BrightSpire Capital, Inc. (BRSP) Income Statement
BRSP 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsBRSP revenue and net income
Where BRSP's revenue goes
2025Each bar shows an amount and its share of revenue. BRSP kept −9.4% of revenue as net income.
BRSP profit margins
BRSP growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −4.5% | −2.6% | −4.8% | +11.4% |
| Gross profit | +3.3% | −5.2% | −5.0% | +4.0% |
| Operating income | — | +41.0% | +46.2% | +3.3% |
| Net income | — | — | — | — |
| EPS (diluted) | −15.6% | −12.8% | −8.1% | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
BRSP quarterly EPS vs estimates
BrightSpire Capital beat the analyst EPS estimate in 3 of the last 8 quarters. Next report: October 27, 2026 (estimate $0.11).
BRSP income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $331.6M | $347.2M | $392.1M | $358.5M | $323.1M | $424.3M | $549.3M | $473.4M | $164.0M | $141.7M |
| Cost of revenue | $167.0M | $187.8M | $199.9M | $165.5M | $131.2M | $212.0M | $310.5M | $253.1M | $29.0M | $26.9M |
| Gross profit | $164.6M | $159.4M | $192.2M | $193.1M | $191.9M | $212.4M | $238.8M | $220.3M | $135.0M | $114.7M |
| Research & development | — | — | $0 | $0 | $0 | $1 | $1 | $0 | $1 | — |
| Sales, general & admin | $35.0M | $34.6M | $39.5M | $33.0M | $64.2M | $56.3M | $74.3M | $69.8M | $12.7M | $15.4M |
| Total operating expenses | $33.7M | $211.2M | $180.4M | $146.3M | $92.2M | $192.8M | $395.8M | $271.1M | $3.1M | −$5.8M |
| Operating income | $130.9M | −$51.8M | $11.8M | $46.7M | $99.6M | $19.6M | −$157.0M | −$50.8M | $131.9M | $120.6M |
| Interest expense | $127.3M | $27.0M | $25.9M | $28.7M | $32.3M | $48.9M | $55.4M | $43.4M | $5.1M | $0 |
| Income before taxes | −$52.6M | −$134.5M | −$14.6M | $49.2M | −$98.3M | −$386.5M | −$496.4M | −$140.3M | $130.1M | $110.5M |
| Income taxes | −$21.5M | $1.1M | $1.1M | $2.4M | $6.3M | −$10.9M | $3.2M | $37.1M | $2.2M | $1.5M |
| Net income | −$31.1M | −$132.0M | −$15.5M | $45.8M | −$101.0M | −$353.3M | −$414.5M | −$168.5M | $88.5M | $76.1M |
| EBITDA | $111.0M | −$66.9M | $35.9M | $112.0M | $101.6M | −$142.6M | −$337.7M | −$29.6M | $109.4M | $136.8M |
| EPS (diluted) | $0.65 | $0.77 | $1.08 | $0.98 | $0.87 | $0.99 | $0.19 | −$0.64 | $0.50 | $0.59 |
| Gross margin | 49.6% | 45.9% | 49.0% | 53.9% | 59.4% | 50.0% | 43.5% | 46.5% | 82.3% | 81.0% |
| Operating margin | 39.5% | −14.9% | 3.0% | 13.0% | 30.8% | 4.6% | −28.6% | −10.7% | 80.4% | 85.1% |
| Net margin | −9.4% | −38.0% | −4.0% | 12.8% | −31.3% | −83.3% | −75.5% | −35.6% | 54.0% | 53.7% |
| 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 | $83.5M | $82.2M | $83.2M | $81.4M | $84.3M | $77.6M | $83.5M | $85.6M | $88.5M | $92.7M | $102.8M | $99.9M |
| Cost of revenue | $41.5M | $53.5M | $41.5M | $51.0M | $48.6M | $32.2M | $29.4M | $47.3M | $46.0M | $48.8M | $39.9M | $51.0M |
| Gross profit | $42.0M | $28.7M | $41.7M | $30.4M | $35.7M | $45.4M | $54.1M | $38.3M | $42.5M | $43.9M | $62.9M | $48.8M |
| Sales, general & admin | $9.0M | $9.1M | $29.9M | $8.1M | $8.2M | $13.6M | $8.1M | $8.2M | $9.6M | $8.8M | $9.4M | $12.0M |
| Total operating expenses | $17.5M | $22.5M | $18.8M | $26.3M | $22.4M | $41.1M | $10.8M | $22.3M | $61.4M | $96.8M | $12.5M | $31.8M |
