Ashford Hospitality Trust, Inc.
Cash Flow Statement
| Line Item | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $128.0M | $-63.8M | $-69.3M | $-60.1M | $-30.4M | $-20.0M | $-124.2M | $-57.9M |
| Depreciation & Amortization | $28.6M | $32.0M | $34.1M | $34.6M | $35.3M | $37.3M | $37.3M | $37.7M |
| Depreciation | — | — | — | — | — | — | — | — |
| Amortization | — | — | — | — | — | — | — | — |
| Stock-Based Compensation | $28.0K | $28.0K | $-224.0K | $-704.0K | $221.0K | $-54.0K | $566.0K | $244.0K |
| Net Cash from Operating Activities | $-7.4M | $29.5M | $-12.5M | $5.5M | $16.3M | $-25.0M | $14.1M | $795.0K |
| Investing Activities | ||||||||
| Capital Expenditures | — | — | — | — | — | — | — | — |
| Business Acquisitions | — | — | — | — | — | — | — | — |
| Net Cash from Investing Activities | $358.7M | $197.1M | $57.6M | $27.3M | $6.3M | $99.5M | $-20.6M | $-21.5M |
| Financing Activities | ||||||||
| Dividends Paid | $0 | $0 | $6.2M | $6.1M | $6.0M | $5.6M | $5.7M | $5.2M |
| Stock Repurchases | $0 | $2.0K | $40.0K | $0 | $4.0K | $0 | $0 | $0 |
| Net Cash from Financing Activities | $-360.4M | $-222.0M | $-77.6M | $-39.8M | $8.2M | $-70.0M | $-7.0M | $8.3M |
| Net Change in Cash | $-9.1M | $4.6M | $-4.1M | $-7.0M | $30.9M | $4.5M | $-13.5M | $-12.3M |
| Free Cash Flow | — | — | — | — | — | — | — | — |