Armour Residential REIT, Inc. (ARR) Financial Statements

Income statement

Metric	TTM	2025	2024	2023	2022
Revenue
Total Revenue	890.1M	1.3B	239.9M	449.7M	(878.0M)
Cost of Revenue	48.1M	38.9M	33.1M	31.6M	26.0M
Gross Profit	842.0M	1.3B	206.8M	418.1M	(903.9M)
Operating Expenses
R&D Expense	—	—	—	—	—
SG&A Expense	16.0M	—	37.9M	36.5M	31.5M
General & Admin Expense	16.0M	—	33.1M	31.6M	26.0M
Selling & Marketing Expense	—	—	4.7M	4.9M	5.5M
Other Expenses	(172.1M)	301.6M	(340.9M)	(76.3M)	(830.4M)
Total Operating Expenses	(156.1M)	301.6M	(303.0M)	(39.8M)	(799.0M)
Cost and Expenses	(108.0M)	340.5M	(269.9M)	(8.2M)	(773.0M)
Operating Income (EBIT)	998.1M	964.8M	509.8M	457.9M	(105.0M)
Non-Operating
Interest Income	500.3M	800.4M	550.9M	552.9M	228.4M
Interest Expense	742.2M	642.1M	524.1M	525.8M	120.8M
Net Interest Income	(241.9M)	158.3M	26.8M	27.1M	107.6M
Other Non-Op Income/Expense	(1.1B)	(642.1M)	(524.1M)	(525.8M)	(125.0M)
Non-Operating Income (excl Interest)	474.0M	—	—	—	4.2M
EBT (Pre-Tax Income)	(52.1M)	322.7M	(14.4M)	(67.9M)	(229.9M)
Income Tax Expense	—	—	—	—	—
Bottom Line
Net Income	(52.1M)	322.7M	(14.4M)	(67.9M)	(229.9M)
Earnings from Cont. Ops	(52.1M)	322.7M	(14.4M)	(67.9M)	(229.9M)
Earnings from Discont. Ops	—	—	—	—	—
Bottom Line Net Income	(58.6M)	322.7M	(14.4M)	(67.9M)	(229.9M)
Per Share
Basic EPS	($0.03)	$3.31	($0.51)	($1.86)	($10.25)
Diluted EPS	($0.03)	$3.30	($0.51)	($1.86)	($10.25)
Revenue Per Share	$6.16	$13.89	$4.60	$10.44	($39.15)
Shares
Basic Shares Outstanding	144.6M	93.9M	52.2M	43.1M	22.4M
Diluted Shares Outstanding	144.6M	94.3M	52.2M	43.1M	23.6M
Profitability Metrics
EBITDA	529.9M	966.8M	509.8M	457.9M	(92.6M)
D&A	5.8M	2.0M	—	—	16.5M
EBIT	524.1M	964.8M	509.8M	457.9M	(109.1M)

As reported, in the filing currency · TTM sums the four latest quarters; MRQ is the latest quarter · Negatives in parentheses; a dash is a line the filing does not carry · Data as of Sep 1, 2026