Company: NXDT
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001356115-25-000021
Chunk: 17

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-08-14
Form: 10-Q
Item: Item 2
Chunk 17
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 the Three Months Ended June 30For the Six Months Ended June 302025202420252024Net loss$(44,088)$(10,522)$(79,194)$(32,070)Adjustments to reconcile net loss to NOI:Advisory and administrative fees7,020 3,443 10,662 6,689 Corporate general and administrative expenses1,020 3,195 3,947 6,030 Income tax expense(641)303 572 853 Depreciation and amortization4,028 4,102 7,937 6,898 Interest expense6,637 7,851 13,913 12,382 Non-operating property investment revenue¹(9,977)(8,904)(23,939)(17,635)Realized (gains) losses from non-real estate investments(3,462)3 (4,981)21,875 Change in unrealized (gains) losses from non-real estate investments41,637 3,154 74,959 (3,136)Equity in (income) losses of unconsolidated equity method ventures(190)(196)167 958 Impairment loss— — 1,752 — NOI$1,984 $2,429 $5,795 $2,844 Less Non-Same StoreRevenues$(10,582)$(12,986)$(25,361)$(16,739)Operating expenses8,941 10,805 20,098 14,312 Operating income(26)— (37)— Same Store NOI$317 $247 $495 $418 

(1)Non-operating property investment revenue is defined as revenue included in the consolidated financial statements that are from non-operating properties such as dividend income and interest income.

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The following table, which has not been adjusted for the effects of NCI, reconciles our NOI for each of our segments for the three and six months ended June 30, 2025 to net income (loss), the most directly comparable GAAP financial measure by reportable segment (in thousands):

For the Three Months Ended June 30,For the Six Months Ended June 30,20252025DiversifiedHospitalityTotalDiversifiedHospitalityTotalNet loss$(40,485)$(3,603)$(44,088)$(71,395)