NexLiving Communities (NXLV) Q3 2025 earnings summary

Executive summary

• Achieved record Q3 2025 results with FFO per share up 30% year-over-year, driven by operational improvements and acquisitions.

• Brought management of Saint John portfolio in-house, resulting in a 13% increase in same-property NOI.

• Recent Winnipeg acquisition contributed positively to FFO; Ottawa townhome project expected to further boost growth.

Financial highlights

• Net operating income (NOI) rose 52% to $5.3M for Q3 and 65% for the nine months ended September 30, 2025.

• FFO increased 92% to $2.2M; fully diluted FFO per share up 30% to $0.07 for Q3.

• Same property NOI up 4.5% on a 3.1% revenue increase and 1.1% expense rise for Q3.

• NOI margin for Q3 was 61.7%, up 100 bps year-over-year; FFO payout ratio improved to 15%.

• Net asset value per share was $4.12, up from $4.42 year-over-year.

Outlook and guidance

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

• Construction on Ottawa townhome project progressing, with plans to add high-quality assets via a cashless option.