Company: FVR
Filing Date: 2025-03-20
Form Type: 10-K
Source: 0000950170-25-042774
Chunk: 110

Company: FrontView REIT, Inc.
Filing Date: 2025-03-20
Form: 10-K
Item: Item 1B
Chunk 110
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 occurring in the future, (iii) eliminate the impact of lease termination fees from certain of our tenants, and (iv) exclude non-cash stock-based compensation expense. Annualized adjusted EBITDAre is calculated by multiplying adjusted EBITDAre for the applicable quarter by four, which we believe provides a meaningful estimate of our current run rate for all of our investments as of the end of the most 

58

recently completed quarter given the contractual nature of our long term net leases. You should not unduly rely on this measure as it is based on assumptions and estimates that may prove to be inaccurate. Our actual reported EBITDAre for future periods may be significantly different from our annualized adjusted EBITDAre. 

The following table reconciles net income (which is the most comparable to GAAP measure) to EBITDA, EBITDAre, adjusted EBITDAre, and annualized adjusted EBITDAre.

Reconciliation of net income to EBITDA and EBITDAre 

    Successor

    Combined Successor and Predecessor

    Predecessor

    Pro Forma

    Historical

    Historical

    (unaudited, in thousands)
     
    Three Months Ended December 31, 2024

    Three Months Ended December 31, 2024

    Three Months Ended December 31, 2023

    Net (loss) income
     
    $
    (22,009
    )
     
    $
    (21,488
    )
     
    $
    8,429

    Depreciation and amortization

    8,410

    7,634

    7,993

    Share of 50/50 Joint Venture's depreciation and   amortization

    —

    —

    122

    Interest expense

    4,517

    3,593

    6,498

    Share of 50/50 Joint Venture's interest expense

    —

    —

    130

    Income taxes

    236

    236

    110

    Share of 50/50 Joint Venture's income taxes

    —

    —

    2

    EBITDA
     
    $
    (8,846
    )
     
    $
    (10,025
    )
     
    $
    23,283

    Gain on sale of real estate

    —

    —

    (1,057