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Side-by-side financial comparison of KKR Real Estate Finance Trust Inc. (KREF) and LIFECORE BIOMEDICAL, INC. \DE\ (LFCR). Click either name above to swap in a different company.
LIFECORE BIOMEDICAL, INC. \DE\ is the larger business by last-quarter revenue ($31.1M vs $25.8M, roughly 1.2× KKR Real Estate Finance Trust Inc.). LIFECORE BIOMEDICAL, INC. \DE\ runs the higher net margin — -32.1% vs -101.7%, a 69.6% gap on every dollar of revenue. On growth, LIFECORE BIOMEDICAL, INC. \DE\ posted the faster year-over-year revenue change (-4.5% vs -26.6%). Over the past eight quarters, LIFECORE BIOMEDICAL, INC. \DE\'s revenue compounded faster (-0.1% CAGR vs -18.8%).
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.
LIFECORE BIOMEDICAL, INC. is a biomedical firm focused on developing and manufacturing high-quality hyaluronic acid-based biomaterials. It operates three core segments: medical application products, pharmaceutical solutions, and personal care ingredients, with main markets spanning North America, Europe and the Asia-Pacific, supplying to leading medical device, pharmaceutical and cosmetic brand partners.
KREF vs LFCR — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $25.8M | $31.1M |
| Net Profit | $-26.2M | $-10.0M |
| Gross Margin | — | 25.0% |
| Operating Margin | -105.1% | -9.9% |
| Net Margin | -101.7% | -32.1% |
| Revenue YoY | -26.6% | -4.5% |
| Net Profit YoY | -229.6% | -52.0% |
| EPS (diluted) | $-0.49 | $-0.29 |
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 | $25.8M | — | ||
| Q3 25 | $25.3M | $31.1M | ||
| Q2 25 | $30.2M | — | ||
| Q1 25 | $31.3M | $35.2M | ||
| Q4 24 | $35.1M | $32.6M | ||
| Q3 24 | $37.0M | $24.7M | ||
| Q2 24 | $40.4M | — | ||
| Q1 24 | $39.1M | $35.7M |
| Q4 25 | $-26.2M | — | ||
| Q3 25 | $13.8M | $-10.0M | ||
| Q2 25 | $-29.7M | — | ||
| Q1 25 | $-4.9M | $-14.8M | ||
| Q4 24 | $20.3M | $-6.6M | ||
| Q3 24 | $-7.4M | $-16.2M | ||
| Q2 24 | $25.8M | — | ||
| Q1 24 | $-3.1M | $15.6M |
| Q4 25 | — | — | ||
| Q3 25 | — | 25.0% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 28.0% | ||
| Q4 24 | — | 34.0% | ||
| Q3 24 | — | 21.8% | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 33.3% |
| Q4 25 | -105.1% | — | ||
| Q3 25 | 50.4% | -9.9% | ||
| Q2 25 | -101.3% | — | ||
| Q1 25 | -18.3% | -25.7% | ||
| Q4 24 | 55.8% | -6.0% | ||
| Q3 24 | -19.6% | -46.9% | ||
| Q2 24 | 63.3% | — | ||
| Q1 24 | -8.7% | -2.5% |
| Q4 25 | -101.7% | — | ||
| Q3 25 | 54.4% | -32.1% | ||
| Q2 25 | -98.5% | — | ||
| Q1 25 | -15.5% | -42.0% | ||
| Q4 24 | 57.7% | -20.2% | ||
| Q3 24 | -20.0% | -65.7% | ||
| Q2 24 | 63.9% | — | ||
| Q1 24 | -7.9% | 43.8% |
| Q4 25 | $-0.49 | — | ||
| Q3 25 | $0.12 | $-0.29 | ||
| Q2 25 | $-0.53 | — | ||
| Q1 25 | $-0.15 | $-0.47 | ||
| Q4 24 | $0.22 | $-0.25 | ||
| Q3 24 | $-0.19 | $-0.53 | ||
| Q2 24 | $0.29 | — | ||
| Q1 24 | $-0.13 | $0.42 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $84.6M | $18.9M |
| Total DebtLower is stronger | — | $136.0M |
| Stockholders' EquityBook value | $1.2B | $-10.5M |
| Total Assets | $6.5B | $235.2M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $84.6M | — | ||
| Q3 25 | $204.1M | $18.9M | ||
| Q2 25 | $107.7M | — | ||
| Q1 25 | $106.4M | $5.4M | ||
| Q4 24 | $104.9M | $9.5M | ||
| Q3 24 | $108.8M | — | ||
| Q2 24 | $107.2M | — | ||
| Q1 24 | $106.5M | — |
| Q4 25 | — | — | ||
| Q3 25 | — | $136.0M | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $124.9M | ||
| Q4 24 | — | $111.3M | ||
| Q3 24 | — | $106.3M | ||
| Q2 24 | — | — | ||
| Q1 24 | — | $97.1M |
| Q4 25 | $1.2B | — | ||
| Q3 25 | $1.2B | $-10.5M | ||
| Q2 25 | $1.2B | — | ||
| Q1 25 | $1.3B | $2.2M | ||
| Q4 24 | $1.3B | $15.4M | ||
| Q3 24 | $1.4B | $-3.9M | ||
| Q2 24 | $1.4B | — | ||
| Q1 24 | $1.4B | $17.7M |
| Q4 25 | $6.5B | — | ||
| Q3 25 | $6.5B | $235.2M | ||
| Q2 25 | $6.8B | — | ||
| Q1 25 | $6.6B | $237.7M | ||
| Q4 24 | $6.4B | $255.4M | ||
| Q3 24 | $6.8B | $246.8M | ||
| Q2 24 | $7.1B | — | ||
| Q1 24 | $7.3B | $246.2M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 56.05× | ||
| Q4 24 | — | 7.20× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 5.49× |
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 | $72.3M | $1.8M |
| Free Cash FlowOCF − Capex | — | $25.0K |
| FCF MarginFCF / Revenue | — | 0.1% |
| Capex IntensityCapex / Revenue | — | 5.6% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-16.8M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $72.3M | — | ||
| Q3 25 | $18.5M | $1.8M | ||
| Q2 25 | $21.1M | — | ||
| Q1 25 | $15.9M | $1.2M | ||
| Q4 24 | $132.6M | $-6.1M | ||
| Q3 24 | $49.1M | $-613.0K | ||
| Q2 24 | $30.6M | — | ||
| Q1 24 | $34.5M | $-1.4M |
| Q4 25 | — | — | ||
| Q3 25 | — | $25.0K | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $-4.3M | ||
| Q4 24 | — | $-8.6M | ||
| Q3 24 | — | $-4.0M | ||
| Q2 24 | — | — | ||
| Q1 24 | — | $-7.8M |
| Q4 25 | — | — | ||
| Q3 25 | — | 0.1% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | -12.1% | ||
| Q4 24 | — | -26.3% | ||
| Q3 24 | — | -16.3% | ||
| Q2 24 | — | — | ||
| Q1 24 | — | -21.8% |
| Q4 25 | — | — | ||
| Q3 25 | — | 5.6% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 15.5% | ||
| Q4 24 | — | 7.5% | ||
| Q3 24 | — | 13.9% | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 17.8% |
| Q4 25 | — | — | ||
| Q3 25 | 1.34× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 6.54× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 1.19× | — | ||
| Q1 24 | — | -0.09× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
KREF
Segment breakdown not available.
LFCR
| Transferred At Point In Time | $26.6M | 85% |
| Transferred Over Time | $4.5M | 15% |