| Operating income | $24.6M | $6.2M | $22.9M | $4.0M | $13.4M | $4.2M | $43.3M | $16.1M | −$18.9M | −$52.9M | $50.4M | $17.1M |
| Interest expense | $34.8M | $5.1M | $56.9M | $31.4M | $6.8M | $32.2M | $6.7M | $6.7M | $6.7M | $6.8M | $6.8M | $6.8M |
| Income before taxes | −$24.8M | $3.2M | −$14.3M | −$1.4M | −$46.8M | $4.0M | −$20.8M | $11.7M | −$68.5M | −$56.9M | −$16.1M | $12.6M |
| Income taxes | −$4.6M | $94,000 | $10,000 | −$129,000 | −$21.7M | $282,000 | $369,000 | $244,000 | $194,000 | $252,000 | $203,000 | $158,000 |
| Net income | −$18.3M | $4.8M | −$14.4M | $984,000 | −$23.1M | $5.3M | −$19.7M | $12.7M | −$67.9M | −$57.1M | −$16.3M | $12.4M |
| EBITDA | $22.9M | $16.9M | $25.4M | $10.9M | −$29.5M | $16.5M | $42.1M | $28.5M | −$52.8M | −$39.6M | $49.3M | $28.3M |
| EPS (diluted) | $0.10 | $0.14 | $0.15 | $0.16 | $0.18 | $0.16 | $0.18 | $0.14 | $0.22 | $0.23 | $0.28 | $0.28 |
| Gross margin | 50.3% | 34.9% | 50.1% | 37.3% | 42.4% | 58.5% | 64.8% | 44.8% | 48.1% | 47.4% | 61.2% | 48.9% |
| Operating margin | 29.4% | 7.5% | 27.6% | 5.0% | 15.9% | 5.5% | 51.9% | 18.8% | −21.4% | −57.1% | 49.1% | 17.1% |
| Net margin | −21.9% | 5.9% | −17.3% | 1.2% | −27.4% | 6.9% | −23.7% | 14.9% | −76.7% | −61.6% | −15.9% | 12.4% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in BRSP's financial statements (latest annual report filed February 18, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
BRSP financial results
In fiscal year 2025 (ended December 31, 2025), BrightSpire Capital reported revenue of $331.6 million, down 4.5% from the year before. It had a net loss of $31.1 million, a net profit margin of −9.4%. Diluted earnings per share came to $0.65. Over five years revenue grew at an average rate of −4.8% a year.
See the BRSP stock overview for the latest quote and news, or the BRSP chart for price history and technical indicators.
BRSP income statement FAQ
What is BrightSpire Capital's annual revenue?
BrightSpire Capital reported total revenue of $331.6 million for fiscal year 2025, which ended on December 31, 2025. That was down 4.5% from $347.2 million the previous year.
Is BrightSpire Capital profitable?
No. BrightSpire Capital reported a net loss of $31.1 million in fiscal 2025, a net profit margin of −9.4%; its operating margin was 39.5%.
What is BrightSpire Capital's gross margin?
BrightSpire Capital's gross margin was 49.6% in fiscal 2025: for every $100 of revenue, BrightSpire Capital kept $50 after the direct cost of its products and services.
How fast is BrightSpire Capital growing?
Revenue grew −4.8% a year on average over the last five fiscal years, from $424.3 million to $331.6 million.
What are BrightSpire Capital's earnings per share?
BrightSpire Capital earned $0.65 per diluted share in fiscal 2025, compared with $0.77 a year earlier.
When will BrightSpire Capital report its next earnings?
BrightSpire Capital is expected to report results for the quarter ending September 30, 2026 on October 27, 2026 after the market closes.
When does BrightSpire Capital's fiscal year end?
BrightSpire Capital's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 18, 2026.