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Where the tokens are
Standardised from the company’s filings, newest period first, labelled with the company’s own fiscal calendar. A line the company does not report is left off rather than shown as zero; margins and free cash flow are worked out here, and only where every input is present.
| Line item | Q2 FY262026-06-30 | Q1 FY262026-03-31 | Q4 FY252025-12-31 | Q3 FY252025-09-30 | Q2 FY252025-06-30 | Q1 FY252025-03-31 | Q4 FY242024-12-31 | Q3 FY242024-09-30 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $747.55M | $734.11M | $685.25M | $688.17M | $681.40M | $674.48M | $659.13M | $660.32M |
| Cost of revenue | $255.71M | $329.59M | $244.82M | $259.04M | $244.28M | $274.19M | $228.46M | $242.23M |
| Gross profit | $491.84M | $404.52M | $440.43M | $429.13M | $437.12M | $400.29M | $430.67M | $418.09M |
| Gross margin | 65.8% | 55.1% | 64.3% | 62.4% | 64.2% | 59.3% | 65.3% | 63.3% |
| Selling, general and administrative | $29.33M | $32.32M | $23.70M | $18.44M | $23.59M | $29.52M | $23.94M | $21.73M |
| Operating expenses | $307.81M | $229.81M | $253.37M | $247.39M | $247.91M | $217.35M | $292.65M | $257.46M |
| Operating income | $184.03M | $174.71M | $187.06M | $181.74M | $189.22M | $182.94M | $138.01M | $160.63M |
| Operating margin | 24.6% | 23.8% | 27.3% | 26.4% | 27.8% | 27.1% | 20.9% | 24.3% |
| EBITDA | $382.57M | $372.20M | $377.25M | $373.61M | $377.70M | $370.77M | $367.49M | $361.99M |
| Interest expense | −$93.99M | −$95.31M | −$90.88M | −$90.78M | −$87.41M | −$84.25M | −$95.16M | −$91.06M |
| Income before taxes | $219.65M | $161.07M | $145.05M | $137.21M | $141.37M | $166.28M | $143.57M | $95.58M |
| Net income | $219.65M | $161.07M | $145.05M | $137.21M | $141.37M | $166.28M | $143.57M | $95.58M |
| Net margin | 29.4% | 21.9% | 21.2% | 19.9% | 20.7% | 24.7% | 21.8% | 14.5% |
| EPS, basic | $0.37 | $0.26 | $0.24 | $0.22 | $0.23 | $0.27 | $0.23 | $0.16 |
| EPS, diluted | $0.37 | $0.26 | $0.24 | $0.22 | $0.23 | $0.27 | $0.23 | $0.15 |
| Diluted shares | 592.50M | 606.23M | 613.00M | 613.08M | 613.26M | 613.36M | 613.25M | 613.65M |
Figures describe Invitation Homes shares, not any token. As of Jul 30, 2026, from Massive's standardised financials. The company reports these figures; a token's issuer holds the shares and reports nothing of its own here.