Company: NREF
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001786248-25-000004
Chunk: 14

Company: NexPoint Real Estate Finance, Inc.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 9C
Chunk 14
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36,820)Balances, December 31, 20241,645,0001617,461,129174387,892(54,948)——3,25595$336,484 

See Notes to Consolidated Financial Statements

F-6

Table of Contents

 NEXPOINT REAL ESTATE FINANCE, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

(in thousands)

For the Year Ended December 31,202420232022Cash flows from operating activitiesNet income$35,962 $18,740 $14,214 Adjustments to reconcile net income to net cash provided by operating activities:Amortization of premiums36,452 15,301 20,840 Accretion of discounts(27,197)(13,877)(13,312)Depreciation and amortization of real estate investment5,613 2,465 2,895 Amortization of deferred financing costs47 (45)48 Change in fair value on interest rate caps included in other assets(2,479)(1,675)— Net cash received (paid) on interest rate caps605 (440)— Provision for (reversal of) credit losses(723)4,299 169 Net change in unrealized (gain) loss on investments held at fair value7,889 16,820 44,765 Net realized (gain) loss(11,230)— 1,084 Equity in (income) losses of unconsolidated equity method ventures3,951 2,564 — Gain on deconsolidation of variable interest entity— (1,490)— Stock-based compensation expense6,073 4,411 3,286 Payment in kind income(14,486)(8,990)(715)Loss (gain) on extinguishment of debt488 — (17)Changes in operating assets and liabilities:Accrued interest and dividends receivable(19,184)(4,319)(10,247)Accounts receivable and other assets4,636 (354)(433)Accrued interest payable1,811 338 2,914 Accounts payable, accrued expenses and other liabilities1,056 (2,192)310 Net cash provided by operating activities29,284 31,556 65,801 Cash flows from investing activitiesProceeds from payments received on mortgage loans held