Belpointe PREP, LLC Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Rental Revenue	7.22	2.68	2.25	1.39	1	0.11
Total Revenue	7.22	2.68	2.25	1.39	1	0.11
Revenue Growth (YoY	244.98%	18.68%	62.04%	39.52%	804.87%	-
Property Expenses	12.54	6.84	4.18	3.81	1.14	0.05
Selling, General & Administrative	5.54	5.11	6.34	5.8	2.92	0.12
Depreciation & Amortization	7.49	4.22	2.07	1.29	0.59	0.05
Total Operating Expenses	25.57	16.17	12.58	10.9	4.65	0.22
Operating Income	-18.35	-13.49	-10.33	-9.51	-3.66	-0.11
Interest Expense	-16.32	-10.01	-	-	-	-0.01
Interest & Investment Income	1.04	0.65	0.11	1.85	0.37	-
Other Non-Operating Income	-0.04	-0.23	-0.09	-0.47	-0.01	-
EBT Excluding Unusual Items	-33.67	-23.08	-10.3	-8.13	-3.29	-0.12
Gain (Loss) on Sale of Investments	-	-	-	-	0.25	-
Asset Writedown	-	-0.78	-4.06	-	-	-
Pretax Income	-36.63	-23.86	-14.36	-8.13	-3.04	-0.12
Income Tax Expense	0	0	0	0.11	-	-
Earnings From Continuing Operations	-36.63	-23.86	-14.36	-8.24	-3.04	-0.12
Minority Interest in Earnings	0.02	-	0.01	0.56	-0.09	-
Net Income	-36.6	-23.86	-14.35	-7.68	-3.14	-0.12
Net Income to Common	-36.6	-23.86	-14.35	-7.68	-3.14	-0.12
Basic Shares Outstanding	4	4	4	4	3	-
Diluted Shares Outstanding	4	4	4	4	3	-
Shares Change (YoY)	3.84%	1.12%	2.73%	4.06%	-	-
EPS (Basic)	-9.41	-6.34	-3.86	-2.12	-0.90	-
EPS (Diluted)	-9.41	-6.34	-3.86	-2.12	-0.90	-
Operating Margin	-254.23%	-504.30%	-458.16%	-683.47%	-366.60%	-101.98%
Profit Margin	-507.18%	-891.81%	-636.69%	-552.34%	-314.44%	-110.89%
EBITDA	-8.97	-7.98	-9.08	-8.45	-3.18	-0.07
EBITDA Margin	-124.28%	-298.24%	-	-	-	-66.34%
D&A For Ebitda	9.38	5.51	1.25	1.06	0.48	0.04
EBIT	-18.35	-13.49	-10.33	-9.51	-3.66	-0.11
EBIT Margin	-254.23%	-	-	-	-	-101.98%
Revenue as Reported	7.22	2.68	2.25	1.39	1	0.11

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Real Estate template. Financial Sources.

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