Q3 2026 Revenue down 16% year over year to $94.1M · 88¢ of every $1 of revenue lost · operating margin -88.8%
Arbor Realty Trust made $94.1M in Q3 2026 (-16% Y/Y): Noninterest income $56.4M, Net interest income $37.7M. Operating margin -88.8%, net loss $82.4M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Oct 30, 2026.
Revenue$94.1M
Year over year-16%
Operating margin-88.8%
Net earnings−$82.4M
Operating cash flow$202M
Drawing the Sankey…
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What changed this quarter
Revenue was $94.1M in Q3 2026, down 16% year over year and down 19% from the previous quarter. Noninterest income was the largest line at 60% of revenue. Noninterest income lost $17.7M year over year (down 24%), 97% of the total change.
Operating costs exceeded revenue by $83.6M, an operating margin of -88.8%. Total costs grew 236% against a revenue fall of 16%. The fastest-growing cost line was Other operating costs (+277%). The quarter ended with a net loss of $82.4M, wider than the previous quarter's $30.2M loss.
Operating cash flow was $201.6M (up 13% year over year). Non-cash charges added back $5.9M of depreciation and amortization and $3.1M of share-based compensation. Working capital and other items added $275.0M.
Quarterly history
Quarter
Form
Filed
Revenue
Y/Y
Op. margin
Net earnings
Op. cash flow
Q3 2026
10-Q
Oct 30, 2026
$94.1M
-16%
-88.8%
−$82.4M
$202M
Charts
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.Latest (Q3 2026): Net income −$82.4M, Operating cash flow $202M.+56.6% since FY2020: more shares outstanding (issuance, stock pay).Cash $483M, short-term investments —, long-term debt $11.1B at 2025-12-31.Real Estate Investment Trusts; dot size is quarterly revenue; dashed lines are the industry's medians.
Interactive views
The same charts as the app — open one to draw it.
💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
In this Annual Report on Form 10-K we refer to Arbor Realty Trust, Inc. and subsidiaries as “Arbor,” “we,” “us,” “our,” or the “Company” unless we specifically state otherwise, or the context indicates otherwise. Arbor is a Maryland corporation formed in 2003. We are a nationwide real estate investment trust (“REIT”) and direct lender, providing loan origination and servicing for commercial real estate assets. We operate through two business segments: our Structured Loan Origination and Investment Business, or “Structured Business,” and our Agency Loan Origination and Servicing Business, or “Agency Business.”
In its own words, from its 10-K, filed Feb 27, 2026.
Arbor Realty Trust against its Real Estate Investment Trusts peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -16% against the peers' median +11%. Operating margin: -88.8% against the peers' median 15.9%.