American Healthcare REIT Inc's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), American Healthcare REIT Inc reported revenue of $2.3B (+9.1% year on year) and net income of $70.8M (+298.9% year on year).
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Resident fees and services | $2.1B | $1.9B | $1.7B | $1.4B |
| Real estate revenue | $165.6M | $186.9M | $190.4M | $205.3M |
| Grant income | $0 | $0 | $7.5M | $25.7M |
| Total revenues and grant income | $2.3B | $2.1B | $1.9B | $1.6B |
| Property operating expenses | $1.8B | $1.7B | $1.5B | $1.3B |
| Rental expenses | $51.4M | $53.2M | $57.5M | $59.7M |
| General and administrative | $58.7M | $47.6M | $47.5M | $43.4M |
| Transaction, transition and restructuring costs | $5.1M | $7.1M | $5.8M | $4.4M |
| Depreciation and amortization | $187.6M | $179.2M | $182.6M | $168.0M |
| Total expenses | $2.1B | $1.9B | $1.8B | $1.6B |
| Interest expense, net | ($85.8M) | ($127.7M) | ($163.2M) | ($106.0M) |
| (Loss) gain in fair value of derivative financial instruments | ($1.0M) | $1.0M | ($926.0K) | $500.0K |
| (Loss) gain on dispositions of real estate investments, net | ($3.0M) | $5.2M | $32.5M | $5.5M |
| Impairment of real estate investments | ($49.9M) | ($45.8M) | ($13.9M) | ($54.6M) |
| Impairment of intangible assets | $0 | — | — | — |
| Loss from unconsolidated entities | ($2.0M) | ($6.9M) | ($1.7M) | $1.4M |
| Gain on re-measurement of previously held equity interest | $14.6M | $0 | $726.0K | $19.6M |
| Foreign currency gain (loss) | $3.2M | ($774.0K) | $2.3M | ($5.2M) |
| Other income, net | $8.8M | $11.4M | $7.6M | $3.1M |
| Total net other expense | ($115.1M) | ($163.5M) | ($147.1M) | ($159.0M) |
| Income (loss) before income taxes | $48.6M | ($33.9M) | ($76.2M) | ($72.8M) |
| Income tax benefit (expense) | $22.2M | ($1.7M) | ($663.0K) | ($586.0K) |
| Net income (loss) | $70.8M | ($35.6M) | ($76.9M) | ($73.4M) |
| Net (income) loss attributable to noncontrolling interests | ($1.0M) | ($2.2M) | $5.4M | ($7.9M) |
| Net income (loss) attributable to controlling interest | $69.8M | ($37.8M) | ($71.5M) | ($81.3M) |
| Net income (loss) per share of Common Stock, Class T common stock and Class I common stock attributable to controlling interest - basic (in dollars per share) | $0.42 | -$0.29 | -$1.08 | -$1.24 |
| Net income (loss) per share of Common Stock, Class T common stock and Class I common stock attributable to controlling interest - diluted (in dollars per share) | $0.42 | -$0.29 | -$1.08 | -$1.24 |
| Weighted average number of shares of Common Stock, Class T common stock and Class I common stock outstanding — basic (in shares) | 166.1M | 130.6M | 66.0M | 65.8M |
| Weighted average number of shares of Common Stock, Class T common stock and Class I common stock outstanding — diluted (in shares) | 166.8M | 130.6M | 66.0M | 65.8M |
| Foreign currency translation adjustments | $408.0K | ($87.0K) | $265.0K | ($724.0K) |
| Total other comprehensive income (loss) | $408.0K | ($87.0K) | $265.0K | ($724.0K) |
| Comprehensive income (loss) | $71.2M | ($35.7M) | ($76.6M) | ($74.1M) |
| Comprehensive (income) loss attributable to noncontrolling interests | ($1.0M) | ($2.2M) | $5.4M | ($7.9M) |
| Comprehensive income (loss) attributable to controlling interest | $70.2M | ($37.9M) | ($71.2M) | ($82.0M) |
| Line item | Jun 30, 2026 · Q2 | Mar 31, 2026 · Q1 | Sep 30, 2025 · Q3 | Jun 30, 2025 · Q2 |
|---|---|---|---|---|
| Resident fees and services | $634.5M | $609.8M | $532.1M | $501.3M |
