Netstreit Corp'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), Netstreit Corp reported revenue of $195.0M (+19.8% year on year) and net income of $7.0M (+158.5% year on year).
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Rental revenue (including reimbursable) | $182.1M | $150.8M | $124.0M | $93.9M |
| Interest income on loans receivable | $12.6M | $11.6M | $7.4M | $2.3M |
| Other revenue | $245.0K | $400.0K | $550.0K | — |
| Total revenues | $195.0M | $162.8M | $131.9M | $96.3M |
| Property | $19.2M | $17.4M | $16.4M | $11.7M |
| General and administrative | $21.7M | $19.7M | $20.2M | $19.1M |
| Depreciation and amortization | $86.4M | $76.9M | $63.7M | $50.1M |
| Provisions for impairment | $17.3M | $30.0M | $7.1M | $1.1M |
| Transaction costs | $218.0K | $359.0K | $456.0K | $839.0K |
| Total operating expenses | $144.8M | $144.3M | $107.8M | $82.8M |
| Interest expense, net | ($51.3M) | ($30.3M) | ($19.1M) | ($9.2M) |
| Gain on sales of real estate, net | $7.7M | $1.9M | $1.2M | $4.1M |
| Loss on debt extinguishment | ($46.0K) | $0 | ($128.0K) | — |
| Other income (expense), net | $444.0K | ($1.9M) | $752.0K | $131.0K |
| Total other expense, net | ($43.2M) | ($30.4M) | ($17.3M) | ($4.9M) |
| Net income (loss) before income taxes | $7.0M | ($12.0M) | $6.8M | $8.6M |
| Income tax (expense) benefit | ($54.0K) | ($49.0K) | $49.0K | ($396.0K) |
| Net income (loss) | $6.9M | ($12.0M) | $6.9M | $8.2M |
| Net income (loss) attributable to noncontrolling interests | $37.0K | ($63.0K) | $53.0K | $88.0K |
| Net income (loss) attributable to common stockholders | $6.9M | ($11.9M) | $6.8M | $8.1M |
| Basic (in dollars per share) | $0.08 | -$0.16 | $0.11 | $0.16 |
| Diluted (in dollars per share) | $0.08 | -$0.16 | $0.11 | $0.16 |
| Basic (in shares) | 82.7M | 76.5M | 63.9M | 49.5M |
| Diluted (in shares) | 84.2M | 76.5M | 64.7M | 50.4M |
| Change in value on derivatives, net | ($14.9M) | $1.3M | ($14.8M) | $19.8M |
| Total comprehensive loss | ($7.9M) | ($10.7M) | ($7.9M) | $28.0M |
| Comprehensive loss attributable to noncontrolling interests | ($43.0K) | ($57.0K) | ($39.0K) | $296.0K |
| Comprehensive loss attributable to common stockholders | ($7.9M) | ($10.7M) | ($7.9M) | $27.7M |
| Line item | Sep 30, 2026 · Q3 | Jun 30, 2026 · Q2 | Mar 31, 2026 · Q1 | Sep 30, 2025 · Q3 |
|---|---|---|---|---|
| Rental revenue (including reimbursable) | $63.2M | $57.8M | $54.0M | $45.0M |
| Interest income on loans receivable | $3.0M | $2.9M | $3.0M | $3.3M |
| Other revenue | $0 | $556.0K | $0 | $0 |
| Total revenues | $66.3M | $61.3M | $57.1M | $48.3M |
| Property | $5.9M | $5.7M | $5.4M | $4.3M |
| General and administrative | $6.5M | $5.8M | $5.8M | $5.1M |
| Depreciation and amortization | $28.6M | $25.8M | $24.5M | $21.4M |
| Provisions for impairment | $1.9M | $4.2M | $2.1M | $5.5M |
| Transaction costs, net | $5.0K | $6.0K | ($60.0K) | $19.0K |
| Total operating expenses | $42.9M | $41.6M | $37.6M | $36.3M |
| Interest expense, net | ($17.7M) | ($15.6M) | ($14.3M) | ($12.6M) |
| Gain on sales of real estate, net | $1.4M | $1.7M | $119.0K | $1.1M |
| Loss on debt extinguishment | ($48.0K) | $0 | $0 | $0 |
| Other income, net | $1.7M | $567.0K | $434.0K | $170.0K |
