v3.26.3
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Sep. 30, 2026
Sep. 30, 2025
Net interest income        
Interest income $ 56,168 $ 48,889 $ 157,760 $ 145,638
Interest expense (37,905) (31,364) (106,146) (95,510)
Net interest income 18,263 17,525 51,614 50,128
Property and other income        
Property operating income 30,837 32,536 93,923 95,063
Other income 350 2,513 4,360 6,724
Total property and other income 31,187 35,049 98,283 101,787
Expenses        
Property operating expense 19,161 19,675 57,750 46,293
Transaction, investment and servicing expense 1,380 854 3,719 2,046
Interest expense on real estate 4,655 5,170 14,868 18,499
Depreciation and amortization 4,084 7,188 20,897 28,346
Increase of current expected credit loss reserve 15,039 8,215 30,286 8,562
Impairment of operating real estate 5,986 2,509 15,256 53,636
Compensation and benefits (including $3,581, $2,794, $9,942, and $9,920 of equity-based compensation expense, respectively) 9,197 8,077 27,242 26,700
Operating expense 3,055 2,857 9,308 9,048
Total expenses 62,557 54,545 179,326 193,130
Other income (loss)        
Other gain (loss), net 60,322 538 60,291 (3,065)
Income (loss) before equity in earnings of unconsolidated ventures and income (loss) taxes 47,215 (1,433) 30,862 (44,280)
Equity in earnings (loss) of unconsolidated ventures 0 0 (602) 0
Income tax benefit (expense) 19 129 (85) 21,511
Net income (loss) 47,234 (1,304) 30,175 (22,769)
Net income (loss) attributable to noncontrolling interests in investment entities (300) 2,288 3,272 5,976
Net income (loss) attributable to BrightSpire Capital, Inc. common stockholders $ 46,934 $ 984 $ 33,447 $ (16,793)
Net income (loss) per common share - basic (in dollars per share) $ 0.37 $ 0.00 $ 0.25 $ (0.14)
Net income (loss) per common share - diluted (in dollars per share) $ 0.37 $ 0.00 $ 0.25 $ (0.14)
Weighted average shares of common stock outstanding - basic (in shares) 122,318,000 126,940,000 124,974,000 127,089,000
Weighted average shares of common stock outstanding - diluted (in shares) 122,900,000 129,845,000 125,953,000 127,089,000