Innovative Industrial Properties, Inc. (IIPR) — Financial statements
Income statement, balance sheet, and cash flow for Innovative Industrial Properties, Inc. — annual and quarterly history with growth and margin analysis.
| Metric (USD Millions) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
| Revenue & Gross Profit | ||||||
| Revenue | 266↓13.8% | 309↓0.3% | 310↑12.0% | 276↑35.1% | 205 | |
| Cost of Revenue | 30↑6.0% | 28↑14.4% | 25↑136.6% | 11↑136.8% | 4 | |
| Gross Profit | 236↓15.8% | 280↓1.6% | 285↑7.1% | 266↑32.8% | 200 | |
| Operating Expenses | ||||||
| R&D Expenses | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| General & Administrative Expenses | 34↓9.9% | 37↓12.6% | 43↑11.2% | 39↑67.8% | 23 | |
| Selling & Marketing Expenses | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| SG&A Expenses | 34↓9.9% | 37↓12.6% | 43↑11.2% | 39↑67.8% | 23 | |
| Other Expenses | 78↑4.9% | 74↑10.5% | 67↑16.5% | 58↑38.1% | 42 | |
| Operating Expenses | 112↓0.0% | 112↑1.5% | 110↑14.3% | 96↑48.6% | 65 | |
| Total Costs & Expenses | 142↑1.2% | 140↑3.9% | 135↑26.4% | 107↑54.3% | 69 | |
| Operating Results | ||||||
| Operating Income | 124↓26.3% | 168↓3.6% | 175↑2.9% | 170↑25.3% | 135 | |
| Depreciation & Amortization | 74↑4.6% | 71↑5.4% | 67↑9.6% | 61↑46.7% | 42 | |
| EBITDA | 209↓16.1% | 249↓0.1% | 249↑7.0% | 233↑35.1% | 172 | |
| EBIT | 135↓24.3% | 178↓2.1% | 182↑6.0% | 171↑31.4% | 130 | |
| Interest & Other Income | ||||||
| Net Interest Income | -20↓283.2% | -5↑41.6% | -9↑40.3% | -15↑14.6% | -18 | |
| Interest Income | 0.00↓100.0% | 11↑55.3% | 7↑121.4% | 3↑704.8% | 0.40 | |
| Interest Expense | 20↑24.2% | 16↑1.0% | 16↓12.0% | 18↑1.2% | 18 | |
| Non-Operating Income | -11↓9.8% | -10↓34.8% | -7↓312.4% | -2↓134.4% | 5 | |
| Other Income / Expenses | -10↓44.8% | -7↑25.6% | -9↑40.9% | -15↑28.8% | -21 | |
| Income Before Tax | 114↓29.2% | 162↓2.4% | 166↑7.3% | 154↑35.4% | 114 | |
| Income Tax Expense | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Net Income & EPS | ||||||
| Net Income from Continuing Operations | 114↓29.2% | 162↓2.4% | 166↑7.3% | 154↑35.4% | 114 | |
| Net Income from Discontinued Operations | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Net Income | 114↓29.2% | 162↓2.4% | 166↑7.3% | 154↑35.4% | 114 | |
| Bottom-Line Net Income | 114↓27.4% | 158↓3.3% | 163↑6.7% | 153↑27.7% | 120 | |
| EPS (Basic) | 3.98↓28.7% | 5.58↓4.1% | 5.82↑4.5% | 5.57↑18.8% | 4.69 | |
| EPS (Diluted) | 3.93↓28.8% | 5.52↓4.3% | 5.77↑4.5% | 5.52↑21.3% | 4.55 | |
| Weighted Average Shares | 28↓0.8% | 28↑0.9% | 28↑2.3% | 27↑14.4% | 24 | |
| Weighted Average Diluted Shares | 28↓0.5% | 29↑1.0% | 28↑2.1% | 28↑5.3% | 26 | |
* All figures in Millions of USD, except per share data. Growth rates calculated Year-over-Year (YoY). Data source: SEC Filings.