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Did Innovative Industrial Properties Beat Earnings?
Innovative Industrial Properties (IIPR) reported Q2 '26 revenue of $63M, up 0.7% year-over-year, with reported EPS of $1.83. That topped the $1.69 analyst estimate by 8.3% — an earnings beat.
AltIndex tracks earnings alongside 25+ alternative data signals that can move ahead of the report — Innovative Industrial Properties’s job postings, web traffic, and employee business outlook. See the full IIPR stock analysis or the earnings calendar for upcoming reports.
IIPR Earnings Surprise History (EPS vs. Estimate)
| Quarter | Estimated EPS | Reported EPS | Surprise |
|---|---|---|---|
| Q2 '26 | $1.69 | $1.83 | Beat +8.3% |
| Q1 '26 | $1.07 | $1.04 | Missed -2.8% |
| Q4 '25 | $0.99 | $1.06 | Beat +7.1% |
| Q3 '25 | $0.90 | $0.97 | Beat +7.8% |
| Q2 '25 | $0.91 | $0.86 | Missed -5.5% |
| Q1 '25 | $1.17 | $1.03 | Missed -12.0% |
Innovative Industrial Properties Quarterly Financial Trends
| Metric | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 77M | 77M | 72M | 63M | 65M | 67M | 69M | 63M |
| Gross margin | 90.5% | 90.1% | 89.7% | 89.1% | 87.7% | 32.4% | 35.1% | 100.0% |
| Operating margin | 54.8% | 54.7% | 47.4% | 45.9% | 45.5% | 48.3% | 47.1% | 69.3% |
| Net income | 40M | 40M | 31M | 26M | 29M | 32M | 33M | 44M |
| Net margin | 52.6% | 52.2% | 43.3% | 41.4% | 45.3% | 47.8% | 47.6% | 69.3% |
| EPS | $1.37 | $1.36 | $1.03 | $0.86 | $0.97 | $1.06 | $1.04 | $1.83 |
Innovative Industrial Properties Earnings Trend Analysis
Over the eight quarters from Q3 '24 to Q2 '26, Innovative Industrial Properties’s quarterly revenue moved from $77M to $63M. Net margin expanded from 52.6% to 69.3%, against a 100% gross margin in the most recent quarter — a read on whether revenue growth is translating into profit. Innovative Industrial Properties has beaten Wall Street EPS estimates in 4 of its last 8 reported quarters.
When Is Innovative Industrial Properties’s Next Earnings Date?
Innovative Industrial Properties reports earnings on a quarterly schedule. Its most recent report covered Q2 '26. For the confirmed upcoming date — and every other company reporting soon — see the IIPR earnings calendar.
Frequently Asked Questions: Innovative Industrial Properties Earnings
Innovative Industrial Properties's next earnings date has not been confirmed yet. See the earnings calendar for all upcoming reports.
Innovative Industrial Properties reported Q2 '26 EPS of $1.83 on revenue of $63M (+0.7% YoY). Innovative Industrial Properties beat estimates, reporting $1.83 vs. the $1.69 estimate.
Innovative Industrial Properties reported Q2 '26 revenue of $63M, up 0.7% from the same quarter a year earlier.
Signals like job postings, web traffic, and employee sentiment reflect business activity in real time and can move before quarterly results are reported. AltIndex combines them with 25+ others in the IIPR AI Score.
