions to restore profitability [2] Financial Performance - For the first quarter of 2025, Ready Capital reported net income of $81.965 million, a significant improvement from a net loss of $(74.167) million in the same period last year [21][22] - Interest income decreased to $154.967 million from $232.354 million year-over-year, while interest expense also decreased to $(140.466) million from $(183.805) million [21] - The net interest income after recovery of loan losses was $124.069 million, compared to $75.093 million in the previous year [21] Balance Sheet Highlights - As of March 31, 2025, total assets were $9.976 billion, a decrease from $10.142 billion at the end of 2024 [19][20] - Cash and cash equivalents increased to $205.917 million from $143.803 million [19] - Total liabilities decreased to $7.927 billion from $8.198 billion [19][20] Segment Performance - LMM commercial real estate originations amounted to $79 million, while Small Business Lending (SBL) loan originations were $387 million, including $343 million of Small Business Administration 7(a) loans [6] - The company declared and paid a dividend of $0.125 per share in cash [6][22] Subsequent Events - On April 16, 2025, ReadyCap Holdings issued an additional $50 million in aggregate principal amount of its 9.375% Senior Secured Notes due 2028, using the net proceeds to repay indebtedness [3]

Exhibit 99.1 READY CAPITAL CORPORATION REPORTS FIRST QUARTER 2025 RESULTS Use of Non-GAAP Financial Information In addition to the results presented in accordance with U.S. GAAP, this press release includes distributable earnings, formerly referred to as core earnings, which is a non-U.S. GAAP financial measure. The Company defines distributable earnings as net income adjusted for unrealized gains and losses related to certain mortgage backed securities ("MBS") not retained by us as part of our loan origina ...

NEW YORK, May 05, 2025 (GLOBE NEWSWIRE) -- Levi & Korsinsky, LLP notifies investors in Ready Capital Corporation ("Ready Capital" or the "Company") (NYSE: RC) of a class action securities lawsuit. CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of Ready Capital investors who were adversely affected by alleged securities fraud between August 8, 2024 and March 2, 2025. Follow the link below to get more information and be contacted by a member of our team: https://zlk.com/pslra-1/ready-capital- ...

Core Viewpoint - Ready Capital (RC) is positioned to continue its earnings-beat streak, having surpassed earnings estimates consistently in recent quarters [1][5]. Earnings Performance - In the last reported quarter, Ready Capital achieved earnings of $0.23 per share, exceeding the Zacks Consensus Estimate of $0.21 per share, resulting in a surprise of 9.52% [2]. - In the previous quarter, the company was expected to report earnings of $0.23 per share but delivered $0.25 per share, leading to a surprise of 8.70% [2]. Earnings Estimates and Predictions - Estimates for Ready Capital have been trending higher, influenced by its history of earnings surprises [5]. - The stock has a positive Zacks Earnings ESP of +8.33%, indicating that analysts have recently become more optimistic about the company's earnings prospects [8]. - The combination of a positive Earnings ESP and a Zacks Rank of 3 (Hold) suggests a strong possibility of another earnings beat in the upcoming report [8]. Statistical Insights - Research indicates that stocks with a positive Earnings ESP and a Zacks Rank of 3 or better have a nearly 70% chance of producing a positive surprise [6]. - The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate, with the Most Accurate Estimate reflecting the latest analyst revisions [7].