Short answer
Alexandria Real Estate Equities (ARE) filed its Q3 2025 10-Q quarterly report on Oct 27, 2025 for the quarter ended Sep 30, 2025. Quarterly revenue was $752M (down 5.0% year over year) with net income of −$233M.
Q3 2025 key financials · XBRL
- Revenue
- $752M
- −5.0% YoY · −1.3% QoQ
- Net income
- −$233M
- −238.6% YoY · −117.5% QoQ
- EPS (diluted)
- −$1.38
- −243.8% YoY · −115.6% QoQ
Source: XBRL data from the Alexandria Real Estate Equities (ARE) Q3 2025 10-Q on SEC EDGAR. USD.
Alexandria Real Estate Equities Q3 2025 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Revenue not explicitly stated; FFO $377.8M, down 7.4% YoY from $407.9M for Q3 2024
- Net loss $234.9M vs net income $164.7M YoY for Q3; per share loss $(1.38) vs income $0.96
- Operating margin % not provided; FFO per share $2.22 vs $2.37 YoY for Q3
- No segment or product line revenue breakdown in text; 97% leases have ~3% annual rent escalations
- No specific cash flow or capital deployment changes detailed; $27.8B market cap as of Sept 30, 2025
- Management notes strong leasing activity with 82% from existing tenants; no updated guidance or outlook disclosed
Risk Factors
- Newly added risk: FDA laid off 3,500 employees (19% of workforce) in 2025 disrupting regulatory approvals and R&D timelines for tenants
- Most materially updated risk: NIH budget freeze reversed but FY2026 proposal cuts NIH funding by 40% from $48B to $27.5B impacting research funding
- Most impactful regulatory risk: Executive order imposing 100% tariff on branded patented drugs imported to U.S. from October 1, 2025 may raise costs and push onshoring
- Operational risk: Tariffs on imports from China, Mexico, Canada peaking at 125% before adjustments, causing supply chain disruptions and cost increases for tenants
- Financial risk: Partial U.S. government shutdown starting October 1, 2025 furloughing federal employees, delaying FDA drug application reviews, jeopardizing tenant operations and lease payments
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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