Q2 2026 Revenue down 4% year over year to $21.0M · 24¢ of every $1 of revenue lost · operating margin -26.4%
Acres Commercial Realty made $21.0M in Q2 2026 (-4% Y/Y). Operating margin -26.4%, net loss $5.0M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 4, 2026.
Revenue$21.0M
Year over year-4%
Operating margin-26.4%
Net earnings−$5.0M
Operating cash flow$5.5M
Drawing the Sankey…
Open the interactive Sankey →click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $21.0M in Q2 2026, down 4% year over year and up 18% from the previous quarter.
Operating costs exceeded revenue by $5.5M, an operating margin of -26.4%. Total costs grew 51% against a revenue fall of 4%. The fastest-growing cost line was Other operating costs (+61%). The quarter ended with a net loss of $5.0M, after a profit of $7.5M the previous quarter.
Operating cash flow was $5.5M (down 53% year over year). Non-cash charges added back $2.8M of depreciation and amortization. Working capital and other items added $7.7M.
Quarterly history
Quarter
Form
Filed
Revenue
Y/Y
Op. margin
Net earnings
Op. cash flow
Q2 2026
10-Q
Aug 4, 2026
$21.0M
-4%
-26.4%
−$5.0M
$5.5M
Q1 2026
10-Q
May 6, 2026
$17.8M
+5%
22.0%
$7.5M
$913K
Q4 2025
10-K
Mar 10, 2026
$20.0M
-6%
36.1%
$6.3M
$6.3M
Q3 2025
10-Q
Nov 6, 2025
$21.0M
-6%
24.1%
$9.8M
−$9.4M
Q2 2025
10-Q
Aug 5, 2025
$21.9M
+4%
19.9%
$4.3M
$11.8M
Q1 2025
10-Q
May 8, 2025
$17.0M
-9%
-1.4%
−$730K
−$4.6M
Q4 2024
10-K
Mar 17, 2025
$21.4M
-4%
11.0%
$4.1M
$757K
Charts
Latest (Q2 2026): Y/Y -4%, Q/Q +18%.From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.Latest (Q2 2026): Net income −$5.0M, Operating cash flow $5.5M.-31.1% since FY2020: buybacks shrank the count.Cash $83.8M, short-term investments —, long-term debt $1.6B 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
JPM — 2% of the supplier’s revenue · Stated in 10-K (sentence) · source
About Acres Commercial Realty
ACRES Commercial Realty Corp. is a real estate investment trust that is primarily focused on originating, holding and managing commercial real estate mortgage loans and equity investments in commercial real estate properties through direct ownership and joint ventures. The Company is externally managed by ACRES Capital, LLC, a subsidiary of ACRES Capital Corp., a private commercial real estate lender exclusively dedicated to nationwide middle market commercial real estate lending with a focus on multifamily, student housing, hospitality, industrial and office property in top U.S. markets. For more information, please visit the Company’s website at www.acresreit.com or contact investor relations at IR@acresreit.com.
In its own words, from its 8-K, filed Jul 29, 2026.
Acres Commercial Realty against its Real Estate Investment Trusts peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -4% against the peers' median +11%. Operating margin: -26.4% against the peers' median 15.9%.