<span item_type="fundamental" item_id="a39bebd98adcaeaeb133e127ac563fe7" counter_id="ST/US/GOODN" env="prod"></span><span item_type="announcement" item_id="617585918521253249" env="prod"></span><p>Revenue: As of FY2025 Q4, the actual value is USD 43.46 M.</p><p>EPS: As of FY2025 Q4, the actual value is USD 0.05.</p><p>EBIT: As of FY2025 Q4, the actual value is USD 17.09 M.</p><p></p><h3>Financial Performance for Q4 2025 vs. Q3 2025</h3><h4>Operating Data</h4><ul><li>Total operating revenue increased by $2,620 thousand (6.4%) to $43,461 thousand from $40,841 thousand. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1234006/000123400626000006/a2025pressreleaseex9911231.htm"></span></li><li>Total operating expenses were - $26,367 thousand, a 1.3% increase from - $26,021 thousand. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1234006/000123400626000006/a2025pressreleaseex9911231.htm"></span></li><li>Other expense, net, increased by $1,029 thousand (9.6%) to - $11,712 thousand from - $10,683 thousand. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1234006/000123400626000006/a2025pressreleaseex9911231.htm"></span></li><li>Net income rose by $1,245 thousand (30.1%) to $5,382 thousand from $4,137 thousand. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1234006/000123400626000006/a2025pressreleaseex9911231.htm"></span></li><li>Net income available to common stockholders and Non-controlling OP Unitholders increased by $1,254 thousand (127.6%) to $2,237 thousand from $983 thousand. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1234006/000123400626000006/a2025pressreleaseex9911231.htm"></span></li><li>Real estate depreciation and amortization increased by $211 thousand (1.4%) to $15,482 thousand from $15,271 thousand. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1234006/000123400626000006/a2025pressreleaseex9911231.htm"></span></li><li>Loss on sale of real estate, net, was $0 thousand, a -100.0% change from $10 thousand. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1234006/000123400626000006/a2025pressreleaseex9911231.htm"></span></li></ul><h4>Funds From Operations (FFO) and Core FFO</h4><ul><li>Basic FFO available to common stockholders and Non-controlling OP Unitholders was $17,719 thousand, an 8.9% increase from $16,264 thousand. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1234006/000123400626000006/a2025pressreleaseex9911231.htm"></span></li><li>Diluted FFO available to common stockholders and Non-controlling OP Unitholders was $17,821 thousand, an 8.9% increase from $16,366 thousand. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1234006/000123400626000006/a2025pressreleaseex9911231.htm"></span></li><li>Basic Core FFO available to common stockholders and Non-controlling OP Unitholders was $17,755 thousand, an 8.9% increase from $16,298 thousand. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1234006/000123400626000006/a2025pressreleaseex9911231.htm"></span></li><li>Diluted Core FFO available to common stockholders and Non-controlling OP Unitholders was $17,857 thousand, an 8.9% increase from $16,400 thousand. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1234006/000123400626000006/a2025pressreleaseex9911231.htm"></span></li></ul><h4>Financial Position (as of December 31, 2025 vs. September 30, 2025)</h4><ul><li>Real estate, before accumulated depreciation, was $1,402,640 thousand, a 0.2% increase from $1,400,357 thousand. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1234006/000123400626000006/a2025pressreleaseex9911231.htm"></span></li><li>Total assets decreased by - $18,070 thousand (-1.4%) to $1,246,933 thousand from $1,265,003 thousand. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1234006/000123400626000006/a2025pressreleaseex9911231.htm"></span></li><li>Mortgage notes payable, net, borrowings under revolver, borrowings under term loan, net, and senior unsecured notes, net, increased by $181 thousand (0.0%) to $843,466 thousand from $843,285 thousand. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1234006/000123400626000006/a2025pressreleaseex9911231.htm"></span></li><li>Total equity and mezzanine equity decreased by - $13,066 thousand (-3.7%) to $341,933 thousand from $354,999 thousand. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1234006/000123400626000006/a2025pressreleaseex9911231.htm"></span></li></ul><h4>Operational Metrics (as of December 31, 2025 vs. September 30, 2025)</h4><ul><li>Properties owned remained at 151. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1234006/000123400626000006/a2025pressreleaseex9911231.htm"></span></li><li>Square feet owned remained at 17,675,963. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1234006/000123400626000006/a2025pressreleaseex9911231.htm"></span></li><li>Square feet leased remained at 99.1%. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1234006/000123400626000006/a2025pressreleaseex9911231.htm"></span></li></ul><h3>Financial Performance for Year Ended 2025 vs. Year Ended 2024</h3><h4>Operating Data</h4><ul><li>Total operating revenue increased by $11,948 thousand (8.0%) to $161,336 thousand from $149,388 thousand. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1234006/000123400626000006/a2025pressreleaseex9911231.htm"></span></li><li>Total operating expenses were - $101,389 thousand, a -1.4% change from - $102,808 thousand. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1234006/000123400626000006/a2025pressreleaseex9911231.htm"></span></li><li>Other expense, net, increased by - $18,115 thousand (80.4%) to - $40,655 thousand from - $22,540 thousand. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1234006/000123400626000006/a2025pressreleaseex9911231.htm"></span></li><li>Net income decreased by - $4,748 thousand (-19.8%) to $19,292 thousand from $24,040 thousand. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1234006/000123400626000006/a2025pressreleaseex9911231.htm"></span></li><li>Net income available to common stockholders and Non-controlling OP Unitholders decreased by - $4,569 thousand (-40.9%) to $6,597 thousand from $11,166 thousand. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1234006/000123400626000006/a2025pressreleaseex9911231.htm"></span></li><li>Real estate depreciation and amortization increased by $2,459 thousand (4.4%) to $58,245 thousand from $55,786 thousand. