Company: NREF
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001786248-25-000004
Chunk: 510

Company: NexPoint Real Estate Finance, Inc.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 10
Chunk 510
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Table of Contents

Results of Operations for the Years Ended December 31, 2024 and 2023

The following table sets forth a summary of our operating results for the years ended December 31, 2024 and 2023 (in thousands):

For the Year Ended December 31,$ Change% Change20242023Net interest income$28,136$16,798$11,33867.5 %Other income44,467 25,292 19,175 75.8 %Operating expenses(36,641)(23,350)(13,291)56.9 %Net income35,962 18,740 17,222 91.9 %Net (income) loss attributable to Series A Preferred stockholders(3,496)(3,496)— — %Net (income) loss attributable to Series B Preferred stockholders(8,003)(80)(7,923)N/ANet (income) loss attributable to redeemable noncontrolling interests(6,770)(4,765)(2,005)42.1 %Net income attributable to common stockholders$17,693 $10,399 $7,294 70.1 %

The change in our net income for the year ended December 31, 2024 as compared to the net income for the year ended December 31, 2023 primarily relates to an increase in other income including changes in net assets related to consolidated CMBS VIEs and a lower unrealized loss on common stock investments. Our net income attributable to common stockholders for the year ended December 31, 2024 was approximately $17.7 million. We earned approximately $28.1 million in net interest income, generated income of $44.5 million in other income, incurred operating expenses of $36.6 million, allocated $3.5 million of income to Series A Preferred stockholders, allocated $8.0 million of income to Series B Preferred stockholders, and allocated $6.8 million of income to redeemable non-controlling interests for the year ended December 31, 2024.

Revenues

Net interest income. Net interest income was $28.1 million for the year ended December 31, 2024 compared to $16.8 million for the year ended December 31, 2023 which was an increase of approximately $11.3 million. The increase between the periods is primarily due to additional investments in preferred equity,