The financials
Innovative Industrial Properties, Inc. by the numbers
Innovative Industrial Properties, Inc. (IIPR) reported revenue of $69M in Q1 2026 (quarter ended March 31, 2026), down 3.8% from the same quarter a year earlier. That came with net income of $33M (48% of revenue). For the full year FY2025, revenue was $266M (−14% year on year) and net income $118M.
| Income statement | Q1 2026 | Q1 2025 | Change |
|---|---|---|---|
| Revenue | $69M | $72M | −3.8% |
| Operating income | $33M | $34M | −3.1% |
| Net income | $33M | $31M | +5.6% |
| Diluted EPS | $1.02 | $1.03 | −1.0% |