Company: LANDO
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001495240-25-000028
Chunk: 17

Company: GLADSTONE LAND Corp
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 1
Chunk 17
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001 par value, $25.00 per share liquidation preference; 15,997,000 shares authorized, 251,036 shares issued and outstanding as of September 30, 2025; 15,998,400 shares authorized, 252,436 shares issued and outstanding as of December 31, 2024— — Common stock, $0.001 par value; 48,361,320 shares authorized, 36,307,401 shares issued and outstanding as of September 30, 2025; 48,359,920 shares authorized, 36,184,658 shares issued and outstanding as of December 31, 202436 36 Additional paid-in capital855,152 854,059 Distributions in excess of accumulated earnings(198,459)(174,561)Accumulated other comprehensive income5,049 7,632 Total Equity661,794 687,182 TOTAL LIABILITIES AND EQUITY$1,225,778 $1,312,195 

The accompanying notes are an integral part of these condensed consolidated financial statements.

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Table of Contents

GLADSTONE LAND CORPORATION AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME

(In thousands, except share and per-share data)

(Unaudited)

 For the Three Months Ended September 30,For the Nine Months Ended September 30, 2025202420252024OPERATING REVENUES:Lease revenue, net$17,736 $22,571 $46,835 $63,667 Other operating revenue49 — 50 453 Total operating revenues17,785 22,571 46,885 64,120 OPERATING EXPENSES:Depreciation and amortization8,395 8,805 25,198 26,407 Property operating expenses1,383 1,380 3,753 3,476 Base management fee1,992 2,070 6,040 6,303 Incentive fee— 109 — 109 Administration fee650 683 1,863 1,839 General and administrative expenses556 655 1,760 1,992 Impairment charge316 2,106 316 2,106 Total operating expenses13,292 15,808 38,930 42,232