NETSTREIT Corp. (NTST) Income Statement
NTST 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsNTST revenue and net income
Where NTST's revenue goes
2025Each bar shows an amount and its share of revenue. NTST kept 3.5% of revenue as net income.
NTST profit margins
NTST growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +19.8% | +26.5% | +42.0% | — |
| Gross profit | +21.1% | +28.0% | +44.4% | — |
| Operating income | +39.4% | +66.5% | — | — |
| Net income | — | −5.3% | +56.7% | — |
| EPS (diluted) | — | +7.3% | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
NTST quarterly EPS vs estimates
NETSTREIT beat the analyst EPS estimate in 5 of the last 8 quarters. Next report: October 21, 2026 (estimate $0.33).
NTST income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $195.0M | $162.8M | $131.9M | $96.3M | $59.1M | $33.7M | $20.3M | $23.8M |
| Cost of revenue | $19.4M | $17.8M | $16.9M | $12.5M | $6.5M | $5.7M | $1.7M | $1.7M |
| Gross profit | $175.6M | $145.0M | $115.0M | $83.7M | $52.6M | $28.0M | $18.6M | $22.1M |
| Research & development | — | — | $0 | $0 | $0 | $0 | $0 | $1 |
| Sales, general & admin | $21.7M | $19.7M | $20.2M | $19.1M | $14.8M | $11.3M | $3.6M | $3.8M |
| Total operating expenses | $108.1M | $96.6M | $83.9M | $69.1M | $45.6M | $31.2M | $18.7M | $22.1M |
| Operating income | $67.5M | $48.4M | $31.2M | $14.6M | $7.0M | −$3.2M | −$125,000 | $5.4M |
| Interest income | $12.6M | $11.6M | $7.4M | $2.3M | $0 | — | — | — |
| Interest expense | $57.3M | $48.5M | $35.6M | $12.3M | $3.5M | $4.7M | $10.9M | $11.0M |
| Income before taxes | $7.0M | −$12.0M | $6.8M | $8.6M | $3.2M | $212,000 | −$8.0M | −$20.3M |
| Income taxes | $54,000 | $49,000 | −$49,000 | $396,000 | $59,000 | $4.2M | $12.3M | $25.7M |
| Net income | $6.9M | −$11.9M | $6.8M | $8.1M | $3.0M | $730,000 | −$8.0M | −$20.3M |
| EBITDA | $150.7M | $113.4M | $106.1M | $71.0M | $37.5M | $16.6M | $14.8M | $18.3M |
| EPS (diluted) | $0.21 | −$0.03 | $0.15 | $0.17 | $0.08 | −$0.13 | −$0.33 | — |
| Gross margin | 90.0% | 89.1% | 87.2% | 87.0% | 89.0% | 83.0% | 91.6% | 92.7% |
| Operating margin | 34.6% | 29.7% | 23.6% | 15.2% | 11.9% | −9.4% | −0.6% | 22.8% |
| Net margin | 3.5% | −7.3% | 5.2% | 8.4% | 5.2% | 2.2% | −39.6% | −85.2% |
| 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 | $61.3M | $53.9M | $52.7M | $48.3M | $48.3M | $45.9M | $44.1M | $41.4M | $39.6M | $37.7M | $37.4M | $33.4M |
| Cost of revenue | $5.7M | $5.2M | $5.7M | $4.3M | $4.6M | $4.8M | $5.0M | $4.5M | $4.0M | $4.2M | $5.3M | $4.0M |
| Gross profit | $55.6M | $48.6M | $47.0M | $44.0M | $43.7M | $41.1M | $39.1M | $36.9M | $35.5M | $33.4M | $32.2M | $29.4M |
| Sales, general & admin | $5.8M | $5.8M | $6.0M | $5.1M | $5.5M | $5.2M | $4.5M | $4.3M | $5.3M | $5.7M | $4.9M | $5.1M |
| Total operating expenses | $35.9M | $30.2M | $28.5M | $26.5M | $27.0M | $26.1M | $24.8M | $24.7M | $23.8M | $23.2M | $22.0M | $27.8M |
| Operating income | $19.7M | $18.4M | $18.5M | $17.5M | $16.7M | $15.0M | $14.3M | $12.2M | $11.7M | $10.2M | $10.2M | $1.6M |
