<span item_type="fundamental" item_id="ce66c48e558c411551ad7343460be4bd" counter_id="ST/US/GOOD" env="prod"></span><span item_type="announcement" item_id="513565261577653633" env="prod"></span><p>Revenue: As of FY2025 Q1, the actual value is USD 37.5 M, beating the estimate of USD 37.33 M.</p><p>EPS: As of FY2025 Q1, the actual value is USD 0.04, meeting the estimate of USD 0.04.</p><p></p><h3>Financial Metrics</h3><h4>Total Operating Revenue</h4><p>Total operating revenue for the three months ended March 31, 2025 was $37,501 thousand, a slight increase of 0.3% compared to $37,375 thousand for the three months ended December 31, 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1234006/000123400625000008/q12025pressrelease3312025.htm"></span></p><h4>Total Operating Expenses</h4><p>Total operating expenses decreased by 4.5% to $23,858 thousand for the three months ended March 31, 2025, compared to $24,974 thousand for the three months ended December 31, 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1234006/000123400625000008/q12025pressrelease3312025.htm"></span></p><h4>Net Income</h4><p>Net income for the three months ended March 31, 2025 was $5,136 thousand, a decrease of 28.6% compared to $7,193 thousand for the three months ended December 31, 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1234006/000123400625000008/q12025pressrelease3312025.htm"></span></p><h4>Funds from Operations (FFO)</h4><p>Funds from operations available to common stockholders and Non-controlling OP Unitholders - diluted for the three months ended March 31, 2025 was $15,261 thousand, a decrease of 0.2% compared to $15,286 thousand for the three months ended December 31, 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1234006/000123400625000008/q12025pressrelease3312025.htm"></span></p><h4>Core Funds from Operations (Core FFO)</h4><p>Core FFO available to common stockholders and Non-controlling OP Unitholders - diluted for the three months ended March 31, 2025 was $15,295 thousand, a decrease of 0.2% compared to $15,320 thousand for the three months ended December 31, 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1234006/000123400625000008/q12025pressrelease3312025.htm"></span></p><h4>Real Estate and Assets</h4><p>Real estate, before accumulated depreciation, increased by 5.6% to $1,287,663 thousand as of March 31, 2025, compared to $1,219,918 thousand as of December 31, 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1234006/000123400625000008/q12025pressrelease3312025.htm"></span> Total assets increased by 6.0% to $1,160,443 thousand as of March 31, 2025, compared to $1,094,348 thousand as of December 31, 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1234006/000123400625000008/q12025pressrelease3312025.htm"></span></p><h4>Debt and Equity</h4><p>Mortgage notes payable, net, borrowings under revolver, borrowings under term loan, net, and senior unsecured notes, net increased by 6.8% to $740,746 thousand as of March 31, 2025, compared to $693,385 thousand as of December 31, 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1234006/000123400625000008/q12025pressrelease3312025.htm"></span> Total equity and mezzanine equity increased by 3.5% to $353,393 thousand as of March 31, 2025, compared to $341,342 thousand as of December 31, 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1234006/000123400625000008/q12025pressrelease3312025.htm"></span></p><h3>Outlook / Guidance</h3><p>Gladstone Commercial anticipates continued challenges due to the lingering effects of the pandemic, inflation, and geopolitical issues but remains confident in tenant credit underwriting and expects tenants to navigate the current economic climate successfully.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1234006/000123400625000008/q12025pressrelease3312025.htm"></span> The company plans to continue its capital recycling program by selling non-core assets and reinvesting in target growth markets, particularly industrial properties.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1234006/000123400625000008/q12025pressrelease3312025.htm"></span> Despite economic uncertainty, Gladstone Commercial expects to maintain access to debt and equity markets for liquidity and anticipates positive outcomes from marketing vacant space.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1234006/000123400625000008/q12025pressrelease3312025.htm"></span></p>

Gladstone | 8-K: FY2025 Q1 Revenue Beats Estimate at USD 37.5 M