| Cash Flow | 2025-09-30 | 2025-06-30 |
|---|---|---|
| Net income (loss) | 86,697 | 57,379 |
| Depreciation and amortization | 6,436 | 4,323 |
| Stock-based compensation expense | 9,679 | 6,568 |
| Deferred operating lease income | 22,782 | 15,208 |
| Non-cash interest income from sales-type leases | 75,343 | 49,506 |
| Non-cash interest expense | 9,351 | 6,882 |
| Amortization of real estate-related intangibles, net | 1,732 | 1,155 |
| Write-off of investment in preferred equity | 1,945 | 1,945 |
| Provision for credit losses | 5,671 | 4,646 |
| Earnings from equity method investments | 14,558 | 9,904 |
| Distributions from operations of equity method investments | 6,012 | 4,795 |
| Amortization of premium, discount and deferred financing costs on debt obligations, net | 6,151 | 4,097 |
| Proceeds received from derivative transactions | 13,127 | - |
| Other operating activities | -1,446 | -1,414 |
| Changes in deferred expenses and other assets, net | -2,567 | -15,378 |
| Changes in accounts payable, accrued expenses and other liabilities | 256 | 5,766 |
| Cash flows provided by (used in) operating activities | 35,495 | 36,902 |
| Origination/acquisition of net investment in sales-type leases and ground lease receivables | 129,287 | 81,293 |
| Origination of loans receivable, net | 45,309 | 42,090 |
| Contributions to equity method investments | 23,839 | 15,387 |
| Distributions from equity method investments | 9,528 | 9,528 |
| Net proceeds received from sale of real estate available and held for sale | 3,180 | 1,809 |
| Proceeds received from derivative transactions | 5,055 | 3,351 |
| Other investing activities | -487 | -121 |
| Cash flows provided by (used in) investing activities | -180,185 | -123,961 |
| Proceeds from debt obligations | 923,735 | 543,000 |
| Repayments of debt obligations | 732,000 | 420,000 |
| Payments for deferred financing costs | 466 | 441 |
| Dividends paid to common shareholders | 38,231 | 25,538 |
| Payments for withholding taxes upon vesting for stock-based compensation | 3,975 | 3,975 |
| Redemption of noncontrolling interests | 125 | 125 |
| Distributions to noncontrolling interests | 46 | 43 |
| Other financing activities | -61 | - |
| Cash flows provided by (used in) financing activities | 148,831 | 92,878 |
| Changes in cash, cash equivalents and restricted cash | 4,141 | 5,819 |
| Cash and cash equivalents at beginning of period | 17,118 | - |
| Cash and cash equivalents at end of period | 21,259 | - |
Safehold Inc. (SAFE)
Safehold Inc. (SAFE)