| Interest income | $2.9M | $3.0M | $3.1M | $3.3M | $3.1M | $3.1M | $3.1M | $3.3M | $2.7M | $2.5M | $2.2M | $2.2M |
| Interest expense | $15.6M | $14.7M | $15.9M | $14.2M | $14.2M | $13.0M | $12.3M | $12.9M | $12.5M | $10.8M | $10.7M | $9.2M |
| Income before taxes | $6.4M | $5.7M | $1.3M | $633,000 | $3.3M | $1.7M | −$5.4M | −$5.3M | −$2.3M | $1.1M | $2.0M | $4.3M |
| Income taxes | $78,000 | $14,000 | $13,000 | $12,000 | $13,000 | $16,000 | $18,000 | $2,000 | $12,000 | $17,000 | $11,000 | $15,000 |
| Net income | $6.3M | $5.7M | $1.3M | $618,000 | $3.3M | $1.7M | −$5.4M | −$5.3M | −$2.3M | $1.0M | $1.9M | $4.2M |
| EBITDA | $47.8M | $43.4M | $39.8M | $36.3M | $39.0M | $35.6M | $27.3M | $28.0M | $28.7M | $29.4M | $29.7M | $24.3M |
| EPS (diluted) | $0.35 | $0.07 | $0.05 | $0.06 | $0.05 | $0.05 | −$0.07 | $0.06 | −$0.03 | $0.01 | $0.03 | $0.06 |
| Gross margin | 90.7% | 90.3% | 89.2% | 91.1% | 90.6% | 89.4% | 88.7% | 89.1% | 89.8% | 88.8% | 86.0% | 88.0% |
| Operating margin | 32.2% | 34.2% | 35.1% | 36.2% | 34.7% | 32.6% | 32.4% | 29.4% | 29.6% | 27.1% | 27.3% | 4.6% |
| Net margin | 10.3% | 10.6% | 2.5% | 1.3% | 6.8% | 3.7% | −12.2% | −12.8% | −5.8% | 2.8% | 5.2% | 12.6% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in NTST's financial statements (latest annual report filed February 10, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
NTST financial results
In fiscal year 2025 (ended December 31, 2025), NETSTREIT reported revenue of $195.0 million, up 19.8% from the year before. It had net income of $6.9 million, a net profit margin of 3.5%. Diluted earnings per share came to $0.21. Over five years revenue grew at an average rate of 42.0% a year.
See the NTST stock overview for the latest quote and news, or the NTST chart for price history and technical indicators.
NTST income statement FAQ
What is NETSTREIT's annual revenue?
NETSTREIT reported total revenue of $195.0 million for fiscal year 2025, which ended on December 31, 2025. That was up 19.8% from $162.8 million the previous year.
Is NETSTREIT profitable?
Yes. NETSTREIT reported net income of $6.9 million in fiscal 2025, a net profit margin of 3.5%; its operating margin was 34.6%.
What is NETSTREIT's gross margin?
NETSTREIT's gross margin was 90.0% in fiscal 2025: for every $100 of revenue, NETSTREIT kept $90 after the direct cost of its products and services.
How fast is NETSTREIT growing?
Revenue grew 42.0% a year on average over the last five fiscal years, from $33.7 million to $195.0 million.
What are NETSTREIT's earnings per share?
NETSTREIT earned $0.21 per diluted share in fiscal 2025, compared with $-0.03 a year earlier.
When will NETSTREIT report its next earnings?
NETSTREIT is expected to report results for the quarter ending September 30, 2026 on October 21, 2026 after the market closes.
When does NETSTREIT's fiscal year end?
NETSTREIT's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 10, 2026.