Veris Residential, Inc. (VRE) 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 | 70.1M | 71.31M | 73.44M | 75.93M | 67.76M | 68.08M | 68.17M | 67.48M | 67.34M | 67.02M | 66.47M | 64.21M | 62.6M | 67.18M | 63.13M | 53.81M | 46.17M | 86.99M | 82.18M | 79.69M |
| Revenue Growth % | 3.46% | 4.74% | 7.72% | 12.53% | 0.62% | 1.59% | 2.56% | 5.09% | 7.58% | -0.25% | 5.29% | 19.31% | 35.58% | -22.76% | -23.18% | -32.47% | -39.33% | 7.12% | 3.77% | 7.4% |
| Property Operating Expenses | 7.76M | 69.06M | 71.73M | 74.13M | 69.9M | 71.25M | 66.94M | 68.92M | 69.49M | 71.72M | 71.24M | 68.34M | 68.52M | 77.83M | 73.88M | 67.86M | 58.77M | 88.19M | 93.68M | 94.31M |
| Net Operating Income (NOI) | 62.35M | 2.25M | 1.71M | 1.8M | -2.15M | -3.17M | 1.24M | -1.45M | -2.15M | -4.7M | -4.76M | -4.14M | -5.93M | -10.65M | -10.75M | -14.04M | -12.6M | -1.21M | -11.49M | -14.63M |
| NOI Margin % | 88.94% | 3.16% | 2.33% | 2.37% | -3.17% | -4.66% | 1.82% | -2.15% | -3.2% | -7.01% | -7.17% | -6.44% | -9.47% | -15.85% | -17.03% | -26.1% | -27.28% | -1.39% | -13.99% | -18.35% |
| Operating Expenses | 10.55M | -12.58M | -11.01M | -11.3M | -10.88M | -10.98M | -12.2M | -10.45M | -8.51M | -10.67M | -4.08M | -8.94M | -10.48M | -9.28M | -9.54M | -8.14M | 613K | -5.16M | -13.99M | -7.69M |
| G&A Expenses | 10.55M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EBITDA | 23.29M | 36.3M | 33.79M | 35.57M | 29.98M | 28.99M | 34.6M | 29.32M | 26.48M | 27.2M | 20.71M | 26.64M | 26.34M | 22.25M | 21.15M | 15.12M | 5.63M | 28.77M | 31.45M | 21.56M |
| EBITDA Margin % | 33.22% | 50.9% | 46.01% | 46.85% | 44.25% | 42.59% | 50.75% | 43.45% | 39.32% | 40.58% | 31.15% | 41.48% | 42.08% | 33.11% | 33.5% | 28.09% | 12.19% | 33.07% | 38.26% | 27.05% |
| Depreciation & Amortization | 21.23M | 21.47M | 21.07M | 22.47M | 21.25M | 21.18M | 21.16M | 20.32M | 20.12M | 21.23M | 21.39M | 21.83M | 21.79M | 23.62M | 22.36M | 21.02M | 18.84M | 24.81M | 28.95M | 28.5M |
| D&A / Revenue % | 30.28% | 30.1% | 28.69% | 29.6% | 31.37% | 31.11% | 31.04% | 30.11% | 29.87% | 31.67% | 32.18% | 34% | 34.81% | 35.16% | 35.41% | 39.05% | 40.8% | 28.53% | 35.23% | 35.76% |
| Operating Income | 2.06M | 14.83M | 12.72M | 13.1M | 8.73M | 7.81M | 13.44M | 9M | 6.36M | 5.97M | -681K | 4.8M | 4.55M | -1.37M | -1.21M | -5.9M | -13.21M | 3.95M | 2.5M | -6.94M |
| Operating Margin % | 2.94% | 20.8% | 17.32% | 17.25% | 12.88% | 11.47% | 19.72% | 13.34% | 9.44% | 8.91% | -1.02% | 7.48% | 7.27% | -2.04% | -1.92% | -10.96% | -28.61% | 4.55% | 3.04% | -8.71% |
| Interest Expense | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K |
| Interest Coverage | 0.12x | 0.96x | 4.47x | 1.49x | 0.39x | 0.36x | 0.52x | 1.12x | 0.66x | 0.31x | 0.02x | 0.29x | 0.13x | -0.08x | -0.20x | 3.26x | -1.19x | -0.50x | -0.61x | -3.82x |
| Non-Operating Income | -19K | -3.16M | -86.63M | -23.53M | -265K | -652K | 2.24M | -15.23M | -7.87M | -908K | -1.72M | -5.51M | 1.79M | 578K | 2.56M | -53.92M | 637K | 11.93M | 14.74M | 56.22M |
