# Innovative Industrial Properties Inc: financial statements, quarterly

IIPR · NYSE · CIK 1677576 · [Real estate](/sectors/real-estate.md) · fiscal year ends Dec 31

Pages: [Overview](/companies/iipr.md) · [Financials](/companies/iipr/financials.md) · [Filings](/companies/iipr/filings.md) · [Insiders](/companies/iipr/insiders.md)

Standardized line items from XBRL company facts. Each value links to its filing; d marks a value derived from year-to-date figures. Other view: [annual](/companies/iipr/financials.md?period=annual).

## Income statement

| Line item | Unit | Q3 FY2023 (2023-09-30) | Q4 FY2023 (2023-12-31) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | Q3 FY2024 (2024-09-30) | Q4 FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [77.8](/filings/0001558370-24-014891.md) | [79.2 d](/filings/0001677576-26-000001.md) | [75.5](/filings/0001628280-25-023920.md) | [79.8](/filings/0001628280-25-038972.md) | [76.5](/filings/0001677576-25-000005.md) | [76.7 d](/filings/0001677576-26-000001.md) | [71.7](/filings/0001677576-26-000002.md) | [62.9](/filings/0001677576-26-000004.md) | [64.7](/filings/0001677576-25-000005.md) | [66.7 d](/filings/0001677576-26-000001.md) | [69.0](/filings/0001677576-26-000002.md) | [63.3](/filings/0001677576-26-000004.md) |
| Operating income | $m | [43.8](/filings/0001558370-24-014891.md) | [44.0 d](/filings/0001677576-26-000001.md) | [42.0](/filings/0001628280-25-023920.md) | [42.3](/filings/0001628280-25-038972.md) | [42.0](/filings/0001677576-25-000005.md) | [42.0 d](/filings/0001677576-26-000001.md) | [34.0](/filings/0001677576-26-000002.md) | [28.9](/filings/0001677576-26-000004.md) | [29.4](/filings/0001677576-25-000005.md) | [31.8 d](/filings/0001677576-26-000001.md) | [32.9](/filings/0001677576-26-000002.md) | [41.4](/filings/0001677576-26-000004.md) |
| Interest expense | $m | [4.3](/filings/0001558370-23-017449.md) | [4.1 d](/filings/0001558370-24-001866.md) | [4.4](/filings/0001558370-24-007612.md) | [4.3](/filings/0001628280-25-038972.md) | [4.4](/filings/0001677576-25-000005.md) | [4.5 d](/filings/0001677576-26-000001.md) | [4.5](/filings/0001677576-26-000002.md) | [4.4](/filings/0001677576-26-000004.md) | [4.5](/filings/0001677576-25-000005.md) | [6.7 d](/filings/0001677576-26-000001.md) | [6.4](/filings/0001677576-26-000002.md) | [8.3](/filings/0001677576-26-000004.md) |
| Net income | $m | [41.6](/filings/0001558370-24-014891.md) | [41.6 d](/filings/0001677576-26-000001.md) | [39.4](/filings/0001628280-25-023920.md) | [42.0](/filings/0001628280-25-038972.md) | [40.2](/filings/0001677576-25-000005.md) | [40.0 d](/filings/0001677576-26-000001.md) | [31.1](/filings/0001677576-26-000002.md) | [26.0](/filings/0001677576-26-000004.md) | [29.3](/filings/0001677576-25-000005.md) | [31.8 d](/filings/0001677576-26-000001.md) | [32.8](/filings/0001677576-26-000002.md) | [43.9](/filings/0001677576-26-000004.md) |
| Diluted EPS | $ per share | [1.45](/filings/0001558370-24-014891.md) | not reported | [1.36](/filings/0001628280-25-023920.md) | [1.44](/filings/0001628280-25-038972.md) | [1.37](/filings/0001677576-25-000005.md) | not reported | [1.03](/filings/0001677576-26-000002.md) | [0.86](/filings/0001677576-26-000004.md) | [0.97](/filings/0001677576-25-000005.md) | not reported | [1.02](/filings/0001677576-26-000002.md) | [1.36](/filings/0001677576-26-000004.md) |
| Basic EPS | $ per share | [1.46](/filings/0001558370-24-014891.md) | not reported | [1.37](/filings/0001628280-25-023920.md) | [1.45](/filings/0001628280-25-038972.md) | [1.38](/filings/0001677576-25-000005.md) | not reported | [1.05](/filings/0001677576-26-000002.md) | [0.87](/filings/0001677576-26-000004.md) | [0.99](/filings/0001677576-25-000005.md) | not reported | [1.04](/filings/0001677576-26-000002.md) | [1.39](/filings/0001677576-26-000004.md) |

