Filing Flows › Ares Commercial Real Estate (ACRE) › Q1 2026
Ares Commercial Real Estate (ACRE) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 7, 2026
Ares Commercial Real Estate (ACRE) reported revenue of $13.5M for the first quarter 2026 (Q1 2026), -10% from a year earlier and +2% from the quarter before. Operating margin was -71.1%, net loss $9.6M (71.4% of revenue).
Ares Commercial Real Estate, Q1 2026: revenue $13.5M (-10% year over year), operating margin -71.1%, net loss $9.6M, operating cash flow −$56.6M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $13.5M | +2% | -10% |
| Operating profit | −$9.6M | — | -199% |
| Net earnings | −$9.6M | — | -203% |
| Operating cash flow | −$56.6M | -1323% | -807% |
What changed
Revenue was $13.5M in Q1 2026, down 10% year over year and up 2% from the previous quarter.
Operating costs exceeded revenue by $9.6M, an operating margin of -71.1%. Total costs grew 333% against a revenue fall of 10%. The fastest-growing cost line was Other operating costs (+500%). The quarter ended with a net loss of $9.6M, wider than the previous quarter's $3.9M loss.
Operating cash flow was −$56.6M. Non-cash charges added back $741K of depreciation and amortization and $897K of share-based compensation. Working capital and other items used $48.6M. Capital expenditures of $534K exceeded it, leaving free cash flow of −$57.1M.
Questions
What was Ares Commercial Real Estate's revenue in the first quarter 2026?
Ares Commercial Real Estate (ACRE) reported revenue of $13.5M for the first quarter 2026 (Q1 2026), -10% from a year earlier and +2% from the quarter before.
Was Ares Commercial Real Estate profitable in the first quarter 2026?
Operating loss was $9.6M (-71.1% of revenue) and net loss $9.6M.