FrontView REIT Inc (FVR) financial statements: income statement, balance sheet and cash flow
FrontView REIT Inc's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), FrontView REIT Inc reported revenue of $67.1M (+39.1% year on year) and net income of ($5.6M) (-265.0% year on year).
Income statement
FrontView REIT Inc income statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2023 · FY
Rental revenues
$66.5M
—
Interest income on mortgage loans
$350.0K
—
Other income
$239.0K
—
Total revenues
$67.1M
$48.3M
Depreciation and amortization
$33.1M
$24.7M
Property operating expenses
$9.7M
$5.8M
General and administrative expenses
$12.9M
$8.1M
Total operating expenses
$55.8M
$44.4M
Interest expense
$18.0M
$18.4M
Gain on sale of real estate
($11.9M)
($725.0K)
Impairment loss
$10.5M
$407.0K
Income taxes
$350.0K
$316.0K
Total other expenses
$16.9M
$18.4M
Operating loss
($5.6M)
($14.5M)
Less: Net loss attributable to non-controlling interests
$1.7M
—
Net loss attributable to NADG NNN Property Fund LP (Predecessor) and to FrontView REIT, Inc. (Successor)
($3.8M)
($1.1M)
Basic
19.8M
—
Diluted
27.8M
—
Basic
-$0.22
—
Diluted
-$0.22
—
Net loss
($5.6M)
($1.5M)
Change in fair value of interest rate swaps
($1.4M)
—
Comprehensive loss
($7.0M)
—
Less: Comprehensive loss attributable to non-controlling interests
$2.3M
—
Comprehensive loss attributable to NADG NNN Property Fund LP (Predecessor) and to FrontView REIT, Inc. (Successor)
($4.7M)
—
FrontView REIT Inc income statement, quarters
Line item
Jun 30, 2026 · Q2
Mar 31, 2026 · Q1
Sep 30, 2025 · Q3
Jun 30, 2025 · Q2
Rental revenues
$17.8M
$18.0M
$16.6M
$17.5M
Interest income on mortgage loans
$196.0K
$209.0K
$156.0K
—
Total revenues
$18.0M
$18.2M
$16.8M
$17.6M
Depreciation and amortization
$8.2M
$7.7M
$7.4M
$9.5M
Property operating expenses
$2.3M
$2.3M
$2.2M
$2.7M
General and administrative expenses
$3.8M
$3.7M
$3.1M
$3.3M
Total operating expenses
$14.3M
$13.7M
$12.7M
$15.5M
Interest expense
$4.2M
$4.2M
$4.6M
$4.6M
Gain on sale of real estate
($2.3M)
($963.0K)
($7.6M)
($1.2M)
Impairment loss
$156.0K
$812.0K
$1.6M
$3.0M
Income taxes
$94.0K
$70.0K
$52.0K
$194.0K
Total other expenses
$2.2M
$4.1M
($1.4M)
$6.6M
Net income (loss) attributable to non-controlling interests
$285.0K
$80.0K
($1.5M)
$1.6M
Net income (loss) attributable to FrontView REIT, Inc.
$1.2M
$320.0K
$4.0M
($2.9M)
Series A Convertible Preferred Stock dividends
($422.0K)
($239.0K)
—
—
Net income (loss) attributable to common stockholders
$810.0K
$81.0K
—
—
Basic
22.8M
22.3M
20.7M
19.1M
Diluted
23.1M
22.3M
27.8M
27.8M
Basic
$0.03
$0.00
$0.19
-$0.16
Diluted
$0.03
$0.00
$0.19
-$0.16
Net income (loss)
$1.5M
$400.0K
$5.5M
($4.5M)
Change in fair value of interest rate swaps
$1.9M
$2.1M
$37.0K
($1.3M)
Comprehensive income (loss)
$3.4M
$2.4M
$5.6M
($5.9M)
Comprehensive income (loss) attributable to non-controlling interests
$643.0K
$483.0K
($1.5M)
$2.1M
Comprehensive income (loss) attributable to FrontView REIT, Inc.
