Company: LANDO
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001495240-25-000021
Chunk: 13

Company: GLADSTONE LAND Corp
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 13
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0.001 par value, $25.00 per share liquidation preference; 15,997,600 shares authorized, 251,636 shares issued and outstanding as of June 30, 2025; 15,998,400 shares authorized, 252,436 shares issued and outstanding as of December 31, 2024— — Common stock, $0.001 par value; 48,360,720 shares authorized, 36,184,658 shares issued and outstanding as of June 30, 2025; 48,359,920 shares authorized, 36,184,658 shares issued and outstanding as of December 31, 202436 36 Additional paid-in capital854,037 854,059 Distributions in excess of accumulated earnings(189,474)(174,561)Accumulated other comprehensive income5,458 7,632 Total Equity670,073 687,182 TOTAL LIABILITIES AND EQUITY$1,258,585 $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 June 30,For the Six Months Ended June 30, 2025202420252024OPERATING REVENUES:Lease revenue, net$12,296 $21,270 $29,098 $41,096 Other operating revenue— 27 1 453 Total operating revenues12,296 21,297 29,099 41,549 OPERATING EXPENSES:Depreciation and amortization8,374 8,813 16,803 17,602 Property operating expenses1,242 1,219 2,370 2,096 Base management fee1,990 2,076 4,048 4,233 Capital gains fee credit(188)— — — Administration fee572 553 1,213 1,156 General and administrative expenses520 772 1,203 1,337 Total operating expenses12,510 13,433 25,637 26,424 OTHER (EXPENSE) INCOME:Other income267 497