FSREM · As filed with the SEC
FS Credit Real Estate Income Trust income statement, by fiscal year
The statement as FS Credit Real Estate Income Trust presents it in its 10-Q and 10-K: its own lines, labels and order. Tables over time lines up standardized figures across every filing.
Consolidated Statements of Operations · USD thousands, except per-share amounts
| USD thousands, except per-share amounts | FY2025 Year ended Dec 31, 2025 | FY2024 Year ended Dec 31, 2024 | FY2023 Year ended Dec 31, 2023 | FY2022 Year ended Dec 31, 2022 | FY2021 Year ended Dec 31, 2021 | FY2020 Year ended Dec 31, 2020 |
|---|---|---|---|---|---|---|
| Net interest income | ||||||
| Interest income | 625,442 | 748,815 | 745,516 | 373,195 | 85,663 | 38,127 |
| Less: Interest expense | — | — | (426,418) | (186,745) | (27,390) | (11,352) |
| Less: Interest expense | (387,848) | (450,828) | — | — | — | — |
| Interest income on mortgage loans held in securitization trusts | 148,001 | 89,331 | 24,374 | 6,936 | 0 | — |
| Less: Interest expense on mortgage obligations issued by securitization trusts | — | — | — | (6,215,000) | — | — |
| Less: Interest expense on mortgage obligations issued by securitization trusts | (130,065) | (78,513) | (21,139) | — | 0 | — |
| Net interest income | 255,530 | 308,805 | 322,333 | 187,171 | 58,273 | 26,775 |
| Other expenses | ||||||
| Management fee | 37,381 | 37,922 | 34,884 | 23,352 | 7,024 | 2,948 |
| Performance fee | — | — | — | 8,828,000 | 1,373,000 | 1,220,000 |
| Performance fee | 0 | 16,141 | 23,356 | — | 1,373 | — |
| General and administrative expenses | 46,773 | 46,147 | 41,183 | 24,573 | 8,824 | 5,113 |
| Real estate operating expenses | 33,261 | 11,149 | 6,268 | — | 0 | — |
| Depreciation and amortization | 20,387 | 15,384 | 7,336 | — | 0 | — |
| Interest expense on real estate | 8,056 | 9,251 | 9,105 | — | 0 | — |
| Less: Expense limitation | (1,589) | (139) | (148) | (605) | (56) | (1,023) |
| Add: Expense recoupment to sponsor | — | — | — | 3,026,000 | 460,000 | — |
| Add: Expense recoupment to sponsor | 338 | 0 | 753 | — | 460 | — |
| Net other expenses | 144,607 | 135,855 | 122,737 | 59,174 | 17,625 | 8,258 |
| Other income (loss) | ||||||
| Credit loss expense, net | 13,157 | (20,517) | (65,613) | — | 0 | — |
| Real estate operating income | 48,192 | 25,298 | 20,303 | (1,373) | 0 | — |
| Net change in unrealized gain (loss) on interest rate cap | (2,617) | (3,899) | (2,543) | 650 | 0 | — |
| Net realized gain (loss) on mortgage-backed securities available-for-sale | — | — | 0 | — | (17) | — |
| Net realized gain (loss) on mortgage-backed securities, fair value option | 111 | 359 | — | 441 | (17) | (556) |
| Unrealized gain (loss) on mortgage loans and obligations held in securitization trusts, net | — | — | — | (86,000) | — | — |
| Net realized gain (loss) on mortgage-backed securities, available-for-sale | — | 0 | — | — | — | — |
| Net realized gain (loss) on extinguishment of debt | 0 | 273 | 261 | — | 0 | — |
| Net realized gain (loss) on real estate, net | 3,909 | 357 | — | — | — | — |
| Net change in unrealized gain (loss) on mortgage-backed securities, fair value option | (1,157) | 762 | 433 | — | 0 | — |
| Net unrealized gain (loss) on mortgage loans and obligations held in securitization trusts | 1,094 | 1,692 | 299 | — | 0 | — |
| Other income (loss), net | — | 0 | 0 | — | 0 | — |
| Net unrealized gain (loss) on real estate, held-for-sale | (2,834) | — | — | — | — | — |
| Total other income (loss) | 59,855 | 4,325 | (46,860) | (368) | (17) | (556) |
| Net income before income taxes | 170,778 | 177,275 | 152,736 | 127,629 | 40,631 | 17,961 |
| Income tax expense | (869) | (2,261) | (2,533) | (1,251) | (614) | (103) |
| Net income | 169,909 | 175,014 | 150,203 | 126,378 | 40,017 | 17,858 |
| Preferred stock dividends | (15) | (15) | (15) | (15) | (15) | (14) |
| Net income attributable to FS Credit Real Estate Income Trust, Inc. | 169,894 | 174,999 | 150,188 | 126,363 | 40,002 | 17,844 |
| Per share information—basic and diluted | ||||||
| Net income per share of common stock - basic (in dollars per share) | 1.39 | 1.42 | 1.32 | 1.65 | 1.64 | 1.70 |
| Net income per share of common stock - diluted (in dollars per share) | 1.36 | 1.40 | 1.32 | 1.65 | 1.64 | 1.70 |
| Weighted average common stock outstanding - basic (in shares) | 122,088,334 | 123,465,514 | 113,761,636 | 76,755,737 | 24,395,178,000 | 10,473,787 |
| Weight average common stock outstanding - diluted (in shares) | 124,648,777 | 125,031,581 | 113,761,636 | 76,755,737 | 24,395,178,000 | 10,473,787 |
As filed on EDGAR · Not affiliated with the U.S. SEC · Not investment advice. Each column links to its filing.