Filing Flows › National Healthcare Properties (NHP) › Q1 2026
National Healthcare Properties (NHP) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 14, 2026
National Healthcare Properties (NHP) reported revenue of $86.3M for the first quarter 2026 (Q1 2026), -0.2% from a year earlier and +2% from the quarter before. Operating margin was 11.7%, net loss $4.3M (5.0% of revenue).
National Healthcare Properties, Q1 2026: revenue $86.3M (-0.2% year over year), operating margin 11.7%, net loss $4.3M, operating cash flow $9.0M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $86.3M | +2% | -0.2% |
| Operating profit | $10.1M | — | -22% |
| Net earnings | −$4.3M | — | — |
| Operating cash flow | $9.0M | -9% | — |
| Free cash flow | $3.7M | — | — |
What changed
Revenue was $86.3M in Q1 2026, roughly flat year over year and up 2% from the previous quarter. Seniors Housing Communities was the largest line at 67% of revenue. OMF lost $2.0M year over year (down 6%), 1254% of the total change.
Gross margin was 38.7%, up 5.6 points from Q1 2025. Operating profit was $10.1M, a 11.7% margin (down 3.4 points year over year). Operating expenses grew 49% against flat revenue. The fastest-growing cost line was Other operating costs (+67%). The quarter ended with a net loss of $4.3M, narrower than the previous quarter's $22.8M loss. Net interest and other expense of $14.3M was the main reason.
Operating cash flow was $9.0M. Non-cash charges added back $17.7M of depreciation and amortization and $612K of share-based compensation. Working capital and other items used $5.1M. Capital expenditures of $5.3M left free cash flow of $3.7M.
Questions
What was National Healthcare Properties' revenue in the first quarter 2026?
National Healthcare Properties (NHP) reported revenue of $86.3M for the first quarter 2026 (Q1 2026), -0.2% from a year earlier and +2% from the quarter before.
Was National Healthcare Properties profitable in the first quarter 2026?
Operating profit was $10.1M (11.7% of revenue) and net loss $4.3M.