Vinebrook Homes Trust earnings and revenue breakdown
Latest: Q2 2026 · 10-Q filed Aug 14, 2026
Q2 2026 Revenue down 14% year over year to $81.3M · 51¢ of every $1 of revenue lost · operating margin -60.4%
Vinebrook Homes Trust made $81.3M in Q2 2026 (-14% Y/Y): Vinebrook Homes OPLP $72.0M, Nexpoint Homes $9.4M. Operating margin -60.4%, net loss $41.2M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 14, 2026.
Revenue$81.3M
Year over year-14%
Operating margin-60.4%
Net earnings−$41.2M
Operating cash flow−$84K
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 $81.3M in Q2 2026, down 14% year over year and down 7% from the previous quarter. Vinebrook Homes OPLP was the largest line at 88% of revenue. Vinebrook Homes OPLP lost $11.5M year over year (down 14%), 89% of the total change.
Operating costs exceeded revenue by $49.1M, an operating margin of -60.4%. Total costs fell 22% while revenue fell 14%. The quarter ended with a net loss of $41.2M, narrower than the previous quarter's $43.4M loss.
Operating cash flow was −$84K. Non-cash charges added back $27.8M of depreciation and $3.9M of share-based compensation. Working capital and other items added $9.4M. Capital expenditures of $21.8M exceeded it, leaving free cash flow of −$21.9M.
Quarterly history
Quarter
Form
Filed
Revenue
Y/Y
Op. margin
Net earnings
Op. cash flow
Q2 2026
10-Q
Aug 14, 2026
$81.3M
-14%
-60.4%
−$41.2M
−$84K
Q1 2026
10-Q
May 8, 2026
$87.4M
-6%
-46.9%
−$43.4M
−$9.9M
Q4 2025
10-K
Mar 11, 2026
$90.3M
+0.2%
-49.8%
−$43.8M
−$1.7M
Q3 2025
10-Q
Nov 7, 2025
$94.0M
+4%
-43.7%
−$40.4M
$14.7M
Q2 2025
10-Q
Aug 14, 2025
$94.2M
+3%
-77.8%
−$70.0M
$2.2M
Q1 2025
10-Q
May 13, 2025
$92.8M
+3%
-41.2%
−$39.2M
−$2.4M
Q4 2024
10-K
Mar 28, 2025
$90.1M
+3%
-41.3%
−$55.6M
$4.1M
Charts
Latest (Q2 2026): Y/Y -14%, Q/Q -7%.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 −$41.2M, Operating cash flow −$84K.+79.3% since FY2020: more shares outstanding (issuance, stock pay); earlier years scaled for the 2-for-1 split before FY2021.Real Estate Investment Trusts; dot size is quarterly revenue; dashed lines are the industry's medians.
VineBrook Homes Trust, Inc. was formed on July 16, 2018 as a Maryland corporation, and elected to be taxed as a REIT beginning with its taxable year ended December 31, 2018. Our mission is to provide our residents with affordable, safe, clean and functional homes with a high level of service through institutional-quality management. Our investment objectives are to acquire properties with cash flow growth potential, renovate and maintain our homes to deliver a high-quality resident experience, while providing quarterly cash distributions and seeking long-term capital appreciation for our stockholders. Our investment focus has historically been on the affordable and workforce segments of the housing industry, but we are not precluded from investing in homes in the higher-cost segments of the housing industry.
In its own words, from its 10-K, filed Mar 28, 2025.
Vinebrook Homes Trust against its Real Estate Investment Trusts peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -14% against the peers' median +11%. Operating margin: -60.4% against the peers' median 15.9%.