Innovative Industrial Properties financials
$54.51−1.27%
Close Sep 29, 2026 · split-adjustedRevenue
Net income
Income statement & cash flow
| Quarter | Q2 '26 Jun 30 | Q1 '26 Mar 31 | Q4 '25 Dec 31 | Q3 '25 Sep 30 | Q2 '25 Jun 30 | Q1 '25 Mar 31 | Q4 '24 Dec 31 | Q3 '24 Sep 30 | Q2 '24 Jun 30 | Q1 '24 Mar 31 | Q4 '23 Dec 31 | Q3 '23 Sep 30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $63.3M | $69.0M | $66.7M | $64.7M | $62.9M | $71.7M | $76.7M | $76.5M | $79.8M | $75.5M | $79.2M | $77.8M |
| Gross profit | $56.1M | $61.4M | $58.7M | $56.7M | $56.0M | $64.3M | $69.1M | $69.2M | $72.9M | $68.7M | $72.0M | $71.5M |
| Gross margin | 88.6% | 89.0% | 88.0% | 87.7% | 89.1% | 89.7% | 90.1% | 90.5% | 91.4% | 91.1% | 90.9% | 91.9% |
| Operating income | $29.6M | $32.5M | $32.2M | $29.4M | $28.9M | $34.0M | $42.0M | $42.0M | $42.3M | $42.0M | $44.0M | $43.8M |
| Net income | $39.5M | $29.2M | $30.0M | $27.5M | $24.4M | $29.5M | $38.9M | $39.1M | $41.1M | $39.1M | $41.3M | $41.3M |
| Net margin | 62.4% | 42.3% | 45.0% | 42.6% | 38.8% | 41.2% | 50.7% | 51.1% | 51.5% | 51.8% | 52.2% | 53.0% |
| Diluted EPS | $1.36 | $1.02 | $1.06 | $0.97 | $0.86 | $1.03 | $1.36 | $1.37 | $1.44 | $1.36 | $1.46 | $1.45 |
| EBITDA | $48.4M | $51.1M | $50.7M | $48.1M | $47.4M | $55.9M | $60.2M | $59.9M | $60.0M | $59.0M | $44.0M | $60.3M |
| Operating cash flow | $44.9M | $56.0M | $49.9M | $45.6M | $48.4M | $54.2M | $57.8M | $64.9M | $64.2M | $71.6M | -$84.0M | $63.1M |
| Free cash flow | $44.3M | $53.1M | $47.5M | $41.2M | $40.9M | $45.2M | $40.4M | $56.2M | $43.7M | $55.1M | -$213.5M | -$66.4M |
| Diluted shares | 30.0M | 28.5M | 28.3M | 28.3M | 28.3M | 28.6M | 28.5M | 28.6M | 28.6M | 28.5M | 28.3M | 28.3M |
Balance sheet
| Period end | Jun 30 | Mar 31 | Dec 31 | Sep 30 | Jun 30 | Mar 31 |
|---|---|---|---|---|---|---|
| Cash & equivalents | $204.7M | $89.1M | $47.6M | $36.7M | $99.7M | $128.0M |
| Short-term investments | $0.00 | $0.00 | $0.00 | $5.3M | $5.3M | $5.3M |
| Total debt | $609.8M | $366.8M | $396.1M | $344.5M | $295.5M | $351.9M |
| Total assets | $2.58B | $2.39B | $2.37B | $2.34B | $2.31B | $2.35B |
| Total liabilities | $730.0M | $499.4M | $522.9M | $474.6M | $424.6M | $430.4M |
| Shareholders' equity | $1.85B | $1.89B | $1.85B | $1.86B | $1.88B | $1.92B |
From SEC filings via Massive. Fiscal periods follow the company's own calendar; free cash flow is operating cash flow minus capital expenditure.
Sources: Massive / Polygon daily aggregates (split-adjusted) · SEC filings via Massive · FINRA settlements via Massive · Financial Modeling Prep. Figures are dated where shown; research is informational, not investment advice. Methodology