Filing Flows › Innovative Industrial Properties (IIPR) › Q2 2026
Innovative Industrial Properties (IIPR) Q2 2026 earnings results (second quarter 2026)
10-Q filed Aug 4, 2026
Innovative Industrial Properties (IIPR) reported revenue of $63.3M for the second quarter 2026 (Q2 2026), +0.7% from a year earlier and -8% from the quarter before. Operating margin was 65.5%, net earnings $43.9M (69.3% of revenue).
Innovative Industrial Properties, Q2 2026: revenue $63.3M (+0.7% year over year), operating margin 65.5%, net earnings $43.9M, operating cash flow $44.9M. The chart follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $63.3M | -8% | +0.7% |
| Operating profit | $41.4M | +26% | +43% |
| Net earnings | $43.9M | +34% | +69% |
| Operating cash flow | $44.9M | -20% | -7% |
What changed
Revenue was $63.3M in Q2 2026, up 1% year over year and down 8% from the previous quarter.
Operating profit was $41.4M, a 65.5% margin (up 19.5 points year over year). Of the extra revenue versus Q2 2025, 2960% reached operating profit, above the 46% margin then. Total costs fell 36% while revenue rose 1%. Net earnings were $43.9M, up 69% year over year. The effective tax rate was 0.0%.
Operating cash flow was $44.9M (down 7% year over year), 102% of net earnings. Non-cash charges added back $18.8M of depreciation and amortization and $2.8M of share-based compensation. Working capital and other items used $20.6M.
Questions
What was Innovative Industrial Properties' revenue in the second quarter 2026?
Innovative Industrial Properties (IIPR) reported revenue of $63.3M for the second quarter 2026 (Q2 2026), +0.7% from a year earlier and -8% from the quarter before.
Was Innovative Industrial Properties profitable in the second quarter 2026?
Operating profit was $41.4M (65.5% of revenue) and net earnings $43.9M.