Apollo Commercial Real Estate Finance annual operating expenses
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Apollo Commercial Real Estate Finance Operating Expenses Growth & History (ARI)
Apollo Commercial Real Estate Finance's operating expenses was $158.0M for fiscal 2025.
View full Apollo Commercial Real Estate Finance company overviewApollo Commercial Real Estate Finance annual operating expenses history
| Fiscal year | Period ended | Operating expenses | Change | Growth |
|---|---|---|---|---|
| 2025 | 2025-12-31 | $158.0M | −$1.2M | −0.73% |
| 2024 | 2024-12-31 | $159.1M | $10.6M | +7.15% |
| 2023 | 2023-12-31 | $148.5M | $27.4M | +22.58% |
| 2022 | 2022-12-31 | $121.2M | $31.6M | +35.26% |
| 2021 | 2021-12-31 | $89.6M | $23.0M | +34.50% |
| 2020 | 2020-12-31 | $66.6M | $1.8M | +2.73% |
| 2019 | 2019-12-31 | $64.8M | $7.9M | +13.95% |
| 2018 | 2018-12-31 | $56.9M | $4.5M | +8.62% |
| 2017 | 2017-12-31 | $52.4M | $4.0M | +8.28% |
| 2016 | 2016-12-31 | $48.4M | $22.3M | +85.25% |
| 2015 | 2015-12-31 | $26.1M | $8.0M | +44.17% |
| 2014 | 2014-12-31 | $18.1M | $536,000 | +3.05% |
| 2013 | 2013-12-31 | $17.6M | $2.9M | +19.70% |
| 2012 | 2012-12-31 | $14.7M | $4.3M | +41.45% |
| 2011 | 2011-12-31 | $10.4M | $1.5M | +16.69% |
| 2010 | 2010-12-31 | $8.9M | — | — |
Apollo Commercial Real Estate Finance quarterly operating expenses
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| Fiscal quarter | Period ended | Operating expenses | Change | YoY change |
|---|---|---|---|---|
| Q2 2026 | 2026-06-30 | $37.1M | −$1.5M | −3.85% |
| Q1 2026 | 2026-03-31 | $36.3M | −$2.2M | −5.65% |
| Q4 2025 | 2025-12-31 | $43.4M | $4.9M | +12.85% |
| Q3 2025 | 2025-09-30 | $37.5M | −$1.0M | −2.71% |
| Q2 2025 | 2025-06-30 | $38.6M | −$2.2M | −5.29% |
| Q1 2025 | 2025-03-31 | $38.4M | −$2.9M | −7.02% |
| Q4 2024 | 2024-12-31 | $38.5M | $688,000 | +1.82% |
| Q3 2024 | 2024-09-30 | $38.6M | $1.4M | +3.81% |
| Q2 2024 | 2024-06-30 | $40.7M | $1.7M | +4.33% |
| Q1 2024 | 2024-03-31 | $41.3M | $6.8M | +19.75% |
| Q4 2023 | 2023-12-31 | $37.8M | $3.7M | +10.71% |
| Q3 2023 | 2023-09-30 | $37.2M | $6.9M | +22.98% |
| Q2 2023 | 2023-06-30 | $39.0M | $9.1M | +30.53% |
| Q1 2023 | 2023-03-31 | $34.5M | $7.6M | +28.36% |
| Q4 2022 | 2022-12-31 | $34.1M | $3.7M | +11.98% |
| Q3 2022 | 2022-09-30 | $30.2M | $6.1M | +25.08% |
| Q2 2022 | 2022-06-30 | $29.9M | $11.3M | +60.56% |
| Q1 2022 | 2022-03-31 | $26.9M | $10.6M | +64.97% |
| Q4 2021 | 2021-12-31 | $30.5M | $13.6M | +80.80% |
| Q3 2021 | 2021-09-30 | $24.2M | $7.6M | +45.94% |
| Q2 2021 | 2021-06-30 | $18.6M | $2.2M | +13.66% |
| Q1 2021 | 2021-03-31 | $16.3M | −$495,000 | −2.95% |
| Q4 2020 | 2020-12-31 | $16.9M | $906,000 | +5.68% |
| Q3 2020 | 2020-09-30 | $16.6M | $278,000 | +1.71% |
| Q2 2020 | 2020-06-30 | $16.4M | −$451,000 | −2.68% |
| Q1 2020 | 2020-03-31 | $16.8M | $1.0M | +6.57% |
| Q4 2019 | 2019-12-31 | $16.0M | $2.2M | +15.82% |
