Filing Flows › American Healthcare REIT (AHR) › Q1 2025
American Healthcare REIT (AHR) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 9, 2025
American Healthcare REIT (AHR) reported revenue of $541M for the first quarter 2025 (Q1 2025), +8% from a year earlier and -0.4% from the quarter before. Operating margin was 17.5%, net loss $6.8M (1.3% of revenue).
American Healthcare REIT, Q1 2025: revenue $541M (+8% year over year), operating margin 17.5%, net loss $6.8M, operating cash flow $60.6M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $541M | -0.4% | +8% |
| Operating profit | $94.5M | — | — |
| Net earnings | −$6.8M | — | — |
| Operating cash flow | $60.6M | +2% | — |
| Free cash flow | $39.8M | — | — |
What changed
Revenue was $540.6M in Q1 2025, up 8% year over year and roughly flat from the previous quarter. Integrated senior health campuses was the largest line at 78% of revenue. Integrated senior health campuses added $30.2M year over year (up 8%), 74% of the total change. Triple-net leased properties declined 23%.
Operating profit was $94.5M, a 17.5% margin (up 1.0 points year over year). Of the extra revenue versus a year earlier, 30% reached operating profit, above the 16% margin then. Total costs grew 7% against revenue growth of 8%. The fastest-growing cost line was General & admin (+11%). The quarter ended with a net loss of $6.8M, narrower than the previous quarter's $32.4M loss. Net interest and other expense of $100.8M was the main reason.
Operating cash flow was $60.6M. Non-cash charges added back $41.1M of depreciation and amortization and $2.6M of share-based compensation. Working capital and other items added $23.8M. Capital expenditures of $20.8M left free cash flow of $39.8M.
Questions
What was American Healthcare REIT's revenue in the first quarter 2025?
American Healthcare REIT (AHR) reported revenue of $541M for the first quarter 2025 (Q1 2025), +8% from a year earlier and -0.4% from the quarter before.
Was American Healthcare REIT profitable in the first quarter 2025?
Operating profit was $94.5M (17.5% of revenue) and net loss $6.8M.