---
schema_version: "secwatch.filing_event.v1"
accession: "0001717547-25-000045"
form_type: "8-K"
ticker: "BRSP"
cik: "0001717547"
company_name: "BrightSpire Capital, Inc."
filed_at: "2025-04-29T23:59:59+00:00"
generated_at: "2026-05-23T03:57:49.387400+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# BrightSpire Capital Q1 2025 GAAP EPS $0.04, book value $7.92 per share

## Summary
- GAAP net income $5.3M ($0.04/share); Distributable Earnings $11.4M ($0.09/share); Adjusted Distributable Earnings $20.1M ($0.16/share).
- GAAP book value $7.92/share; undepreciated book value $8.75/share as of March 31, 2025.
- CEO notes positive net deployment YTD, reduced leverage, and stable watchlist and CECL reserves quarter-over-quarter.
- Slight book value decrease attributed to annual equity grants; no guidance update provided.

## SEC filing metadata
- accession: 0001717547-25-000045
- form_type: 8-K
- ticker: BRSP
- cik: 0001717547
- company_name: BrightSpire Capital, Inc.
- filed_at: 2025-04-29T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1717547/000171754725000045/0001717547-25-000045-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1717547/000171754725000045/brsp-20250429.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001717547-25-000045
- JSON: https://secwatch.observer/filing/0001717547-25-000045.json
- Plain text: https://secwatch.observer/filing/0001717547-25-000045.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.