Healthpeak Properties, Inc. stock research
FY2024 Q2
Healthpeak Properties (DOC) Gross Margin — Quarter Ended Jun 30, 2024
Revenue increased compared to both the prior quarter and the same quarter last year, but cost of revenue grew even more, resulting in a larger negative gross profit. Consequently, gross margin weakened significantly in the current quarter.
Gross margin takeaway
Quarter ended Jun 30, 2024 · FY2024 Q2
Revenue increased compared to both the prior quarter and the same quarter last year, but cost of revenue grew even more, resulting in a larger negative gross profit. Consequently, gross margin weakened significantly in the current quarter.
- The disproportionate increase in cost of revenue relative to revenue is the primary factor driving a larger negative gross profit and margin decline.
- Gross margin became more negative compared to the preceding quarter and the same quarter one year earlier, as cost of revenue rose faster than revenue in both comparisons.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
-94.4%
Gross profit
-$132.9M
Revenue
$140.9M
Cost of revenue
$273.8M
Quarter-over-quarter change
-18.7 pts
Year-over-year change
-24.0 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 |
|---|---|---|---|---|
| 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% |
| Jun 30, 2024 | $140.9M | -$132.9M | $273.8M | -94.4% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Mar 31, 2024
-18.7 pts
Year-over-year change
Jun 30, 2023
-24.0 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The disproportionate increase in cost of revenue relative to revenue is the primary factor driving a larger negative gross profit and margin decline.
Gross margin became more negative compared to the preceding quarter and the same quarter one year earlier, as cost of revenue rose faster than revenue in both comparisons.
Monitor the trend of cost of revenue relative to revenue, as the widening gap may continue to pressure gross margin.