$NREF
NexPoint Real Estate Finance, Inc.

2020 Q1 Form 10-Q Financial Statement

#000156459020023592 Filed on May 08, 2020

View on sec.gov

Income Statement

Concept 2020 Q1
Revenue -$18.13M
YoY Change
Cost Of Revenue $3.990M
YoY Change
Gross Profit -$22.11M
YoY Change
Gross Profit Margin
Selling, General & Admin $540.0K
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $1.199M
YoY Change
Operating Profit -$23.31M
YoY Change
Interest Expense $3.331M
YoY Change
% of Operating Profit
Other Income/Expense, Net -$24.92M
YoY Change
Pretax Income -$22.87M
YoY Change
Income Tax
% Of Pretax Income
Net Earnings -$6.353M
YoY Change
Net Earnings / Revenue
Basic Earnings Per Share -$1.22
Diluted Earnings Per Share -$1.22
COMMON SHARES
Basic Shares Outstanding 5.223M
Diluted Shares Outstanding 5.223M

Balance Sheet

Concept 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $200.0K
YoY Change
Cash & Equivalents $197.0K
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $200.0K
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $2.687B
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $2.715B
YoY Change
TOTAL ASSETS
Total Short-Term Assets $200.0K
Total Long-Term Assets $2.715B
Total Assets $2.715B
YoY Change
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.600M
YoY Change
Accrued Expenses $900.0K
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due $0.00
YoY Change
Total Short-Term Liabilities $2.500M
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt $2.396B
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $2.396B
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $2.500M
Total Long-Term Liabilities $2.396B
Total Liabilities $2.399B
YoY Change
SHAREHOLDERS EQUITY
Retained Earnings -$7.510M
YoY Change
Common Stock $91.95M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $83.10M
YoY Change
Total Liabilities & Shareholders Equity $2.715B
YoY Change

