Filing Flows › Bluerock Homes Trust (BHM) › Q1 2025
Bluerock Homes Trust (BHM) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 9, 2025
Bluerock Homes Trust (BHM) reported revenue of $16.4M for the first quarter 2025 (Q1 2025), +47% from a year earlier and +19% from the quarter before. Operating margin was -42.6%, net loss $7.3M (44.7% of revenue).
Bluerock Homes Trust, Q1 2025: revenue $16.4M (+47% year over year), operating margin -42.6%, net loss $7.3M, operating cash flow $951K. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $16.4M | +19% | +47% |
| Operating profit | −$7.0M | — | — |
| Net earnings | −$7.3M | — | — |
| Operating cash flow | $951K | -81% | -14% |
What changed
Revenue was $16.4M in Q1 2025, up 47% year over year and up 19% from the previous quarter. Residential communities was the largest line at 49% of revenue. Residential communities added $5.5M year over year (up 215%), 106% of the total change. Scattered single-family homes declined 5%.
Operating costs exceeded revenue by $7.0M, an operating margin of -42.6%. Total costs grew 63% against revenue growth of 47%. The fastest-growing cost line was Other operating costs (+77%). The quarter ended with a net loss of $7.3M, wider than the previous quarter's $7.3M loss. Minority interests bore $4.8M of it: to shareholders the quarter was a loss of $2.5M.
Operating cash flow was $1.0M (down 14% year over year). Non-cash charges added back $8.2M of depreciation and amortization. Working capital and other items added $113K. Capital expenditures of $3.8M exceeded it, leaving free cash flow of −$2.9M.
Questions
What was Bluerock Homes Trust's revenue in the first quarter 2025?
Bluerock Homes Trust (BHM) reported revenue of $16.4M for the first quarter 2025 (Q1 2025), +47% from a year earlier and +19% from the quarter before.
Was Bluerock Homes Trust profitable in the first quarter 2025?
Operating loss was $7.0M (-42.6% of revenue) and net loss $7.3M.