| Real estate revenue | $39.7M | $41.0M | $40.9M | $41.2M |
| Total revenues | $674.3M | $650.8M | $572.9M | $542.5M |
| Property operating expenses | $524.8M | $512.2M | $454.5M | $426.3M |
| Rental expenses | $12.2M | $13.1M | $12.6M | $13.0M |
| General and administrative | $19.9M | $17.6M | $14.1M | $14.9M |
| Transaction, transition and restructuring costs | $2.8M | $2.0M | $50.0K | ($79.0K) |
| Depreciation and amortization | $72.1M | $67.1M | $49.2M | $41.9M |
| Total expenses | $631.8M | $611.9M | $530.5M | $496.1M |
| Interest expense, net | ($18.6M) | ($18.8M) | ($20.4M) | ($22.6M) |
| Gain (loss) in fair value of derivative financial instruments | $357.0K | $1.5M | $166.0K | ($629.0K) |
| Gain (loss) on dispositions of real estate investments, net | $5.6M | $0 | $691.0K | ($2.7M) |
| Impairment of real estate investments | ($1.7M) | ($418.0K) | ($3.8M) | ($12.7M) |
| Income (loss) from unconsolidated entities | $892.0K | $792.0K | $462.0K | ($1.2M) |
| Foreign currency gain (loss) | $75.0K | ($819.0K) | ($977.0K) | $2.7M |
| Other income, net | $1.9M | $2.3M | $2.3M | $1.5M |
| Total net other expense | ($11.5M) | ($15.4M) | ($6.9M) | ($35.6M) |
| Income before income taxes | $31.0M | $23.5M | $35.5M | $10.8M |
| Income tax benefit (expense) | $3.0K | $525.0K | $21.1M | ($732.0K) |
| Net income | $31.0M | $24.0M | $56.6M | $10.1M |
| Net income attributable to noncontrolling interests | ($374.0K) | ($298.0K) | ($712.0K) | ($171.0K) |
| Net income attributable to controlling interest | $30.6M | $23.7M | $55.9M | $9.9M |
| Net income per common share attributable to controlling interest - Basic | $0.16 | $0.13 | $0.33 | $0.06 |
| Net income per common share attributable to controlling interest - Diluted | $0.16 | $0.13 | $0.33 | $0.06 |
| Weighted average number of common shares outstanding - Basic | 192.7M | 187.3M | 169.0M | 160.5M |
| Weighted average number of common shares outstanding - Diluted | 193.3M | 188.0M | 169.8M | 161.1M |
| Foreign currency translation adjustments | $11.0K | ($120.0K) | ($121.0K) | $343.0K |
| Total other comprehensive income (loss) | $11.0K | ($120.0K) | ($121.0K) | $343.0K |
| Comprehensive income | $31.0M | $23.9M | $56.5M | $10.4M |
| Comprehensive income attributable to noncontrolling interests | ($374.0K) | ($298.0K) | ($712.0K) | ($171.0K) |
| Comprehensive income attributable to controlling interest | $30.6M | $23.6M | $55.8M | $10.3M |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Real estate investments, net | $4.2B | $3.4B | $3.4B | $3.6B |
| Debt security investment, net | $92.1M | $91.3M | $86.9M | $83.0M |
| Cash and cash equivalents | $114.8M | $76.7M | $43.4M | $65.1M |
| Restricted cash | $36.9M | $46.6M | $47.3M | $46.9M |
| Accounts and other receivables, net | $204.3M | $211.1M | $185.4M | $137.5M |
| Identified intangible assets, net | $253.2M | $161.5M | $180.5M | $236.3M |
| Goodwill | $234.9M | $234.9M | $234.9M | $231.6M |
| Operating lease right-of-use assets, net | $135.4M | $164.0M | $227.8M | $276.3M |
| Other assets, net | $171.0M | $135.3M | $146.1M | $128.4M |
| Total assets | $5.4B | $4.5B | $4.6B | $4.8B |
| Mortgage loans payable, net | $966.9M | $982.1M | $1.3B | $1.2B |
| Lines of credit and term loan, net | $549.8M | $688.5M | $1.2B | $1.3B |
| Accounts payable and accrued liabilities | $317.7M | $258.3M | $242.9M | $243.8M |
| Identified intangible liabilities, net | $2.1M | $3.0M | $6.1M | $10.8M |
