Gladstone Land Pref Share LANDO 6 Perp 06/01/22 B | 8-K: FY2025 Q2 Revenue: USD 12.3 M

Revenue: As of FY2025 Q2, the actual value is USD 12.3 M.

EPS: As of FY2025 Q2, the actual value is USD -0.38.

Segment Revenue

Total operating revenues for the second quarter of 2025 were $12.3 million, a decrease of 42.3% from $21.3 million in the same quarter of 2024.

Operational Metrics

Net loss for the quarter was $7.9 million, compared to $823,000 in the prior-year quarter, representing an increase of 857.2%. Net loss attributable to common stockholders was $13.9 million, or $0.38 per share, compared to $6.7 million, or $0.19 per share, in the prior-year quarter. Adjusted Funds from Operations (AFFO) for the quarter was - $3.5 million, or - $0.10 per share, compared to $3.7 million, or $0.10 per share, in the prior-year quarter.

Cash Flow

Cash flows from operations for the current quarter were $3.9 million, a decrease of 75.2% from $15.9 million in the prior-year quarter.

Unique Metrics

The company executed four lease agreements expected to increase annual net operating income by approximately $166,000, or 9.3%, compared to the prior leases. Participation rents decreased by approximately $975,000 due to accelerated recognition of certain revenue amounts in the prior year.

Outlook / Guidance

The company expects the majority of its revenue and annual earnings for 2025 to be recognized in the fourth quarter due to changes in lease agreements that increase reliance on participation rents. Market trends for pistachios and almonds, the crops to which the company is most exposed, appear mostly positive, with pistachio prices holding steady and almond prices rebounding. The company aims to return to standard lease structures with fixed base rents and may consider selling certain farms if satisfactory lease terms cannot be reached.