Claros Mortgage Trust, Inc. (CMTG) Income Statement
CMTG 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsCMTG revenue and net income
Where CMTG's revenue goes
2025Each bar shows an amount and its share of revenue. CMTG kept −113.6% of revenue as net income.
CMTG profit margins
CMTG growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +152.2% | +16.8% | +9.5% | — |
| Gross profit | — | — | — | — |
| Operating income | — | — | — | — |
| Net income | — | — | — | — |
| 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.
CMTG quarterly EPS vs estimates
Claros Mortgage beat the analyst EPS estimate in 0 of the last 8 quarters. Next report: November 4, 2026 (estimate $-0.75).
CMTG income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $430.5M | $170.7M | $129.8M | $270.2M | $215.0M | $273.1M | $249.7M | $167.2M |
| Cost of revenue | $804.7M | $106.0M | $49.5M | $84.4M | $42.6M | $46.7M | $42.8M | $28.1M |
| Gross profit | −$374.2M | −$48.8M | $80.3M | $270.2M | $215.0M | $273.1M | $249.7M | $139.1M |
| Research & development | — | — | $0 | $0 | $1 | $1 | $1 | $1 |
| Sales, general & admin | $34.1M | $15.7M | $49.8M | $26.1M | $21.4M | $61.4M | $75.7M | $32.4M |
| Total operating expenses | $114.9M | $70.0M | $72.9M | $270.2M | $215.0M | −$70.7M | −$81.0M | $28.3M |
| Operating income | −$489.1M | −$190.4M | $107.5M | $160.9M | $170.6M | $202.4M | $168.8M | $134.7M |
| Interest income | $389.5M | $601.4M | $697.9M | $470.7M | $415.3M | $445.9M | $389.4M | — |
| Interest expense | $338.1M | $467.0M | $494.1M | $261.1M | $196.2M | $172.2M | $139.7M | $0 |
| Income before taxes | −$489.1M | −$221.3M | $6.0M | $112.2M | $170.4M | $205.7M | $174.0M | $138.9M |
| Income taxes | — | — | $8.6M | −$1.7M | −$164,000 | $3.3M | $5.3M | $134.7M |
| Net income | −$489.1M | −$221.3M | $6.0M | $112.1M | $170.6M | $202.4M | $168.8M | $131.5M |
| EBITDA | −$477.1M | −$188.9M | $185.7M | $120.2M | $177.5M | $202.4M | $168.8M | $141.1M |
| EPS (diluted) | −$1.90 | −$0.68 | $0.37 | $1.34 | $1.31 | $1.55 | $1.07 | $0.84 |
| Gross margin | −86.9% | −28.6% | 61.9% | 100.0% | 100.0% | 100.0% | 100.0% | 83.2% |
| Operating margin | −113.6% | −111.5% | 82.8% | 59.5% | 79.3% | 74.1% | 67.6% | 80.6% |
| Net margin | −113.6% | −129.6% | 4.6% | 41.5% | 79.3% | 74.1% | 67.6% | 78.6% |
| 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 | $310,000 | $29.8M | $75.2M | $132.8M | $133.6M | $132.6M | $23.6M | $0 | $65.1M | $43.2M | $64.5M | $75.0M |
| Cost of revenue | $40.4M | $38.8M | $282.6M | $105.5M | $271.5M | $130.3M | $16.4M | $14.7M | $25.8M | $70.0M | −$5.4M | $110.2M |
| Gross profit | −$40.0M | −$9.0M | −$207.4M | $27.3M | −$137.9M | $2.3M | $7.2M | −$35.5M | $39.2M | $43.2M | $64.5M | $75.0M |
| Sales, general & admin | $4.7M | $3.2M | $8.1M | $6.9M | $5.0M | $4.3M | $17.0M | $17.7M | $17.9M | $8.2M | $8.1M | $7.9M |
| Total operating expenses | $206.7M | $30.2M | $11.8M | $36.9M | $42.7M | $37.6M | $17.0M | $17.7M | $21.4M | $43.2M | $64.5M | $75.0M |
| Operating income | −$246.8M | −$39.2M | −$219.2M | −$9.5M | −$180.6M | −$35.4M | −$9.8M | −$53.2M | −$8.0M | −$24.0M | $65.7M | −$43.4M |