| Financing obligations | $33.9M | $34.9M | $41.8M | $48.4M |
| Operating lease liabilities | $135.6M | $165.2M | $225.5M | $273.1M |
| Security deposits, prepaid rent and other liabilities | $59.6M | $51.9M | $76.1M | $49.5M |
| Total liabilities | $2.1B | $2.2B | $3.1B | $3.1B |
| Redeemable noncontrolling interests | $0 | $220.0K | $33.8M | $81.6M |
| Preferred Stock | $0 | $0 | $0 | $0 |
| Common stock | $1.9M | $1.6M | $661.0K | $661.0K |
| Additional paid-in capital | $4.9B | $3.7B | $2.5B | $2.5B |
| Accumulated deficit | ($1.6B) | ($1.5B) | ($1.3B) | ($1.1B) |
| Accumulated other comprehensive loss | ($2.1M) | ($2.5M) | ($2.4M) | ($2.7M) |
| Total stockholders’ equity | $3.3B | $2.3B | $1.3B | $1.4B |
| Noncontrolling interests | $40.0M | $42.7M | $155.0M | $167.7M |
| Total equity | $3.4B | $2.3B | $1.4B | $1.6B |
| Total liabilities, redeemable noncontrolling interests and equity | $5.4B | $4.5B | $4.6B | $4.8B |
| Line item | Jun 30, 2026 | Mar 31, 2026 | Sep 30, 2025 | Jun 30, 2025 |
|---|---|---|---|---|
| Real estate investments, net | $4.4B | $4.3B | $3.6B | $3.3B |
| Debt security investment, net | $92.5M | $92.3M | $92.0M | $91.8M |
| Cash and cash equivalents | $156.9M | $119.4M | $147.4M | $133.5M |
| Restricted cash | $34.7M | $37.5M | $37.0M | $36.5M |
| Accounts and other receivables, net | $229.6M | $241.6M | $188.6M | $224.1M |
| Identified intangible assets, net | $237.2M | $250.4M | $181.4M | $155.9M |
| Goodwill | $234.9M | $234.9M | $234.9M | $234.9M |
| Operating lease right-of-use assets, net | $124.4M | $130.4M | $140.7M | $147.9M |
| Other assets, net | $175.1M | $172.2M | $149.7M | $135.9M |
| Total assets | $5.7B | $5.6B | $4.8B | $4.5B |
| Mortgage loans payable, net | $873.4M | $962.4M | $971.4M | $983.5M |
| Lines of credit and term loan, net | $549.9M | $549.8M | $549.7M | $549.6M |
| Accounts payable and accrued liabilities | $332.1M | $340.3M | $298.1M | $273.7M |
| Identified intangible liabilities, net | $1.8M | $2.0M | $2.3M | $2.6M |
| Financing obligations | $19.3M | $33.7M | $34.1M | $34.4M |
| Operating lease liabilities | $124.9M | $130.8M | $141.3M | $148.2M |
| Security deposits, prepaid rent and other liabilities | $60.6M | $58.4M | $53.5M | $52.0M |
| Total liabilities | $2.0B | $2.1B | $2.1B | $2.0B |
| Preferred Stock | $0 | $0 | $0 | $0 |
| Common stock | $1.9M | $1.9M | $1.7M | $1.6M |
| Additional paid-in capital | $5.3B | $5.1B | $4.2B | $4.0B |
| Accumulated deficit | ($1.6B) | ($1.6B) | ($1.5B) | ($1.5B) |
| Accumulated other comprehensive loss | ($2.2M) | ($2.2M) | ($2.1M) | ($2.0M) |
| Total stockholders’ equity | $3.7B | $3.5B | $2.7B | $2.4B |
| Noncontrolling interests | $47.3M | $39.7M | $41.8M | $41.6M |
| Total equity | $3.7B | $3.5B | $2.7B | $2.5B |
| Total liabilities and equity | $5.7B | $5.6B | $4.8B | $4.5B |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Net income (loss) | $70.8M | ($35.6M) | ($76.9M) | ($73.4M) |
| Depreciation and amortization | $187.6M | $179.2M | $182.6M | $168.0M |
| Other amortization | $37.6M | $42.4M | $54.7M | $32.6M |
| Deferred rent | ($3.1M) | ($3.2M) | ($3.5M) | ($6.5M) |
| Stock based compensation | $14.6M | $9.9M | $5.5M | $3.9M |
| Loss (gain) on dispositions of real estate investments, net | $3.0M | ($5.2M) | ($32.5M) | ($5.5M) |
| Impairment of real estate investments | $49.9M | $45.8M | $13.9M | $54.6M |
| Impairment of intangible assets | $0 | — | — | — |
| Loss from unconsolidated entities | $2.0M | $6.9M | $1.7M | ($1.4M) |
