Filing Flows › AH Realty Trust (AHRT) › Q4 2025
AH Realty Trust (AHRT) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 26, 2026
AH Realty Trust (AHRT) reported revenue of $75.6M for the fourth quarter 2025 (Q4 2025), +12% from a year earlier and +4% from the quarter before. Operating margin was 31.0%, net earnings $2.4M (3.1% of revenue).
AH Realty Trust, Q4 2025: revenue $75.6M (+12% year over year), operating margin 31.0%, net earnings $2.4M, operating cash flow $26.7M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $75.6M | +4% | +12% |
| Operating profit | $23.5M | +11% | -38% |
| Net earnings | $2.4M | 30× | -90% |
| Operating cash flow | $26.7M | +2% | +29% |
What changed
Revenue was $75.6M in Q4 2025, up 12% year over year and up 4% from the previous quarter.
Operating profit was $23.5M, a 31.0% margin (down 24.8 points year over year). Operating profit fell $14.2M even though revenue rose $8.3M versus a year earlier, so costs grew faster than sales. Total costs grew 75% against revenue growth of 12%. The fastest-growing cost line was Other operating costs (+91%). Net earnings were $2.4M, down 90% year over year ($2.3M including minority interests, which bore $108K of losses). The effective tax rate was -15.0%.
Operating cash flow was $26.7M (up 29% year over year), 1177% of net income including minority interests. Non-cash charges added back $18.4M of depreciation and $945K of share-based compensation. Working capital and other items added $5.1M.
Questions
What was AH Realty Trust's revenue in the fourth quarter 2025?
AH Realty Trust (AHRT) reported revenue of $75.6M for the fourth quarter 2025 (Q4 2025), +12% from a year earlier and +4% from the quarter before.
Was AH Realty Trust profitable in the fourth quarter 2025?
Operating profit was $23.5M (31.0% of revenue) and net earnings $2.4M.
Source: AH Realty Trust 10-K on SEC EDGAR.