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Innovative Industrial Properties, Inc. IIPR Q1 2026 earnings

Reported May 4, 2026 · After market close

Revenue$69.0MBeat by $3.3MDiluted EPS$1.88Beat by $0.81
Revenue estimate$65.7M
EPS estimate$1.07

Next report

Aug 5, 2026 (In 2 weeks)
Revenue estimate$67.5M
EPS estimate$1.02

Financials

Q1 2026

Income statement

See full
Revenue$69.0M-3.8%
Operating income$32.9M-3.1%
Net income$32.8M+5.6%
EPS (diluted)$1.02-1.0%

Balance sheet

See full
Cash & equivalents$89.1M-30.4%
Total equity$1.9B-1.4%
Total assets$2.4B+1.8%

Cash flow

See full
Operating cash flow$56.0M+3.3%

Valuation & ratios

Valuation

as of 07/15/26
See full
Market cap$1.85B+18.3%
P/E15.4×+4.0×
P/S7×+1.6×

Profitability

See full
Operating margin46.8%-5.8pp
Net margin45.6%-4.7pp

Returns & leverage

See full
Return on equity6.3%-1.6pp

Segments

By segment

See full
Cannabis Portfolio Segment:$69.0M-3.8%

Versus estimates

Revenue

Q1 2026$69.0MBeat by $3.3M
Q4 2025$66.7MBeat by $886.4KQ3 2025$64.7MMiss by $1.5MQ2 2025$62.9MMiss by $2.1MQ1 2025$71.7MBeat by $933.1KQ4 2024$76.7MBeat by $530.2K

Diluted EPS

Q1 2026$1.88Beat by $0.81
Q4 2025$1.88Beat by $0.83Q3 2025$1.71In lineQ2 2025$1.71Beat by $0.10Q1 2025$1.94Miss by $0.05Q4 2024$2.22In line

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Questions, answered.

When did Innovative Industrial Properties, Inc. report Q1 2026 earnings?
Innovative Industrial Properties, Inc. (IIPR) reported Q1 2026 earnings on May 4, 2026 after market close.
What were Innovative Industrial Properties, Inc.'s Q1 2026 revenue and EPS?
Innovative Industrial Properties, Inc. reported revenue of $69.0M and diluted EPS of $1.88 for Q1 2026.
Did Innovative Industrial Properties, Inc. beat estimates in Q1 2026?
Revenue beat the consensus estimate of $65.7M by $3.3M. EPS beat the consensus estimate of $1.07 by $0.81.
How did Innovative Industrial Properties, Inc.'s Q1 2026 results compare year-over-year?
Compared to the same quarter a year prior, revenue declined 3.8% from $71.7M a year earlier and diluted EPS declined 3.1% from $1.94.
Where can I find Innovative Industrial Properties, Inc.'s Q1 2026 SEC filings?
You can read the 8-K earnings release (0001104659-26-055008) and the 10-Q periodic report (0001677576-26-000002) directly on SEC EDGAR. The filing index links above go to sec.gov.