| Interest income | $46.3M | $59.0M | $74.4M | $88.9M | $108.1M | $118.0M | $132.6M | $152.9M | $155.1M | $160.8M | $170.9M | $182.0M |
| Interest expense | $46.6M | $9.2M | $71.0M | $81.3M | $82.0M | $89.2M | $106.6M | $118.0M | $120.1M | $122.3M | $127.4M | $129.7M |
| Income before taxes | −$255.4M | −$54.3M | −$219.2M | −$9.5M | −$181.7M | −$78.6M | −$100.7M | −$56.2M | −$11.6M | −$52.8M | $34.0M | −$68.9M |
| Income taxes | — | — | — | — | — | — | −$2.2M | — | — | $2.2M | $85.7M | $2.6M |
| Net income | −$255.4M | −$54.3M | −$219.2M | −$9.5M | −$181.7M | −$78.6M | −$100.7M | −$56.2M | −$11.6M | −$52.8M | $34.0M | −$68.9M |
| EBITDA | −$240.1M | −$38.4M | −$213.2M | −$9.3M | −$179.4M | −$34.6M | −$90.5M | −$46.0M | −$667,000 | −$41.2M | $43.9M | $50.0M |
| EPS (diluted) | −$0.64 | −$0.52 | −$0.72 | −$0.16 | −$0.77 | −$0.25 | −$0.59 | −$0.17 | $0.20 | −$0.12 | $0.26 | −$0.50 |
| Gross margin | −12,917.7% | −30.1% | −275.9% | 20.6% | −103.2% | 1.7% | 30.6% | — | 60.3% | 100.0% | 100.0% | 100.0% |
| Operating margin | −79,607.1% | −131.4% | −291.5% | −7.2% | −135.1% | −26.7% | −41.7% | — | −12.3% | −55.7% | 101.7% | −57.8% |
| Net margin | −82,397.1% | −182.1% | −291.5% | −7.2% | −136.0% | −59.3% | −427.0% | — | −17.8% | −122.3% | 52.8% | −91.9% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in CMTG's financial statements (latest annual report filed February 18, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
CMTG financial results
In fiscal year 2025 (ended December 31, 2025), Claros Mortgage reported revenue of $430.5 million, up 152.2% from the year before. It had a net loss of $489.1 million, a net profit margin of −113.6%. Diluted earnings per share came to −$1.90. Over five years revenue grew at an average rate of 9.5% a year.
See the CMTG stock overview for the latest quote and news, or the CMTG chart for price history and technical indicators.
CMTG income statement FAQ
What is Claros Mortgage's annual revenue?
Claros Mortgage reported total revenue of $430.5 million for fiscal year 2025, which ended on December 31, 2025. That was up 152.2% from $170.7 million the previous year.
Is Claros Mortgage profitable?
No. Claros Mortgage reported a net loss of $489.1 million in fiscal 2025, a net profit margin of −113.6%; its operating margin was −113.6%.
What is Claros Mortgage's gross margin?
Claros Mortgage's gross margin was −86.9% in fiscal 2025: for every $100 of revenue, Claros Mortgage kept $-87 after the direct cost of its products and services.
How fast is Claros Mortgage growing?
Revenue grew 9.5% a year on average over the last five fiscal years, from $273.1 million to $430.5 million.
What are Claros Mortgage's earnings per share?
Claros Mortgage earned $-1.90 per diluted share in fiscal 2025, compared with $-0.68 a year earlier.
When will Claros Mortgage report its next earnings?
Claros Mortgage is expected to report results for the quarter ending September 30, 2026 on November 4, 2026 after the market closes.
When does Claros Mortgage's fiscal year end?
Claros Mortgage's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 18, 2026.