$CLPR Clipper Realty Inc. | Understand Stock

What Do They Do?

Owns and rents apartments, office space and retail space to residents, commercial tenants and public agencies in Manhattan and Brooklyn.

How Do They Make Money?

Clipper earns rent from residents and commercial and retail tenants for apartments and other leased space. Apartment and parking rent is earned during the rental period, while commercial rent is spread across the lease term; commercial tenants also reimburse certain operating costs when incurred.

revenue

Segment	Share	Revenue	How money arrives
Residential Rental Recurring	78% FY2022: 70%		Recurring
Commercial Real Estate Recurring	22% FY2022: 30%		Recurring

Who Are Their Customers?

Residents rent apartments; commercial and retail tenants include businesses and City of New York agencies.

Customers above 10% of revenue, FY2025

of revenue from one customer

FY2024: 22% from one customer

Do Revenues Turn Into Profits?

No. It lost $52.3M in FY2025.

Operating income, FY2025

3% of revenue

▼ −90% vs FY2024 ($40.5M, 27%)

Net income, FY2025

−34% of revenue

▲ +695% (Loss) vs FY2024 (−$6.6M, −4%)

How Are They Changing?

Since the FY2025 annual report

Latest quarter: Q2 FY2026, the three months to Jun 30, 2026

Revenue: ▼ −1%; vs $39M in Q2 FY2025
Net income: ▲ +362% (Loss); vs −$1.4M in Q2 FY2025

Residential Rental share of revenue vs 74.4% in Q2 FY2025

Growing. Revenue grew 25% in 4 years, from $122.7M in FY2021 to $153.2M in FY2025, about 6% a year.

Revenue over time

Residential Rental Commercial Real Estate

$200M$100M$0

FY2021 FY2022 FY2023 FY2024 FY2025