American Healthcare Reit, Inc. (AHR) Revenue by Segment

American Healthcare Reit revenue by segment at a glance

In Q2 fiscal 2026 (the quarter ended June 30, 2026), American Healthcare Reit's largest business segment was Integrated Senior Health Campuses, with $512.88 million or 76% of revenue, up 19.5% from a year earlier. Next: SHOP (18%), Outpatient Medical (4%) and Triple-Net Leased Properties (1%).

By region, United States brought in 100% and Non-US brought in under 1% of revenue in Q2 fiscal 2026.

By customer type, Private and Other Payors brought in 53%, Medicare brought in 27% and Medicaid brought in 20% of revenue in Q3 fiscal 2023.

The fastest-growing business segment from a year earlier was SHOP (+69.1%).

From company filings, in USD; latest quarter ended June 30, 2026; quarterly data from Q3 fiscal 2017.

American Healthcare Reit, Inc.

AHRFinancial Services

United States

Financial Services

Revenue breakdown

Fiscal quarters, from company filings

Segments by quarter (USD)

Click a bar to see that period below. Striped bars are calculated fourth quarters; an empty slot means it could not be calculated on the same basis i

Integrated Senior Health CampusesShopOutpatient MedicalMedical Office BuildingTriple-Net Leased PropertiesSenior Housing-RIDEASkilled Nursing FacilitiesSenior Housing

Q2 FY26 breakdown

Fiscal quarter ended Jun 30, 2026

Item	Revenue	Share	vs year before
Integrated Senior Health Campuses	USD 512.88M	76.1%	+19.5%
Shop	USD 121.64M	18.0%	+69.1%
Outpatient Medical	USD 29.98M	4.4%	-4.1%
Triple-Net Leased Properties	USD 9.75M	1.4%	-2.2%

Sum of items USD 674.25M. Shares are of the items shown. Click an item with › to see its parts.

Also reported by:

All periods

Every item and period in one grid. Purple = calculated; "–" = not available.

Item	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24	Q3 FY24	Q2 FY24	Q1 FY24	Q4 FY23	Q3 FY23	Q2 FY23	Q1 FY23	Q4 FY22	Q3 FY22	Q2 FY22	Q1 FY22	Q4 FY21	Q3 FY21	Q2 FY21	Q1 FY21	Q4 FY20	Q3 FY20	Q2 FY20	Q1 FY20	Q4 FY19	Q3 FY19	Q2 FY19	Q1 FY19	Q4 FY17	Q3 FY17
Integrated Senior Health Campuses	512.9M	502.7M	467.0M	449.7M	429.4M	428.7M	423.3M	409.6M	393.8M	393.1M	385.0M	372.3M	362.9M	361.8M	357.3M	328.8M	287.6M	281.0M	271.3M	265.3M	255.8M	233.2M	–	–	–	–	–	–	–	–	–	–
Shop	121.6M	107.0M	97.0M	82.3M	71.9M	68.5M	73.5M	67.2M	64.2M	59.0M	48.3M	43.9M	47.8M	46.9M	41.3M	39.6M	38.6M	38.0M	36.4M	21.5M	20.5M	19.8M	–	–	–	–	–	–	–	–	–	–
Outpatient Medical	30.0M	30.8M	30.4M	31.2M	31.3M	33.2M	33.3M	33.7M	33.7M	34.1M	–	–	–	37.5M	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Medical Office Building	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	16.3M	16.3M	16.6M	16.3M	15.7M	14.1M	13.2M	11.5M	–	6.3M
Triple-Net Leased Properties	9.7M	10.2M	9.6M	9.7M	10.0M	10.2M	12.6M	13.3M	12.9M	13.3M	–	–	–	6.1M	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Senior Housing-RIDEA	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	16.8M	16.1M	–	11.9M	11.5M	10.7M	–	–
Skilled Nursing Facilities	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	3.0M	3.0M	3.0M	3.0M	4.9M	2.9M	3.0M	842.0K	–	–
Senior Housing	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	2.2M	2.2M	2.3M	2.2M	707.0K	2.2M	2.7M	2.8M	–	2.2M

American Healthcare Reit revenue by business segment, last 4 quarters

Business segment	Q2 FY26	Q1 FY26	Q3 FY25	Q2 FY25	Share
Integrated Senior Health Campuses	$512.9M	$502.7M	$449.7M	$429.4M	76%
SHOP	$121.6M	$107.0M	$82.3M	$71.9M	18%
Outpatient Medical	$30.0M	$30.8M	$31.2M	$31.3M	4%
Triple-Net Leased Properties	$9.7M	–	–	$10.0M	1%

In USD, fiscal quarters as reported; share = part of Q2 FY26 revenue.

American Healthcare Reit revenue by region, last 4 quarters

Region	Q2 FY26	Q1 FY26	Q3 FY25	Q2 FY25	Share
United States	$672.6M	$649.1M	$571.3M	$540.9M	100%
Non-US	$1.7M	$1.7M	–	$1.6M	under 1%

In USD, fiscal quarters as reported; share = part of Q2 FY26 revenue.

American Healthcare Reit revenue by customer type, last 4 quarters

Customer type	Q3 FY23	Q2 FY23	Q3 FY22	Q2 FY22	Share
Private and Other Payors	$219.2M	$210.2M	$187.5M	$173.1M	53%
Medicare	$113.7M	$118.0M	$112.5M	$93.7M	27%
Medicaid	$83.3M	$82.5M	$68.2M	$59.5M	20%

In USD, fiscal quarters as reported; share = part of Q3 FY23 revenue.

Questions and answers

What are American Healthcare Reit's business segments?

Integrated Senior Health Campuses, SHOP, Outpatient Medical and Triple-Net Leased Properties (as reported for Q2 fiscal 2026).

Which business segment makes the most money for American Healthcare Reit?

Integrated Senior Health Campuses: $512.88 million, or 76% of revenue, in Q2 fiscal 2026.

Where does American Healthcare Reit make its money?

By region in Q2 fiscal 2026: United States (100%) and Non-US (under 1%).

MoreAmerican Healthcare Reit stock overview American Healthcare Reit financials American Healthcare Reit executive team American Healthcare Reit shareholders

Disclaimer: This analysis is for informational and educational purposes only and does not constitute financial, investment, tax, or legal advice. Data may be incomplete, delayed, or contain inaccuracies. Consult with a qualified financial advisor before making any investment decisions.