Revenue: As of FY2025 Q1, the actual value is USD 37.5 M.

EPS: As of FY2025 Q1, the actual value is USD 0.04.

Segment Revenue

• 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.

Operational Metrics

• 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.
• Net income available to common stockholders and Non-controlling OP Unitholders was $1,917 thousand, a decrease of 51.8% compared to $3,974 thousand for the three months ended December 31, 2024.
• Total operating expenses decreased by 4.5% to $23,858 thousand from $24,974 thousand.

Cash Flow

• Funds from operations available to common stockholders and Non-controlling OP Unitholders - basic was $15,160 thousand, a decrease of 0.1% compared to $15,182 thousand.
• Core funds from operations available to common stockholders and Non-controlling OP Unitholders - basic was $15,194 thousand, a decrease of 0.1% compared to $15,216 thousand.

Unique Metrics

• Real estate, before accumulated depreciation, increased by 5.6% to $1,287,663 thousand from $1,219,918 thousand.
• Total assets increased by 6.0% to $1,160,443 thousand from $1,094,348 thousand.

Outlook / Guidance

• Gladstone Commercial anticipates selling additional non-core assets over the next one to two years, which is expected to result in capital gains. The company plans to redeploy proceeds into stronger target growth markets, focusing on industrial investment opportunities. Despite economic uncertainties, Gladstone Commercial expects to continue accessing debt and equity markets for added liquidity.