| Total other expense, net | ($14.7M) | ($13.3M) | ($13.7M) | ($11.3M) |
| Net income before income taxes | $8.6M | $6.4M | $5.7M | $633.0K |
| Income tax expense | ($82.0K) | ($78.0K) | ($14.0K) | ($12.0K) |
| Net income | $8.5M | $6.3M | $5.7M | $621.0K |
| Less: net income attributable to noncontrolling interests | $30.0K | $26.0K | $24.0K | $3.0K |
| Net income attributable to common stockholders | $8.5M | $6.3M | $5.7M | $618.0K |
| Basic (in dollars per share) | $0.08 | $0.06 | $0.06 | $0.01 |
| Diluted (in dollars per share) | $0.08 | $0.06 | $0.06 | $0.01 |
| Basic (in shares) | 103.1M | 97.4M | 95.5M | 83.5M |
| Diluted (in shares) | 108.2M | 102.8M | 99.1M | 85.6M |
| Change in value on derivatives, net | $24.4M | $10.3M | $7.0M | ($1.4M) |
| Total comprehensive income (loss) | $32.9M | $16.6M | $12.7M | ($783.0K) |
| Less: comprehensive income (loss) attributable to noncontrolling interests | $106.0K | $69.0K | $53.0K | ($4.0K) |
| Comprehensive income (loss) attributable to common stockholders | $32.8M | $16.5M | $12.6M | ($779.0K) |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Land | $772.4M | $571.3M | $460.9M | $401.1M |
| Buildings and improvements | $1.6B | $1.4B | $1.1B | $907.1M |
| Total real estate, at cost | $2.4B | $2.0B | $1.6B | $1.3B |
| Less accumulated depreciation | ($188.9M) | ($143.4M) | ($101.2M) | ($62.5M) |
| Property under development | $5.5M | $6.1M | $29.2M | $16.8M |
| Real estate held for investment, net | $2.2B | $1.8B | $1.5B | $1.3B |
| Assets held for sale | $41.0M | $48.6M | $52.5M | $23.2M |
| Mortgage loans receivable, net | $142.5M | $139.4M | $114.5M | $46.4M |
| Cash, cash equivalents, and restricted cash | $14.5M | $14.3M | $29.9M | $70.5M |
| Lease intangible assets, net | $173.4M | $164.4M | $161.4M | $151.0M |
| Other assets, net | $63.1M | $58.2M | $49.3M | $52.1M |
| Total assets | $2.6B | $2.3B | $1.9B | $1.6B |
| Term loans, net | $1.1B | $622.6M | $521.9M | $373.3M |
| Revolving credit facility | $0 | $239.0M | $80.0M | $113.0M |
| Mortgage note payable, net | $7.8M | $7.9M | $7.9M | $7.9M |
| Lease intangible liabilities, net | $16.9M | $20.2M | $25.4M | $30.1M |
| Liabilities related to assets held for sale | $1.0M | $1.9M | $1.2M | $406.0K |
| Accounts payable, accrued expenses, and other liabilities | $42.6M | $29.7M | $36.5M | $22.5M |
| Total liabilities | $1.2B | $921.2M | $672.8M | $547.3M |
| Common stock, $0.01 par value, 400,000,000 shares authorized; 93,070,533 and 81,602,232 shares issued and outstanding as of December 31, 2025 and 2024, respectively | 931.0K | 816.0K | 732.0K | 580.0K |
| Additional paid-in capital | $1.7B | $1.5B | $1.4B | $1.1B |
| Distributions in excess of retained earnings | ($251.9M) | ($188.0M) | ($112.3M) | ($66.9M) |
| Accumulated other comprehensive (loss) income | ($4.6M) | $10.2M | $8.9M | $23.7M |
| Total stockholders’ equity | $1.4B | $1.3B | $1.3B | $1.0B |
| Noncontrolling interests | $6.6M | $7.2M | $8.5M | $9.6M |
| Total equity | $1.5B | $1.3B | $1.3B | $1.1B |
| Total liabilities and equity | $2.6B | $2.3B | $1.9B | $1.6B |
| Line item | Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Sep 30, 2025 |
|---|---|---|---|---|
| Land | $1.0B | $934.1M | $857.3M | $676.7M |
