VRE Q1 2023 Earnings — Veris Residential, Inc. Revenue & Financial Results | Market Cap Arena

VREVeris Residential, Inc.

$2B

Q1 2023 Earnings

Real Estate REIT - Residential

Income Statement

Revenue

$67M-32.5% YoY

Gross Profit

$39M58.5% margin

Operating Income

$7M10.6% margin

Net Income

-$24M-36.5% margin

EPS (Diluted)

$-0.27

QoQ Revenue Growth

+1.1%

Cash Flow

Operating Cash Flow

$12M

Free Cash Flow

$9M

Stock-Based Comp.

$4M

Balance Sheet

Total Assets

$3.8B

Total Liabilities

$1.9B

Stockholders' Equity

$1.2B

Cash & Equivalents

$37M

Year-over-Year Comparison

Metric	Current	Year Ago	Change
Revenue	$67M	$99M	-32.5%
Gross Profit	$39M	$62M	-36.4%
Operating Income	$7M	$15M	-54.0%
Net Income	-$24M	-$14M	-75.2%

Revenue Segments

Operating Leases

$60M89%

Parking

$4M7%

Real Estate, Other

$2M3%

Real Estate Services

$911,0001%