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Innovative Industrial Properties, Inc. IIPR Q2 2025 earnings

Reported August 6, 2025 · After market close

Revenue$62.9MMiss by $2.1MDiluted EPS$1.71Beat by $0.10
Revenue estimate$65.0M
EPS estimate$1.61

Next report

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

Financials

Q2 2025

Income statement

See full
Revenue$62.9M-21.2%
Operating income$28.9M-31.8%
Net income$26.0M-38.0%
EPS (diluted)$0.86-40.3%

Balance sheet

See full
Cash & equivalents$99.7M-17.5%
Total debt$813.0K-35.9%
Total equity$1.9B-3.4%
Total assets$2.3B-3.3%

Cash flow

See full
Operating cash flow$48.4M-24.5%

Valuation & ratios

Valuation

as of 06/30/25
See full
Market cap$1.65B-46.3%
Enterprise value$1.55B-47.5%
P/E12×-6.7×
P/S5.7×-4.1×

Profitability

See full
Operating margin51%-4.1pp
Net margin47.7%-5.0pp

Returns & leverage

See full
Return on equity7.2%-1.3pp
Debt / equity0×0.0×

Versus estimates

Revenue

Q1 2026$69.0MBeat by $3.3MQ4 2025$66.7MBeat by $886.4KQ3 2025$64.7MMiss by $1.5M
Q2 2025$62.9MMiss by $2.1M
Q1 2025$71.7MBeat by $933.1KQ4 2024$76.7MBeat by $530.2K

Diluted EPS

Q1 2026$1.88Beat by $0.81Q4 2025$1.88Beat by $0.83Q3 2025$1.71In line
Q2 2025$1.71Beat by $0.10
Q1 2025$1.94Miss by $0.05Q4 2024$2.22In line

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Questions, answered.

When did Innovative Industrial Properties, Inc. report Q2 2025 earnings?
Innovative Industrial Properties, Inc. (IIPR) reported Q2 2025 earnings on August 6, 2025 after market close.
What were Innovative Industrial Properties, Inc.'s Q2 2025 revenue and EPS?
Innovative Industrial Properties, Inc. reported revenue of $62.9M and diluted EPS of $1.71 for Q2 2025.
Did Innovative Industrial Properties, Inc. beat estimates in Q2 2025?
Revenue missed the consensus estimate of $65.0M by $2.1M. EPS beat the consensus estimate of $1.61 by $0.10.
How did Innovative Industrial Properties, Inc.'s Q2 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue declined 21.2% from $79.8M a year earlier and diluted EPS declined 25.3% from $2.29.
Where can I find Innovative Industrial Properties, Inc.'s Q2 2025 SEC filings?
You can read the 10-Q periodic report (0001628280-25-038972) directly on SEC EDGAR. The filing index links above go to sec.gov.