Lightstone Value Plus REIT II earnings and revenue breakdown
Latest: Q2 2026 · 10-Q filed Aug 14, 2026
Q2 2026 Revenue up 4% year over year to $13.9M · 1¢ of every $1 of revenue kept as net profit · operating margin 12.0%
Lightstone Value Plus REIT II made $13.9M in Q2 2026 (+4% Y/Y): Room $13.0M, Food and Beverage $937K. Operating margin 12.0%, net earnings $165K. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 14, 2026.
Revenue$13.9M
Year over year+4%
Operating margin12.0%
Net earnings$165K
Operating cash flow$1.5M
Drawing the Sankey…
Open the interactive Sankey →click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $13.9M in Q2 2026, up 5% year over year and up 26% from the previous quarter. Room was the largest line at 93% of revenue. Room added $580K year over year (up 5%), 97% of the total change.
Operating profit was $1.7M, a 12.0% margin (up 2.0 points year over year). Of the extra revenue versus Q2 2025, 56% reached operating profit, above the 10% margin then. Total costs grew 2% against revenue growth of 5%. Net earnings were $165K. The effective tax rate was 0.0%.
Operating cash flow was $1.5M (up 125% year over year), 718% of net income including minority interests. Non-cash charges added back $1.2M of depreciation and amortization.
Quarterly history
Quarter
Form
Filed
Revenue
Y/Y
Op. margin
Net earnings
Op. cash flow
Q2 2026
10-Q
Aug 14, 2026
$13.9M
+4%
12.0%
$165K
$1.5M
Q1 2026
10-Q
May 14, 2026
$11.1M
+3%
-50.9%
−$7.3M
−$1.5M
Q4 2025
10-K
Mar 30, 2026
$11.5M
-5%
-3.6%
−$1.9M
$502K
Q3 2025
10-Q
Nov 14, 2025
$12.1M
-0.3%
8.8%
$133K
−$653K
Q2 2025
10-Q
Aug 14, 2025
$13.3M
-4%
10.0%
−$565K
$667K
Q1 2025
10-Q
May 14, 2025
$10.7M
+0.8%
-13.4%
−$3.7M
−$1.2M
Q4 2024
10-K
Mar 26, 2025
$12.1M
+3%
3.0%
−$1.4M
$862K
Charts
Latest (Q2 2026): Y/Y +4%, Q/Q +26%.From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.Latest (Q2 2026): Net income $209K, Operating cash flow $1.5M.-8.2% since FY2020: buybacks shrank the count.Real Estate Investment Trusts; dot size is quarterly revenue; dashed lines are the industry's medians.
Lightstone Value Plus REIT II, Inc. (“Lightstone REIT II”), is a Maryland corporation formed on April 28, 2008, which elected to qualify as a real estate investment trust (“REIT”) for United States (“U.S.”) federal income tax purposes beginning with the taxable year ending December 31, 2009. Lightstone REIT II is structured as an umbrella partnership REIT (“UPREIT”), and substantially all of its current and future business is and will be conducted through Lightstone Value Plus REIT II LP (the “Operating Partnership”), a Delaware limited partnership formed on April 30, 2008. As of December 31, 2025, Lightstone REIT II held a 99% general partnership interest in our Operating Partnership’s common units.
In its own words, from its 10-K, filed Mar 30, 2026.
Lightstone Value Plus REIT II against its Real Estate Investment Trusts peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +4% against the peers' median +11%. Operating margin: 12.0% against the peers' median 15.9%.