Ares Commercial Real Estate Corporation (ACRE) Financial Statements

Income statement

Metric	TTM	2025	2024	2023	2022
Revenue
Total Revenue	98.4M	85.3M	69.7M	92.9M	109.0M
Cost of Revenue	27.9M	36.4M	—	—	—
Gross Profit	70.4M	49.0M	69.7M	92.9M	109.0M
Operating Expenses
R&D Expense	—	—	—	—	—
SG&A Expense	8.7M	9.8M	37.9M	10.7M	10.2M
General & Admin Expense	8.7M	9.8M	—	10.7M	10.2M
Selling & Marketing Expense	—	—	—	—	—
Other Expenses	34.4M	(22.6M)	—	82.2M	98.9M
Total Operating Expenses	43.2M	(12.8M)	37.9M	92.9M	109.0M
Cost and Expenses	71.1M	23.6M	37.9M	92.9M	109.0M
Operating Income (EBIT)	27.3M	61.8M	31.7M	—	—
Non-Operating
Interest Income	99.7M	97.6M	157.7M	198.6M	170.2M
Interest Expense	67.4M	65.2M	106.0M	109.7M	66.0M
Net Interest Income	32.2M	32.4M	51.7M	89.0M	104.2M
Other Non-Op Income/Expense	(31.5M)	(62.4M)	(66.7M)	(38.9M)	30.3M
Non-Operating Income (excl Interest)	(18.3M)	—	—	—	—
EBT (Pre-Tax Income)	(4.3M)	(617.0K)	(35.0M)	(38.9M)	30.3M
Income Tax Expense	172.0K	285.0K	18.0K	(39.0K)	472.0K
Bottom Line
Net Income	(4.4M)	(902.0K)	(35.0M)	(38.9M)	29.8M
Earnings from Cont. Ops	(4.4M)	(902.0K)	(35.0M)	(38.9M)	29.8M
Earnings from Discont. Ops	—	—	—	—	—
Bottom Line Net Income	(4.4M)	(902.0K)	(35.0M)	(38.9M)	29.8M
Per Share
Basic EPS	($0.08)	($0.02)	($0.64)	($0.72)	$0.58
Diluted EPS	($0.08)	($0.02)	($0.64)	($0.72)	$0.57
Revenue Per Share	$1.78	$1.56	$1.28	$1.71	$2.11
Shares
Basic Shares Outstanding	55.4M	54.9M	54.4M	54.3M	51.7M
Diluted Shares Outstanding	56.4M	54.9M	54.4M	54.3M	52.1M
Profitability Metrics
EBITDA	52.0M	70.2M	37.1M	1.0M	7.1M
D&A	6.4M	8.4M	5.4M	1.0M	7.1M
EBIT	45.6M	61.8M	31.7M	—	—

As reported, in the filing currency · TTM sums the four latest quarters; MRQ is the latest quarter · Negatives in parentheses; a dash is a line the filing does not carry · Data as of Jun 1, 2026