v3.26.1
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Net interest income        
Interest income $ 52,077 $ 48,663 $ 101,592 $ 96,749
Interest expense (34,848) (31,935) (68,241) (64,146)
Net interest income 17,229 16,728 33,351 32,603
Property and other income        
Property operating income 30,432 35,668 63,086 62,526
Other income 1,039 1,593 4,010 4,211
Total property and other income 31,471 37,261 67,096 66,737
Expenses        
Property operating expense 18,511 16,650 38,589 26,616
Transaction, investment and servicing expense 1,507 562 2,339 1,192
Interest expense on real estate 5,121 6,765 10,213 13,330
Depreciation and amortization 8,187 10,607 16,814 21,159
Increase of current expected credit loss reserve 13,502 582 15,247 346
Impairment of operating real estate 9,270 51,127 9,270 51,127
Compensation and benefits (including $3,443, $2,913, $6,361 and $7,126 of equity-based compensation expense, respectively) 8,989 8,194 18,045 18,623
Operating expense 3,158 2,976 6,253 6,191
Total expenses 68,245 97,463 116,770 138,584
Other income        
Other loss, net (27) (3,362) (31) (3,603)
Loss before equity in earnings of unconsolidated ventures and income taxes (19,572) (46,836) (16,354) (42,847)
Equity in earnings (loss) of unconsolidated ventures (602) 0 (602) 0
Income tax benefit (expense) (10) 21,664 (104) 21,382
Net income (loss) (20,184) (25,172) (17,060) (21,465)
Net loss attributable to noncontrolling interests in investment entities 1,850 2,054 3,572 3,688
Net loss attributable to BrightSpire Capital, Inc. common stockholders $ (18,334) $ (23,118) $ (13,488) $ (17,777)
Net loss per common share - basic (in dollars per share) $ (0.15) $ (0.19) $ (0.12) $ (0.15)
Net loss per common share - diluted (in dollars per share) $ (0.15) $ (0.19) $ (0.12) $ (0.15)
Weighted average shares of common stock outstanding - basic (in shares) 126,710,000 127,247,000 126,324,000 127,165,000
Weighted average shares of common stock outstanding - diluted (in shares) 126,710,000 127,247,000 126,324,000 127,165,000