Cottonwood Communities earnings and revenue breakdown
Latest: Q2 2026 · 10-Q filed Aug 14, 2026
Q2 2026 Revenue up 22% year over year to $47.7M · 41¢ of every $1 of revenue lost · operating margin -6.3%
Cottonwood Communities made $47.7M in Q2 2026 (+22% Y/Y). Operating margin -6.3%, net loss $19.5M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 14, 2026.
Revenue$47.7M
Year over year+22%
Operating margin-6.3%
Net earnings−$19.5M
Operating cash flow$2.4M
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 $47.7M in Q2 2026, up 22% year over year and roughly flat from the previous quarter.
Operating costs exceeded revenue by $3.0M, an operating margin of -6.3%. Total costs grew 32% against revenue growth of 22%. The fastest-growing cost line was Other operating costs (+36%). The quarter ended with a net loss of $19.5M, wider than the previous quarter's $12.2M loss. Minority interests bore $12.3M of it: to shareholders the quarter was a loss of $7.2M. Net interest and other expense of $16.7M was the main reason.
Operating cash flow was $2.4M. Non-cash charges added back $23.7M of depreciation and amortization and $673K of share-based compensation. Working capital and other items used $2.5M. Capital expenditures of $14.2M exceeded it, leaving free cash flow of −$11.8M.
Quarterly history
Quarter
Form
Filed
Revenue
Y/Y
Op. margin
Net earnings
Op. cash flow
Q2 2026
10-Q
Aug 14, 2026
$47.7M
+22%
-6.3%
−$19.5M
$2.4M
Q1 2026
10-Q
May 12, 2026
$47.5M
+17%
-15.1%
−$12.2M
−$1.2M
Q4 2025
10-K
Mar 30, 2026
$38.1M
-6%
-2.7%
−$21.7M
−$14.5M
Q3 2025
10-Q
Nov 13, 2025
$36.2M
-11%
5.0%
−$14.7M
$2.0M
Q2 2025
10-Q
Aug 14, 2025
$39.0M
-3%
1.2%
$18.2M
−$2.6M
Q1 2025
10-Q
May 15, 2025
$40.7M
+8%
2.3%
−$13.0M
−$5.5M
Q4 2024
10-K
Mar 31, 2025
$40.3M
+3%
0.3%
−$19.1M
−$3.6M
Charts
Latest (Q2 2026): Y/Y +22%, Q/Q +0%.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 −$19.5M, Operating cash flow $2.4M.+183.4% since FY2020: more shares outstanding (issuance, stock pay).Real Estate Investment Trusts; dot size is quarterly revenue; dashed lines are the industry's medians.
(“REIT”). We qualified as a REIT for U.S. federal income tax purposes beginning with the taxable year ended December 31, 2019. We generally will not be subject to U.S. federal income taxes on our taxable income to the extent we annually distribute
In its own words, from its 10-K, filed Mar 30, 2026.
Cottonwood Communities against its Real Estate Investment Trusts peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +22% against the peers' median +14%. Operating margin: -6.3% against the peers' median 15.9%.