| Q3 2019 | 2019-09-30 | $16.3M | $915,000 | +5.96% |
| Q2 2019 | 2019-06-30 | $16.8M | $2.2M | +14.78% |
| Q1 2019 | 2019-03-31 | $15.8M | $2.7M | +20.43% |
| Q4 2018 | 2018-12-31 | $13.8M | $474,000 | +3.56% |
| Q3 2018 | 2018-09-30 | $15.4M | $2.4M | +18.70% |
| Q2 2018 | 2018-06-30 | $14.7M | $1.7M | +13.31% |
| Q1 2018 | 2018-03-31 | $13.1M | −$100,000 | −0.76% |
| Q4 2017 | 2017-12-31 | $13.3M | $2.8M | +26.23% |
| Q3 2017 | 2017-09-30 | $12.9M | −$1.3M | −9.24% |
| Q2 2017 | 2017-06-30 | $12.9M | $2.8M | +27.33% |
| Q1 2017 | 2017-03-31 | $13.2M | −$224,000 | −1.67% |
| Q4 2016 | 2016-12-31 | $10.5M | $2.3M | +27.43% |
| Q3 2016 | 2016-09-30 | $14.3M | $8.1M | +130.07% |
| Q2 2016 | 2016-06-30 | $10.2M | $4.2M | +70.94% |
| Q1 2016 | 2016-03-31 | $13.4M | $7.7M | +135.50% |
| Q4 2015 | 2015-12-31 | $8.3M | $3.2M | +64.41% |
| Q3 2015 | 2015-09-30 | $6.2M | $1.6M | +33.91% |
| Q2 2015 | 2015-06-30 | $5.9M | $1.5M | +33.77% |
| Q1 2015 | 2015-03-31 | $5.7M | $1.7M | +42.15% |
| Q4 2014 | 2014-12-31 | $5.0M | −$33,000 | −0.65% |
| Q3 2014 | 2014-09-30 | $4.6M | $209,000 | +4.73% |
| Q2 2014 | 2014-06-30 | $4.4M | $408,000 | +10.11% |
| Q1 2014 | 2014-03-31 | $4.0M | −$48,000 | −1.18% |
| Q4 2013 | 2013-12-31 | $5.1M | $1.7M | +50.97% |
| Q3 2013 | 2013-09-30 | $4.4M | $470,000 | +11.90% |
| Q2 2013 | 2013-06-30 | $4.0M | −$17,000 | −0.42% |
| Q1 2013 | 2013-03-31 | $4.1M | $730,000 | +21.95% |
| Q4 2012 | 2012-12-31 | $3.4M | $495,000 | +17.31% |
| Q3 2012 | 2012-09-30 | $3.9M | $1.4M | +55.56% |
| Q2 2012 | 2012-06-30 | $4.1M | $1.5M | +61.32% |
| Q1 2012 | 2012-03-31 | $3.3M | $857,000 | +34.72% |
| Q4 2011 | 2011-12-31 | $2.9M | — | — |
| Q3 2011 | 2011-09-30 | $2.5M | $417,000 | +19.66% |
| Q2 2011 | 2011-06-30 | $2.5M | $390,000 | +18.37% |
| Q1 2011 | 2011-03-31 | $2.5M | — | — |
| Q3 2010 | 2010-09-30 | $2.1M | — | — |
| Q2 2010 | 2010-06-30 | $2.1M | — | — |
| Q4 2009 | 2009-12-31 | $2.7M | — | — |
Apollo Commercial Real Estate Finance operating expenses trends
Over the last five fiscal years, Apollo Commercial Real Estate Finance's operating expenses increased from $66.6M to $158.0M, a change of $91.4M. The latest reported quarter, Q2 2026, shows $37.1M.
About the metric
What operating expenses mean
Operating expenses are the recurring costs of running a company’s business beyond the direct costs used to calculate gross profit. They commonly include selling, general and administrative expenses, research and development, and other operating costs.
Calculation and source
SEC-reported and calculated operating expenses
TickerStat uses operating expenses reported in company SEC filings when available. When a separate total is unavailable, it calculates operating expenses as aligned gross profit minus operating income for the same fiscal period. Fiscal periods can differ from calendar years, so exact period-end dates are included.
Review Apollo Commercial Real Estate Finance source filings ↗