| Pretax Income | -15.53M | -661K | 77.58M | 11.96M | -13.82M | -14.9M | -11.07M | 1.49M | -6.21M | -16.14M | -60.44M | -25.45M | -18.83M | -23.62M | -22.59M | 33.28M | -25.45M | -23.8M | -27.45M | -79.71M |
| Pretax Margin % | -22.15% | -0.93% | 105.64% | 15.76% | -20.4% | -21.89% | -16.24% | 2.21% | -9.22% | -24.08% | -90.93% | -39.65% | -30.08% | -35.15% | -35.78% | 61.85% | -55.13% | -27.36% | -33.4% | -100.03% |
| Income Tax | 69K | 61K | 35K | 93K | 42K | 2K | 39K | 176K | 59K | 199K | 293K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Effective Tax Rate % | -0.44% | -9.23% | 0.05% | 0.78% | -0.3% | -0.01% | -0.35% | 11.8% | -0.95% | -1.23% | -0.48% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Net Income | -15.6M | -203K | 75.24M | 10.9M | -10.7M | -12.37M | -9.76M | 3.04M | -3.9M | -4.14M | -55.12M | -27.85M | -24.49M | 31.58M | -99.94M | 22.85M | -12.03M | -28.66M | -29.88M | -73.63M |
| Net Margin % | -22.25% | -0.28% | 102.45% | 14.36% | -15.79% | -18.17% | -14.31% | 4.51% | -5.8% | -6.17% | -82.91% | -43.38% | -39.12% | 47.01% | -158.29% | 42.46% | -26.07% | -32.95% | -36.35% | -92.4% |
| Net Income Growth % | -45.81% | 98.36% | 871.27% | 258.21% | -174.12% | -198.96% | 82.3% | 110.93% | 84.06% | -113.1% | 44.85% | -221.89% | -103.5% | 210.2% | -234.51% | 131.03% | -223.74% | -144% | 32.67% | -102.92% |
| Funds From Operations (FFO) | 5.63M | 21.26M | 96.31M | 33.38M | 10.55M | 8.81M | 11.4M | 23.36M | 16.21M | 17.09M | -33.73M | -6.02M | -2.7M | 55.2M | -77.58M | 43.86M | 6.8M | -3.85M | -926K | -45.13M |
| FFO Margin % | 8.03% | 29.82% | 131.14% | 43.96% | 15.58% | 12.94% | 16.73% | 34.62% | 24.08% | 25.5% | -50.73% | -9.38% | -4.31% | 82.17% | -122.88% | 81.51% | 14.74% | -4.42% | -1.13% | -56.64% |
| FFO Growth % | -46.69% | 141.32% | 744.53% | 42.87% | -34.91% | -48.44% | 133.81% | 488.04% | 700.3% | -69.04% | 56.53% | -113.72% | -139.7% | 1535.31% | -8277.97% | 197.19% | -82.05% | -104.08% | 92.65% | -410.24% |
| FFO per Share | 0.06 | 0.21 | 0.94 | 0.33 | 0.10 | 0.09 | 0.11 | 0.23 | 0.16 | 0.19 | -0.33 | -0.06 | -0.03 | 0.55 | -0.77 | 0.44 | 0.07 | -0.04 | -0.01 | -0.45 |
| FFO Payout Ratio % | 151.83% | 0% | 8.54% | 24.77% | 78.51% | 81.33% | 53.92% | 23.11% | 32.93% | 29.76% | 0% | 0% | 0% | 0.01% | 0% | 0.05% | 0.51% | -0.16% | -0.11% | -1.01% |
| EPS (Diluted) | -0.15 | -0.00 | 0.80 | 0.12 | -0.11 | -0.13 | -0.10 | 0.03 | -0.04 | -0.05 | -0.54 | -0.27 | -0.27 | 0.19 | -1.29 | 0.20 | -0.14 | -0.29 | -0.28 | -0.81 |
| EPS Growth % | -36.36% | 98.31% | 938.57% | 282.17% | -184.24% | -137.23% | 82.33% | 111.63% | 85.67% | -128.84% | 58.14% | -235% | -92.86% | 165.52% | -360.71% | 124.69% | -333.33% | -143.94% | 33.33% | -131.43% |
| EPS (Basic) | -0.15 | -0.00 | 0.80 | 0.12 | -0.11 | -0.14 | -0.10 | 0.03 | -0.04 | -0.05 | -0.60 | -0.30 | -0.27 | 0.21 | -1.29 | 0.20 | -0.14 | -0.32 | -0.31 | -0.89 |
| Diluted Shares Outstanding | 102.14M | 102.08M | 102.49M | 102.26M | 101.69M | 92.93M | 101.59M | 101.95M | 100.97M | 92.24M | 100.92M | 100.85M | 91.23M | 100.42M | 100.38M | 100.35M | 99.93M | 99.96M | 99.97M | 99.87M |