Wheeler Real Estate Investment Trust (WHLR) Financial Statements & Analysis

Wheeler Real Estate Investment Trust (WHLR) Income Statement

Wheeler Real Estate Investment Trust reported revenue of $99.44M in fiscal 2025 (fiscal year ended Dec 31, 2025), down 4.9% from $104.57M a year earlier. Net income was $8.77M, a net margin of 8.8%. Gross margin was 66.8% and operating margin 31.9%. In the most recent quarter, Q2 fiscal 2026 (ended Jun 30, 2026), revenue was $22.48M, down 13.9% from the same quarter a year earlier.

Wheeler Real Estate Investment Trust Income Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Wheeler Real Estate Investment Trust, Inc. income statement - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Revenue & Gross Profit
Revenue	99.45	104.57	102.33	76.65	61.31	60.83	63.05	65.79	58.54
Cost of Revenue	33.04	35.10	34.87	25.73	19.62	18.89	19.13	45.56	41.62
Gross Profit	66.40	69.29	67.46	50.91	41.69	41.94	43.92	20.22	16.92
Operating Expenses
Research & Development	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Selling, General & Administrative	11.71	10.80	11.75	8.62	7.14	5.83	6.66	8.30	6.25
Operating Expenses	34.65	31.94	40.25	28.16	22.18	23.52	33.06	6.07	14.35
Operating Income	31.75	31.98	27.20	21.99	19.51	18.42	10.85	14.16	2.57
Other Income/Expense
Interest Income	0.96	1.30	0.48	0.07	0.03	0.00	0.00	0.00	1.44
Interest Expense	31.06	0.00	27.70	21.40	33.03	0.00	0.00	0.00	0.00
Other Income/Expense	-16.89	-31.27	10.76	-30.46	-28.86	-18.13	-18.98	-31.93	-16.73
Income
Income Before Tax	14.86	0.71	6.13	-8.47	-9.35	0.29	-8.13	-17.77	-14.16
Income Tax Expense	0.03	0.00	0.05	0.00	0.00	0.00	0.02	0.04	0.14
Net Income	8.77	-22.18	-4.69	-21.51	-9.44	0.25	-8.04	-16.50	-13.60
Net Income - Continuous Operations	8.77	-9.58	6.08	-8.47	-9.44	0.25	-8.04	-16.50	-13.60
Net Income - Discontinued Operations	-	-	-	-	-	-	-	-	-
EBITDA	68.87	55.06	62.33	40.22	38.49	35.83	36.12	41.25	28.80
EBIT	45.93	33.18	33.83	22.75	19.76	19.00	-	-	-
Depreciation & Amortization	22.94	21.88	28.50	17.46	14.81	16.83	20.06	27.09	26.23
Earnings Per Share
Basic EPS	44299.00	-1732422.00	-29237000.00	-199947000.00	-22261654.00	-15637062.00	-38271847.00	-53331004.00	-44464521.00
Diluted EPS	44299.00	-1732422.00	-29237000.00	-199947000.00	-22261654.00	-15637062.00	-38271847.00	-53331004.00	-44464521.00
Basic Shares Outstanding	0.00	0.01	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Diluted Shares Outstanding	0.00	0.01	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Wheeler Real Estate Investment Trust Financial Statements

What was Wheeler Real Estate Investment Trust's revenue in fiscal 2025?

Wheeler Real Estate Investment Trust reported revenue of $99.44M in fiscal 2025 (fiscal year ended Dec 31, 2025). That was down 4.9% from $104.57M a year earlier.

Is Wheeler Real Estate Investment Trust profitable?

Yes. Wheeler Real Estate Investment Trust earned net income of $8.77M in fiscal 2025, a net margin of 8.8%. In fiscal 2024 it lost $22.18M.

What is Wheeler Real Estate Investment Trust's operating margin?

Wheeler Real Estate Investment Trust's operating income was $31.75M on revenue of $99.44M in fiscal 2025, an operating margin of 31.9%, compared with 30.6% a year earlier.

What is net profit margin?

Net profit margin is net income divided by revenue. It shows how much of each dollar of sales a company keeps as profit after all costs, interest and taxes. Full definition