BRAEMAR HOTELS & RESORTS 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 | $7.0M | $17.7M | $-33.6M | $5.7M | $-5.5M | $11.0M | $-18.7M | $12.6M |
| Depreciation & Amortization | $21.4M | $22.6M | $22.7M | $23.2M | $23.4M | $23.4M | $23.5M | $25.1M |
| Depreciation | — | — | — | — | — | — | — | — |
| Amortization | — | — | — | — | — | — | — | — |
| Stock-Based Compensation | $0 | $0 | $-426.0K | $75.0K | $-47.0K | $-48.0K | $-78.0K | $427.0K |
| Net Cash from Operating Activities | $20.9M | $21.9M | $8.3M | $-5.8M | $23.0M | $15.1M | $6.7M | $9.0K |
| Investing Activities | ||||||||
| Capital Expenditures | — | — | — | — | — | — | — | — |
| Business Acquisitions | — | — | — | — | — | — | — | — |
| Net Cash from Investing Activities | $164.1M | $-11.9M | $103.1M | $118.2M | $2.5M | $-14.2M | $-17.2M | $91.4M |
| Financing Activities | ||||||||
| Dividends Paid | $7.3M | $11.1M | $11.4M | $11.7M | $12.0M | $12.2M | $12.5M | $12.8M |
| Stock Repurchases | — | — | — | — | — | — | $0 | $0 |
| Net Cash from Financing Activities | $-181.8M | $-28.2M | $-108.6M | $-84.1M | $-26.1M | $-49.8M | $-21.6M | $-55.3M |
| Net Change in Cash | $3.2M | $-18.1M | $2.9M | $28.3M | $-546.0K | $-48.8M | $-32.1M | $36.1M |
| Free Cash Flow | — | — | — | — | — | — | — | — |