Filing Flows › KBS Real Estate Investment Trust III (KBSR) › Q4 2025
KBS Real Estate Investment Trust III (KBSR) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Mar 27, 2026
KBS Real Estate Investment Trust III (KBSR) reported revenue of $58.6M for the fourth quarter 2025 (Q4 2025), -16% from a year earlier and -5% from the quarter before. Operating margin was -32.4%, net loss $18.9M (32.2% of revenue).
KBS Real Estate Investment Trust III, Q4 2025: revenue $58.6M (-16% year over year), operating margin -32.4%, net loss $18.9M, operating cash flow −$9.6M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $58.6M | -5% | -16% |
| Operating profit | −$19.0M | — | — |
| Net earnings | −$18.9M | — | -201% |
| Operating cash flow | −$9.6M | -436% | -1259% |
What changed
Revenue was $58.6M in Q4 2025, down 16% year over year and down 5% from the previous quarter.
Operating costs exceeded revenue by $19.0M, an operating margin of -32.4%. Total costs fell 9% while revenue fell 16%. The quarter ended with a net loss of $18.9M, wider than the previous quarter's $4.2M loss.
Operating cash flow was −$9.6M. Non-cash charges added back $21.1M of depreciation and amortization. Working capital and other items used $11.8M. Capital expenditures of $6.2M exceeded it, leaving free cash flow of −$15.8M.
Questions
What was KBS Real Estate Investment Trust III's revenue in the fourth quarter 2025?
KBS Real Estate Investment Trust III (KBSR) reported revenue of $58.6M for the fourth quarter 2025 (Q4 2025), -16% from a year earlier and -5% from the quarter before.
Was KBS Real Estate Investment Trust III profitable in the fourth quarter 2025?
Operating loss was $19.0M (-32.4% of revenue) and net loss $18.9M.
Source: KBS Real Estate Investment Trust III 10-K on SEC EDGAR.