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Side-by-side financial comparison of KKR Real Estate Finance Trust Inc. (KREF) and WM TECHNOLOGY, INC. (MAPS). Click either name above to swap in a different company.
WM TECHNOLOGY, INC. is the larger business by last-quarter revenue ($43.1M vs $25.8M, roughly 1.7× KKR Real Estate Finance Trust Inc.). WM TECHNOLOGY, INC. runs the higher net margin — -8.3% vs -101.7%, a 93.5% gap on every dollar of revenue. On growth, WM TECHNOLOGY, INC. posted the faster year-over-year revenue change (-9.7% vs -26.6%). Over the past eight quarters, WM TECHNOLOGY, INC.'s revenue compounded faster (-1.5% 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.
WM Entertainment is a South Korean entertainment company established in 2008 by former singer Lee Won-min. The company is responsible for managing artist Oh My Girl. On April 7, 2021, the company was acquired by RBW.
KREF vs MAPS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $25.8M | $43.1M |
| Net Profit | $-26.2M | $-3.6M |
| Gross Margin | — | 94.9% |
| Operating Margin | -105.1% | -13.5% |
| Net Margin | -101.7% | -8.3% |
| Revenue YoY | -26.6% | -9.7% |
| Net Profit YoY | -229.6% | -251.9% |
| EPS (diluted) | $-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 | $25.8M | $43.1M | ||
| Q3 25 | $25.3M | $42.2M | ||
| Q2 25 | $30.2M | $44.8M | ||
| Q1 25 | $31.3M | $44.6M | ||
| Q4 24 | $35.1M | $47.7M | ||
| Q3 24 | $37.0M | $46.6M | ||
| Q2 24 | $40.4M | $45.9M | ||
| Q1 24 | $39.1M | $44.4M |
| Q4 25 | $-26.2M | $-3.6M | ||
| Q3 25 | $13.8M | $2.5M | ||
| Q2 25 | $-29.7M | $1.4M | ||
| Q1 25 | $-4.9M | $1.6M | ||
| Q4 24 | $20.3M | $2.4M | ||
| Q3 24 | $-7.4M | $3.3M | ||
| Q2 24 | $25.8M | $716.0K | ||
| Q1 24 | $-3.1M | $1.2M |
| Q4 25 | — | 94.9% | ||
| Q3 25 | — | 95.0% | ||
| Q2 25 | — | 94.9% | ||
| Q1 25 | — | 95.0% | ||
| Q4 24 | — | 95.2% | ||
| Q3 24 | — | 95.3% | ||
| Q2 24 | — | 95.1% | ||
| Q1 24 | — | 94.8% |
| Q4 25 | -105.1% | -13.5% | ||
| Q3 25 | 50.4% | 4.6% | ||
| Q2 25 | -101.3% | 4.4% | ||
| Q1 25 | -18.3% | 5.9% | ||
| Q4 24 | 55.8% | 9.6% | ||
| Q3 24 | -19.6% | 11.2% | ||
| Q2 24 | 63.3% | 2.7% | ||
| Q1 24 | -8.7% | 8.5% |
| Q4 25 | -101.7% | -8.3% | ||
| Q3 25 | 54.4% | 5.8% | ||
| Q2 25 | -98.5% | 3.2% | ||
| Q1 25 | -15.5% | 3.7% | ||
| Q4 24 | 57.7% | 4.9% | ||
| Q3 24 | -20.0% | 7.2% | ||
| Q2 24 | 63.9% | 1.6% | ||
| Q1 24 | -7.9% | 2.8% |
| Q4 25 | $-0.49 | — | ||
| Q3 25 | $0.12 | — | ||
| Q2 25 | $-0.53 | — | ||
| Q1 25 | $-0.15 | $0.02 | ||
| Q4 24 | $0.22 | — | ||
| Q3 24 | $-0.19 | — | ||
| Q2 24 | $0.29 | — | ||
| Q1 24 | $-0.13 | $0.01 |
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 | $62.4M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.2B | $57.2M |
| Total Assets | $6.5B | $190.7M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $84.6M | $62.4M | ||
| Q3 25 | $204.1M | — | ||
| Q2 25 | $107.7M | — | ||
| Q1 25 | $106.4M | — | ||
| Q4 24 | $104.9M | $52.0M | ||
| Q3 24 | $108.8M | — | ||
| Q2 24 | $107.2M | — | ||
| Q1 24 | $106.5M | — |
| Q4 25 | $1.2B | $57.2M | ||
| Q3 25 | $1.2B | $56.9M | ||
| Q2 25 | $1.2B | $52.7M | ||
| Q1 25 | $1.3B | $48.5M | ||
| Q4 24 | $1.3B | $36.1M | ||
| Q3 24 | $1.4B | $29.5M | ||
| Q2 24 | $1.4B | $24.5M | ||
| Q1 24 | $1.4B | $20.8M |
| Q4 25 | $6.5B | $190.7M | ||
| Q3 25 | $6.5B | $192.9M | ||
| Q2 25 | $6.8B | $188.1M | ||
| Q1 25 | $6.6B | $183.8M | ||
| Q4 24 | $6.4B | $181.9M | ||
| Q3 24 | $6.8B | $173.6M | ||
| Q2 24 | $7.1B | $168.0M | ||
| Q1 24 | $7.3B | $165.8M |
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 | $3.0M |
| Free Cash FlowOCF − Capex | — | $-280.0K |
| FCF MarginFCF / Revenue | — | -0.7% |
| Capex IntensityCapex / Revenue | — | 7.7% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $13.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $72.3M | $3.0M | ||
| Q3 25 | $18.5M | $6.4M | ||
| Q2 25 | $21.1M | $11.1M | ||
| Q1 25 | $15.9M | $5.7M | ||
| Q4 24 | $132.6M | $9.4M | ||
| Q3 24 | $49.1M | $7.2M | ||
| Q2 24 | $30.6M | $12.7M | ||
| Q1 24 | $34.5M | $7.4M |
| Q4 25 | — | $-280.0K | ||
| Q3 25 | — | $3.6M | ||
| Q2 25 | — | $8.2M | ||
| Q1 25 | — | $2.0M | ||
| Q4 24 | — | $7.3M | ||
| Q3 24 | — | $4.9M | ||
| Q2 24 | — | $10.1M | ||
| Q1 24 | — | $2.9M |
| Q4 25 | — | -0.7% | ||
| Q3 25 | — | 8.4% | ||
| Q2 25 | — | 18.3% | ||
| Q1 25 | — | 4.5% | ||
| Q4 24 | — | 15.2% | ||
| Q3 24 | — | 10.4% | ||
| Q2 24 | — | 21.9% | ||
| Q1 24 | — | 6.4% |
| Q4 25 | — | 7.7% | ||
| Q3 25 | — | 6.8% | ||
| Q2 25 | — | 6.3% | ||
| Q1 25 | — | 8.2% | ||
| Q4 24 | — | 4.5% | ||
| Q3 24 | — | 5.1% | ||
| Q2 24 | — | 5.7% | ||
| Q1 24 | — | 10.2% |
| Q4 25 | — | — | ||
| Q3 25 | 1.34× | 2.61× | ||
| Q2 25 | — | 7.75× | ||
| Q1 25 | — | 3.44× | ||
| Q4 24 | 6.54× | 4.00× | ||
| Q3 24 | — | 2.17× | ||
| Q2 24 | 1.19× | 17.67× | ||
| Q1 24 | — | 5.97× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
KREF
Segment breakdown not available.
MAPS
| Services | $39.5M | 92% |
| Other | $3.6M | 8% |
