Filing Flows › Hines Global Income Trust (HGIT) › Q4 2025
Hines Global Income Trust (HGIT) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Mar 30, 2026
Hines Global Income Trust (HGIT) reported revenue of $124M for the fourth quarter 2025 (Q4 2025), +37% from a year earlier and +16% from the quarter before. Operating margin was -4.2%, net loss $51.3M (41.4% of revenue).
Hines Global Income Trust, Q4 2025: revenue $124M (+37% year over year), operating margin -4.2%, net loss $51.3M, operating cash flow $6.5M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $124M | +16% | +37% |
| Operating profit | −$5.2M | -156% | -144% |
| Net earnings | −$51.3M | — | — |
| Operating cash flow | $6.5M | -79% | -48% |
What changed
Revenue was $123.9M in Q4 2025, up 37% year over year and up 16% from the previous quarter. Residential/Living investments was the largest line at 31% of revenue.
Gross margin was 61.4%, up 1.3 points from Q4 2024. Operating costs exceeded revenue by $5.2M, an operating margin of -4.2%. Operating expenses grew 91% against revenue growth of 37%. The fastest-growing cost line was Other operating costs (+91%). The quarter ended with a net loss of $51.3M, wider than the previous quarter's $20.1M loss. Net interest and other expense of $45.3M was the main reason.
Operating cash flow was $6.5M (down 48% year over year). Non-cash charges added back $56.2M of depreciation and amortization. Working capital and other items added $1.6M. Capital expenditures of $11.8M exceeded it, leaving free cash flow of −$5.3M.
Questions
What was Hines Global Income Trust's revenue in the fourth quarter 2025?
Hines Global Income Trust (HGIT) reported revenue of $124M for the fourth quarter 2025 (Q4 2025), +37% from a year earlier and +16% from the quarter before.
Was Hines Global Income Trust profitable in the fourth quarter 2025?
Operating loss was $5.2M (-4.2% of revenue) and net loss $51.3M.