Company: LANDO
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001495240-25-000021
Chunk: 17

Company: GLADSTONE LAND Corp
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 17
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 StockCommon StockAdditionalPaid-in CapitalDistributionsin Excess ofAccumulatedEarningsAccumulatedOtherComprehensiveIncomeTotalEquityNo. ofSharesParValueNo. ofSharesParValueNo. ofSharesParValueNo. ofSharesParValueBalance at December 31, 20235,956,065$6 10,156,509$10 235,841$— 35,838,442$36 $856,206 $(144,011)$7,366 $719,613 Redemptions of Series B Preferred Stock, net(54,735)— —— —— —— (1,217)84 — (1,133)Redemptions of Series C Preferred Stock, net—— (86,042)— —— —— (1,952)190 — (1,762)Issuance of Series E Preferred Stock, net—— —— 12,140— —— 265 — — 265 Net income—— —— —— —— — 12,744 — 12,744 Dividends—cumulative redeemable preferred stock—— —— —— —— — (12,223)— (12,223)Distributions—OP Units and common stock—— —— —— —— — (10,010)— (10,010)Comprehensive income attributable to the Company—— —— —— —— — — 975 975 Balance at June 30, 20245,901,330$6 10,070,467$10 247,981$— 35,838,442$36 $853,302 $(153,226)$8,341 $708,469 

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

6

GLADSTONE LAND CORPORATION AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands)

(Unaudited)

 For the Six Months Ended June 30, 20252024CASH FLOWS FROM OPERATING ACTIVITIES:Net income$7,230 $12,744 Adjustments to reconcile net income to net cash provided by operating activities:Depreciation and amortization16,803 17,602 Amortization of debt issuance costs581 465 Amortization of deferred rent assets and liabilities, net