--- title: "Veris Residential | 10-Q: FY2026 Q1 Revenue: USD 70.1 M" type: "News" locale: "en" url: "https://longbridge.com/en/news/283717928.md" datetime: "2026-04-22T20:14:16.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/283717928.md) - [en](https://longbridge.com/en/news/283717928.md) - [zh-HK](https://longbridge.com/zh-HK/news/283717928.md) --- # Veris Residential | 10-Q: FY2026 Q1 Revenue: USD 70.1 M Revenue: As of FY2026 Q1, the actual value is USD 70.1 M. EPS: As of FY2026 Q1, the actual value is USD -0.15. EBIT: As of FY2026 Q1, the actual value is USD 19.83 M. ### Revenue - **Revenue from leases**: Increased by $2.6 million, or 4.2%, to $64,591 thousand for the three months ended March 31, 2026, compared to $61,965 thousand for the same period in 2025. - **Parking income**: Decreased by $290 thousand, or -7.7%, to $3,459 thousand for the three months ended March 31, 2026, from $3,749 thousand in 2025. - **Other income**: Increased by $194 thousand, or 14.7%, to $1,518 thousand for the three months ended March 31, 2026, from $1,324 thousand in 2025. - **Total revenues from rental operations**: Increased by $2,530 thousand, or 3.8%, to $69,568 thousand for the three months ended March 31, 2026, from $67,038 thousand in 2025. - **Management fees**: Decreased by $184 thousand, or -25.6%, to $534 thousand for the three months ended March 31, 2026, from $718 thousand in 2025. ### Expenses - **Real estate taxes**: Decreased by $1.5 million, or -15.8%, to $7,756 thousand for the three months ended March 31, 2026, from $9,212 thousand in 2025. - **Utilities**: Increased by $73 thousand, or 2.6%, to $2,880 thousand for the three months ended March 31, 2026, from $2,807 thousand in 2025. - **Operating services**: Decreased by $331 thousand, or -3.0%, to $10,662 thousand for the three months ended March 31, 2026, from $10,993 thousand in 2025. - **Property management**: Increased by $97 thousand, or 2.2%, to $4,482 thousand for the three months ended March 31, 2026, from $4,385 thousand in 2025. - **General and administrative**: Increased by $481 thousand, or 4.8%, to $10,549 thousand for the three months ended March 31, 2026, from $10,068 thousand in 2025. - **Transaction and merger related costs**: Increased by $10.2 million, or 3304.5%, to $10,486 thousand for the three months ended March 31, 2026, from $308 thousand in 2025. - **Depreciation and amortization**: Decreased by $27 thousand, or -0.1%, to $21,226 thousand for the three months ended March 31, 2026, from $21,253 thousand in 2025. - **Land and other impairments, net**: Was $0 for the three months ended March 31, 2026, a -100.0% decrease from $3,200 thousand in 2025. ### Other Income and Expense - **Operating profit**: Decreased by $3,469 thousand, or -62.7%, to $2,061 thousand for the three months ended March 31, 2026, from $5,530 thousand in 2025. - **Interest expense**: Decreased by $5.1 million, or -22.2%, to -$17,871 thousand for the three months ended March 31, 2026, from -$22,960 thousand in 2025. - **Equity in earnings (losses) of unconsolidated joint ventures**: Decreased by $3.4 million, or -88.0%, to $460 thousand for the three months ended March 31, 2026, from $3,842 thousand in 2025. - **Net income (loss)**: Was -$15,600 thousand for the three months ended March 31, 2026, compared to -$13,730 thousand for the same period in 2025, representing a 13.6% increase in loss. ### Cash Flow - **Net cash provided by operating activities**: Was $14,043 thousand for the three months ended March 31, 2026, compared to $13,193 thousand for the same period in 2025. - **Net cash used in investing activities**: Was -$3,934 thousand for the three months ended March 31, 2026, compared to $3,442 thousand provided by investing activities for the same period in 2025. - **Net cash used in financing activities**: Was -$16,367 thousand for the three months ended March 31, 2026, compared to -$18,837 thousand for the same period in 2025. ### Unique Metrics - **Funds from Operations (FFO)**: FFO available to common stock and Operating Partnership unitholders was $6,284 thousand for the three months ended March 31, 2026, a decrease from $11,759 thousand for the same period in 2025. - **Debt Summary**: As of March 31, 2026, total debt, net, was $1,361,339 thousand, with a weighted average interest rate of 4.98% and a weighted average maturity of 1.81 years. - **Unencumbered Properties**: As of March 31, 2026, Veris Residential, Inc. had five unencumbered properties with a carrying value of $272.8 million. ### Future Outlook and Strategy Veris Residential, Inc. entered into a Merger Agreement on February 23, 2026, with AC Residential Acquisition LP, under which common stockholders will receive $19.00 per share in cash upon closing. Due to the Merger Agreement, the company has agreed to certain capital restrictions, including a limit on the Q1 2026 regular quarterly dividend not exceeding $0.08 per share or unit, and no additional dividends without Parent’s consent, except to maintain REIT tax status. The $100 million share repurchase program, set to expire in February 2027, is not permitted to acquire any shares without the prior consent of Parent, and the ATM program and DRIP were terminated effective February 23, 2026. ### Related Stocks - [VRE.US](https://longbridge.com/en/quote/VRE.US.md) ## Related News & Research - [17:25 ETAre XOMA, OGN, VRE Obtaining Fair Deals for their Shareholders?](https://longbridge.com/en/news/286471428.md) - [Electro-Sensors GAAP EPS of -$0.03, revenue of $2.6M](https://longbridge.com/en/news/286518577.md) - [Crombie Reit Announces May 2026 Monthly Distribution | CROMF Stock News](https://longbridge.com/en/news/286603129.md) - [ORVANA ANNOUNCES Q2 FY2026 RESULTS; PROVIDES UPDATE ON OXIDES STOCKPILE PROJECT AND TAGUAS DRILLING](https://longbridge.com/en/news/286256424.md) - [National Grid FY26 Profit Rises; Sees Earnings Growth In FY27, Backs 5 Yr Financial Framework](https://longbridge.com/en/news/286373448.md)