NexLiving Communities (NXLV) Q2 2025 earnings summary

Executive summary

• NOI grew by 75% year-over-year to $5.2 million for Q2 2025, with FFO per share up 26% for the quarter and 15% for the six-month period ended June 30, 2025.

• Suite count doubled to 2,083 units year-over-year, with occupancy at 95.9% as of June 30, 2025, and rising to 97% post quarter-end.

• Dividend of $0.01 per share declared for Q3 2025, annualized at $0.04 per share.

Financial highlights

• Net operating income for Q2 2025 was $5.2 million, up 75% year-over-year; six-month NOI was $10.1 million, up 72%.

• FFO for Q2 2025 was $1.6 million, up 149.5% year-over-year; FFO per share (diluted) was $0.05, up 26%.

• NOI margin for Q2 was 60.4%, down 93 bps year-over-year; six-month NOI margin was 58.7%.

• Same property NOI increased 3.4% for Q2, with revenue up 3.7% and expenses up 4.2%.

• Fair value gain on investment properties was $4.7 million for Q2 and $8.0 million for the six-month period.

Outlook and guidance

• Management expects additional rental increases by year-end and further financial enhancements.

• Robust acquisition pipeline identified, with focus on recently built or refurbished, highly leased properties in secondary Canadian markets.