BLACKSTONE MORTGAGE TRUST, INC.
For the period ended Dec 31, 2025. Filed Feb 11, 2026.
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FY2025 · Filed Feb 11, 2026
BXMT$11.10-0.7%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Operations for the Years Ended , and
Consolidated Statements of Operations
(in thousands, except share and per share data)
| Year Ended December 31, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| Income from loans and other investments | |||
| Interest and related income | $1,356,401 | $1,769,043 | $2,037,621 |
| Less: Interest and related expenses | 988,947 | 1,289,972 | 1,366,956 |
| Income from loans and other investments, net | 367,454 | 479,071 | 670,665 |
| Revenue from owned real estate | 184,980 | 13,040 | — |
| Gain on extinguishment of debt | — | 5,352 | 4,616 |
| Other income | 400 | 1,064 | — |
| Total net revenue | 552,834 | 498,527 | 675,281 |
| Expenses | |||
| Management and incentive fees | 67,554 | 74,792 | 119,089 |
| General and administrative expenses | 52,180 | 53,922 | 51,143 |
| Expenses from owned real estate | 215,578 | 22,060 | — |
| Other expenses | 6 | 5,663 | — |
| Total expenses | 335,318 | 156,437 | 170,232 |
| Increase in current expected credit loss reserve | (112,486) | (538,801) | (249,790) |
| Income (loss) from unconsolidated entities | 8,307 | (2,748) | — |
| Income (loss) before income taxes | 113,337 | (199,459) | 255,259 |
| Income tax provision | 3,668 | 2,374 | 5,362 |
| Net income (loss) | 109,669 | (201,833) | 249,897 |
| Net income attributable to non-controlling interests | (100) | (2,255) | (3,342) |
| Net income (loss) attributable to Blackstone Mortgage Trust, Inc. | $109,569 | $(204,088) | $246,555 |
| Net income (loss) per share of common stock, basic and diluted | $0.64 | $(1.17) | $1.43 |
| Weighted-average shares of common stock outstanding, basic and diluted | 170,961,564 | 173,782,523 | 172,672,038 |
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