← INNOVATIVE INDUSTRIAL PROPERTIES INC
| Annual Trend | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash flows from operating activities: | |||||||||||
| Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
| Net Income (Loss) Attributable to Parent | — | ($72k) |
$7.0m
+9801.39%
|
$23.5m
+236.08%
|
$65.7m
+180.00%
|
$114.0m
+73.42%
|
$154.4m
+35.44%
|
$165.6m
+7.26%
|
$161.7m
-2.37%
|
$118.2m
-26.85%
|
|
| Net Income (Loss) Available to Common Stockholders, Basic | — | ($395k) |
$5.6m
+1526.08%
|
$22.1m
+292.74%
|
$64.4m
+191.00%
|
$112.6m
+74.96%
|
$153.0m
+35.86%
|
$164.2m
+7.32%
|
$159.9m
-2.67%
|
$114.4m
-28.41%
|
|
| Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | — | — | — | — | — | $114.0m | $154.4m | $165.6m | $161.7m | $118.2m | |
| Depreciation, Depletion and Amortization | $27k | $915k | $2.6m | $8.6m | $28.0m | $41.8m | $61.3m | $67.2m | $70.8m | $74.1m | |
| Amortization of Debt Issuance Costs | — | — | — | $780k | — | — | — | — | — | — | |
| Depreciation | $27k | $915k | $2.6m | $8.6m | $28.0m | $41.7m | $60.5m | $66.3m | $69.9m | $73.0m | |
| Amortization of Debt Issuance Costs and Discounts | — | — | — | $1.7m | $2.0m | $2.9m | $1.3m | $1.4m | $1.7m | $2.0m | |
| Amortization of Intangible Assets | — | — | — | — | — | $33k | — | — | — | — | |
| Amortization of discounts on investments | — | — | — | — | — | ($340k) | ($2.2m) | ($3.2m) | ($506k) | $0 | |
| Amortization of debt discount and issuance costs | — | $0 | $0 | $1.7m | $2.0m | $2.9m | $1.3m | $1.4m | $1.7m | $2.0m | |
| Share-based Payment Arrangement, Noncash Expense | — | $1.7m | $1.5m | $2.5m | $3.3m | $8.6m | $17.5m | $19.6m | $17.3m | $10.1m | |
| Payment, Tax Withholding, Share-based Payment Arrangement | — | $298k | $390k | $939k | $2.2m | $3.4m | $2.4m | $568k | $750k | $864k | |
| Stock-based compensation | $58k | $1.7m | $1.5m | $2.5m | $3.3m | $8.6m | $17.5m | $19.6m | $17.3m | $10.1m | |
| Impairment loss on real estate | — | — | — | — | — | — | — | $0 | $0 | $3.5m | |
| Changes in operating assets and liabilities: | |||||||||||
| Accounts payable, accrued expenses and other liabilities | — | — | — | $1.4m | $1.2m | $3.1m | $2.7m | $3.9m | $6.0m | ($854k) | |
| Increase (Decrease) in Other Operating Assets | — | — | $173k | $619k | $428k | $3.7m | $3.5m | ($352k) | ($126k) | $1.3m | |
| Other assets, net | — | ($155k) | ($173k) | ($619k) | ($428k) | ($3.7m) | ($3.5m) | $352k | $126k | ($1.3m) | |
| Reclassification from other assets to real estate held for investment | — | — | — | — | — | — | — | $0 | $3.2m | $0 | |
| Net Cash Provided by (Used in) Operating Activities | $1.7m |
$5.0m
+196.22%
|
$15.7m
+212.92%
|
$44.9m
+186.33%
|
$110.8m
+146.62%
|
$188.7m
+70.33%
|
$234.1m
+24.04%
|
$255.5m
+9.15%
|
$258.4m
+1.14%
|
$198.2m
-23.32%
|
|
| Cash flows from investing activities: | |||||||||||
| Investments in real estate | — | ($32.7m) | ($57.5m) | ($259.9m) | ($240.5m) | ($287.6m) | ($150.1m) | ($34.9m) | ($18.7m) | ($7.9m) | |
| Investments in life science financial instruments | — | — | — | — | — | — | — | $0 | $0 | ($150.3m) | |
| Funding of construction loan and other investments | — | — | — | $0 | — | ($16.1m) | ($21.7m) | ($4.0m) | ($800k) | $0 | |
| Purchases of short-term investments | — | $0 | ($185.0m) | ($255.7m) | ($1.1b) | ($569.8m) | ($388.8m) | ($111.9m) | ($45.1m) | ($5.3m) | |
| Maturities of short-term investments | — | $0 | $65.5m | $260.2m | $581.0m | $864.5m | $515.0m | $294.1m | $62.6m | $10.3m | |
| Deposits applied for acquisitions | — | — | $0 | $0 | $650k | $200k | $25k | $250k | $0 | $0 | |
| Net Cash Provided by (Used in) Investing Activities | ($30.0m) | ($38.6m) | ($199.3m) | ($340.6m) | ($1.0b) | ($384.1m) | ($396.2m) | ($6.8m) | ($56.0m) | ($174.3m) | |
| Cash flows from financing activities: | |||||||||||
| Repayments of Long-term Debt | — | — | — | — | — | — | — | — | — | $8.7m | |
| Induced Conversion of Convertible Debt Expense | — | — | — | — | — | $3.7m | $125k | — | — | — | |
| Principal payment on debt | — | — | — | — | — | — | — | $0 | ($4.4m) | ($8.7m) | |
| Payments for Repurchase of Common Stock | — | $0 | — | — | — | — | — | — | — | $20.1m | |
| Payments of Ordinary Dividends, Common Stock | — | $1 | $7 | $23 | $75 | $131 | $184 | $203 | $212 | $216 | |
