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Broadstone Net Lease, Inc.

For the period ended Sep 30, 2026. Filed Oct 28, 2026.

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About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Sep 30, 2026 · Filed Oct 28, 2026

BNL$17.51-1.2%Stored close · as of Nov 6, 2026
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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 10-Q

xQuarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

For the quarterly period ended September 30, 2026

oTransition report pursuant to section 13 or 15(d) of the Securities Exchange Act of 1934

Commission File Number 001-39529

BROADSTONE NET LEASE, INC.

(Exact name of registrant as specified in its charter)

Maryland26-1516177
(State or other jurisdiction ofincorporation or organization)(I.R.S. EmployerIdentification No.)
207 High Point DriveSuite 300Victor, New York14564
(Address of principal executive offices)(Zip Code)

(585)287-6500

(Registrant’s telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act:

Title of each classTradingSymbol(s)Name of each exchange on which registered
Common Stock, $0.00025 par valueBNLThe New York Stock Exchange

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15 (d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes x Noo

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes x Noo

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filerxAccelerated filero
Non-accelerated fileroSmaller reporting companyo
Emerging growth companyo

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yeso Nox

There were 191,984,139 shares of the Registrant's Common Stock, $0.00025 par value per share, outstanding as of October 23, 2026.

BROADSTONE NET LEASE, INC.

TABLE OF CONTENTS

Page
Part I - FINANCIAL INFORMATION1
Item 1.Financial Statements1
Condensed Consolidated Balance Sheets (Unaudited)1
Condensed Consolidated Statements of Income and Comprehensive Income (Unaudited)2
Condensed Consolidated Statements of Equity (Unaudited)3
Condensed Consolidated Statements of Cash Flows (Unaudited)5
Notes to the Condensed Consolidated Financial Statements (Unaudited)6
Item 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations29
Cautionary Note Regarding Forward-Looking Statements29
Regulation FD Disclosures29
Explanatory Note and Certain Defined Terms30
Overview30
Real Estate Portfolio Information34
Results of Operations41
Liquidity and Capital Resources46
Derivative Instruments and Hedging Activities50
Cash Flows50
Non-GAAP Measures51
Critical Accounting Policies and Estimates55
Impact of Recent Accounting Pronouncements55
Item 3.Quantitative and Qualitative Disclosures About Market Risk56
Item 4.Controls and Procedures56
Part II - OTHER INFORMATION57
Item 1.Legal Proceedings57
Item 1A.Risk Factors57
Item 2.Unregistered Sales of Equity Securities and Use of Proceeds57
Item 3.Defaults Upon Senior Securities57
Item 4.Mine Safety Disclosures57
Item 5.Other Information57
Item 6.Exhibits59
ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.