Ares Commercial Real Estate financials
$4.110.00%
Close Sep 29, 2026 · split-adjustedRevenue
Net income
Income statement & cash flow
| Quarter | Q2 '26 Jun 30 | Q1 '26 Mar 31 | Q4 '25 Dec 31 | Q3 '25 Sep 30 | Q2 '25 Jun 30 | Q1 '25 Mar 31 | Q4 '24 Dec 31 | Q3 '24 Sep 30 | Q2 '24 Jun 30 | Q1 '24 Mar 31 | Q4 '23 Dec 31 | Q3 '23 Sep 30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $33.5M | $5.9M | $5.6M | $5.6M | $28.7M | $5.7M | $6.3M | $4.7M | $3.4M | $3.5M | $3.2M | $809.0K |
| Gross profit | $33.5M | $5.9M | $5.6M | $5.6M | -$4.3M | $5.7M | $6.3M | $4.7M | $3.4M | $3.5M | $3.2M | $809.0K |
| Gross margin | 100.0% | 100.0% | 100.0% | 100.0% | −15.1% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% |
| Operating income | $24.6M | -$2.6M | -$4.4M | -$4.4M | -$15.1M | -$5.0M | -$4.9M | -$4.6M | -$5.5M | -$5.1M | -$5.4M | -$5.8M |
| Net income | $4.4M | -$9.6M | -$3.9M | $4.7M | -$11.0M | $9.3M | -$10.7M | -$5.9M | -$6.1M | -$12.3M | -$39.4M | $9.2M |
| Net margin | 13.1% | −162.4% | −69.5% | 82.6% | −38.5% | 165.2% | −169.3% | −124.9% | −178.4% | −354.3% | −1246.9% | 1135.2% |
| Diluted EPS | $0.08 | $-0.17 | $-0.07 | $0.08 | $-0.20 | $0.17 | $-0.20 | $-0.11 | $-0.11 | $-0.23 | $-0.74 | $0.17 |
| EBITDA | $25.3M | -$1.9M | -$2.5M | -$2.4M | -$12.8M | -$2.8M | -$2.6M | -$3.6M | -$4.7M | -$4.3M | -$5.4M | -$5.7M |
| Operating cash flow | $63.5M | -$56.6M | $4.6M | $3.8M | $4.9M | $8.0M | $7.1M | $8.4M | $8.7M | $11.4M | -$27.1M | $50.7M |
| Free cash flow | $62.6M | -$57.1M | $4.3M | $3.4M | $4.0M | $8.0M | $6.7M | $8.4M | $8.7M | $11.4M | -$27.1M | $50.7M |
| Diluted shares | 56.4M | 55.3M | 53.2M | 55.8M | 54.9M | 55.7M | 54.5M | 54.5M | 54.4M | 54.4M | 53.4M | 54.8M |
Balance sheet
| Period end | Jun 30 | Mar 31 | Dec 31 | Sep 30 | Jun 30 | Mar 31 |
|---|---|---|---|---|---|---|
| Cash & equivalents | $17.6M | $86.2M | $29.3M | $84.9M | $90.0M | $125.5M |
| Short-term investments | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Total debt | $1.26B | $1.27B | $1.05B | $809.9M | $888.2M | $944.8M |
| Total assets | $1.82B | $1.84B | $1.62B | $1.39B | $1.44B | $1.52B |
| Total liabilities | $1.33B | $1.34B | $1.11B | $870.9M | $914.9M | $977.5M |
| Shareholders' equity | $489.2M | $492.4M | $509.6M | $521.0M | $523.7M | $542.1M |
From SEC filings via Massive. Fiscal periods follow the company's own calendar; free cash flow is operating cash flow minus capital expenditure.
Sources: Massive / Polygon daily aggregates (split-adjusted) · SEC filings via Massive · FINRA settlements via Massive · Financial Modeling Prep. Figures are dated where shown; research is informational, not investment advice. Methodology