| Distributions of earnings from unconsolidated entity | $211.0K | — | — | — |
| Deferred income taxes | ($22.9M) | — | — | $0 |
| Gain on re-measurement of previously held equity interests | ($14.6M) | $0 | ($726.0K) | ($19.6M) |
| Foreign currency (gain) loss | ($3.2M) | $780.0K | ($2.3M) | $4.9M |
| Loss on extinguishments of debt | $1.8M | $4.9M | $345.0K | $5.2M |
| Change in fair value of derivative financial instruments | $1.0M | ($1.0M) | $926.0K | ($500.0K) |
| Accounts and other receivables | ($13.1M) | ($23.7M) | ($34.7M) | ($4.5M) |
| Other assets | ($20.6M) | ($9.5M) | ($4.2M) | ($8.3M) |
| Accounts payable and accrued liabilities | $29.0M | ($653.0K) | $15.4M | $14.1M |
| Operating lease liabilities | ($30.0M) | ($33.3M) | ($36.6M) | ($24.7M) |
| Security deposits, prepaid rent and other liabilities | $4.4M | ($1.6M) | $4.3M | ($14.2M) |
| Net cash provided by operating activities | $294.4M | $176.1M | $98.5M | $147.8M |
| Developments and capital expenditures | ($128.6M) | ($91.9M) | ($99.8M) | ($71.5M) |
| Acquisitions of real estate investments | ($884.4M) | ($60.4M) | ($45.4M) | ($73.2M) |
| Proceeds from dispositions of real estate investments | $50.2M | $141.3M | $184.5M | $48.3M |
| Acquisitions of previously held equity interests | ($118.4M) | $0 | ($335.0K) | ($13.7M) |
| Investments in unconsolidated entities | ($443.0K) | ($235.0K) | ($12.6M) | ($4.9M) |
| Distributions in excess of earnings from unconsolidated entity | $0 | $126.0K | — | — |
| Issuances of real estate notes receivable | ($5.9M) | ($28.1M) | ($21.0M) | ($3.0M) |
| Principal repayments on real estate notes receivable | $10.8M | $30.0M | $6.1M | — |
| Real estate and other deposits | ($6.6M) | $510.0K | ($2.2M) | ($554.0K) |
| Net cash (used in) provided by investing activities | ($1.1B) | ($8.7M) | $9.4M | ($118.6M) |
| Borrowings under mortgage loans payable | $30.0M | $63.0M | $160.4M | $120.1M |
| Payments on mortgage loans payable | ($49.2M) | ($515.2M) | ($101.5M) | ($125.5M) |
| Borrowings under the lines of credit and term loan | $248.5M | $891.3M | $401.4M | $1.2B |
| Payments on the lines of credit and term loan | ($387.5M) | ($1.4B) | ($459.4M) | ($1.1B) |
| Borrowings under financing obligations | $0 | ($7.5M) | $16.3M | $25.9M |
| Payments on financing and other obligations | ($1.8M) | $0 | ($34.9M) | ($13.7M) |
| Deferred financing costs | ($513.0K) | ($8.7M) | ($5.3M) | ($7.5M) |
| Debt extinguishment costs | ($150.0K) | ($2.3M) | ($269.0K) | ($3.2M) |
| Proceeds from issuance of common stock in offerings | $1.2B | $1.4B | — | — |
| Proceeds from issuance of common stock pursuant to employee stock purchase plan | $238.0K | — | — | — |
| Payment of offering costs | ($10.1M) | ($72.7M) | ($1.5M) | ($2.1M) |
| Distributions paid | ($163.5M) | ($120.9M) | ($76.3M) | ($51.1M) |
| Repurchase of common stock | $0 | ($14.0K) | ($469.0K) | ($20.7M) |
| Payments to taxing authorities in connection with common stock directly withheld from employees | ($2.4M) | ($639.0K) | ($72.0K) | — |
| Line item | Jun 30, 2026 · YTD | Mar 31, 2026 · Q1 | Sep 30, 2025 · YTD | Jun 30, 2025 · YTD |
|---|---|---|---|---|
| Net income | $55.0M | $24.0M | $59.9M | $3.2M |
| Depreciation and amortization | $139.2M | $67.1M | $132.2M | $83.1M |
| Other amortization | $18.0M | $8.9M | $28.8M | $19.2M |
| Deferred rent | ($1.3M) | ($780.0K) | ($2.3M) | ($1.6M) |
| Stock based compensation | $10.6M | $4.9M | $9.2M | $5.7M |
