Q2 2026 Revenue down 8% year over year to $19.3M · 0¢ of every $1 of revenue kept as net profit · operating margin 10.9%
Nexpoint Diversified Real Estate Trust made $19.3M in Q2 2026 (-8% Y/Y). Operating margin 10.9%, net earnings $61K. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 14, 2026.
Revenue$19.3M
Year over year-8%
Operating margin10.9%
Net earnings$61K
Operating cash flow−$4.6M
Drawing the Sankey…
Open the interactive Sankey →click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $19.3M in Q2 2026, down 8% year over year and down 15% from the previous quarter.
Operating profit was $2.1M, a 10.9% margin (up 11.6 points year over year). Total costs fell 19% while revenue fell 8%. Net earnings were $61K. The effective tax rate was 15.5%.
Operating cash flow was −$4.6M. Non-cash charges added back $3.5M of depreciation and amortization and $1.3M of share-based compensation. Working capital and other items used $11.5M. Capital expenditures of $2.0M exceeded it, leaving free cash flow of −$6.6M.
Quarterly history
Quarter
Form
Filed
Revenue
Y/Y
Op. margin
Net earnings
Op. cash flow
Q2 2026
10-Q
Aug 14, 2026
$19.3M
-8%
10.9%
$61K
−$4.6M
Q1 2026
10-Q
May 15, 2026
$22.9M
-21%
15.1%
−$21.3M
−$498K
Q4 2025
10-K
Mar 31, 2026
$18.4M
-29%
-18.8%
−$35.5M
$1.2M
Q3 2025
10-Q
Nov 13, 2025
$17.5M
-21%
-19.1%
−$12.3M
$835K
Q2 2025
10-Q
Aug 14, 2025
$21.0M
-6%
-0.6%
−$44.1M
$75K
Q1 2025
10-Q
May 15, 2025
$29.1M
+127%
19.0%
−$35.1M
$7.1M
Q4 2024
10-K
Mar 31, 2025
$25.9M
+17%
3.6%
−$9.1M
−$4.1M
Charts
Latest (Q2 2026): Y/Y -8%, Q/Q -15%.From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.Latest (Q2 2026): Net income $2.0M, Operating cash flow −$4.6M.+23.9% since FY2023: more shares outstanding (issuance, stock pay).Cash $8.2M, short-term investments —, long-term debt — at 2025-12-31.Real Estate Investment Trusts; dot size is quarterly revenue; dashed lines are the industry's medians.
Interactive views
The same charts as the app — open one to draw it.
💵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
NexPoint Diversified Real Estate Trust (the “Company”, “we”, “us” or “our”) is an externally advised, publicly traded REIT focused on the acquisition, asset management, development, and disposition of opportunistic, value-add investments in real estate properties throughout the United States. The Company focuses primarily on investing in various commercial real estate property types and across the capital structure, including but not limited to equity, mortgage debt, mezzanine debt and preferred equity. The Company is advised by the Adviser. The Company was formed as a Delaware statutory trust on March 10, 2006 under the name “Highland Credit Strategies Fund” and changed its name to “NexPoint Diversified Real Estate Trust” in 2021, and the Company has elected to be taxed as a REIT.
In its own words, from its 10-K, filed Mar 31, 2025.
Nexpoint Diversified Real Estate Trust against its Real Estate Investment Trusts peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -8% against the peers' median +11%. Operating margin: 10.9% against the peers' median 15.9%.