| Buildings and improvements | $2.0B | $1.8B | $1.7B | $1.5B |
| Total real estate, at cost | $3.0B | $2.7B | $2.6B | $2.1B |
| Less accumulated depreciation | ($241.3M) | ($222.0M) | ($205.8M) | ($173.8M) |
| Property under development | $28.3M | $13.5M | $10.9M | $1.8M |
| Real estate held for investment, net | $2.7B | $2.5B | $2.4B | $2.0B |
| Assets held for sale | $52.8M | $52.1M | $57.7M | $86.1M |
| Mortgage loans receivable, net | $132.4M | $151.4M | $130.3M | $138.3M |
| Cash, cash equivalents, and restricted cash | $42.3M | $20.0M | $11.1M | $53.3M |
| Lease intangible assets, net | $206.4M | $196.3M | $181.6M | $157.7M |
| Other assets, net | $104.4M | $78.7M | $70.8M | $57.0M |
| Total assets | $3.3B | $3.0B | $2.8B | $2.5B |
| Term loans, net | $1.2B | $1.2B | $1.1B | $1.1B |
| Mortgage note payable, net | $7.8M | $7.8M | $7.8M | $7.8M |
| Lease intangible liabilities, net | $15.1M | $15.7M | $16.3M | $17.5M |
| Liabilities related to assets held for sale | $1.0M | $1.0M | $1.0M | $2.0M |
| Accounts payable, accrued expenses, and other liabilities | $55.3M | $40.6M | $42.0M | $42.0M |
| Total liabilities | $1.3B | $1.5B | $1.3B | $1.2B |
| Common stock, $0.01 par value, 400,000,000 shares authorized; 125,632,968 and 93,070,533 shares issued and outstanding as of September 30, 2026 and December 31, 2025, respectively | 1.3M | 1.0M | 973.0K | 835.0K |
| Additional paid-in capital | $2.3B | $1.8B | $1.8B | $1.5B |
| Distributions in excess of retained earnings | ($297.5M) | ($283.0M) | ($267.7M) | ($235.1M) |
| Accumulated other comprehensive income (loss) | $37.0M | $12.6M | $2.4M | ($6.6M) |
| Total stockholders’ equity | $2.0B | $1.6B | $1.5B | $1.3B |
| Noncontrolling interests | $5.6M | $7.2M | $6.3M | $6.7M |
| Total equity | $2.0B | $1.6B | $1.5B | $1.3B |
| Total liabilities and equity | $3.3B | $3.0B | $2.8B | $2.5B |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Net income (loss) | $6.9M | ($12.0M) | $6.9M | $8.2M |
| Depreciation and amortization | $86.4M | $76.9M | $63.7M | $50.1M |
| Amortization of deferred financing costs | $3.1M | $2.2M | $1.7M | $862.0K |
| Amortization of above/below-market assumed debt | $114.0K | $114.0K | $114.0K | $29.0K |
| Noncash revenue adjustments | ($5.1M) | ($3.7M) | ($1.6M) | ($2.5M) |
| Amortization of deferred losses (gains) on interest rate swaps | $2.9M | ($3.8M) | ($2.1M) | — |
| Stock-based compensation expense | $5.9M | $5.7M | $4.8M | $4.8M |
| Gain on sales of real estate, net | ($7.7M) | ($1.9M) | ($1.2M) | ($4.1M) |
| Provisions for impairment | $17.3M | $30.0M | $7.1M | $1.1M |
| Loss on debt extinguishment | $46.0K | $0 | $128.0K | — |
| (Gain) loss on involuntary conversion of building and improvements | ($45.0K) | $502.0K | ($78.0K) | ($126.0K) |
| Other assets, net | ($102.0K) | ($1.2M) | ($1.2M) | ($6.2M) |
| Accounts payable, accrued expenses, and other liabilities | $494.0K | ($946.0K) | $3.7M | $1.2M |
| Lease incentive payments | ($667.0K) | ($1.7M) | ($1.7M) | ($2.7M) |
| Net cash provided by operating activities | $109.5M | $90.2M | $80.2M | $50.6M |
| Acquisitions of real estate | ($598.1M) | ($479.0M) | ($340.5M) | ($424.8M) |
| Real estate development and improvements | ($9.4M) | ($40.3M) | ($78.8M) | ($22.4M) |