- Revenue: us-gaap:Revenues
- Operating income: us-gaap:OperatingIncomeLoss
- Interest expense: us-gaap:InterestExpense, us-gaap:InterestExpenseNonoperating
- Net income: us-gaap:NetIncomeLoss
- Diluted EPS: us-gaap:EarningsPerShareDiluted
- Basic EPS: us-gaap:EarningsPerShareBasic

## Balance sheet

| Line item | Unit | Q3 FY2023 (2023-09-30) | FY2023 (2023-12-31) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | Q3 FY2024 (2024-09-30) | FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Cash and equivalents | $m | [117](/filings/0001558370-23-017449.md) | [140](/filings/0001558370-25-001322.md) | [154](/filings/0001558370-24-007612.md) | [121](/filings/0001558370-24-011114.md) | [147](/filings/0001558370-24-014891.md) | [146](/filings/0001677576-26-000001.md) | [128](/filings/0001628280-25-023920.md) | [99.7](/filings/0001628280-25-038972.md) | [36.7](/filings/0001677576-25-000005.md) | [47.6](/filings/0001677576-26-000004.md) | [89.1](/filings/0001677576-26-000002.md) | [205](/filings/0001677576-26-000004.md) |
| Total assets | $m | [2,389](/filings/0001558370-23-017449.md) | [2,391](/filings/0001558370-25-001322.md) | [2,400](/filings/0001558370-24-007612.md) | [2,384](/filings/0001558370-24-011114.md) | [2,395](/filings/0001558370-24-014891.md) | [2,378](/filings/0001677576-26-000001.md) | [2,353](/filings/0001628280-25-023920.md) | [2,305](/filings/0001628280-25-038972.md) | [2,338](/filings/0001677576-25-000005.md) | [2,371](/filings/0001677576-26-000004.md) | [2,394](/filings/0001677576-26-000002.md) | [2,582](/filings/0001677576-26-000004.md) |
| Total liabilities | $m | [441](/filings/0001558370-23-017449.md) | [438](/filings/0001558370-25-001322.md) | [444](/filings/0001558370-24-007612.md) | [437](/filings/0001558370-24-011114.md) | [449](/filings/0001558370-24-014891.md) | [442](/filings/0001677576-26-000001.md) | [430](/filings/0001628280-25-023920.md) | [425](/filings/0001628280-25-038972.md) | [475](/filings/0001677576-25-000005.md) | [523](/filings/0001677576-26-000004.md) | [499](/filings/0001677576-26-000002.md) | [730](/filings/0001677576-26-000004.md) |
| Long-term debt | $m | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | [394](/filings/0001677576-26-000001.md) | not reported | not reported |
| Shareholders' equity | $m | [1,949](/filings/0001558370-24-014891.md) | [1,953](/filings/0001677576-26-000001.md) | [1,955](/filings/0001628280-25-038972.md) | [1,947](/filings/0001677576-25-000005.md) | [1,947](/filings/0001677576-25-000005.md) | [1,936](/filings/0001677576-26-000004.md) | [1,922](/filings/0001677576-26-000004.md) | [1,880](/filings/0001677576-26-000004.md) | [1,863](/filings/0001677576-25-000005.md) | [1,848](/filings/0001677576-26-000004.md) | [1,895](/filings/0001677576-26-000004.md) | [1,852](/filings/0001677576-26-000004.md) |

