Filing Flows › Claros Mortgage Trust (CMTG) › Q3 2025
Claros Mortgage Trust (CMTG) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 5, 2025
Claros Mortgage Trust (CMTG) reported revenue of $46.1M for the third quarter 2025 (Q3 2025), -29% from a year earlier and -11% from the quarter before. Operating margin was -20.7%, net loss $9.5M (20.7% of revenue).
Claros Mortgage Trust, Q3 2025: revenue $46.1M (-29% year over year), operating margin -20.7%, net loss $9.5M, operating cash flow $8.8M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $46.1M | -11% | -29% |
| Operating profit | −$9.5M | — | — |
| Net earnings | −$9.5M | — | — |
| Operating cash flow | $8.8M | — | -78% |
What changed
Revenue was $46.1M in Q3 2025, down 29% year over year and down 11% from the previous quarter.
Operating costs exceeded revenue by $9.5M, an operating margin of -20.7%. Total costs fell 54% while revenue fell 29%. The fastest-growing cost line was General & admin (+32%). The quarter ended with a net loss of $9.5M, narrower than the previous quarter's $181.7M loss.
Operating cash flow was $8.8M (down 78% year over year). Non-cash charges added back $3.7M of depreciation and amortization and $2.1M of share-based compensation. Working capital and other items added $12.4M.
Questions
What was Claros Mortgage Trust's revenue in the third quarter 2025?
Claros Mortgage Trust (CMTG) reported revenue of $46.1M for the third quarter 2025 (Q3 2025), -29% from a year earlier and -11% from the quarter before.
Was Claros Mortgage Trust profitable in the third quarter 2025?
Operating loss was $9.5M (-20.7% of revenue) and net loss $9.5M.