Healthpeak Properties, Inc. stock research
FY2024 Q1
Healthpeak Properties (DOC) Gross Margin — Quarter Ended Mar 31, 2024
The current quarter's gross profit was negative, as cost of revenue exceeded revenue. Compared to the prior quarter, the gross margin weakened, while it remained stable relative to the same quarter last year.
Gross margin takeaway
Quarter ended Mar 31, 2024 · FY2024 Q1
The current quarter's gross profit was negative, as cost of revenue exceeded revenue. Compared to the prior quarter, the gross margin weakened, while it remained stable relative to the same quarter last year.
- The most significant observable driver was the larger increase in cost of revenue compared to revenue, which widened the gap between them.
- Gross margin weakened from the previous quarter but was stable compared to the same quarter one year earlier.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
-75.6%
Gross profit
-$105.0M
Revenue
$138.8M
Cost of revenue
$243.7M
Quarter-over-quarter change
-11.0 pts
Year-over-year change
-0.1 pts
Quarterly gross margin trend
A four-quarter view of the revenue and direct-cost bridge behind gross margin.
| Period | Revenue | Gross profit | Cost of revenue | Gross margin |
|---|---|---|---|---|
| Jun 30, 2023 | $130.2M | -$91.7M | $221.8M | -70.4% |
| Sep 30, 2023 | $133.8M | -$98.9M | $232.7M | -73.9% |
| Dec 31, 2023 | $136.3M | -$88.1M | $224.4M | -64.6% |
| Mar 31, 2024 | $138.8M | -$105.0M | $243.7M | -75.6% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Dec 31, 2023
-11.0 pts
Year-over-year change
Mar 31, 2023
-0.1 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The most significant observable driver was the larger increase in cost of revenue compared to revenue, which widened the gap between them.
Gross margin weakened from the previous quarter but was stable compared to the same quarter one year earlier.
Monitor the trend of cost of revenue relative to revenue.