| Investment in mortgage loans receivable | ($37.4M) | ($29.5M) | ($72.4M) | ($46.5M) |
| Principal collections on mortgage loans receivable | $31.3M | $24.9M | $1.5M | — |
| Proceeds from sale of mortgage loans receivable | $10.5M | — | — | — |
| Earnest money deposits | ($6.3M) | ($67.0K) | ($265.0K) | $868.0K |
| Purchase of computer equipment and other corporate assets | ($52.0K) | ($8.0K) | ($35.0K) | ($1.2M) |
| Proceeds from sale of real estate | $160.6M | $90.8M | $38.5M | $25.5M |
| Proceeds from the settlement of property-related insurance claims | $45.0K | $403.0K | $78.0K | $126.0K |
| Net cash used in investing activities | ($448.8M) | ($432.9M) | ($452.0M) | ($468.4M) |
| Issuance of common stock in public offerings, net | $188.3M | $135.5M | $271.4M | $277.7M |
| Payment of common stock dividends | ($70.2M) | ($63.5M) | ($51.7M) | ($39.5M) |
| Payment of OP unit distributions | ($358.0K) | ($369.0K) | ($407.0K) | ($419.0K) |
| Payment of restricted stock dividends | ($277.0K) | ($599.0K) | ($148.0K) | ($339.0K) |
| Principal payments on mortgages payable | ($164.0K) | ($155.0K) | ($138.0K) | ($48.0K) |
| Proceeds under revolving credit facilities | $349.0M | $392.0M | $361.0M | $515.0M |
| Repayments under revolving credit facilities | ($588.0M) | ($233.0M) | ($394.0M) | ($466.0M) |
| Proceeds from term loans | $518.7M | $100.0M | $150.0M | $200.0M |
| Principal payments on term loans | ($43.7M) | — | — | — |
| Repurchase of common stock for tax withholding obligations | ($753.0K) | ($1.5M) | ($688.0K) | ($1.5M) |
| Payment of deferred offering costs | ($1.0M) | ($1.3M) | ($878.0K) | — |
| Payment of deferred financing costs | ($12.0M) | $0 | ($3.3M) | ($3.8M) |
| Net cash provided by financing activities | $339.5M | $327.1M | $331.2M | $480.7M |
| Net change in cash, cash equivalents, and restricted cash | $147.0K | ($15.6M) | ($40.6M) | $62.9M |
| Cash, cash equivalents, and restricted cash at beginning of the period | $14.3M | $29.9M | $70.5M | $7.6M |
| Cash, cash equivalents, and restricted cash at end of the period | $14.5M | $14.3M | $29.9M | $70.5M |
| Cash paid for interest, net of amounts capitalized | $44.0M | $30.3M | $18.3M | $7.2M |
| Cash (received) paid for income taxes, net | ($64.0K) | ($31.0K) | — | — |
| Dividends declared and unpaid on restricted stock | $550.0K | $376.0K | $501.0K | $403.0K |
| Deferred offering costs included in accounts payable, accrued expenses, and other liabilities | $0 | $35.0K | $7.0K | — |
| Line item | Sep 30, 2026 · YTD | Jun 30, 2026 · YTD | Mar 31, 2026 · Q1 | Sep 30, 2025 · YTD |
|---|---|---|---|---|
| Net income | $20.5M | $12.0M | $5.7M | $5.6M |
| Depreciation and amortization | $78.8M | $50.3M | $24.5M | $63.8M |
| Amortization of deferred financing costs | $2.8M | $1.9M | $971.0K | $2.2M |
| Amortization of above/below-market assumed debt | $86.0K | $57.0K | $29.0K | $86.0K |
| Noncash revenue adjustments | ($6.7M) | ($4.3M) | ($2.2M) | ($3.5M) |
| Noncash other income | ($375.0K) | ($375.0K) | — | — |
| Amortization of deferred losses on interest rate swaps | $2.1M | $1.4M | $705.0K | $2.1M |
| Stock-based compensation expense | $5.3M | $3.4M | $1.7M | $4.4M |
| Gain on sales of real estate, net | ($3.1M) | ($1.8M) | ($119.0K) | ($6.7M) |
