NexPoint Real Estate Finance, Inc. (NREF) Revenue History
Annual and quarterly revenue from 2015 to 2025
Compound Annual Growth Rate (CAGR)
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NREF Revenue Growth
Revenue Breakdown (FY 2024)
NREF's revenue distribution by segment and geography for fiscal year 2024
By Product/Segment
NREF Revenue Analysis (2015–2025)
As of May 8, 2026, NexPoint Real Estate Finance, Inc. (NREF) generated trailing twelve-month (TTM) revenue of $126.1 million, reflecting significant decline in growth of -11.1% year-over-year. The most recent quarter (Q4 2025) recorded $33.7 million in revenue, up 3.8% sequentially.
Looking at the longer-term picture, NREF's 5-year compound annual growth rate (CAGR) stands at +45.3%, indicating outstanding long-term growth trajectory. The company achieved its highest annual revenue of $126.1 million in 2025, representing a new all-time high.
Revenue diversification analysis shows NREF's business is primarily driven by Rental Income (100%). With over half of revenue concentrated in Rental Income, the company maintains significant focus in this area while developing other growth vectors.
When compared to Real Estate sector peers including KREF (-20.0% YoY), BXMT (-7.0% YoY), and GPMT (+249.6% YoY), NREF has underperformed the peer group in terms of revenue growth. Compare NREF vs KREF →
NREF Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| NREFCurrent | $126M | -11.1% | +45.3% | 129.7% | |
 KREF | $458M | -20.0% | +11.2% | 59.3% | |
 BXMT | $1.5B | -7.0% | +14.4% | 71.6% | |
 GPMT | $145M | +249.6% | +6.7% | 43.6% | |
 TRTX | $333M | +307.7% | +32.7% | 73.0% | |
 ACRE | $85M | +112.4% | +1.6% | 72.4% |
NREF Historical Revenue Data (2015–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $126.1M | +14.3% | $112.1M | 88.9% | $163.6M | 129.7% |
| 2024 | $110.3M | +162.1% | $99.3M | 90.0% | $84.8M | 76.8% |
| 2023 | $42.1M | +4.2% | $37.9M | 90.1% | $25.4M | 60.4% |
| 2022 | $40.4M | +16.2% | $36.0M | 89.1% | $25.6M | 63.4% |
| 2021 | $34.8M | +78.3% | $34.8M | 100.0% | $0 | - |
| 2020 | $19.5M | -43.1% | $19.5M | 100.0% | $0 | - |
| 2018 | $34.3M | +782.2% | $23.2M | 67.7% | $19.4M | 56.6% |
| 2016 | $3.9M | +158.2% | $2.4M | 62.5% | $-721,000 | -18.6% |
| 2015 | $1.5M | - | $904K | 60.1% | $-1,234,000 | -82.0% |
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Start ComparisonNREF — Frequently Asked Questions
Quick answers to the most common questions about buying NREF stock.
Is NREF's revenue growth accelerating or slowing?
NREF revenue declined -11.1% year-over-year, contrasting with the 5-year CAGR of +45.3%. TTM revenue fell to $126M. This reverses the prior growth trend.
What is NREF's long-term revenue growth rate?
NexPoint Real Estate Finance, Inc.'s 5-year revenue CAGR of +45.3% reflects the variable expansion pattern. Current YoY growth of -11.1% is below this long-term average.
How is NREF's revenue distributed by segment?
NREF reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2015-2025 are available for download. Segment mix reveals concentration and diversification trends.