WHEELER REAL ESTATE INVT TR INC 9% CUM CONV PFD SER B | 10-Q: FY2025 Q1 Revenue: USD 24.35 M

Revenue: As of FY2025 Q1, the actual value is USD 24.35 M.

EPS: As of FY2025 Q1, the actual value is USD -22.41.

Segment Revenue

• Rental Revenues: $24,181 thousand for the three months ended March 31, 2025, compared to $25,695 thousand for the same period in 2024.
• Other Revenues: $173 thousand for the three months ended March 31, 2025, compared to $177 thousand for the same period in 2024.

Operational Metrics

• Net Income: $5,400 thousand for the three months ended March 31, 2025, compared to a net loss of $6,006 thousand for the same period in 2024.
• Operating Income: $12,142 thousand for the three months ended March 31, 2025, compared to $7,478 thousand for the same period in 2024.
• Depreciation and Amortization: $6,231 thousand for the three months ended March 31, 2025, compared to $6,598 thousand for the same period in 2024.
• Corporate General & Administrative Expenses: $2,732 thousand for the three months ended March 31, 2025, compared to $2,746 thousand for the same period in 2024.

Cash Flow

• Net Cash Provided by Operating Activities: $4,440 thousand for the three months ended March 31, 2025, compared to $5,234 thousand for the same period in 2024.
• Net Cash Provided by Investing Activities: $16,228 thousand for the three months ended March 31, 2025, compared to net cash used of $4,134 thousand for the same period in 2024.
• Net Cash Used in Financing Activities: $34,364 thousand for the three months ended March 31, 2025, compared to $2,393 thousand for the same period in 2024.

Unique Metrics

• Gain on Disposal of Properties: $5,688 thousand for the three months ended March 31, 2025, with properties sold including Oregon Avenue, South Lake, and Webster Commons.

Future Outlook and Strategy

• Core Business Focus: The company intends to continue opportunistically exchanging shares of its Common Stock for its Series B Preferred Stock and/or its Series D Preferred Stock with the holders thereof as an additional strategy to reduce the outstanding number of each security, enhance the Company’s financial stability, and optimize its capital allocation.
• Non-Core Business: The company plans to undertake measures to grow its operations and increase liquidity through delivering space currently leased but not yet occupied, backfilling vacant anchor spaces, replacing tenants who are in default of their lease terms, increasing future lease revenue through tenant improvements partially funded by restricted cash, disposition of non-core assets in the ordinary course of business, and refinancing properties.