| Proceeds from Issuance of Common Stock | — | — | $193.2m | $286.3m | $1.0b | — | $352.0m | $9.6m | $11.8m | $0 | |
| Issuance of common stock, net of issuance costs | $61.3m | ($276k) | $193.2m | $286.3m | $1.0b | — | $352.0m | $9.6m | $11.8m | $0 | |
| Repurchase of common stock | ($1k) | $0 | — | — | — | — | — | $0 | $0 | ($20.1m) | |
| Dividends paid to common stockholders | — | ($1) | ($7) | ($23) | ($75) | ($131) | ($184) | ($203) | ($212) | ($216) | |
| Exchange of Exchangeable Senior Notes for common stock | — | — | — | — | — | $109.0m | $26.7m | $2.0m | $0 | $0 | |
| Dividends Payable | — | $1 | $4 | $13 | $30 | $39 | $51 | $52 | $55 | $55 | |
| Dividends paid to preferred stockholders | — | $0 | ($1.3m) | ($1.4m) | ($1.4m) | ($1.4m) | ($1.4m) | ($1.4m) | ($1.6m) | ($3.2m) | |
| Accrual for common and preferred stock dividends declared | — | $1 | $4 | $13 | $30 | $39 | $51 | $52 | $55 | $55 | |
| Taxes paid related to net share settlement of equity awards | — | ($298k) | ($390k) | ($939k) | ($2.2m) | ($3.4m) | ($2.4m) | ($568k) | ($750k) | ($864k) | |
| Net Cash Provided by (Used in) Financing Activities | $61.3m |
$12.4m
-79.81%
|
$184.9m
+1392.56%
|
$400.0m
+116.37%
|
$925.0m
+131.27%
|
$155.8m
-83.16%
|
$164.2m
+5.43%
|
($195.6m)
-219.12%
|
($197.9m)
-1.16%
|
($122.5m)
+38.08%
|
|
| Net increase (decrease) in cash, cash equivalents and restricted cash | — | $21.2m | ($1.3m) | ($104.3m) | $8.7m | ($39.6m) | $2.2m | $53.1m | $4.5m | ($98.6m) | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | — | — | — | ($104.3m) | — | — | — | — | — | — | |
| Cash, cash equivalents and restricted cash, beginning of year | — | $11.8m | $13.1m | $117.3m | $126.0m | $86.4m | $88.6m | $141.7m | $146.2m | $47.6m | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | — | — | — | $117.3m | $126.0m | $86.4m | $88.6m | $141.7m | $146.2m | $47.6m | |
| Additional Supplementary Disclosures | |||||||||||
| Additional Supplementary Disclosures | |||||||||||
| Additional Supplementary Disclosures | |||||||||||
| Payments of Financing Costs | — | — | — | — | — | $6.9m | — | $561k | $567k | $0 | |
| Supplemental disclosure of cash flow information: | |||||||||||
| Interest Paid, Excluding Capitalized Interest, Operating Activities | — | $0 | $0 | $3.1m | $5.4m | $14.4m | $17.2m | $16.1m | $16.1m | $17.4m | |
| Additional Financial Items | |||||||||||
| Gains (Losses) on Sales of Investment Real Estate | — | — | — | — | — | — | $3.6m | — | ($3.4m) | ($326k) | |
| General and Administrative Expense | — | $5.5m | $6.4m | $9.8m | $14.2m | $23.0m | $38.5m | $42.8m | $37.4m | $33.7m | |
| Interest Expense Nonoperating | — | — | — | — | — | — | — | — | $17.7m | $20.2m | |
| Investment Income, Interest | — | $151k | — | — | — | — | — | — | $11.0m | — | |
| Operating Expenses | — | $6.6m | $9.4m | $19.7m | $47.2m | $69.2m | $110.3m | $134.9m | $136.7m | $141.5m | |
| Operating Lease, Expense | — | — | — | $87k | — | — | — | — | $500k | $500k | |
| Operating Lease, Lease Income | — | — | — | — | $116.9m | $204.6m | $274.4m | $307.3m | $306.9m | $265.5m | |
| Loss (gain) on exchange of Exchangeable Senior Notes | — | — | — | — | — | $3.7m | $125k | ($22k) | $0 | $0 | |
| Loss (gain) on sale of real estate | — | — | — | — | — | — | ($3.6m) | $0 | $3.4m | $326k | |
| Other non-cash adjustments | — | — | $0 | $0 | $162k | $95k | $185k | $111k | $103k | ($275k) | |
| Rent received in advance and tenant security deposits | — | $1.6m | $4.9m | $11.6m | $13.5m | $18.7m | $5.9m | $642k | ($2.2m) | ($6.9m) | |
| Proceeds from sale of real estate assets | — | — | — | — | — | — | $23.5m | $0 | $9.1m | $2.2m | |
| Funding of draws for improvements and construction | — | ($5.9m) | ($22.3m) | ($84.7m) | ($289.5m) | ($374.5m) | ($373.9m) | ($150.1m) | ($63.1m) | ($23.4m) | |
| Issuance of preferred stock, net of issuance costs | — | $14.0m | $0 | $0 | — | — | — | $0 | $9.6m | $24.1m | |
| Draws on revolving credit facilities | — | — | — | — | — | — | — | $0 | $0 | $155.0m | |
| Repayments on revolving credit facilities | — | — | — | — | — | — | — | $0 | $0 | ($52.5m) | |
| Payment of deferred financing costs | — | — | — | $0 | — | ($6.9m) | — | ($561k) | ($567k) | $0 | |
| Accrual for current-period additions to real estate | — | — | — | — | — | $46.3m | $29.4m | $8.4m | $9.7m | $2.2m |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.