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 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Property Revenue	11.68	9.19	2.68	2.25	1.39	1
Revenue	11.68	9.19	2.68	2.25	1.39	1
Revenue Growth (YoY)	186.56%	243.44%	18.68%	62.04%	39.52%	887.13%
Property Expenses	17.26	14.97	6.84	4.18	3.81	1.14
Total Property Expenses	17.26	14.97	6.84	4.18	3.81	1.14
Gross Profit	-5.58	-5.78	-4.16	-1.93	-2.42	-0.14
Selling, General & Admin	6.35	6.17	5.11	6.34	5.8	2.92
Depreciation & Amortization Expenses	9.87	8.71	4.22	2.07	1.29	0.59
Other Operating Expenses	-	-	0.78	4.06	-	-
Operating Income	-21.79	-20.65	-14.27	-14.39	-9.51	-3.66
Interest Income	0.99	1.03	0.65	0.11	1.85	0.37
Interest Expense	-18.37	-17.44	-10.01	-	-	-
Other Non-Operating Income (Expense)	-2.95	-3.01	-0.23	-0.09	-0.47	0.24
Total Non-Operating Income (Expense)	-20.33	-19.42	-9.59	0.03	1.38	0.61
Pretax Income	-42.12	-40.07	-23.86	-14.36	-8.13	-3.04
Provision for Income Taxes	-	-	-0	-0	-0.11	-
Net Income	-42.09	-40.05	-23.86	-14.35	-7.68	-3.14
Minority Interest in Earnings	0.03	0.03	-	0.01	0.56	-0.09
Net Income to Common	-42.09	-40.05	-23.86	-14.35	-7.68	-3.14
Shares Outstanding (Basic)	4	4	4	4	3	0
Shares Outstanding (Diluted)	4	4	4	4	3	0
Shares Change (YoY)	3.90%	2.68%	2.39%	4.00%	732.91%	410094.00%
EPS (Basic)	-11.10	-10.72	-6.56	-4.04	-2.25	-7.64
EPS (Diluted)	-11.10	-10.72	-6.56	-4.04	-2.25	-7.64
Shares Outstanding	4	3.94	3.76	3.72	3.52	3.48
Free Cash Flow	-76.11	-87	-151.53	-151.87	-73.5	-62.26
Free Cash Flow Per Share	-20.09	-23.29	-41.65	-42.74	-21.51	-151.79
Gross Margin	-47.77%	-62.90%	-155.66%	-85.40%	-173.83%	-14.34%
Operating Margin	-186.54%	-224.80%	-533.35%	-638.29%	-683.47%	-366.60%
Profit Margin	-360.53%	-436.17%	-891.81%	-637.18%	-592.24%	-305.12%
FCF Margin	-651.43%	-946.95%	-5664.82%	-6737.71%	-5284.04%	-6245.04%
EBITDA	-9.64	-9.8	-8.75	-12.32	-8.22	-3.18
EBITDA Margin	-82.49%	-106.69%	-327.21%	-546.58%	-590.65%	-318.56%
EBIT	-21.79	-20.65	-14.27	-14.39	-9.51	-3.66
EBIT Margin	-186.54%	-224.80%	-533.35%	-638.29%	-683.47%	-366.60%
Effective Tax Rate	-	0.00%	0.00%	0.01%	1.38%	0.00%

Updated May 12, 2026. Data Source: Fiscal.ai. Real Estate template. Financial Sources.

SEC Filings: 10-K · 10-Q