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Bluerock Homes Trust cash flow, quarter by quarter

Latest: Q2 2026 · from the cash-flow statements filed with the SEC

Free cash flow−$2.5M in Q2 2026 · −$10.5M over twelve months

Operating cash flow$2.8M
Capital spending−$5.3M
Free cash flow−$2.5M

Analysis

In Q2 2026, Bluerock Homes Trust generated $2.8M of operating cash flow and spent $5.3M on capital projects, leaving free cash flow of −$2.5M. That is $11.5M less than in Q2 2025 ($9.0M).

Over the twelve months to Jun 30, 2026, operating cash flow was $7.1M; the largest uses were real estate bought ($179M), capital spending ($17.5M), partners ($4.6M); besides operations, cash came from other financing ($110M), net borrowing (+) / repaid (−) ($86.1M); the cash balance rose by $49.7M.

Operating cash flow was $2.8M against net income of −$9.0M. The largest differences: depreciation & amortization +$7.9M, payables +$1.9M, gains on investments −$318K.

Free cash flow

Bluerock Homes Trust: free cash flow by quarterBluerock Homes Trust: free cash flow by quarter−$601KQ3 2024$1.6MQ4 2024−$2.9MQ1 2025$9.0MQ2 2025$8.5MQ3 2025−$4.2MQ4 2025−$12.3MQ1 2026−$2.5MQ2 2026
Operating cash flow less capital spending.
Bluerock Homes Trust: operating cash flow against capital spendingBluerock Homes Trust: operating cash flow against capital spendingOperating cash flowCapital spending$1.7M$2.3MQ3 2024$5.0M$3.4MQ4 2024$951K$3.8MQ1 2025$14.1M$5.1MQ2 2025$13.2M$4.7MQ3 2025−$491K$3.7MQ4 2025−$8.5M$3.8MQ1 2026$2.8M$5.3MQ2 2026
Latest (Q2 2026): Operating cash flow $2.8M, Capital spending $5.3M.

Capital allocation, year by year

Bluerock Homes Trust: where the cash came from (up) and went (down), by fiscal yearBluerock Homes Trust: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingDividendsFY2021: Operating cash flow $9.8MFY2021: Net borrowing −$249MFY2021: Shares issued $160MFY2021: Asset sales $402MFY2021: Capital spending −$1.7M$572MFY2021FY2022: Operating cash flow $3.5MFY2022: Net borrowing $91.1MFY2022: Shares issued $98.2MFY2022: Capital spending −$18.6M$193MFY2022FY2023: Operating cash flow $13.9MFY2023: Net borrowing $21.0MFY2023: Asset sales $9.1MFY2023: Capital spending −$9.5M$43.9MFY2023FY2024: Operating cash flow $9.1MFY2024: Net borrowing $187MFY2024: Shares issued $101MFY2024: Asset sales $50.0MFY2024: Capital spending −$9.3MFY2024: Dividends −$3.9M$347MFY2024FY2025: Operating cash flow $27.8MFY2025: Net borrowing $59.2MFY2025: Asset sales $21.5MFY2025: Capital spending −$17.4MFY2025: Dividends −$1.5M$108MFY2025
Over these 5 years operating cash flow totalled $64.0M; the largest uses were net borrowing ($249M) and capital spending ($56.5M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$172M
Debt$422M
Net debt$250M
Due within a year$33.0M

Bluerock Homes Trust's operations bring cash in ($7.1M over twelve months), and it spends more than that on capital projects: a gap of $10.5M funded from its $172M of cash and investments and from borrowing ($422M of debt, $33.0M due within a year). That is a choice to invest, not a cash runway running down.

Bluerock Homes Trust: debt maturities by year (FY2025)Bluerock Homes Trust: debt maturities by year (FY2025)$33.0MYear 1$82.9MYear 2$5.7MYear 3$80.5MYear 4$55.2MYear 5$184MAfter year 5
Principal due in each year as disclosed in the annual report, against $172M of cash and investments now.

Where the cash came from and went

Bluerock Homes Trust: sources (+) and uses (−) of cash, Q2 2026Bluerock Homes Trust: sources (+) and uses (−) of cash, Q2 2026Other financing$26.1MAsset & business sales$16.1MNet borrowing (+) / repaid (−)−$14.2MOther investing−$12.6MReal estate bought−$8.0MCapital spending−$5.3MCash drawn (+) / kept (−)−$3.2MOperating cash flow$2.8MPartners−$1.2MDividends−$507K
Bluerock Homes Trust: sources (+) and uses (−) of cash, TTM to Q2 2026Bluerock Homes Trust: sources (+) and uses (−) of cash, TTM to Q2 2026Real estate bought−$179MOther financing$110MNet borrowing (+) / repaid (−)$86.1MCash drawn (+) / kept (−)−$49.7MAsset & business sales$44.5MCapital spending−$17.5MOperating cash flow$7.1MOther investing$4.7MPartners−$4.6MDividends−$2.0M

From profit to cash

Bluerock Homes Trust: net income to operating cash flow, Q2 2026Bluerock Homes Trust: net income to operating cash flow, Q2 2026Net income−$9.0MDepreciation & amortization$7.9MGains on investments−$318KPayables$1.9MOperating cash flow$2.8M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingDividendsNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q2 2026$2.8M−$5.3M−$507K−$14.2M—−$3.2M−$2.5M
Q1 2026−$8.5M−$3.8M−$507K——$2.9M−$12.3M
Q4 2025−$491K−$3.7M−$507K$14.8M—−$11.2M−$4.2M
Q3 2025$13.2M−$4.7M−$508K$78.7M$6.3M−$38.2M$8.5M
Q2 2025$14.1M−$5.1M—−$47.3M$11.9M$5.6M$9.0M
Q1 2025$951K−$3.8M—−$37.7M$115M−$19.4M−$2.9M
Q4 2024$5.0M−$3.4M—$170M$16.1M$33.6M$1.6M
Q3 2024$1.7M−$2.3M—−$20.2M$37.9M−$41.2M−$601K

Bluerock Homes Trust: income statement and cash flow

Bluerock Homes Trust, Q2 2026: revenue $19.3M (+15% year over year), operating margin -46.4%. The chart follows the revenue to costs, profit and cash.

Bluerock Homes Trust: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.