Innovative Industrial Properties, Inc. (IIPR) quarterly income statement — complete revenue, gross profit & net income history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Revenue | 69M | 66.66M | 64.69M | 62.89M | 71.72M | 76.74M | 76.53M | 79.79M | 75.45M | 79.16M | 77.83M | 76.46M | 76.07M | 70.46M | 70.88M | 70.51M | 64.5M | 58.94M | 53.86M | 48.87M |
| Revenue Growth % | -3.8% | -13.14% | -15.47% | -21.18% | -4.95% | -3.05% | -1.67% | 4.36% | -0.81% | 12.34% | 9.79% | 8.43% | 17.93% | 19.54% | 31.62% | 44.29% | 50.41% | 58.91% | 56.89% | 100.72% |
| Property Operating Expenses | 44.74M | 45.06M | 7.95M | 6.87M | 7.38M | 7.61M | 7.29M | 6.86M | 6.71M | 7.19M | 6.32M | 5.76M | 5.62M | 3.29M | 2.82M | 2.43M | 1.98M | 1.83M | 1.36M | 482K |
| Net Operating Income (NOI) | 24.25M | 21.6M | 56.73M | 56.02M | 64.34M | 69.14M | 69.23M | 72.93M | 68.75M | 71.96M | 71.51M | 70.7M | 70.44M | 67.17M | 68.06M | 68.08M | 62.52M | 57.12M | 52.49M | 48.38M |
| NOI Margin % | 35.15% | 32.41% | 87.71% | 89.08% | 89.71% | 90.09% | 90.47% | 91.4% | 91.11% | 90.91% | 91.88% | 92.47% | 92.61% | 95.33% | 96.02% | 96.56% | 96.93% | 96.9% | 97.47% | 99.01% |
| Operating Expenses | -8.23M | -10.57M | 27.32M | 27.13M | 30.38M | 27.13M | 27.27M | 30.58M | 26.71M | 28.01M | 27.66M | 27.27M | 27.09M | 22.93M | 26.7M | 23.94M | 22.64M | 18.66M | 16.2M | 15.45M |
| G&A Expenses | 0 | 7.97M | 8.68M | 8.63M | 8.46M | 8.89M | 9.33M | 9.66M | 9.56M | 10.91M | 10.98M | 10.57M | 10.37M | 10.23M | 10.8M | 8.71M | 8.78M | 6.45M | 5.31M | 5.6M |
| EBITDA | 51.07M | 50.71M | 48.05M | 47.4M | 52.35M | 60.25M | 59.9M | 59.82M | 59.18M | 61.05M | 60.53M | 60.13M | 60.07M | 60.54M | 57.26M | 59.38M | 53.74M | 50.67M | 47.18M | 42.78M |
| EBITDA Margin % | 74.02% | 76.08% | 74.29% | 75.37% | 73% | 78.51% | 78.28% | 74.97% | 78.44% | 77.13% | 77.77% | 78.64% | 78.97% | 85.92% | 80.78% | 84.21% | 83.32% | 85.96% | 87.61% | 87.55% |
| Depreciation & Amortization | 18.58M | 18.54M | 18.64M | 18.5M | 18.39M | 18.24M | 17.94M | 17.47M | 17.15M | 17.1M | 16.68M | 16.7M | 16.71M | 16.3M | 15.9M | 15.23M | 13.87M | 12.21M | 10.89M | 9.84M |
| D&A / Revenue % | 26.93% | 27.81% | 28.82% | 29.42% | 25.64% | 23.77% | 23.45% | 21.9% | 22.73% | 21.6% | 21.43% | 21.85% | 21.97% | 23.14% | 22.43% | 21.6% | 21.5% | 20.71% | 20.22% | 20.14% |
| Operating Income | 32.49M | 32.17M | 29.41M | 28.9M | 33.96M | 42.01M | 41.96M | 42.35M | 42.03M | 43.96M | 43.85M | 43.42M | 43.36M | 44.24M | 41.36M | 44.14M | 39.88M | 38.46M | 36.29M | 32.94M |
| Operating Margin % | 47.09% | 48.26% | 45.47% | 45.95% | 47.36% | 54.74% | 54.83% | 53.07% | 55.71% | 55.53% | 56.34% | 56.8% | 57% | 62.79% | 58.34% | 62.61% | 61.82% | 65.25% | 67.39% | 67.41% |
| Interest Expense | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K |
| Interest Coverage | 6.10x | 5.73x | 7.48x | 6.86x | 7.91x | 13.82x | 10.08x | 10.72x | 9.98x | 16.01x | 10.61x | 10.23x | 10.09x | 9.89x | 9.34x | 9.93x | 8.35x | 5.33x | 5.77x | 8.95x |
