v3.25.4
Consolidated Statement of Operations (Unaudited) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Revenues      
Rental revenue $ 37,003 $ 21,657 $ 6,912
Total revenues 37,003 21,657 6,912
Expenses      
Rental property operating 8,527 4,960 834
General and administrative 7,054 6,197 5,380
Management fee 12,212 7,832 3,440
Performance participation allocation 389 443 562
Depreciation and amortization 16,594 8,996 2,544
Total expenses 44,776 28,428 12,760
Other income      
Income from investments in real estate debt 91,406 62,094 17,490
Other income 3,900 5,558 6,241
Interest expense (20,083) (10,372) (554)
Total other income 75,223 57,280 23,177
Net income 67,450 50,509 17,329
Net income attributable to non-controlling interests in the Operating Partnership 6,166 6,928 4,570
Net income attributable to preferred stockholders 15 14 0
Net income attributable to ARIS stockholders $ 61,269 $ 43,567 $ 12,759
Net income per share of common stock, basic $ 1.08 $ 1.29 $ 1.08
Net income per share of common stock, diluted $ 1.08 $ 1.29 $ 1.08
Weighted-average shares of common stock outstanding, basic 56,957,094 33,757,803 11,847,675
Weighted-average shares of common stock outstanding, diluted 56,960,632 33,761,427 11,850,738