Filing Flows › National Healthcare Properties (NHP) › Q2 2025
National Healthcare Properties (NHP) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 5, 2025
National Healthcare Properties (NHP) reported revenue of $85.3M for the second quarter 2025 (Q2 2025), -4% from a year earlier and -1% from the quarter before. Operating margin was -6.5%, net loss $20.8M (24.4% of revenue).
National Healthcare Properties, Q2 2025: revenue $85.3M (-4% year over year), operating margin -6.5%, net loss $20.8M, operating cash flow $8.1M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $85.3M | -1% | -4% |
| Operating profit | −$5.5M | -142% | — |
| Net earnings | −$20.8M | — | — |
| Operating cash flow | $8.1M | — | +26% |
| Free cash flow | $1.4M | — | +245% |
What changed
Revenue was $85.3M in Q2 2025, down 4% year over year and down 1% from the previous quarter. Seniors Housing Communities was the largest line at 66% of revenue. OMF Segment lost $5.4M year over year (down 16%), 155% of the total change.
Gross margin was 36.5%, down 1.6 points from a year earlier. Operating costs exceeded revenue by $5.5M, an operating margin of -6.5%. Operating expenses fell 73% while revenue fell 4%. The fastest-growing cost line was General & admin (+16%). The quarter ended with a net loss of $20.8M, wider than the previous quarter's $1.5M loss. Net interest and other expense of $15.3M was the main reason.
Operating cash flow was $8.1M (up 26% year over year). Non-cash charges added back $18.5M of depreciation and amortization and $570K of share-based compensation. Working capital and other items added $9.8M. Capital expenditures of $6.7M left free cash flow of $1.4M.
Questions
What was National Healthcare Properties' revenue in the second quarter 2025?
National Healthcare Properties (NHP) reported revenue of $85.3M for the second quarter 2025 (Q2 2025), -4% from a year earlier and -1% from the quarter before.
Was National Healthcare Properties profitable in the second quarter 2025?
Operating loss was $5.5M (-6.5% of revenue) and net loss $20.8M.