$2.8M
$1.9M
$4.0M
($3.8M)
Balance sheet
FrontView REIT Inc balance sheet, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Land
$329.5M
$332.9M
Buildings and improvements
$417.4M
$386.5M
Total real estate held for investment, at cost
$746.9M
$719.4M
Less accumulated depreciation
($48.2M)
($40.4M)
Real estate held for investment, net
$698.7M
$679.0M
Assets held for sale
$12.5M
$5.9M
Mortgage loans receivable
$10.3M
—
Cash and cash equivalents
$13.5M
—
Intangible lease assets, net
$99.5M
$114.9M
Other assets
$20.0M
$16.9M
Total Assets
$854.4M
$821.8M
Debt, net
$314.3M
$266.5M
Intangible lease liabilities, net
$14.5M
$14.7M
Accounts payable and accrued liabilities
$32.5M
$17.9M
Total liabilities
$361.2M
$299.1M
Common Stock, $0.01 par value 450,000,000 shares authorized, 22,111,165 shares issued and outstanding as of December 31, 2025
221.0K
173.0K
Additional paid-in capital
$420.0M
$331.5M
Accumulated deficit
($28.1M)
($6.8M)
Accumulated other comprehensive loss
($901.0K)
—
Total FrontView REIT, Inc. equity
$391.2M
$324.8M
Non-controlling interests
$102.0M
$197.9M
Total equity
$493.2M
$522.7M
Total liabilities and equity
$854.4M
$821.8M
FrontView REIT Inc balance sheet, quarters
Line item
Jun 30, 2026
Mar 31, 2026
Sep 30, 2025
Jun 30, 2025
Land
$350.8M
$337.1M
$325.7M
$330.2M
Buildings and improvements
$458.6M
$430.6M
$399.1M
$402.0M
Total real estate held for investment, at cost
$809.3M
$767.8M
$724.8M
$732.1M
Less accumulated depreciation
($54.4M)
($50.8M)
($45.1M)
($43.9M)
Real estate held for investment, net
$755.0M
$716.9M
$679.7M
$688.2M
Assets held for sale
$8.0M
$14.1M
$17.7M
$28.6M
Mortgage loans receivable
$10.3M
$10.3M
$10.3M
$7.1M
Cash and cash equivalents
$6.0M
$9.3M
$19.6M
$8.4M
Intangible lease assets, net
$99.6M
$97.4M
$101.7M
$106.8M
Other assets
$21.4M
$21.8M
$17.9M
$17.4M
Total Assets
$900.4M
$869.8M
$846.8M
$856.5M
Debt, net
$329.1M
$312.9M
$307.1M
$316.9M
Intangible lease liabilities, net
$13.8M
$14.2M
$14.1M
$14.5M
Accounts payable and accrued liabilities
$28.8M
$28.5M
$21.5M
$21.1M
Total liabilities
$371.7M
$355.6M
$342.6M
$352.6M
Series A Convertible Preferred Stock, $0.01 par value 750,000 shares authorized, 250,000 shares issued and outstanding as of June 30, 2026 (liquidation preference $25,000)
3.0K
3.0K
—
—
Common stock, $0.01 par value 450,000,000 shares authorized, 23,650,757 and 22,111,165 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively
236.0K
224.0K
212.0K
204.0K
Additional paid-in capital
$472.0M
$450.0M
$405.2M
$389.4M
Accumulated deficit
($37.2M)
($32.9M)
($19.3M)
($18.7M)
Accumulated other comprehensive income (loss)
$2.3M
$703.0K
($938.0K)
($965.0K)
Total FrontView REIT, Inc. equity
$437.3M
$418.1M
$385.2M
$369.9M
Non-controlling interests
$91.3M
$96.1M
$118.9M
$134.1M
Total equity
$528.6M
$514.2M
$504.2M
$504.0M
Total liabilities and equity
$900.4M
$869.8M
$846.8M
$856.5M
Cash flow statement
FrontView REIT Inc cash flow statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2023 · FY
Net loss
($5.6M)
($1.5M)
Depreciation and amortization
$33.1M
$24.7M
Amortization of above/below market leases
$3.3M
$1.5M
Amortization of financing transaction and discount costs
$1.6M
$2.8M
Amortization of software costs
$35.0K
—
Net cash received from derivative settlements
$1.0M
—
Non-cash rental revenue adjustments
($499.0K)
($1.1M)
Gain on sale of real estate
($11.9M)
($725.0K)
Stock-based compensation, net
$2.0M
—
Impairment loss
$10.5M
$407.0K
Other assets
($1.5M)
$311.0K
Accounts payable and accrued liabilities
$10.1M
$2.7M
Net cash provided by operating activities
$42.1M
$17.2M
Acquisition of real estate held for investment
($125.4M)
($75.0M)
Deposits on real estate held for investment
$305.0K
$74.0K
Deferred leasing costs and other additions to real estate held for investment
($2.3M)
($1.4M)
Principal collections on mortgage loans receivable
$900.0K
—
Net proceeds from sale of real estate