Cashflow Statement

Concept 2020 Q1
OPERATING ACTIVITIES
Net Income -$6.353M
YoY Change
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities $5.145M
YoY Change
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $30.94M
YoY Change
Cash From Investing Activities $30.94M
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net -$90.61M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -35.88M
YoY Change
NET CHANGE
Cash From Operating Activities 5.145M
Cash From Investing Activities 30.94M
Cash From Financing Activities -35.88M
Net Change In Cash 197.0K
YoY Change
FREE CASH FLOW
Cash From Operating Activities $5.145M
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2020Q1 dei Trading Symbol
TradingSymbol
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CY2020Q1 dei Security12b Title
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CY2020Q1 dei Security Exchange Name
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NYSE
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Assets
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CY2020Q1 us-gaap Liabilities
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CY2020Q1 us-gaap Preferred Stock Value
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CY2020Q1 us-gaap Management Fee Expense
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CY2020Q1 us-gaap Operating Expenses
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CY2020Q1 us-gaap Profit Loss
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CY2020Q1 us-gaap Net Income Loss
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CY2020Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2020Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2020Q1 us-gaap Earnings Per Share Basic
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CY2020Q1 us-gaap Common Stock Dividends Per Share Declared
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CY2020Q1 us-gaap Stock Issued During Period Value New Issues
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CY2020Q1 us-gaap Treasury Stock Value Acquired Cost Method
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1339000
CY2020Q1 us-gaap Dividends Common Stock
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CY2020Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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CY2020Q1 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
1060000
CY2020Q1 us-gaap Change In Unrealized Gain Loss On Fair Value Hedging Instruments1
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-26901000
CY2020Q1 us-gaap Increase Decrease In Accrued Interest Receivable Net
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1632000
CY2020Q1 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
1096000
CY2020Q1 us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
932000
CY2020Q1 us-gaap Increase Decrease In Other Accounts Payable And Accrued Liabilities
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1636000
CY2020Q1 us-gaap Net Cash Provided By Used In Operating Activities
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5145000
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2281000
CY2020Q1 us-gaap Proceeds From Sale Of Loans Held For Investment
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CY2020Q1 us-gaap Proceeds From Issuance Initial Public Offering
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91948000
CY2020Q1 us-gaap Payments For Repurchase Of Common Stock
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1339000
CY2020Q1 us-gaap Payments Of Dividends Common Stock
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CY2020Q1 us-gaap Payments For Repurchase Of Redeemable Noncontrolling Interest
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2019000
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
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InterestPaidNet
3054000
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NoncashOrPartNoncashContributionFormNoncontrollingInterest
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CY2020Q1 us-gaap Noncash Or Part Noncash Acquisition Debt Assumed1
NoncashOrPartNoncashAcquisitionDebtAssumed1
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CY2020Q1 us-gaap Use Of Estimates
UseOfEstimates
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-style:italic;font-family:Times New Roman;font-size:10pt;font-weight:normal;text-transform:none;font-variant: normal;">Use of Estimates and Assumptions</p> <p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosures of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of revenues and expenses during the reporting periods. It is at least reasonably possible that these estimates could change in the near term.&nbsp;&nbsp;Estimates are inherently subjective in nature and actual results could differ from our estimates and the differences could be material. </p> <p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Since being reported in December 2019, COVID-19 has spread globally, including to every state in the United States. On March 11, 2020, the World Health Organization declared COVID-19 a pandemic, and on March 13, 2020, the United States declared a national emergency with respect to COVID-19.</p> <p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The COVID-19 pandemic has had, and another pandemic in the future could have, repercussions across regional and global economies and financial markets. The outbreak of COVID-19 in many countries has significantly adversely impacted global economic activity and has contributed to significant volatility and negative pressure in financial markets. The global impact of the outbreak has been rapidly evolving and, as cases of COVID-19 have continued to be identified in additional countries, many countries, including the United States, have reacted by instituting quarantines, mandating business and school closures and restricting travel. </p> <p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Certain states and cities have reacted to the COVID-19 pandemic by instituting quarantines, restrictions on travel, &#8220;shelter in place&#8221; rules, restrictions on the types of business that may continue to operate, and/or restrictions on the types of construction projects that may continue. The Company expects that additional states and cities will implement similar restrictions and cannot predict when such restrictions will expire. As a result, the COVID-19 pandemic is negatively impacting almost every industry directly or indirectly and may adversely impact our performance or the value of underlying real estate collateral relating to the Company&#8217;s investments, increase the default risk applicable to borrowers and make it relatively more difficult for the Company to generate attractive risk-adjusted returns. The extent to which COVID-19 impacts the Company will depend on future developments, which are highly uncertain and cannot be predicted, including additional actions taken to contain COVID-19 or treat its impact, among others. The COVID-19 outbreak, and future pandemics, could materially and adversely impact or disrupt our financial condition, results of operations, cash flows and performance.&nbsp;&nbsp;COVID-19 may also negatively and materially impact estimates and assumptions used by the Company including, but not limited to, fair value estimates and estimates of an allowance for loan losses. </p>
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CY2020Q1 dei Entity Incorporation Date Of Incorporation
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2019-06-07
CY2020Q1 nref Minimum Percentage Of Distributed Taxable Income To Qualify As Reit
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CY2020Q1 nref Loans Held For Investment Percentage Of Loan Portfolio
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CY2020Q1 nref Percentage Of Loans Held For Investment
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CY2020Q1 us-gaap Stock Repurchase Program Expiration Date
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CY2020Q1 us-gaap Common Stock Par Or Stated Value Per Share
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CY2020Q1 us-gaap Dividends Payable Amount Per Share
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CY2020Q1 us-gaap Dividends Payable Date Declared Day Month And Year
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2020-03-16
CY2020Q1 us-gaap Dividend Payable Date To Be Paid Day Month And Year
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2020-03-31
CY2020Q1 us-gaap Dividends Payable Date Of Record Day Month And Year
DividendsPayableDateOfRecordDayMonthAndYear
2020-03-23
CY2020Q1 nref Conversion Ratio Of Operating Partnership Unit To Common Stock
ConversionRatioOfOperatingPartnershipUnitToCommonStock
1.00
CY2020Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
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-6353000
CY2020Q1 us-gaap Temporary Equity Net Income
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CY2020Q1 nref Contributions From Redeemable Noncontrolling Interests On Operating Partnership
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CY2020Q1 nref Distributions To Redeemable Noncontrolling Interests On Operating Partnership
DistributionsToRedeemableNoncontrollingInterestsOnOperatingPartnership
2019000
CY2020Q1 us-gaap Payment For Management Fee
PaymentForManagementFee
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Files In Submission

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