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ARE · Q2 2026
Archived report (Q2 2026). Latest deep dive →
The quarter in brief
Revenue fell 13.0% y/y to $663M, net margin −11.0% vs −14.0%, net loss $72.8M (vs net loss $107M a year earlier).
All figures in $M.
| Line item | Amount and change |
|---|---|
| Income from rentals | $643 · −12.8% |
| Other income | $19.6 · −20.9% |
| Total revenues | $663 · −13.0% |
| Investment income (losses) | $133 · vs −$30.6 |
| Equity in earnings (losses) of unconsolidated joint ventures | $0.4 · vs −$9 |
| Net loss attributable to Alexandria stockholders | $72.8 · −32.0% |
| Depreciation and amortization | $304 · −12.1% |
| Impairment of real estate | $222 · +71.7% |
| Rental operations | $207 · −7.6% |
| Interest | $64.3 · +16.4% |
| General and administrative | $36.9 · +26.5% |
| Net income attributable to noncontrolling interests | $33.8 · −24.5% |
Verdict: revenue fell 13.0% y/y to $663M, net margin −11.0% vs −14.0%, net loss $72.8M (vs net loss $107M a year earlier).
Diluted net loss per share $0.43 vs $0.64 a year earlier; operating occupancy 86.9% (90.9% including executed leases with future occupancy); common stock dividend $0.72 per share.
Source and notation
Source: Alexandria Real Estate Equities earnings release, 8-K EX-99 of 08/03/2026 (SEC EDGAR). REIT layout: total revenues as reported; property expenses, depreciation, interest and other items lead to net income (a REIT pays little or no income tax). FFO is a non-GAAP measure: it appears only in the text, as defined by the company, never in the chart. The income statement lines were taken from the release by hand; the program found every figure in the release text and checked the accounting identities and the chart balance; revenue and net income match SEC XBRL.
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- The loss comes from a $222.5M impairment of real estate; investment income of $133.2M (vs a $30.6M loss a year earlier) partly offset it.
- Total revenues fell 13.0% as income from rentals declined to $643.2M from $737.3M; same property net operating income fell 10.6%, mainly on key lease expirations with expected downtime.
- General and administrative expenses were $36.9 million, up $7.7 million, or 26.5%, from 2Q25.
- Net income was $72.8M, a −11.0% margin vs −14.0% a year earlier.
- Diluted EPS was −$0.43 vs −$0.64 a year earlier.
What distorts the picture in this report and what to watch beyond the headlines.
ARE — Alexandria Real Estate Equities is a life science real estate investment trust (REIT) that owns, develops and operates laboratory and office campuses in innovation clusters such as Greater Boston, the San Francisco Bay Area and San Diego.
Headquarters: Pasadena, California.
Heads-up
- a net loss in Q2 2026 ($72.8 · −32.0%)
- revenue fell 13% y/y in Q2 2026
Net loss for Q2 2026: $72.8M. In the report's figures: costs grew faster than revenue: impairment of real estate +72% y/y, interest +16% y/y, general and administrative +27% y/y. Based on the Q2 2026 report.
The company's report ↗Revenue for Q2 2026: $663M, −13% y/y. In the report's figures: segments down: Income from rentals −13% y/y, Other income −21% y/y. Based on the Q2 2026 report.
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