Filing Flows › Nexpoint Diversified Real Estate Trust (NXDT) › Q4 2025
Nexpoint Diversified Real Estate Trust (NXDT) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Mar 31, 2026
Nexpoint Diversified Real Estate Trust (NXDT) reported revenue of $18.4M for the fourth quarter 2025 (Q4 2025), -29% from a year earlier and +5% from the quarter before. Operating margin was -18.8%, net loss $35.5M (193.1% of revenue).
Nexpoint Diversified Real Estate Trust, Q4 2025: revenue $18.4M (-29% year over year), operating margin -18.8%, net loss $35.5M, operating cash flow $1.2M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $18.4M | +5% | -29% |
| Operating profit | −$3.5M | — | -470% |
| Net earnings | −$35.5M | — | — |
| Operating cash flow | $1.2M | +41% | — |
| Free cash flow | $527K | +67% | — |
What changed
Revenue was $18.4M in Q4 2025, down 29% year over year and up 5% from the previous quarter. Diversified Segment was the largest line at 67% of revenue.
Operating costs exceeded revenue by $3.5M, an operating margin of -18.8%. Total costs fell 13% while revenue fell 29%. The quarter ended with a net loss of $35.5M, wider than the previous quarter's $12.3M loss. Net interest and other expense of $31.8M was the main reason.
Operating cash flow was $1.2M. Non-cash charges added back $5.9M of depreciation and amortization and $1.1M of share-based compensation. Working capital and other items added $29.7M. Capital expenditures of $653K left free cash flow of $527K.
Questions
What was Nexpoint Diversified Real Estate Trust's revenue in the fourth quarter 2025?
Nexpoint Diversified Real Estate Trust (NXDT) reported revenue of $18.4M for the fourth quarter 2025 (Q4 2025), -29% from a year earlier and +5% from the quarter before.
Was Nexpoint Diversified Real Estate Trust profitable in the fourth quarter 2025?
Operating loss was $3.5M (-18.8% of revenue) and net loss $35.5M.
Source: Nexpoint Diversified Real Estate Trust 10-K on SEC EDGAR.