IIPR Q4 2025 Earnings — Innovative Industrial Properties, Inc. Revenue & Financial Results | Market Cap Arena

IIPRInnovative Industrial Properties, Inc.

$2B

Q4 2025 Earnings

Real Estate REIT - Industrial

Income Statement

Revenue

$67M-13.1% YoY

Gross Profit

$22M32.4% margin

Operating Income

$32M48.3% margin

Net Income

$32M47.8% margin

EPS (Diluted)

$1.07

QoQ Revenue Growth

+3.0%

Cash Flow

Operating Cash Flow

$50M

Free Cash Flow

$50M

Stock-Based Comp.

$3M

Balance Sheet

Total Assets

$2.4B

Total Liabilities

$523M

Stockholders' Equity

$1.8B

Cash & Equivalents

$48M

Year-over-Year Comparison

Metric	Current	Year Ago	Change
Revenue	$67M	$77M	-13.1%
Gross Profit	$22M	$69M	-68.8%
Operating Income	$32M	$42M	-23.4%
Net Income	$32M	$40M	-20.4%