| Provisions for impairment | $8.1M | $6.3M | $2.1M | $13.5M |
| Loss on debt extinguishment | $48.0K | $0 | $0 | $46.0K |
| Gain on involuntary conversion of building and improvements | ($1.6M) | — | — | ($45.0K) |
| Other assets, net | ($3.6M) | ($8.2M) | ($8.3M) | ($775.0K) |
| Accounts payable, accrued expenses, and other liabilities | $3.6M | $3.0M | $1.3M | $402.0K |
| Lease incentive payments | ($1.3M) | ($711.0K) | $0 | ($464.0K) |
| Net cash provided by operating activities | $104.8M | $63.1M | $26.3M | $80.7M |
| Acquisitions of real estate | ($723.5M) | ($468.1M) | ($233.7M) | ($365.2M) |
| Real estate development and improvements | ($26.2M) | ($13.4M) | ($5.7M) | ($4.0M) |
| Investment in mortgage loans receivable | ($49.0M) | ($39.9M) | ($5.1M) | ($26.7M) |
| Earnest money deposits | $5.6M | $5.1M | $5.6M | ($382.0K) |
| Purchase of computer equipment and other corporate assets | ($12.0K) | ($7.0K) | $0 | ($35.0K) |
| Proceeds from sale of real estate | $87.8M | $49.5M | $10.4M | $121.7M |
| Principal collections on mortgage loans receivable | $42.2M | $14.0M | $11.2M | $24.7M |
| Proceeds from sale of mortgage loans receivable | $5.6M | $5.6M | $5.6M | $10.5M |
| Proceeds from the settlement of property-related insurance claims | $1.6M | — | — | $45.0K |
| Net cash used in investing activities | ($655.9M) | ($447.2M) | ($211.7M) | ($239.5M) |
| Issuance of common stock in public offerings, net | $556.1M | $138.5M | $67.8M | $28.4M |
| Payment of common stock dividends | ($65.7M) | ($42.8M) | ($21.4M) | ($52.3M) |
| Payment of OP unit distributions | ($344.0K) | ($227.0K) | ($106.0K) | ($269.0K) |
| Payment of restricted stock dividends | ($446.0K) | ($426.0K) | ($392.0K) | ($274.0K) |
| Principal payments on mortgages payable | ($127.0K) | ($85.0K) | ($43.0K) | ($122.0K) |
| Proceeds under revolving credit facility | $518.5M | $340.0M | $98.0M | $199.0M |
| Repayments under revolving credit facility | ($518.5M) | ($141.5M) | ($10.0M) | ($438.0M) |
| Proceeds from term loans | $250.0M | $100.0M | $50.0M | $518.7M |
| Principal payments on term loans | ($150.0M) | $0 | $0 | ($43.7M) |
| Repayment of property development incentives | ($375.0K) | ($375.0K) | — | — |
| Repurchase of common stock for tax withholding obligations | ($1.9M) | ($1.8M) | ($1.7M) | ($743.0K) |
| Payment of deferred offering costs | $1.3M | ($1.2M) | ($188.0K) | ($835.0K) |
| Payment of deferred financing costs | ($7.1M) | ($313.0K) | $0 | ($12.0M) |
| Net cash provided by financing activities | $578.9M | $389.7M | $182.0M | $197.8M |
| Net change in cash, cash equivalents, and restricted cash | $27.8M | $5.6M | ($3.4M) | $39.0M |
| Cash, cash equivalents, and restricted cash at beginning of the period | $14.5M | $14.5M | $14.5M | $14.3M |
| Cash, cash equivalents, and restricted cash at end of the period | $42.3M | $20.0M | $11.1M | $53.3M |
| Cash paid for interest, net of amounts capitalized | $42.3M | $26.0M | $12.7M | $31.9M |
| Cash paid (received) for income taxes, net | $89.0K | $83.0K | — | ($3.0K) |
Netstreit Corp score and earnings-call analysis · All covered companies
Figures as reported in SEC filings. General information, not investment advice.