--- title: "Gladstone | 10-K: FY2025 Revenue Beats Estimate at USD 161.34 M" type: "News" locale: "zh-HK" url: "https://longbridge.com/zh-HK/news/276270138.md" datetime: "2026-02-18T21:05:42.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/276270138.md) - [en](https://longbridge.com/en/news/276270138.md) - [zh-HK](https://longbridge.com/zh-HK/news/276270138.md) --- > 支持的語言: [简体中文](https://longbridge.com/zh-CN/news/276270138.md) | [English](https://longbridge.com/en/news/276270138.md) # Gladstone | 10-K: FY2025 Revenue Beats Estimate at USD 161.34 M Revenue: As of FY2025, the actual value is USD 161.34 M, beating the estimate of USD 159.09 M. EPS: As of FY2025, the actual value is USD 0.14, beating the estimate of USD 0.1133. EBIT: As of FY2025, the actual value is USD 101.86 M. #### Operational Metrics As of February 18, 2026, Gladstone Commercial Corporation owned 151 properties with a total rentable space of 17.7 million square feet across 27 states. The occupancy rate was 99.1% as of February 18, 2026, and December 31, 2025, with an average remaining lease term of 7.3 years for the portfolio as of February 18, 2026. - **Lease Revenue**: In 2025, lease revenue was $161,336 thousand, an 8.0% increase from $149,388 thousand in 2024. - **Net Income**: Net income decreased by -19.8% to $19,292 thousand in 2025 from $24,040 thousand in 2024. - **Property Operating Expenses**: Property operating expenses increased by 12.6% to $28,625 thousand in 2025 from $25,418 thousand in 2024. - **Depreciation and Amortization**: Depreciation and amortization increased by 4.4% to $58,245 thousand in 2025 from $55,786 thousand in 2024. - **Impairment Charge**: The impairment charge significantly decreased by -99.9% to $9 thousand in 2025 from $6,822 thousand in 2024. - **Interest Expense**: Interest expense increased by 12.1% to - $41,914 thousand in 2025 from - $37,395 thousand in 2024. - **Gain on Sale of Real Estate, net**: Gain on sale of real estate, net, decreased by -97.4% to $367 thousand in 2025 from $14,229 thousand in 2024. - **FFO available to common stockholders and Non-controlling OP Unitholders - basic**: FFO increased by 8.8% to $64,484 thousand in 2025 from $59,245 thousand in 2024. #### Unique Metrics The weighted average yield on the total portfolio was 8.5% in 2025, compared to 8.6% in 2024. - **Tenant Industry Concentration (as of December 31, 2025)**: Automotive represented 15.2% of lease revenue, Diversified/Conglomerate Services 12.6%, Buildings and Real Estate 9.6%, and Telecommunications 8.7%. - **Acquisition Activity (2025)**: Gladstone Commercial Corporation acquired 19 industrial properties totaling 1,568,107 square feet for an aggregate purchase price of $207,905 thousand, with an 8.88% weighted average capitalization rate and a 15.9-year weighted average lease term at acquisition. - **Leasing Activity (2025)**: The company executed 16 lease extensions/modifications covering 1,189,916 square feet, with aggregate annualized GAAP fixed lease payments of $15,860 thousand. - **Sale Activity (2025)**: Two properties, totaling 116,000 square feet, were sold for an aggregate sales price of $8,025 thousand, resulting in an aggregate net gain on sale of real estate of $367 thousand. #### Cash Flow - **Net Cash Provided by Operating Activities**: Net cash provided by operating activities was $88,151 thousand in 2025, up from $56,953 thousand in 2024. - **Net Cash Used in Investing Activities**: Net cash used in investing activities was - $221,377 thousand in 2025, compared to - $1,727 thousand in 2024. - **Net Cash Provided by Financing Activities**: Net cash provided by financing activities was $134,743 thousand in 2025, a change from - $56,287 thousand in 2024. #### Outlook / Guidance Gladstone Commercial Corporation anticipates that business conditions will remain generally consistent with those experienced in Q4 2025, with interest rates, access to debt capital, and transaction activity serving as key influencing factors. The company believes its current cash on hand and Credit Facility availability are sufficient to meet near-term debt obligations, cover operating expenses, and support its industrial property-focused growth strategy. Furthermore, its lease expiration schedule for 2026, which represents 11.8% of annual lease revenue, is considered manageable. ### 相關股票 - [Gladstone (GOOD.US)](https://longbridge.com/zh-HK/quote/GOOD.US.md) ## 相關資訊與研究 - [A $185 cookware set I bought from Costco in late 2024 has become my personal tariff impact tracker](https://longbridge.com/zh-HK/news/281706632.md) - [Sri Lotus Developers Grants 1.2 Million ESOPs Under 2024 Scheme](https://longbridge.com/zh-HK/news/281348606.md) - [Drift Protocol $280M exploit took 'months of deliberate preparation'](https://longbridge.com/zh-HK/news/281703440.md) - [BUZZ-Soleno jumps on report of potential $2.5 billion Nuerocrine deal](https://longbridge.com/zh-HK/news/281745771.md) - [How TBPN went from nerdy online talkshow to splashy OpenAI acquisition](https://longbridge.com/zh-HK/news/281663652.md)