IIPR Q3 2025 Earnings — Innovative Industrial Properties, Inc. Revenue & Financial Results | Market Cap Arena

IIPRInnovative Industrial Properties, Inc.

$2B

Q3 2025 Earnings

Real Estate REIT - Industrial

Income Statement

Revenue

$65M-15.5% YoY

Gross Profit

$57M87.7% margin

Operating Income

$29M45.5% margin

Net Income

$29M45.3% margin

EPS (Diluted)

$0.97

QoQ Revenue Growth

+2.9%

Cash Flow

Operating Cash Flow

$46M

Free Cash Flow

$46M

Stock-Based Comp.

$3M

Balance Sheet

Total Assets

$2.3B

Total Liabilities

$475M

Stockholders' Equity

$1.9B

Cash & Equivalents

$37M

Year-over-Year Comparison

Metric	Current	Year Ago	Change
Revenue	$65M	$77M	-15.5%
Gross Profit	$57M	$69M	-18.1%
Operating Income	$29M	$42M	-29.9%
Net Income	$29M	$40M	-27.1%