Filing Flows › Bluerock Homes Trust (BHM) › Q4 2025
Bluerock Homes Trust (BHM) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 27, 2026
Bluerock Homes Trust (BHM) reported revenue of $18.9M for the fourth quarter 2025 (Q4 2025), +37% from a year earlier and +14% from the quarter before. Operating margin was -48.8%, net loss $9.5M (50.1% of revenue).
Bluerock Homes Trust, Q4 2025: revenue $18.9M (+37% year over year), operating margin -48.8%, net loss $9.5M, operating cash flow −$491K. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $18.9M | +14% | +37% |
| Operating profit | −$9.2M | — | — |
| Net earnings | −$9.5M | — | — |
| Operating cash flow | −$491K | -104% | -110% |
What changed
Revenue was $18.9M in Q4 2025, up 37% year over year and up 14% from the previous quarter. Residential communities was the largest line at 61% of revenue.
Operating costs exceeded revenue by $9.2M, an operating margin of -48.8%. Total costs grew 33% against revenue growth of 37%. The fastest-growing cost line was Other operating costs (+39%). The quarter ended with a net loss of $9.5M, narrower than the previous quarter's $10.0M loss. Minority interests bore $6.6M of it: to shareholders the quarter was a loss of $2.9M.
Operating cash flow was −$491K. Non-cash charges added back $8.5M of depreciation and amortization. Working capital and other items added $470K. Capital expenditures of $3.7M exceeded it, leaving free cash flow of −$4.2M.
Questions
What was Bluerock Homes Trust's revenue in the fourth quarter 2025?
Bluerock Homes Trust (BHM) reported revenue of $18.9M for the fourth quarter 2025 (Q4 2025), +37% from a year earlier and +14% from the quarter before.
Was Bluerock Homes Trust profitable in the fourth quarter 2025?
Operating loss was $9.2M (-48.8% of revenue) and net loss $9.5M.