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Side-by-side financial comparison of Foxx Development Holdings Inc. (FOXX) and KKR Real Estate Finance Trust Inc. (KREF). Click either name above to swap in a different company.
KKR Real Estate Finance Trust Inc. is the larger business by last-quarter revenue ($25.8M vs $16.7M, roughly 1.5× Foxx Development Holdings Inc.). Foxx Development Holdings Inc. runs the higher net margin — -25.6% vs -101.7%, a 76.1% gap on every dollar of revenue. On growth, Foxx Development Holdings Inc. posted the faster year-over-year revenue change (-4.4% vs -26.6%).
KKR Real Estate Finance Trust Inc. is a specialized real estate finance firm sponsored by global investment firm KKR. It primarily originates, acquires, and manages a portfolio of senior secured commercial real estate loans, mostly backed by high-quality institutional commercial properties across the United States, delivering stable risk-adjusted returns to investors via interest income from its diversified assets.
FOXX vs KREF — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $16.7M | $25.8M |
| Net Profit | $-4.3M | $-26.2M |
| Gross Margin | 13.3% | — |
| Operating Margin | -13.3% | -105.1% |
| Net Margin | -25.6% | -101.7% |
| Revenue YoY | -4.4% | -26.6% |
| Net Profit YoY | -400.9% | -229.6% |
| EPS (diluted) | $-0.62 | $-0.49 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $16.7M | $25.8M | ||
| Q3 25 | $20.2M | $25.3M | ||
| Q2 25 | $13.9M | $30.2M | ||
| Q1 25 | $11.4M | $31.3M | ||
| Q4 24 | $17.5M | $35.1M | ||
| Q3 24 | $23.1M | $37.0M | ||
| Q2 24 | — | $40.4M | ||
| Q1 24 | — | $39.1M |
| Q4 25 | $-4.3M | $-26.2M | ||
| Q3 25 | $-2.9M | $13.8M | ||
| Q2 25 | $-4.1M | $-29.7M | ||
| Q1 25 | $-4.1M | $-4.9M | ||
| Q4 24 | $1.4M | $20.3M | ||
| Q3 24 | $-2.3M | $-7.4M | ||
| Q2 24 | — | $25.8M | ||
| Q1 24 | — | $-3.1M |
| Q4 25 | 13.3% | — | ||
| Q3 25 | 13.6% | — | ||
| Q2 25 | 10.9% | — | ||
| Q1 25 | 5.8% | — | ||
| Q4 24 | 12.5% | — | ||
| Q3 24 | 1.7% | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | -13.3% | -105.1% | ||
| Q3 25 | -4.4% | 50.4% | ||
| Q2 25 | -15.0% | -101.3% | ||
| Q1 25 | -31.3% | -18.3% | ||
| Q4 24 | -12.8% | 55.8% | ||
| Q3 24 | -7.8% | -19.6% | ||
| Q2 24 | — | 63.3% | ||
| Q1 24 | — | -8.7% |
| Q4 25 | -25.6% | -101.7% | ||
| Q3 25 | -14.2% | 54.4% | ||
| Q2 25 | -29.4% | -98.5% | ||
| Q1 25 | -35.9% | -15.5% | ||
| Q4 24 | 8.1% | 57.7% | ||
| Q3 24 | -9.8% | -20.0% | ||
| Q2 24 | — | 63.9% | ||
| Q1 24 | — | -7.9% |
| Q4 25 | $-0.62 | $-0.49 | ||
| Q3 25 | $-0.42 | $0.12 | ||
| Q2 25 | $-0.44 | $-0.53 | ||
| Q1 25 | $-0.58 | $-0.15 | ||
| Q4 24 | $0.20 | $0.22 | ||
| Q3 24 | $-0.65 | $-0.19 | ||
| Q2 24 | — | $0.29 | ||
| Q1 24 | — | $-0.13 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $1.8M | $84.6M |
| Total DebtLower is stronger | $84.8K | — |
| Stockholders' EquityBook value | $-11.8M | $1.2B |
| Total Assets | $42.0M | $6.5B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.8M | $84.6M | ||
| Q3 25 | $1.5M | $204.1M | ||
| Q2 25 | $1.9M | $107.7M | ||
| Q1 25 | $3.8M | $106.4M | ||
| Q4 24 | $3.9M | $104.9M | ||
| Q3 24 | $9.2M | $108.8M | ||
| Q2 24 | — | $107.2M | ||
| Q1 24 | — | $106.5M |
| Q4 25 | $84.8K | — | ||
| Q3 25 | $90.2K | — | ||
| Q2 25 | $97.2K | — | ||
| Q1 25 | $100.5K | — | ||
| Q4 24 | $105.5K | — | ||
| Q3 24 | $110.3K | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $-11.8M | $1.2B | ||
| Q3 25 | $-7.9M | $1.2B | ||
| Q2 25 | $-5.4M | $1.2B | ||
| Q1 25 | $-1.6M | $1.3B | ||
| Q4 24 | $2.2M | $1.3B | ||
| Q3 24 | $457.2K | $1.4B | ||
| Q2 24 | — | $1.4B | ||
| Q1 24 | — | $1.4B |
| Q4 25 | $42.0M | $6.5B | ||
| Q3 25 | $49.8M | $6.5B | ||
| Q2 25 | $26.0M | $6.8B | ||
| Q1 25 | $32.9M | $6.6B | ||
| Q4 24 | $31.9M | $6.4B | ||
| Q3 24 | $49.5M | $6.8B | ||
| Q2 24 | — | $7.1B | ||
| Q1 24 | — | $7.3B |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.05× | — | ||
| Q3 24 | 0.24× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $284.2K | $72.3M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $284.2K | $72.3M | ||
| Q3 25 | $-376.8K | $18.5M | ||
| Q2 25 | $-1.9M | $21.1M | ||
| Q1 25 | $-178.4K | $15.9M | ||
| Q4 24 | $-4.2M | $132.6M | ||
| Q3 24 | $-243.5K | $49.1M | ||
| Q2 24 | — | $30.6M | ||
| Q1 24 | — | $34.5M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $-4.3M | — | ||
| Q3 24 | $-278.5K | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | -24.4% | — | ||
| Q3 24 | -1.2% | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 0.0% | — | ||
| Q1 25 | 0.0% | — | ||
| Q4 24 | 0.2% | — | ||
| Q3 24 | 0.2% | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | — | ||
| Q3 25 | — | 1.34× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | -2.97× | 6.54× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 1.19× | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
