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Side-by-side financial comparison of KKR Real Estate Finance Trust Inc. (KREF) and UroGen Pharma Ltd. (URGN). Click either name above to swap in a different company.
UroGen Pharma Ltd. is the larger business by last-quarter revenue ($37.8M vs $25.8M, roughly 1.5× KKR Real Estate Finance Trust Inc.). On growth, UroGen Pharma Ltd. posted the faster year-over-year revenue change (54.0% vs -26.6%). Over the past eight quarters, UroGen Pharma Ltd.'s revenue compounded faster (41.9% 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.
UroGen Pharma Ltd. is a clinical-stage biopharmaceutical company focused on developing and commercializing innovative therapies for urological diseases and specialty cancers. Its core offerings target unmet medical needs for conditions including non-muscle invasive bladder cancer, with primary operations and sales markets across North America and Europe.
KREF vs URGN — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $25.8M | $37.8M |
| Net Profit | $-26.2M | — |
| Gross Margin | — | 91.3% |
| Operating Margin | -105.1% | -50.5% |
| Net Margin | -101.7% | — |
| Revenue YoY | -26.6% | 54.0% |
| Net Profit YoY | -229.6% | — |
| 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 | $37.8M | ||
| Q3 25 | $25.3M | $27.5M | ||
| Q2 25 | $30.2M | $24.2M | ||
| Q1 25 | $31.3M | $20.3M | ||
| Q4 24 | $35.1M | $24.6M | ||
| Q3 24 | $37.0M | $25.2M | ||
| Q2 24 | $40.4M | $21.8M | ||
| Q1 24 | $39.1M | $18.8M |
| Q4 25 | $-26.2M | — | ||
| Q3 25 | $13.8M | $-33.3M | ||
| Q2 25 | $-29.7M | $-49.9M | ||
| Q1 25 | $-4.9M | $-43.8M | ||
| Q4 24 | $20.3M | — | ||
| Q3 24 | $-7.4M | $-23.7M | ||
| Q2 24 | $25.8M | $-33.4M | ||
| Q1 24 | $-3.1M | $-32.3M |
| Q4 25 | — | 91.3% | ||
| Q3 25 | — | 88.1% | ||
| Q2 25 | — | 85.3% | ||
| Q1 25 | — | 88.5% | ||
| Q4 24 | — | 89.9% | ||
| Q3 24 | — | 90.3% | ||
| Q2 24 | — | 89.8% | ||
| Q1 24 | — | 90.8% |
| Q4 25 | -105.1% | -50.5% | ||
| Q3 25 | 50.4% | -99.7% | ||
| Q2 25 | -101.3% | -171.2% | ||
| Q1 25 | -18.3% | -182.3% | ||
| Q4 24 | 55.8% | -112.6% | ||
| Q3 24 | -19.6% | -69.6% | ||
| Q2 24 | 63.3% | -118.3% | ||
| Q1 24 | -8.7% | -137.1% |
| Q4 25 | -101.7% | — | ||
| Q3 25 | 54.4% | -121.3% | ||
| Q2 25 | -98.5% | -206.2% | ||
| Q1 25 | -15.5% | -216.5% | ||
| Q4 24 | 57.7% | — | ||
| Q3 24 | -20.0% | -93.9% | ||
| Q2 24 | 63.9% | -152.9% | ||
| Q1 24 | -7.9% | -171.9% |
| Q4 25 | $-0.49 | — | ||
| Q3 25 | $0.12 | — | ||
| Q2 25 | $-0.53 | — | ||
| Q1 25 | $-0.15 | — | ||
| Q4 24 | $0.22 | — | ||
| Q3 24 | $-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 | $84.6M | $160.1M |
| Total DebtLower is stronger | — | $125.0M |
| Stockholders' EquityBook value | $1.2B | $-105.5M |
| Total Assets | $6.5B | $200.5M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $84.6M | $160.1M | ||
| Q3 25 | $204.1M | $153.8M | ||
| Q2 25 | $107.7M | $176.0M | ||
| Q1 25 | $106.4M | $216.1M | ||
| Q4 24 | $104.9M | $282.7M | ||
| Q3 24 | $108.8M | $278.9M | ||
| Q2 24 | $107.2M | $272.3M | ||
| Q1 24 | $106.5M | $183.2M |
| Q4 25 | — | $125.0M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $1.2B | $-105.5M | ||
| Q3 25 | $1.2B | $-115.4M | ||
| Q2 25 | $1.2B | $-93.4M | ||
| Q1 25 | $1.3B | $-46.5M | ||
| Q4 24 | $1.3B | $-8.8M | ||
| Q3 24 | $1.4B | $25.5M | ||
| Q2 24 | $1.4B | $30.3M | ||
| Q1 24 | $1.4B | $-40.1M |
| Q4 25 | $6.5B | $200.5M | ||
| Q3 25 | $6.5B | $185.0M | ||
| Q2 25 | $6.8B | $208.7M | ||
| Q1 25 | $6.6B | $247.6M | ||
| Q4 24 | $6.4B | $285.7M | ||
| Q3 24 | $6.8B | $301.9M | ||
| Q2 24 | $7.1B | $281.8M | ||
| Q1 24 | $7.3B | $200.6M |
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 | $-38.3M |
| Free Cash FlowOCF − Capex | — | $-38.3M |
| FCF MarginFCF / Revenue | — | -101.3% |
| Capex IntensityCapex / Revenue | — | 0.0% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-162.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $72.3M | $-38.3M | ||
| Q3 25 | $18.5M | $-42.3M | ||
| Q2 25 | $21.1M | $-39.8M | ||
| Q1 25 | $15.9M | $-42.0M | ||
| Q4 24 | $132.6M | $-13.6M | ||
| Q3 24 | $49.1M | $-27.7M | ||
| Q2 24 | $30.6M | $-23.7M | ||
| Q1 24 | $34.5M | $-31.7M |
| Q4 25 | — | $-38.3M | ||
| Q3 25 | — | $-42.4M | ||
| Q2 25 | — | $-40.0M | ||
| Q1 25 | — | $-42.1M | ||
| Q4 24 | — | $-13.7M | ||
| Q3 24 | — | $-27.8M | ||
| Q2 24 | — | $-23.8M | ||
| Q1 24 | — | — |
| Q4 25 | — | -101.3% | ||
| Q3 25 | — | -154.1% | ||
| Q2 25 | — | -165.0% | ||
| Q1 25 | — | -207.7% | ||
| Q4 24 | — | -55.9% | ||
| Q3 24 | — | -110.1% | ||
| Q2 24 | — | -109.1% | ||
| Q1 24 | — | — |
| Q4 25 | — | 0.0% | ||
| Q3 25 | — | 0.3% | ||
| Q2 25 | — | 0.6% | ||
| Q1 25 | — | 0.2% | ||
| Q4 24 | — | 0.5% | ||
| Q3 24 | — | 0.4% | ||
| Q2 24 | — | 0.4% | ||
| Q1 24 | — | 0.0% |
| Q4 25 | — | — | ||
| Q3 25 | 1.34× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 6.54× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 1.19× | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
KREF
Segment breakdown not available.
URGN
| Jelmyto | $23.8M | 63% |
| Other | $14.0M | 37% |
