VICI Properties Inc. stock research
FY2024 Q3
VICI Properties (VICI) Gross Margin — Quarter Ended Sep 30, 2024
Revenue increased compared to both the prior quarter and the same quarter last year, and gross profit moved in line with revenue, while cost of revenue remained stable sequentially but was higher year-over-year. Gross margin was unchanged across all three periods, indicating a consistent relationship between revenue and cost of revenue.
Gross margin takeaway
Quarter ended Sep 30, 2024 · FY2024 Q3
Revenue increased compared to both the prior quarter and the same quarter last year, and gross profit moved in line with revenue, while cost of revenue remained stable sequentially but was higher year-over-year. Gross margin was unchanged across all three periods, indicating a consistent relationship between revenue and cost of revenue.
- The gross margin held steady at the same level as both the preceding quarter and the year-ago quarter, reflecting no change in the proportion of revenue retained after cost of revenue.
- Revenue and gross profit were higher than in the immediately preceding quarter and the same quarter one year earlier, while gross margin was unchanged. Cost of revenue was flat sequentially but higher compared to the year-ago period.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
99.3%
Gross profit
$957.8M
Revenue
$964.7M
Cost of revenue
$6.8M
Quarter-over-quarter change
+0.0 pts
Year-over-year change
-0.0 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 |
|---|---|---|---|---|
| Dec 31, 2023 | $931.9M | $923.6M | $8.2M | 99.1% |
| Mar 31, 2024 | $951.5M | $945.0M | $6.5M | 99.3% |
| Jun 30, 2024 | $957.0M | $950.2M | $6.8M | 99.3% |
| Sep 30, 2024 | $964.7M | $957.8M | $6.8M | 99.3% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Jun 30, 2024
+0.0 pts
Year-over-year change
Sep 30, 2023
-0.0 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The gross margin held steady at the same level as both the preceding quarter and the year-ago quarter, reflecting no change in the proportion of revenue retained after cost of revenue.
Revenue and gross profit were higher than in the immediately preceding quarter and the same quarter one year earlier, while gross margin was unchanged. Cost of revenue was flat sequentially but higher compared to the year-ago period.
Monitor cost of revenue trends, as a small absolute change could materially affect the high gross margin.