- Cash and equivalents: us-gaap:CashAndCashEquivalentsAtCarryingValue
- Total assets: us-gaap:Assets
- Total liabilities: us-gaap:Liabilities
- Long-term debt: us-gaap:LongTermDebt
- Shareholders' equity: us-gaap:StockholdersEquity

## Cash flow

| Line item | Unit | Q3 FY2023 (2023-09-30) | Q4 FY2023 (2023-12-31) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | Q3 FY2024 (2024-09-30) | Q4 FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Operating cash flow | $m | [63.1 d](/filings/0001558370-24-014891.md) | [66.1 d](/filings/0001677576-26-000001.md) | [71.6](/filings/0001628280-25-023920.md) | [64.2 d](/filings/0001628280-25-038972.md) | [64.9 d](/filings/0001677576-25-000005.md) | [57.8 d](/filings/0001677576-26-000001.md) | [54.2](/filings/0001677576-26-000002.md) | [48.4 d](/filings/0001677576-26-000004.md) | [45.6 d](/filings/0001677576-25-000005.md) | [49.9 d](/filings/0001677576-26-000001.md) | [56.0](/filings/0001677576-26-000002.md) | [44.9 d](/filings/0001677576-26-000004.md) |
| Capital expenditure | $m | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |
| Dividends paid | $m | [50.7 d](/filings/0001558370-24-014891.md) | [50.7 d](/filings/0001677576-26-000001.md) | [51.5](/filings/0001628280-25-023920.md) | [52.0 d](/filings/0001628280-25-038972.md) | [54.3 d](/filings/0001677576-25-000005.md) | [54.3 d](/filings/0001677576-26-000001.md) | [54.3](/filings/0001677576-26-000002.md) | [54.5 d](/filings/0001677576-26-000004.md) | [53.8 d](/filings/0001677576-25-000005.md) | [53.8 d](/filings/0001677576-26-000001.md) | [53.8](/filings/0001677576-26-000002.md) | [54.4 d](/filings/0001677576-26-000004.md) |
| Share repurchases | $m | not reported | not reported | [0.0](/filings/0001628280-25-023920.md) | [0.0 d](/filings/0001628280-25-038972.md) | [0.0 d](/filings/0001677576-25-000005.md) | [0.0 d](/filings/0001677576-26-000001.md) | [0.3](/filings/0001677576-26-000002.md) | [19.8 d](/filings/0001677576-26-000004.md) | [0.0 d](/filings/0001677576-25-000005.md) | [0.0 d](/filings/0001677576-26-000001.md) | [0.0](/filings/0001677576-26-000002.md) | [89.0 d](/filings/0001677576-26-000004.md) |

- Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities
- Capital expenditure: not reported
- Dividends paid: us-gaap:PaymentsOfDividendsCommonStock
- Share repurchases: us-gaap:PaymentsForRepurchaseOfCommonStock

## Shares

| Line item | Unit | Q3 FY2022 (2022-09-30) | Q1 FY2023 (2023-03-31) | Q2 FY2023 (2023-06-30) | Q3 FY2023 (2023-09-30) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | Q3 FY2024 (2024-09-30) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Diluted shares (weighted) | millions of shares | [28.2](/filings/0001558370-23-017449.md) | [28.2](/filings/0001558370-24-007612.md) | [28.3](/filings/0001558370-24-011114.md) | [28.3](/filings/0001558370-24-014891.md) | [28.5](/filings/0001628280-25-023920.md) | [28.6](/filings/0001628280-25-038972.md) | [28.6](/filings/0001677576-25-000005.md) | [28.6](/filings/0001677576-26-000002.md) | [28.3](/filings/0001677576-26-000004.md) | [28.3](/filings/0001677576-25-000005.md) | [28.5](/filings/0001677576-26-000002.md) | [30.0](/filings/0001677576-26-000004.md) |

- Diluted shares (weighted): us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding

Shares outstanding: 27,571,349 at 2026-08-04, from the cover of the [10-Q filed 2026-08-04](/filings/0001677576-26-000004.md) (dei:EntityCommonStockSharesOutstanding).

Source: SEC EDGAR, XBRL company facts. Last ingested by Listed: Oct 24, 2026, 15:45 ET. No prices; not investment advice.