Filing Flows › Alexandria Real Estate Equities (ARE) › Q3 2025
Alexandria Real Estate Equities (ARE) Q3 2025 earnings results (third quarter 2025)
10-Q filed Oct 27, 2025
Alexandria Real Estate Equities (ARE) reported revenue of $752M for the third quarter 2025 (Q3 2025), -5% from a year earlier and -1% from the quarter before. Operating margin was -31.3%, net loss $198M (26.3% of revenue).
Alexandria Real Estate Equities, Q3 2025: revenue $752M (-5% year over year), operating margin -31.3%, net loss $198M, operating cash flow $433M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $752M | -1% | -5% |
| Operating profit | −$235M | — | — |
| Net earnings | −$198M | — | — |
| Operating cash flow | $433M | -6% | -9% |
What changed
Revenue was $751.9M in Q3 2025, down 5% year over year and down 1% from the previous quarter. Income from rentals was the largest line at 98% of revenue. Income from rentals lost $39.9M year over year (down 5%), 101% of the total change.
Operating costs exceeded revenue by $235.5M, an operating margin of -31.3%. Total costs grew 59% against a revenue fall of 5%. The fastest-growing cost line was Other operating costs (+66%). The quarter ended with a net loss of $197.8M, wider than the previous quarter's $62.2M loss.
Operating cash flow was $433.5M (down 9% year over year). Non-cash charges added back $340.2M of depreciation and amortization and $10.3M of share-based compensation. Working capital and other items added $280.8M. Capital expenditures of $457.6M exceeded it, leaving free cash flow of −$24.1M.
Questions
What was Alexandria Real Estate Equities' revenue in the third quarter 2025?
Alexandria Real Estate Equities (ARE) reported revenue of $752M for the third quarter 2025 (Q3 2025), -5% from a year earlier and -1% from the quarter before.
Was Alexandria Real Estate Equities profitable in the third quarter 2025?
Operating loss was $235M (-31.3% of revenue) and net loss $198M.