Quarterly ResultMay 13, 2026, 06:07 AM
Belpointe PREP Q1 Net Loss Widens to $(10.7)M; Revenue Jumps to $4.2M
AI Summary
Belpointe PREP, LLC reported a net loss of $(10.7) million for the three months ended March 31, 2026, widening from a net loss of $(8.6) million in the prior year period. Despite the increased loss, rental revenue significantly grew to $4.2 million from $1.7 million year-over-year, though total expenses also rose to $15.2 million. The company continued its capital raising efforts, issuing $3.21 million in Class A units, and provided a $5.0 million convertible loan to an affiliate for a property acquisition.
Key Highlights
- Net loss widened to $(10.7) million in Q1 2026 from $(8.6) million in Q1 2025.
- Rental revenue surged to $4.2 million in Q1 2026, up from $1.7 million in Q1 2025.
- Loss per Class A unit increased to $(2.75) in Q1 2026 from $(2.35) in Q1 2025.
- Total expenses grew to $15.2 million in Q1 2026, compared to $10.6 million in Q1 2025.
- Raised $3.21 million from Class A unit issuance in Q1 2026 via Follow-on Offering.
- Extended a $5.0 million convertible loan to an affiliate for a property acquisition.
- Total assets reached $565.7 million as of March 31, 2026.
- Net debt increased to $275.5 million as of March 31, 2026.