Filing Flows › Bluerock Homes Trust (BHM) › Q2 2025
Bluerock Homes Trust (BHM) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 13, 2025
Bluerock Homes Trust (BHM) reported revenue of $16.8M for the second quarter 2025 (Q2 2025), +34% from a year earlier and +2% from the quarter before. Operating margin was -30.9%, net loss $5.8M (34.7% of revenue).
Bluerock Homes Trust, Q2 2025: revenue $16.8M (+34% year over year), operating margin -30.9%, net loss $5.8M, operating cash flow $14.1M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $16.8M | +2% | +34% |
| Operating profit | −$5.2M | — | — |
| Net earnings | −$5.8M | — | — |
| Operating cash flow | $14.1M | 15× | 11× |
| Free cash flow | $9.0M | — | — |
What changed
Revenue was $16.8M in Q2 2025, up 34% year over year and up 2% from the previous quarter. Residential communities was the largest line at 53% of revenue. Residential communities added $5.1M year over year (up 133%), 119% of the total change. Scattered single-family homes declined 4%.
Operating costs exceeded revenue by $5.2M, an operating margin of -30.9%. Total costs grew 24% against revenue growth of 34%. The fastest-growing cost line was Other operating costs (+27%). The quarter ended with a net loss of $5.8M, narrower than the previous quarter's $7.3M loss. Minority interests bore $3.3M of it: to shareholders the quarter was a loss of $2.6M.
Operating cash flow was $14.1M (up 1013% year over year). Non-cash charges added back $7.8M of depreciation and amortization. Working capital and other items added $12.1M. Capital expenditures of $5.1M left free cash flow of $9.0M.
Questions
What was Bluerock Homes Trust's revenue in the second quarter 2025?
Bluerock Homes Trust (BHM) reported revenue of $16.8M for the second quarter 2025 (Q2 2025), +34% from a year earlier and +2% from the quarter before.
Was Bluerock Homes Trust profitable in the second quarter 2025?
Operating loss was $5.2M (-30.9% of revenue) and net loss $5.8M.