InPoint Commercial Real Estate Income, Inc.

Listed Company

ICRPCIK 0001690012OTCNon-AcceleratedSmaller ReportingReal Estate Investment TrustsMarylandFY ends Dec 31

Period

FY 2025

Revenue

$23.01M

Net Income

$-1.57M

Total Assets

$529.24M

Equity

$226.25M

Shares Out

7.53M

Op. Cash Flow

$11.39M

Business

InPoint Commercial Real Estate Income, Inc. holds and manages a diversified portfolio of commercial real estate (CRE) investments, focusing primarily on CRE debt. The company offers investments in floating-rate first mortgage loans, subordinate mortgage and mezzanine loans, loan participations, floating-rate CRE securities (including CMBS), senior unsecured REIT debt and selective single-tenant net leased equity investments. It operates through an externally managed structure with an Advisor and a delegated Sub-Advisor responsible for origination, acquisition, portfolio management and disposition. The company invests primarily in U.S. real estate and distributes shares through registered public offerings, a distribution reinvestment plan and a periodic share repurchase program (when operative).

Summary from filing dated 2025-03-14

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Interest income	38	58	68	45	29
Less: Interest expense	−24	−37	−42	−21	—
Net interest income	14	22	26	23	20
Revenue from real estate	9	3	13	15	8
Total income	23	24	39	38	28
Advisory fee	3	3	3	4	3
Amortization of debt finance costs	1	1	2	2	1
Directors compensation	76,000	78,000	80,000	81,000	73,000
Professional service fees	1	936,000	286,000	914,000	1
Real estate operating expenses	6	2	12	15	10
Provision for asset impairment	0	0	7	0	0
Depreciation and amortization	5	2	514,000	1	1
Other expenses	1	1	2	1	1
Total operating expenses	18	10	26	24	18
Reversal of (provision for) credit losses	1	−2	−17	−4	0
Gain on sale of real estate	0	0	206,000	0	0
Net realized (loss) gain on disposition of commercial loans	−8	929,000	0	0	—
Total other loss	−7	−1	−17	−4	0
Net (loss) income before income taxes	−2	13	−4	10	10
Income tax provision	0	0	−22,000	0	0
Net (loss) income	−2	13	−4	10	10
Gain on repurchase and retirement of preferred stock	0	0	21,000	306,000	0
Net (loss) income attributable to common stockholders	−8	7	−10	4	8
Net (loss) income per share attributable to common stockholders, basic	−0.75	0.66	−1.03	0.42	0.72
Net (loss) income per share attributable to common stockholders, diluted	−0.75	0.66	−1.03	0.42	0.72
Basic	10	10	10	11	11
Diluted	10	10	10	11	11

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	77	65	54	29	57
Restricted cash	3	0	—	—	—
Commercial mortgage loans at cost	352	563	744	846	—
Allowance for credit losses	−4	−14	−22	−4	—
Carrying Value	348	549	722	842	665
Real estate owned, net of depreciation	93	40	0	31	32
Acquired lease intangible assets, net	4	3	0	—	—
Deferred debt finance costs	438,000	453,000	604,000	872,000	1
Accrued interest receivable	1	3	3	3	1
Prepaid expenses and other assets	3	2	312,000	2	2
Total assets	529	661	780	914	764
Repurchase agreements	223	361	457	488	307
Loan participations sold, net	47	49	57	99	110
Mortgage loan payable, net	24	0	—	—	—
Acquired lease intangible liabilities, net	598,000	404,000	0	—	—
Due to related parties	1	1	—	—	—
Accrued interest payable	3	2	2	1	364,000
Distributions payable	1	1	1	1	1
Accrued expenses and other liabilities	3	2	762,000	—	—
Total liabilities	303	417	530	636	457
Commitments and contingencies (Note 8)	—	—	—	—	—
6.75% Series A Cumulative Redeemable Preferred Stock, $0.001 par value, 4,025,000 shares authorized, 3,544,553 shares issued and outstanding as of December 31, 2025 and December 31, 2024	4,000	4,000	4,000	4,000	4,000
Additional paid in capital	341	340	340	339	359
Accumulated deficit	−115	−95	−89	−61	−52
Total stockholders' equity	226	245	251	279	307
Total liabilities and stockholders equity	529	661	780	914	764

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization expense	5	2	514,000	1	1
Reduction in the carrying amount of the right-of-use asset	0	0	30,000	72,000	71,000
Amortization of acquired above- and below-market leases, net	−77,000	−36,000	0	0	—
Amortization of equity-based compensation	30,000	30,000	31,000	32,000	34,000
Amortization of debt finance costs to operating expense	1	1	2	2	1
Amortization of debt finance costs to interest expense	87,000	0	3,000	120,000	69,000
Amortization of origination fees	0	0	−15,000	−217,000	−702,000
Amortization of deferred exit fees	0	0	36,000	0	6,000
Amortization of loan extension fees	−881,000	−529,000	−652,000	−317,000	−314,000
Accrued interest receivable	891,000	542,000	−162,000	−2	−248,000
Accrued expenses and other liabilities	933,000	2	−7	3	—
Accrued interest payable	344,000	735,000	715,000	1	387,000
Due to related parties	−411,000	6,000	47,000	−671,000	456,000
Prepaid expenses and other assets	−1	−1	2	−164,000	−1
Net cash provided by operating activities	11	18	16	19	12
Origination/funding of commercial loans	−2	−10	−23	−301	−337
Loan extension fees received on commercial loans	665,000	520,000	637,000	584,000	231,000
Principal repayments of commercial loans	100	124	108	120	115
Proceeds from sale of commercial loan	39	14	0	0	—
Real estate capital expenditures	−931,000	0	−496,000	−810,000	−150,000
Proceeds from sale of real estate	0	0	12	0	—
Net cash provided by investing activities	136	128	97	−181	−222
Proceeds from issuance of common stock	0	0	342,000	5	199,000
Repurchase of preferred stock	0	0	−83,000	−977,000	—
Payment of offering costs	−36,000	−121,000	−282,000	−2	−5
Reimbursement Of Offering Costs	2	—	—	—	—
Proceeds from repurchase agreements	0	12	360	259	194
Principal repayments of repurchase agreements	−137	−109	−391	−78	−178
Proceeds From Mortgage Loan Payable	25	—	—	—	—
Principal repayments of credit facility	0	−9	−9	−14	—
Proceeds from sale of loan participations	66,000	0	435,000	5	110
Principal repayments of loan participations	−2	−9	−29	−15	—
Debt finance costs	−2	−1	−2	−1	−2
Distributions paid to common stockholders	−13	−13	−13	−12	−12
Distributions paid to preferred stockholders	−6	−6	−6	−6	−2
Net cash used in financing activities	−133	−135	−88	134	196
Net change in cash, cash equivalents and restricted cash	15	10	25	−28	−15
Amortization of deferred exit fees due to related party	661,000	−593,000	−176,000	82,000	430,000
Interest paid	23	37	42	20	9
Net assets acquired upon foreclosure of commercial loans	59	44	0	0	—
Deferred interest capitalized on real estate loan	631,000	—	—	—	—
Accrued stockholder servicing fee due to related party	−36,000	−34,000	−39,000	−108,000	−85,000
Accrued capital expenditures	0	−62,000	0	0	—
Distribution reinvestment	0	0	85,000	725,000	583,000

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