$65.2M
$5.2M
Net proceeds from expropriation
$5.0M
—
Additions to software costs
($12.0K)
($83.0K)
Net cash (used in) provided by investing activities
($56.3M)
($93.8M)
Proceeds from debt
$57.0M
$110.4M
Repayment of debt
($10.0M)
($41.8M)
Cash distributions paid to stockholders
($16.6M)
—
Cash distributions paid to Preferred Unit holders
($32.0K)
($16.0K)
Cash distributions paid to non-controlling interests
($7.8M)
—
Net cash provided by (used in) financing activities
$22.6M
$52.6M
Net increase (decrease) in cash and cash equivalents during the period
$8.4M
($23.9M)
Cash and cash equivalents, beginning of period
$5.1M
$41.1M
Cash and cash equivalents, end of period
$13.5M
—
Cash paid for interest
$14.9M
$15.0M
Accrued real estate development and improvement costs
$5.0M
$1.6M
Accrued deferred leasing fees
$314.0K
$264.0K
Accrued deferred offering costs
$1.4M
$3.2M
Increase in mortgage loan receivable in exchange for sale of real estate
$11.2M
—
Conversion of OP Units to Common Stock and additional paid-in capital
$99.4M
—
Distributions payable
$6.1M
—
FrontView REIT Inc cash flow statement, quarters
Line item
Jun 30, 2026 · YTD
Mar 31, 2026 · Q1
Sep 30, 2025 · YTD
Jun 30, 2025 · YTD
Net income (loss)
$1.9M
$400.0K
($320.0K)
($5.9M)
Depreciation and amortization
$15.9M
$7.7M
$24.6M
$17.3M
Amortization of above/below market leases
$1.1M
$621.0K
$2.3M
$1.7M
Amortization of financing transaction and discount costs
$795.0K
$395.0K
$1.2M
$795.0K
Change in fair value on derivative instruments included in interest expense
($50.0K)
($50.0K)
—
—
Net cash received from derivative settlements
$56.0K
($10.0K)
$778.0K
$436.0K
Non-cash rental revenue adjustments
($557.0K)
($434.0K)
($340.0K)
($373.0K)
Gain on sale of real estate
($3.2M)
($963.0K)
($9.2M)
($1.7M)
Stock-based compensation, net
$1.7M
$1.1M
$1.6M
$815.0K
Impairment loss
$968.0K
$812.0K
$5.0M
$3.4M
Other assets
$1.2M
($283.0K)
($2.0M)
($1.4M)
Accounts payable and accrued liabilities
($1.2M)
($2.1M)
$2.1M
$2.3M
Net cash provided by operating activities
$18.5M
$7.1M
$25.6M
$17.4M
Acquisition of real estate held for investment
($93.2M)
($34.3M)
($83.8M)
($67.9M)
Net proceeds from sale of real estate
$31.1M
$9.1M
$57.1M
$23.2M
Net proceeds from expropriation
$0
$0
$5.0M
$559.0K
Deposits on real estate held for investment
$159.0K
$334.0K
$744.0K
$694.0K
Deferred leasing costs and other additions to real estate held for investment
($5.2M)
($793.0K)
($1.6M)
($1.2M)
Principal collections on mortgage loans receivable
$8.0K
$4.0K
—
—
Additions to software costs
($44.0K)
($44.0K)
—
—
Net cash used in investing activities
($67.1M)
($25.7M)
($32.9M)
($51.8M)
Proceeds from issuance of Series A Convertible Preferred Stock
$23.9M
$23.9M
—
—
Proceeds from issuance of common stock
$17.2M
—
—
—
Proceeds from debt
$36.5M
$18.5M
$50.0M
$50.0M
Repayment of debt
($22.0M)
($20.0M)
($10.0M)
—
Deferred offering costs
($1.9M)
($1.8M)
—
—
Cash dividends paid to Series A Convertible Preferred Stock
($305.0K)
—
—
—
Cash dividends paid to common stockholders
($9.6M)
($4.8M)
($12.0M)
($7.6M)
Cash distributions paid to Preferred Unit holders
($16.0K)
—
($16.0K)
($16.0K)
Cash distributions paid to non-controlling interests
($2.7M)
($1.4M)
($6.3M)
($4.7M)
Net cash provided by financing activities
$41.1M
$14.4M
$21.7M
$37.7M
Net (decrease) increase in cash and cash equivalents during the period
($7.5M)
($4.2M)
$14.5M
$3.3M
Cash and cash equivalents, beginning of period
$13.5M
$13.5M
$5.1M
$5.1M
Cash and cash equivalents, end of period
$6.0M
$9.3M
$19.6M
$8.4M
Cash paid for interest
$8.0M
$4.0M
$10.9M
$6.8M
Accrued real estate development and improvement costs
$4.6M
$4.9M
$621.0K
$813.0K
Accrued deferred leasing fees
$498.0K
$394.0K
$111.0K
$109.0K
Accrued deferred offering costs
$381.0K
$650.0K
—
—
Forfeited employee grant dividends
$2.0K
$2.0K
—
—
Conversion of OP Units to common stock and additional paid-in capital