Company: NXDT
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001356115-25-000014
Chunk: 139

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-05-15
Form: 10-Q
Item: Item 5
Chunk 139
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Table of Contents

The following table sets forth a summary of our operating results for the three months ended March 31, 2025 as compared to the three months ended March 31, 2024 (in thousands):  

For the Three Months Ended March 31,20252024$ ChangeTotal revenues$29,074 $12,805 $16,269 Total expenses(23,542)(12,536)(11,006)Operating income5,5322695,263Interest expense(7,276)(4,531)(2,745)Equity in income (losses) of unconsolidated ventures(357)(1,154)797Income tax expense(1,213)(550)(663)Change in unrealized gains (losses)(33,322)6,290(39,612)Realized gains (losses)1,519(21,872)23,391Net income (loss)(35,117)(21,548)(13,569)Net (income) attributable to Series A preferred shareholders(1,155)(1,155)—Net (income) attributable to Series B preferred shareholders(2)— (2)Net (income) loss attributable to noncontrolling interests1,945 — 1,945 Net income (loss) attributable to common shareholders$(34,329)$(22,703)$(11,626)

The net loss for the three months ended March 31, 2025 and 2024 primarily relates to mark-to-market losses on our investments accounted for at fair value partially offset by interest and dividends.

Revenues

Rental income. Rental income was $3.6 million for the three months ended March 31, 2025, compared to $4.0 million for the three months ended March 31, 2024, which was a decrease of approximately $0.4 million. The decrease between the periods was primarily due to a decrease in occupancy at Cityplace.

Rooms revenue. Rooms revenue was $10.4 million for the three months ended March 31, 2025. All rooms revenue is derived from the NHT segment, which was not consolidated prior to April 19, 2024.

Food and beverage revenue. F&B revenue was $0.9 million for the three months ended March 31, 2025. All F&B revenue is derived from the NHT segment, which was not consolidated prior to April 19, 2024.