Filing Flows › Bluerock Homes Trust (BHM) › Q1 2026
Bluerock Homes Trust (BHM) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 7, 2026
Bluerock Homes Trust (BHM) reported revenue of $19.7M for the first quarter 2026 (Q1 2026), +20% from a year earlier and +4% from the quarter before. Operating margin was -51.9%, net loss $10.3M (52.3% of revenue).
Bluerock Homes Trust, Q1 2026: revenue $19.7M (+20% year over year), operating margin -51.9%, net loss $10.3M, operating cash flow −$8.5M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $19.7M | +4% | +20% |
| Operating profit | −$10.2M | — | — |
| Net earnings | −$10.3M | — | — |
| Operating cash flow | −$8.5M | — | -989% |
What changed
Revenue was $19.7M in Q1 2026, up 20% year over year and up 4% from the previous quarter. Residential communities was the largest line at 65% of revenue. Residential communities added $4.6M year over year (up 57%), 141% of the total change. Scattered single-family homes declined 11%.
Operating costs exceeded revenue by $10.2M, an operating margin of -51.9%. Total costs grew 28% against revenue growth of 20%. The fastest-growing cost line was Other operating costs (+32%). The quarter ended with a net loss of $10.3M, wider than the previous quarter's $9.5M loss. Minority interests bore $6.9M of it: to shareholders the quarter was a loss of $3.4M.
Operating cash flow was −$8.5M. Non-cash charges added back $8.9M of depreciation and amortization. Working capital and other items used $7.0M. Capital expenditures of $3.8M exceeded it, leaving free cash flow of −$12.3M.
Questions
What was Bluerock Homes Trust's revenue in the first quarter 2026?
Bluerock Homes Trust (BHM) reported revenue of $19.7M for the first quarter 2026 (Q1 2026), +20% from a year earlier and +4% from the quarter before.
Was Bluerock Homes Trust profitable in the first quarter 2026?
Operating loss was $10.2M (-51.9% of revenue) and net loss $10.3M.