Filing Flows › National Healthcare Properties (NHP) › Q3 2025
National Healthcare Properties (NHP) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 5, 2025
National Healthcare Properties (NHP) reported revenue of $86.0M for the third quarter 2025 (Q3 2025), -3% from a year earlier and +0.8% from the quarter before. Operating margin was 2.8%, net loss $12.5M (14.6% of revenue).
National Healthcare Properties, Q3 2025: revenue $86.0M (-3% year over year), operating margin 2.8%, net loss $12.5M, operating cash flow $10.2M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $86.0M | +0.8% | -3% |
| Operating profit | $2.4M | — | — |
| Net earnings | −$12.5M | — | — |
| Operating cash flow | $10.2M | +26% | — |
| Free cash flow | $5.6M | +312% | — |
What changed
Revenue was $86.0M in Q3 2025, down 3% year over year and up 1% from the previous quarter. Seniors Housing Communities was the largest line at 66% of revenue. OMF Segment lost $5.3M year over year (down 15%), 181% of the total change.
Gross margin was 37.4%, up 0.8 points from a year earlier. Operating profit was $2.4M, a 2.8% margin (up 26.3 points year over year). Operating expenses fell 44% while revenue fell 3%. The quarter ended with a net loss of $12.5M, narrower than the previous quarter's $20.8M loss. Net interest and other expense of $14.8M was the main reason.
Operating cash flow was $10.2M. Non-cash charges added back $18.0M of depreciation and amortization and $1.3M of share-based compensation. Working capital and other items added $3.3M. Capital expenditures of $4.6M left free cash flow of $5.6M.
Questions
What was National Healthcare Properties' revenue in the third quarter 2025?
National Healthcare Properties (NHP) reported revenue of $86.0M for the third quarter 2025 (Q3 2025), -3% from a year earlier and +0.8% from the quarter before.
Was National Healthcare Properties profitable in the third quarter 2025?
Operating profit was $2.4M (2.8% of revenue) and net loss $12.5M.