Claros Mortgage Trust, Inc.
For the period ended Mar 31, 2025. Filed May 7, 2025.
View on SEC.govAbout this filing
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.
Mar 31, 2025 · Filed May 7, 2025
CMTG$1.70-1.2%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Cash Flows
(unaudited, in thousands)
| Three Months Ended | ||
|---|---|---|
| March 31, 2025 | March 31, 2024 | |
| Cash flows from operating activities | ||
| Net loss | $(78,623) | $(52,795) |
| Adjustments to reconcile net loss to net cash (used in) provided by operating activities: | ||
| Accretion of fees and discounts on loans receivable | (2,797) | (4,633) |
| Amortization of deferred financing costs | 6,161 | 5,307 |
| Non-cash stock-based compensation expense | 5,122 | 4,400 |
| Depreciation and amortization on real estate owned and in-place lease values | 438 | 2,599 |
| Amortization of above and below market lease values, net | 354 | 354 |
| Unrealized loss on interest rate cap | - | 998 |
| Loss from equity method investment | 37 | 35 |
| Loss on extinguishment of debt | 547 | 2,244 |
| Loss on real estate owned held-for-sale | 49 | - |
| Non-cash advances on loans receivable in lieu of interest | (14,487) | (11,434) |
| Non-cash advances on secured financings in lieu of interest | 2,188 | 1,979 |
| Repayment of non-cash advances on loans receivable in lieu of interest | 2,423 | 1,371 |
| Provision for current expected credit loss reserve | 41,123 | 69,960 |
| Valuation adjustment for loan receivable held-for-sale | 42,594 | - |
| Changes in operating assets and liabilities: | ||
| Other assets | (15,737) | 3,407 |
| Other liabilities | (6,554) | (2,199) |
| Management fee payable - affiliate | (18,623) | (105) |
| Net cash (used in) provided by operating activities | (35,785) | 21,488 |
| Cash flows from investing activities | ||
| Loan originations, acquisitions and advances, net of fees | (27,404) | (131,920) |
| Advances on loan receivable held-for-sale | (12,079) | - |
| Repayments of loans receivable | 213,001 | 155,789 |
| Proceeds from sales of loans receivable | 100,985 | 261,709 |
| Extension and exit fees received from loans receivable | 341 | 1,502 |
| Reserves and deposits held for loans receivable | - | (5) |
| Capital expenditures on real estate owned | (49) | (465) |
| Net cash provided by investing activities | 274,795 | 286,610 |
Consolidated Statements of Cash Flows
(unaudited, in thousands)
| Three Months Ended | ||||
|---|---|---|---|---|
| March 31, 2025 · March 31, 2024 | ||||
| Cash flows from financing activities | ||||
| Dividends paid | - | (35,328) | ||
| Proceeds from secured financings | 222,776 | 155,487 | ||
| Payment of deferred financing costs | (4,675) | (5,981) | ||
| Payment of exit fees on secured financing | (1,038) | - | ||
| Purchase of interest rate cap | - | (508) | ||
| Repayments of secured financings | (438,794) | (372,980) | ||
| Repayments of secured term loan | (1,907) | (1,907) | ||
| Repayments of debt related to real estate owned | - | (10,000) | ||
| Net cash used in financing activities | (223,638) | (271,217) | ||
| Net increase in cash, cash equivalents and restricted cash | 15,372 | 36,881 | ||
| Cash, cash equivalents and restricted cash, beginning of period | 133,500 | 214,889 | ||
| Cash, cash equivalents and restricted cash, end of period | $148,872 | $251,770 | ||
| Cash and cash equivalents, end of period | $127,829 | $232,514 | ||
| Restricted cash, end of period | 21,043 | 19,256 | ||
| Cash, cash equivalents and restricted cash, end of period | $148,872 | $251,770 | ||
| Supplemental disclosure of cash flow information: | ||||
| Cash paid for interest | $91,871 | $116,590 | ||
| Supplemental disclosure of non-cash investing and financing activities: | ||||
| Dividends accrued | $ | - | $35,622 | |
| Accrued deferred financing costs | $1,851 | $ | - | |
| Accrued deferred leasing costs | $353 | $ | - | |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.