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1234006/000123400626000006/a2025pressreleaseex9911231.htm"></span></li><li>Impairment charge was $9 thousand, a -99.9% change from $6,822 thousand. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1234006/000123400626000006/a2025pressreleaseex9911231.htm"></span></li><li>Gain on sale of real estate, net, was - $367 thousand, a -97.4% change from - $14,229 thousand. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1234006/000123400626000006/a2025pressreleaseex9911231.htm"></span></li><li>Gain on debt extinguishment, net, was $0 thousand, a -100.0% change from - $300 thousand. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1234006/000123400626000006/a2025pressreleaseex9911231.htm"></span></li></ul><h4>Funds From Operations (FFO) and Core FFO</h4><ul><li>Basic FFO available to common stockholders and Non-controlling OP Unitholders was $64,484 thousand, an 8.8% increase from $59,245 thousand. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1234006/000123400626000006/a2025pressreleaseex9911231.htm"></span></li><li>Diluted FFO available to common stockholders and Non-controlling OP Unitholders was $64,890 thousand, an 8.8% increase from $59,665 thousand. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1234006/000123400626000006/a2025pressreleaseex9911231.htm"></span></li><li>Basic Core FFO available to common stockholders and Non-controlling OP Unitholders was $65,263 thousand, a 9.2% increase from $59,757 thousand. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1234006/000123400626000006/a2025pressreleaseex9911231.htm"></span></li><li>Diluted Core FFO available to common stockholders and Non-controlling OP Unitholders was $65,669 thousand, a 9.1% increase from $60,177 thousand. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1234006/000123400626000006/a2025pressreleaseex9911231.htm"></span></li></ul><h4>Financial Position (as of December 31, 2025 vs. December 31, 2024)</h4><ul><li>Real estate, before accumulated depreciation, was $1,402,640 thousand, a 15.0% increase from $1,219,918 thousand. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1234006/000123400626000006/a2025pressreleaseex9911231.htm"></span></li><li>Total assets increased by $152,585 thousand (13.9%) to $1,246,933 thousand from $1,094,348 thousand. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1234006/000123400626000006/a2025pressreleaseex9911231.htm"></span></li><li>Mortgage notes payable, net, borrowings under revolver, borrowings under term loan, net, and senior unsecured notes, net, increased by $150,081 thousand (21.6%) to $843,466 thousand from $693,385 thousand. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1234006/000123400626000006/a2025pressreleaseex9911231.htm"></span></li><li>Total equity and mezzanine equity increased by $591 thousand (0.2%) to $341,933 thousand from $341,342 thousand. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1234006/000123400626000006/a2025pressreleaseex9911231.htm"></span></li></ul><h4>Operational Metrics (as of December 31, 2025 vs. December 31, 2024)</h4><ul><li>Properties owned increased by 16 (11.9%) to 151 from 135. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1234006/000123400626000006/a2025pressreleaseex9911231.htm"></span></li><li>Square feet owned increased by 776,076 (4.6%) to 17,675,963 from 16,899,887. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1234006/000123400626000006/a2025pressreleaseex9911231.htm"></span></li><li>Square feet leased increased by 0.4% to 99.1% from 98.7%. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1234006/000123400626000006/a2025pressreleaseex9911231.htm"></span></li></ul><h3>Fiscal Year 2025 Highlights</h3><ul><li>Gladstone Commercial Corporation acquired 19 fully-occupied properties totaling 1,568,107 square feet for $206.7 million at an 8.88% weighted average cap rate. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1234006/000123400626000006/a2025pressreleaseex9911231.htm"></span></li><li>The company sold two non-core properties for $8.0 million and one non-core industrial property for $18.5 million as part of its capital recycling strategy. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1234006/000123400626000006/a2025pressreleaseex9911231.htm"></span></li><li>Gladstone Commercial Corporation collected 100% of its 2025 base rental charges and issued 4.4 million shares of common stock for $61.0 million in net proceeds. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1234006/000123400626000006/a2025pressreleaseex9911231.htm"></span></li><li>The credit facility was amended, extended, and upsized to $600.0 million, and $85.0 million in senior unsecured notes were issued at a fixed interest rate of 5.99%. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1234006/000123400626000006/a2025pressreleaseex9911231.htm"></span></li><li>The company leased 305,589 square feet of previously vacant space and renewed 884,327 square feet of leases. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1234006/000123400626000006/a2025pressreleaseex9911231.htm"></span></li><li>Cash dividends declared per common share and Non-controlling OP Unit for the year ended December 31, 2025, were $1.20. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1234006/000123400626000006/a2025pressreleaseex9911231.htm"></span></li></ul><h3>Outlook / Guidance</h3><p>Gladstone Commercial Corporation anticipates consistent performance and stabilized revenues, supported by accretive real estate investments and successful tenant renewals. The company plans to continue its capital recycling program, divesting non-core assets to acquire properties in target growth markets, with a focus on industrial investment opportunities. Despite economic challenges from inflation and interest rates, the company expects its strong tenant credit underwriting to help tenants navigate the current climate and anticipates continued access to debt and equity markets for liquidity. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1234006/000123400626000006/a2025pressreleaseex9911231.htm"></span></p>

Gladstone Commercial Pref Share GOOD 6.625 Prep 10/31/24 E | 8-K: FY2025 Q4 Revenue: USD 43.46 M