| (Gain) loss on dispositions of real estate investments, net | ($5.6M) | $0 | $2.3M | $3.0M |
| Impairment of real estate investments | $2.1M | $418.0K | $38.1M | $34.4M |
| (Income) loss from unconsolidated entities | ($1.7M) | ($792.0K) | $2.6M | $3.1M |
| Distributions of earnings from unconsolidated entities | $3.0K | $3.0K | — | — |
| Deferred income tax benefit | ($947.0K) | ($724.0K) | ($21.4M) | — |
| Foreign currency loss (gain) | $719.0K | $810.0K | ($3.2M) | ($4.2M) |
| Loss on extinguishments of debt | $147.0K | $0 | $1.8M | $1.8M |
| Change in fair value of derivative financial instruments | ($1.9M) | ($1.5M) | $1.2M | $1.4M |
| Accounts and other receivables | ($25.9M) | ($31.4M) | $4.2M | ($13.6M) |
| Other assets | $6.8M | ($7.2M) | ($5.9M) | ($5.0M) |
| Accounts payable and accrued liabilities | $18.1M | $24.6M | $27.6M | $16.7M |
| Operating lease liabilities | ($14.2M) | ($7.0M) | ($22.8M) | ($15.5M) |
| Security deposits, prepaid rent and other liabilities | $531.0K | ($128.0K) | $1.5M | $327.0K |
| Net cash provided by operating activities | $199.7M | $81.1M | $239.3M | $132.1M |
| Acquisitions of real estate investments | ($291.7M) | ($165.9M) | ($340.4M) | ($81.9M) |
| Developments and capital expenditures | ($86.0M) | ($38.3M) | ($80.4M) | ($48.1M) |
| Proceeds from dispositions of real estate investments | $7.3M | $0 | $46.6M | $36.4M |
| Investments in unconsolidated entities | ($68.0K) | ($16.0K) | ($443.0K) | ($360.0K) |
| Issuances of real estate notes receivable | $0 | $0 | ($5.9M) | ($5.9M) |
| Principal repayments on real estate notes receivable | $0 | $0 | $9.6M | $6.6M |
| Real estate and other deposits | ($7.3M) | ($164.0K) | ($2.4M) | ($1.7M) |
| Proceeds from insurance recoveries | $1.3M | $1.3M | — | — |
| Net cash used in investing activities | ($376.4M) | ($203.1M) | ($373.3M) | ($94.9M) |
| Borrowings under mortgage loans payable | $0 | $0 | $30.0M | $30.0M |
| Payments on mortgage loans payable | ($95.5M) | ($5.5M) | ($43.7M) | ($30.7M) |
| Borrowings under the lines of credit and term loan | $0 | $0 | $215.0M | $132.5M |
| Payments on the lines of credit and term loan | $0 | $0 | ($354.0M) | ($271.5M) |
| Payments on financing and other obligations | ($675.0K) | ($351.0K) | ($1.4M) | ($1.0M) |
| Deferred financing costs | ($5.5M) | ($6.0K) | ($259.0K) | ($259.0K) |
| Debt extinguishment costs | $0 | $0 | ($104.0K) | ($52.0K) |
| Proceeds from issuance of common stock in offerings | $420.8M | $191.6M | $479.6M | $236.3M |
| Proceeds from issuance of common stock pursuant to employee stock purchase plan | $135.0K | $135.0K | $238.0K | — |
| Payment of offering costs | ($3.5M) | ($1.3M) | ($4.7M) | ($2.3M) |
| Distributions paid | ($94.4M) | ($46.8M) | ($120.7M) | ($79.4M) |
| Payments to taxing authorities in connection with common stock directly withheld from employees | ($11.0M) | ($9.7M) | ($2.4M) | ($2.4M) |
| Contribution from noncontrolling interest | $8.0M | — | — | — |
| Distributions to noncontrolling interests | ($1.3M) | ($591.0K) | ($1.8M) | ($1.2M) |
| Security deposits, net | ($353.0K) | ($146.0K) | ($649.0K) | ($498.0K) |
| Net cash provided by financing activities | $216.7M | $127.2M | $195.0M | $9.3M |
| NET CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH | $39.9M | $5.2M | $61.0M | $46.6M |
American Healthcare REIT Inc score and earnings-call analysis · All covered companies
Figures as reported in SEC filings. General information, not investment advice.