Bluerock Homes Trust, Inc. (BHM) Income Statement
BHM 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsBHM revenue and net income
Where BHM's revenue goes
2025Each bar shows an amount and its share of revenue. BHM kept 3.3% of revenue as net income.
BHM profit margins
BHM growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +36.9% | +17.2% | +56.3% | — |
| Gross profit | −419.6% | — | — | — |
| Operating income | — | — | — | — |
| Net income | +6,931.2% | — | — | — |
| EPS (diluted) | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
BHM quarterly EPS vs estimates
Bluerock Homes beat the analyst EPS estimate in 0 of the last 3 quarters. Next report: November 5, 2026.
BHM income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|
| Revenue | $68.7M | $50.2M | $41.1M | $42.7M | $17.8M | $7.4M |
| Cost of revenue | $107.9M | $38.0M | $31.5M | $19.2M | $3.8M | $970,000 |
| Gross profit | −$39.1M | $12.2M | $9.6M | $23.6M | $14.0M | $6.4M |
| Research & development | — | — | $0 | $0 | $0 | $2 |
| Sales, general & admin | $11.2M | $10.6M | $8.2M | $8.9M | $4.6M | $5.0M |
| Total operating expenses | −$15.9M | $30.6M | $24.3M | $8.5M | $13.7M | $6.9M |
| Operating income | −$23.3M | −$18.4M | −$14.7M | $15.1M | $389,000 | −$511,000 |
| Interest income | $5.3M | $5.4M | $2.6M | $2.9M | $275,000 | $1.8M |
| Interest expense | $21.6M | $18.1M | $13.1M | $5.7M | $2.9M | $3.2M |
| Income before taxes | −$31.0M | −$12.1M | −$15.8M | −$6.2M | $945,000 | −$14.8M |
| Income taxes | $1.6M | $7.9M | −$11.4M | $228,000 | −$92.8M | $11.2M |
| Net income | $2.2M | $32,000 | −$4.4M | −$1.0M | $34.3M | −$17.7M |
| EBITDA | $22.3M | $27.6M | $16.6M | $17.8M | $13.4M | $4.0M |
| EPS (diluted) | −$3.00 | −$1.10 | −$0.94 | −$2.91 | $8.96 | — |
| Gross margin | −56.9% | 24.4% | 23.3% | 55.1% | 78.8% | 86.8% |
| Operating margin | −33.8% | −36.6% | −35.9% | 35.3% | 2.2% | −6.9% |
| Net margin | 3.3% | 0.1% | −10.6% | −2.3% | 192.6% | −240.7% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $19.3M | $19.7M | $18.9M | $16.6M | $16.8M | $16.4M | $17.4M | $12.7M | $12.5M | $11.2M | $13.5M | $10.2M |
| Cost of revenue | $29.6M | $31.0M | −$16.6M | $12.7M | $12.1M | $11.5M | $8.2M | $10.0M | $7.1M | $8.2M | $6.1M | $6.2M |
| Gross profit | −$10.2M | −$11.3M | $35.5M | $3.9M | $4.7M | $4.9M | $9.2M | $2.7M | $5.4M | $3.0M | $7.4M | $4.0M |
| Sales, general & admin | $2.5M | $3.1M | $2.8M | $2.7M | $2.7M | $3.1M | $5.3M | $2.5M | $4.7M | $2.9M | $4.7M | $1.7M |
| Total operating expenses | −$4.6M | −$5.4M | −$5.6M | $9.5M | $9.9M | $10.4M | $5.0M | $7.6M | $9.5M | $7.0M | $4.7M | $7.8M |
| Operating income | −$5.6M | −$5.9M | $41.2M | −$5.6M | −$5.2M | −$5.6M | $4.2M | −$4.8M | −$4.1M | −$4.0M | $2.7M | −$3.8M |
| Interest income | $1.3M | $1.3M | $1.4M | $1.5M | $1.2M | $1.1M | $1.5M | $1.6M | $1.1M | $1.2M | — | $923,000 |
| Interest expense | $6.3M | $6.2M | $4.1M | $5.7M | $5.6M | $6.2M | $5.3M | $5.2M | $4.1M | $3.5M | $4.4M | $3.5M |
| Income before taxes | −$9.0M | −$10.2M | −$9.2M | −$9.6M | −$5.2M | −$7.0M | −$7.3M | $3.5M | −$5.2M | −$3.2M | −$5.7M | −$3.6M |
| Income taxes | −$5.5M | $76,000 | $260,000 | $400,000 | $626,000 | $346,000 | — | — | −$4.3M | −$2.4M | −$4.2M | $2.8M |
| Net income | $808,000 | $169,000 | $820,000 | $383,000 | $1.0M | $4,000 | −$645,000 | $2.3M | −$889,000 | −$767,000 | −$1.4M | −$1.1M |
| EBITDA | $5.9M | $5.5M | $3.4M | $3.4M | $8.2M | $7.4M | $3.1M | $14.1M | $4.1M | $4.7M | $527,000 | $4.9M |
| EPS (diluted) | −$0.17 | $0.10 | −$0.72 | −$0.94 | −$0.67 | −$0.67 | −$0.65 | $0.24 | −$0.42 | −$0.27 | −$0.53 | −$0.28 |
| Gross margin | −53.0% | −57.5% | 188.0% | 23.7% | 27.9% | 29.8% | 52.8% | 21.4% | 43.2% | 26.6% | 55.0% | 39.0% |
| Operating margin | −29.1% | −30.0% | 217.8% | −33.5% | −31.0% | −33.8% | 24.0% | −38.1% | −32.7% | −35.8% | 20.1% | −37.3% |
| Net margin | 4.2% | 0.9% | 4.3% | 2.3% | 6.2% | 0.0% | −3.7% | 18.4% | −7.1% | −6.9% | −10.7% | −10.4% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in BHM's financial statements (latest annual report filed February 27, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
BHM financial results
In fiscal year 2025 (ended December 31, 2025), Bluerock Homes reported revenue of $68.7 million, up 36.9% from the year before. It had net income of $2.2 million (up 6,931.2%), a net profit margin of 3.3%. Diluted earnings per share came to −$3.00. Over five years revenue grew at an average rate of 56.3% a year.
See the BHM stock overview for the latest quote and news, or the BHM chart for price history and technical indicators.
BHM income statement FAQ
What is Bluerock Homes's annual revenue?
Bluerock Homes reported total revenue of $68.7 million for fiscal year 2025, which ended on December 31, 2025. That was up 36.9% from $50.2 million the previous year.
Is Bluerock Homes profitable?
Yes. Bluerock Homes reported net income of $2.2 million in fiscal 2025, a net profit margin of 3.3%; its operating margin was −33.8%.
What is Bluerock Homes's gross margin?
Bluerock Homes's gross margin was −56.9% in fiscal 2025: for every $100 of revenue, Bluerock Homes kept $-57 after the direct cost of its products and services.
How fast is Bluerock Homes growing?
Revenue grew 56.3% a year on average over the last five fiscal years, from $7.4 million to $68.7 million.
What are Bluerock Homes's earnings per share?
Bluerock Homes earned $-3.00 per diluted share in fiscal 2025, compared with $-1.10 a year earlier.
When will Bluerock Homes report its next earnings?
Bluerock Homes is expected to report results for the quarter ending September 30, 2026 on November 5, 2026.
When does Bluerock Homes's fiscal year end?
Bluerock Homes's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 27, 2026.