Filing Flows › Diversified Healthcare Trust (DHC) › Q2 2025
Diversified Healthcare Trust (DHC) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 4, 2025
Diversified Healthcare Trust (DHC) reported revenue of $383M for the second quarter 2025 (Q2 2025), +3% from a year earlier and -1% from the quarter before. Operating margin was -10.0%, net loss $91.6M (23.9% of revenue).
Diversified Healthcare Trust, Q2 2025: revenue $383M (+3% year over year), operating margin -10.0%, net loss $91.6M, operating cash flow $53.0M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $383M | -1% | +3% |
| Operating profit | −$38.4M | — | — |
| Net earnings | −$91.6M | — | — |
| Operating cash flow | $53.0M | — | +20% |
| Free cash flow | $18.8M | — | +472% |
What changed
Revenue was $382.7M in Q2 2025, up 3% year over year and down 1% from the previous quarter. Residents fees and services was the largest line at 86% of revenue. Residents fees and services added $19.0M year over year (up 6%), 168% of the total change. Rental income declined 12%.
Operating costs exceeded revenue by $38.4M, an operating margin of -10.0%. Total costs grew 9% against revenue growth of 3%. The fastest-growing cost line was General & admin (+78%). The quarter ended with a net loss of $91.6M, wider than the previous quarter's $9.0M loss. Net interest and other expense of $52.4M was the main reason.
Operating cash flow was $53.0M (up 20% year over year). Non-cash charges added back $66.3M of depreciation. Working capital and other items added $78.4M. Capital expenditures of $34.2M left free cash flow of $18.8M.
Questions
What was Diversified Healthcare Trust's revenue in the second quarter 2025?
Diversified Healthcare Trust (DHC) reported revenue of $383M for the second quarter 2025 (Q2 2025), +3% from a year earlier and -1% from the quarter before.
Was Diversified Healthcare Trust profitable in the second quarter 2025?
Operating loss was $38.4M (-10.0% of revenue) and net loss $91.6M.