Claros Mortgage Trust Inc
For the period ended Jun 30, 2024. Filed Aug 5, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2024 · Filed Aug 5, 2024
CMTG$1.72+4.9%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Operations
(unaudited, in thousands, except share and per share data)
| Three Months Ended | Six Months Ended | |||
|---|---|---|---|---|
| June 30, 2024 | June 30, 2023 | June 30, 2024 | June 30, 2023 | |
| Revenue | ||||
| Interest and related income | $155,131 | $180,735 | $315,976 | $344,901 |
| Less: interest and related expense | 113,225 | 119,676 | 229,156 | 225,703 |
| Net interest income | 41,906 | 61,059 | 86,820 | 119,198 |
| Revenue from real estate owned | 22,581 | 19,866 | 36,492 | 30,829 |
| Total net revenue | 64,487 | 80,925 | 123,312 | 150,027 |
| Expenses | ||||
| Management fees - affiliate | 9,011 | 9,641 | 18,221 | 19,297 |
| Incentive fees - affiliate | - | - | - | 1,558 |
| General and administrative expenses | 4,845 | 4,492 | 8,722 | 9,417 |
| Stock-based compensation expense | 3,999 | 4,395 | 8,352 | 7,761 |
| Real estate owned: | ||||
| Operating expenses | 13,859 | 11,269 | 26,739 | 21,268 |
| Interest expense | 6,869 | 5,865 | 13,198 | 11,309 |
| Depreciation and amortization | 2,623 | 2,092 | 5,222 | 4,150 |
| Total expenses | 41,206 | 37,754 | 80,454 | 74,760 |
| Proceeds from interest rate cap | 228 | 1,495 | 1,093 | 2,678 |
| Unrealized loss on interest rate cap | (94) | (259) | (1,092) | (1,662) |
| (Loss) income from equity method investment | (42) | (895) | (77) | 668 |
| (Loss) gain on extinguishment of debt | (999) | 2,217 | (3,243) | 2,217 |
| Provision for current expected credit loss reserve | (33,928) | (41,476) | (103,888) | (38,237) |
| Net (loss) income | (11,554) | 4,253 | (64,349) | 40,931 |
| Net (loss) income per share of common stock: | ||||
| Basic and diluted | $(0.09) | $0.02 | $(0.48) | $0.28 |
| Weighted average shares of common stock outstanding: | ||||
| Basic and diluted | 139,078,117 | 138,399,446 | 138,934,615 | 138,392,666 |
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