NewLake Capital Q2 FY26 net income drops 19.4% to $5.9 million; revenue falls 6.5% to $12.1 million
NLCP•Quarterly results and financing update
- NewLake Capital Partners posted Q2 revenue of $12.1 million, down 6.5% from a year earlier.
- Net income attributable to common stockholders fell 19.4% to $5.9 million, or $0.29 per diluted share.
- Funds from operations (non-GAAP) slipped 13.2% to $9.9 million, while AFFO (non-GAAP) dropped 10.4% to $10.3 million.
- Management cited 100% collection of contractual rent, while revenue declines reflected lost rental income from three properties that became available for lease in 2025.
- Subsequent to quarter-end, NewLake extended its $90 million revolving credit facility maturity to May 2029 and cut pricing to Prime from Prime plus 1.0%.
