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Claros Mortgage Trust (CMTG) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 3, 2026 · Claros Mortgage Trust (CMTG) Q3 2026 earnings results →
Q3 2026 Revenue down 29% year over year to $32.6M · 44¢ of every $1 of revenue lost · operating margin -43.7%
Claros Mortgage Trust made $32.6M in Q3 2026 (-29% Y/Y). Operating margin -43.7%, net loss $14.3M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 3, 2026.
Drawing the Sankey…
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What changed this quarter
Revenue was $32.6M in Q3 2026, down 29% year over year and up 10% from the previous quarter.
Operating costs exceeded revenue by $14.3M, an operating margin of -43.7%. Total costs fell 16% while revenue fell 29%. The quarter ended with a net loss of $14.3M, narrower than the previous quarter's $255.4M loss.
Operating cash flow was $8.0M (down 9% year over year). Non-cash charges added back $4.5M of depreciation and amortization and $1.5M of share-based compensation. Working capital and other items added $16.3M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 3, 2026 | $32.6M | -29% | -43.7% | −$14.3M | $8.0M |
| Q2 2026 | 10-Q | Jul 29, 2026 | $29.7M | -42% | -859.7% | −$255M | −$12.1M |
| Q1 2026 | 10-Q | May 6, 2026 | $29.5M | -32% | -183.9% | −$54.3M | −$6.5M |
| Q4 2025 | 10-K | Feb 18, 2026 | $46.7M | -22% | -468.9% | −$219M | $2.4M |
| Q3 2025 | 10-Q | Nov 5, 2025 | $46.1M | -29% | -20.7% | −$9.5M | $8.8M |
| Q2 2025 | 10-Q | Aug 6, 2025 | $51.6M | -20% | -351.9% | −$182M | −$5.8M |
| Q1 2025 | 10-Q | May 7, 2025 | $43.4M | -26% | -181.3% | −$78.6M | −$35.8M |
Charts
Interactive views
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💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About Claros Mortgage Trust
CMTG is a real estate investment trust that is focused primarily on originating senior and subordinate loans on transitional commercial real estate assets located in major markets across the U.S. CMTG is externally managed and advised by Claros REIT Management LP, an affiliate of Mack Real Estate Credit Strategies, L.P. Additional information can be found on the Company’s website at www.clarosmortgage.com .
In its own words, from its 8-K, filed Jul 29, 2026.
Claros Mortgage Trust against its Real Estate peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -29% against the peers' median +8%. Operating margin: -43.7% against the peers' median 15.9%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| CMTG Claros Mortgage Trust | Q3 2026 | $32.6M | -29% | -43.7% |
| CBRE CBRE Group | Q3 2026 | $11.5B | +13% | 4.9% |
| CWK Cushman & Wakefield | Q3 2026 | $2.8B | +8% | 4.6% |
| Prologis, L.P. | Q3 2026 | $2.4B | +8% | 43.8% |
| Digital Realty Trust, L.P. | Q3 2026 | $1.9B | +21% | 15.9% |
| FOR Forestar Group | Q4 FY26 | $581M | -13% | 13.5% |
| Regency Centers LP | Q3 2026 | $419M | +8% | 72.3% |
| Tiaa Real Estate Account | Q3 2026 | $303M | -0.8% | 298.8% |
| MRP Millrose Properties | Q3 2026 | $211M | +18% | 85.5% |
Source: Claros Mortgage Trust 10-Q on SEC EDGAR · CIK 1666291 · Real Estate
Guidance and outlook
13F: who owns CMTG and who is buying
More on CMTG
- How Claros Mortgage Trust makes money: revenue by segment
- Claros Mortgage Trust next earnings date and what analysts expect
- Claros Mortgage Trust stock forecast, price target and fair value
- Who owns Claros Mortgage Trust stock: holders, funds and Congress trades
- Claros Mortgage Trust guidance and outlook
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results