| Non-Operating Income | -6.75M | -6.39M | -4.42M | -1.57M | -1.61M | -1.13M | -2.69M | -3.97M | -1.78M | -450K | -2.08M | -2.32M | -2.25M | -435K | -773K | -574K | 61K | 5.33M | -110K | -91K |
| Pretax Income | 32.81M | 31.84M | 29.3M | 26.02M | 31.08M | 40.02M | 40.22M | 41.99M | 39.43M | 41.63M | 41.59M | 41.27M | 41.09M | 41.51M | 37.62M | 40.21M | 35.05M | 28.63M | 30.09M | 29.34M |
| Pretax Margin % | 47.55% | 47.77% | 45.3% | 41.38% | 43.33% | 52.14% | 52.55% | 52.63% | 52.25% | 52.6% | 53.44% | 53.98% | 54.02% | 58.91% | 53.07% | 57.03% | 54.34% | 48.57% | 55.88% | 60.04% |
| Income Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Effective Tax Rate % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Net Income | 32.81M | 31.84M | 29.3M | 26.02M | 31.08M | 40.02M | 40.22M | 41.99M | 39.43M | 41.63M | 41.59M | 41.27M | 41.09M | 41.51M | 37.62M | 40.21M | 35.05M | 28.63M | 30.09M | 29.34M |
| Net Margin % | 47.55% | 47.77% | 45.3% | 41.38% | 43.33% | 52.15% | 52.55% | 52.63% | 52.25% | 52.6% | 53.44% | 53.98% | 54.02% | 58.91% | 53.07% | 57.03% | 54.34% | 48.57% | 55.88% | 60.04% |
| Net Income Growth % | 5.57% | -20.45% | -27.13% | -38.03% | -21.18% | -3.86% | -3.32% | 1.75% | -4.05% | 0.31% | 10.58% | 2.62% | 17.24% | 44.97% | 25% | 37.07% | 35.19% | 34.21% | 56.62% | 120.43% |
| Funds From Operations (FFO) | 51.39M | 50.38M | 47.94M | 44.52M | 49.47M | 58.27M | 58.16M | 59.47M | 56.58M | 58.73M | 58.27M | 57.97M | 57.81M | 57.81M | 53.52M | 55.45M | 48.92M | 40.84M | 40.98M | 39.18M |
| FFO Margin % | 74.49% | 75.58% | 74.12% | 70.8% | 68.97% | 75.92% | 76% | 74.53% | 74.98% | 74.2% | 74.87% | 75.82% | 75.99% | 82.04% | 75.5% | 78.64% | 75.84% | 69.28% | 76.1% | 80.18% |
| FFO Growth % | 3.89% | -13.53% | -17.56% | -25.13% | -12.57% | -0.79% | -0.19% | 2.58% | -2.12% | 1.6% | 8.89% | 4.56% | 18.17% | 41.56% | 30.57% | 41.52% | 40.71% | 35.85% | 52.58% | 95.35% |
| FFO per Share | 1.81 | 1.78 | 1.69 | 1.57 | 1.73 | 2.04 | 2.03 | 2.08 | 1.99 | 2.08 | 2.06 | 2.05 | 2.05 | 2.05 | 1.90 | 1.98 | 1.86 | 1.55 | 1.56 | 1.50 |
| FFO Payout Ratio % | 0% | 106.74% | 112.18% | 122.32% | 109.67% | 94.08% | 93.28% | 87.37% | 91.01% | 86.4% | 87.08% | 87.5% | 87.36% | 87.36% | 91.75% | 82.66% | 78.72% | 88.12% | 81.94% | 81.67% |
| EPS (Diluted) | 1.02 | 1.07 | 0.97 | 0.86 | 1.03 | 1.36 | 1.37 | 1.44 | 1.36 | 1.46 | 1.45 | 1.44 | 1.43 | 1.46 | 1.32 | 1.41 | 1.31 | 1.14 | 1.20 | 1.17 |
| EPS Growth % | -0.97% | -21.32% | -29.2% | -40.28% | -24.26% | -6.85% | -5.52% | 0% | -4.9% | 0% | 9.85% | 2.13% | 9.16% | 28.07% | 10% | 20.51% | 24.76% | 25.27% | 39.53% | 60.27% |
| EPS (Basic) | 1.08 | 1.07 | 1.01 | 0.87 | 1.05 | 1.38 | 1.38 | 1.45 | 1.37 | 1.48 | 1.46 | 1.45 | 1.45 | 1.47 | 1.33 | 1.42 | 1.35 | 1.18 | 1.24 | 1.21 |
| Diluted Shares Outstanding | 28.47M | 28.3M | 28.3M | 28.32M | 28.59M | 28.55M | 28.58M | 28.57M | 28.46M | 28.28M | 28.27M | 28.26M | 28.22M | 28.16M | 28.16M | 28.04M | 26.34M | 26.26M | 26.26M | 26.17M |