Filing Flows › KBS Real Estate Investment Trust III (KBSR) › Q3 2025
KBS Real Estate Investment Trust III (KBSR) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 14, 2025
KBS Real Estate Investment Trust III (KBSR) reported revenue of $61.6M for the third quarter 2025 (Q3 2025), -10% from a year earlier and -6% from the quarter before. Operating margin was -146.4%, net loss $4.2M (6.7% of revenue).
KBS Real Estate Investment Trust III, Q3 2025: revenue $61.6M (-10% year over year), operating margin -146.4%, net loss $4.2M, operating cash flow $2.8M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $61.6M | -6% | -10% |
| Operating profit | −$90.2M | — | — |
| Net earnings | −$4.2M | — | — |
| Operating cash flow | $2.8M | -55% | — |
What changed
Revenue was $61.6M in Q3 2025, down 10% year over year and down 6% from the previous quarter.
Operating costs exceeded revenue by $90.2M, an operating margin of -146.4%. Total costs grew 22% against a revenue fall of 10%. The fastest-growing cost line was Other operating costs (+28%). The quarter ended with a net loss of $4.2M, narrower than the previous quarter's $22.4M loss. Non-operating items added $86.1M, -2072% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $2.8M. Non-cash charges added back $23.2M of depreciation and amortization. Working capital and other items used $16.2M. Capital expenditures of $5.8M exceeded it, leaving free cash flow of −$3.0M.
Questions
What was KBS Real Estate Investment Trust III's revenue in the third quarter 2025?
KBS Real Estate Investment Trust III (KBSR) reported revenue of $61.6M for the third quarter 2025 (Q3 2025), -10% from a year earlier and -6% from the quarter before.
Was KBS Real Estate Investment Trust III profitable in the third quarter 2025?
Operating loss was $90.2M (-146.4% of revenue) and net loss $4.2M.
Source: KBS Real Estate Investment Trust III 10-Q on SEC EDGAR.