Quarterly ResultMay 8, 2026, 06:13 AM
NewLake Capital Q1 Revenue $12.3M, Net Income $5.87M; EPS $0.28
AI Summary
NewLake Capital Partners reported a decrease in Q1 2026 total revenue by 6.8% to $12.309 million and net income by 8.3% to $5.874 million, with basic EPS at $0.28. Despite the decline in top-line financials, net cash provided by operating activities increased by 2.3% to $10.394 million. The company noted that tenant The Cannabist Company, which leases four properties, commenced restructuring proceedings, though NewLake collected full rent and the tenant remains current. Strategic lease modifications included a five-year extension for a San Diego property and the addition of new guarantors for two other leases.
Key Highlights
- Q1 Total Revenue decreased 6.8% to $12.309 million from $13.209 million year-over-year.
- Q1 Net Income decreased 8.3% to $5.874 million from $6.404 million year-over-year.
- Basic Net Income per Common Share for Q1 was $0.28, down from $0.31 in the prior year.
- Net cash provided by operating activities increased 2.3% to $10.394 million.
- Tenant The Cannabist Company, operating 4 properties, commenced restructuring proceedings in Canada.
- Extended San Diego, CA dispensary lease by five years to December 2034 with Wellgreens.
- Added Holistic Industries and Canopy USA as guarantors for two Pennsylvania and Massachusetts leases.
- No real estate acquisitions or dispositions occurred during the first quarter of 2026.
Price Impact
More from NLCP