Q3 2026 Revenue up 78% year over year to $268M · 2¢ of every $1 of revenue lost · operating margin -4.8%
Janus Living made $268M in Q3 2026 (+78% Y/Y): Room and rents $217M, Ancillary and other services $29.8M, Non-refundable entrance fee amortization $21.4M. Operating margin -4.8%, net loss $5.6M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 3, 2026.
Revenue$268M
Year over year+78%
Operating margin-4.8%
Net earnings−$5.6M
Operating cash flow$112M
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 $268.3M in Q3 2026, up 78% year over year and up 24% from the previous quarter. Room and rents was the largest line at 81% of revenue. Room and rents added $99.6M year over year (up 85%), 85% of the total change.
Operating costs exceeded revenue by $13.0M, an operating margin of -4.8%. Total costs grew 90% against revenue growth of 78%. The quarter ended with a net loss of $5.6M, after a profit of $14.9M the previous quarter. Minority interests bore $1.3M of it: to shareholders the quarter was a loss of $4.3M. Non-operating items added $8.3M, -175% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $111.8M (up 371% year over year). Non-cash charges added back $78.7M of depreciation and amortization and $360K of share-based compensation. Working capital and other items added $38.4M. Capital expenditures of $36.9M left free cash flow of $75.0M.
Quarterly history
Quarter
Form
Filed
Revenue
Y/Y
Op. margin
Net earnings
Op. cash flow
Q3 2026
10-Q
Nov 3, 2026
$268M
+78%
-4.8%
−$5.6M
$112M
Q2 2026
10-Q
Aug 5, 2026
$216M
+45%
-3.3%
$14.9M
$79.6M
Q1 2026
10-Q
May 6, 2026
$200M
+34%
-8.9%
$27.9M
$33.3M
Charts
Latest (Q3 2026): Y/Y +78%, Q/Q +24%.From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.Latest (Q3 2026): Net income −$5.6M, Operating cash flow $112M.Real Estate Investment Trusts; dot size is quarterly revenue; dashed lines are the industry's medians.
Interactive views
The same charts as the app — open one to draw it.
💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
Janus Living, Inc. is a pure-play senior housing real estate investment trust (REIT) that owns high-quality communities across the United States that support residents with thoughtfully designed, highly amenitized environments.
In its own words, from its 8-K, filed Aug 4, 2026.
Janus Living against its Real Estate Investment Trusts peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +78% against the peers' median +14%. Operating margin: -4.8% against the peers' median 15.9%.