ARES COMMERCIAL REAL ESTATE CORPORATION
Income Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $54.8M | $69.7M | $92.9M | $106.8M | $102.1M | $82.7M | $77.3M | $55.3M |
| Cost of Revenue | — | — | — | — | — | — | — | — |
| Gross Profit | — | — | — | — | — | — | — | — |
| Gross Margin | — | — | — | — | — | — | — | — |
| Operating Expenses | ||||||||
| Research & Development | — | — | — | — | — | — | — | — |
| SG&A Expense | $7.0M | $7.8M | $7.2M | $6.4M | $4.7M | $3.7M | $4.2M | $3.3M |
| Operating Income | $-617.0K | $-35.0M | $-38.9M | $30.3M | $61.2M | $22.2M | $37.5M | $39.0M |
| Operating Margin | -1.1% | -50.3% | -41.9% | 28.3% | 59.9% | 26.8% | 48.5% | 70.6% |
| Interest Expense | — | — | — | — | — | — | — | — |
| Pretax Income | $-617.0K | $-35.0M | $-38.9M | $30.3M | $61.2M | $22.2M | $37.5M | $39.0M |
| Income Tax Expense | $285.0K | $-18.0K | $-39.0K | $472.0K | $722.0K | $352.0K | $515.0K | $446.0K |
| Net Income | $-902.0K | $-35.0M | $-38.9M | $29.8M | $60.5M | $21.8M | $37.0M | $38.6M |
| Net Margin | -1.6% | -50.2% | -41.8% | 27.9% | 59.2% | 26.4% | 47.9% | 69.8% |
| EPS (Basic) | $-0.02 | $-0.64 | $-0.72 | $0.58 | $1.43 | $0.66 | $1.29 | $1.35 |
| EPS (Diluted) | $-0.02 | $-0.64 | $-0.72 | $0.57 | $1.42 | $0.66 | $1.28 | $1.35 |
| Shares Outstanding (Basic) | 54.9M | 54.4M | 54.3M | 51.7M | 42.4M | 33.0M | 28.6M | 28.5M |
| Shares Outstanding (Diluted) | 54.9M | 54.4M | 54.3M | 52.1M | 42.7M | 33.2M | 28.8M | 28.7M |
| Dividends Per Share | $0.60 | $1.00 | $1.36 | $1.40 | $1.40 | $1.32 | $1.32 | $1.16 |