Gladstone Commercial Corporation (GOOD) Financial Statements (2024 and earlier)

Company Profile

Business Address 1521 WESTBRANCH DRIVE
MCLEAN, VA 22102
State of Incorp. MD
Fiscal Year End December 31
Industry (SIC) 6519 - Lessors of Real Property, Not Elsewhere Classified (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

9/30/2023
MRQ
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments11,6537,95611,0166,8496,5916,683
Cash and cash equivalents11,6537,95611,0166,8496,5916,683
Total current assets:11,6537,95611,0166,8496,5916,683
Noncurrent Assets
Operating lease, right-of-use asset5,1315,3615,5825,794
Property, plant and equipment152,916149,773142,853137,532125,905121,783
Intangible assets, net (including goodwill)111,622114,494117,379115,465111,448118,927
Intangible assets, net (excluding goodwill)111,622114,494117,379115,465111,448118,927
Total noncurrent assets:269,669269,628265,814258,791237,353240,710
Other undisclosed assets920,187865,768821,078773,868694,831681,061
TOTAL ASSETS:1,201,5091,143,3521,097,9081,039,508938,775928,454
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Noncurrent Liabilities
Long-term debt and lease obligation359,389449,944456,177575,015515,975521,912
Long-term debt, excluding current maturities359,389449,944456,177575,015515,975521,912
Total noncurrent liabilities:359,389449,944456,177575,015515,975521,912
Other undisclosed liabilities467,494320,585266,408101,30382,78356,312
Total liabilities:826,883770,529722,585676,318598,758578,224
Temporary equity, carrying amount170,056170,261159,286152,15385,59883,432
Equity
Equity, attributable to parent, including:202,780201,303213,183208,134249,744266,798
Preferred stock1   22
Common stock393735322928
Additional paid in capital721,327671,134626,533571,205559,977534,790
Accumulated other comprehensive income (loss)11,640(1,346)(4,345)(2,126)(148)35
Other undisclosed equity, attributable to parent(530,227)(468,522)(409,040)(360,977)(310,116)(268,057)
Equity, attributable to noncontrolling interest1,7901,2592,8542,9034,675 
Total equity:204,570202,562216,037211,037254,419266,798
TOTAL LIABILITIES AND EQUITY:1,201,5091,143,3521,097,9081,039,508938,775928,454

Income Statement (P&L) ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues148,981137,688133,152114,387106,79894,799
Operating leases, income statement, lease revenue103,268
Revenue, net94,799
Gross profit:148,981137,688133,152114,387106,79894,799
Operating expenses(117,758)(102,800)(99,855)(80,231)(71,137)(68,337)
Operating income:31,22334,88833,29734,15635,66126,462
Nonoperating expense(21,951)(25,155)(18,312)(24,615)(23,337)(20,525)
Interest and debt expense(32,457)(26,887)(26,803)(28,279)(26,172)(24,570)
Loss from continuing operations:(23,185)(17,154)(11,818)(18,738)(13,848)(18,633)
Loss before gain (loss) on sale of properties:(17,154)(11,818)(18,738)(13,848)(18,633)
Other undisclosed net income32,45726,88726,80328,27926,172 
Net income (loss):9,2729,73314,9859,54112,324(18,633)
Net income (loss) attributable to noncontrolling interest2340(47)87(4) 
Other undisclosed net income attributable to parent      24,570
Net income attributable to parent:9,2959,77314,9389,62812,3205,937
Preferred stock dividends and other adjustments(11,866)(11,488)(10,973)(10,822)(10,416)(9,890)
Other undisclosed net loss available to common stockholders, basic(468)(2,839)(816)(3,566)(931)(986)
Net income (loss) available to common stockholders, diluted:(3,039)(4,554)3,149(4,760)973(4,939)

Comprehensive Income ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net income (loss):9,2729,73314,9859,54112,324(18,633)
Other comprehensive income (loss)12,1152,854(2,219)(1,978)(183)35
Other undisclosed comprehensive income      24,570
Comprehensive income:21,38712,58712,7667,56312,1415,972
Comprehensive income (loss), net of tax, attributable to noncontrolling interest2340(47)87(4) 
Comprehensive income, net of tax, attributable to parent:21,41012,62712,7197,65012,1375,972

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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