Filing Flows › Terra Property Trust (TPTS) › Q4 2025
Terra Property Trust (TPTS) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Mar 19, 2026
Terra Property Trust (TPTS) reported revenue of $7.1M for the fourth quarter 2025 (Q4 2025), -37% from a year earlier and -3% from the quarter before. Operating margin was -48.8%, net loss $10.6M (150.2% of revenue).
Terra Property Trust, Q4 2025: revenue $7.1M (-37% year over year), operating margin -48.8%, net loss $10.6M, operating cash flow $4.2M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $7.1M | -3% | -37% |
| Operating profit | −$3.5M | -803% | — |
| Net earnings | −$10.6M | — | — |
| Operating cash flow | $4.2M | — | +80% |
What changed
Revenue was $7.1M in Q4 2025, down 37% year over year and down 3% from the previous quarter.
Operating costs exceeded revenue by $3.5M, an operating margin of -48.8%. Total costs fell 46% while revenue fell 37%. The quarter ended with a net loss of $10.6M, wider than the previous quarter's $6.7M loss. Net interest and other expense of $7.2M was the main reason.
Operating cash flow was $4.2M (up 80% year over year). Non-cash charges added back $590K of depreciation and amortization. Working capital and other items added $14.2M.
Questions
What was Terra Property Trust's revenue in the fourth quarter 2025?
Terra Property Trust (TPTS) reported revenue of $7.1M for the fourth quarter 2025 (Q4 2025), -37% from a year earlier and -3% from the quarter before.
Was Terra Property Trust profitable in the fourth quarter 2025?
Operating loss was $3.5M (-48.8% of revenue) and net loss $10.6M.