Zoned Properties FY2022 revenue up 46% to $2.66M, net loss widens to $574K; acquires MI property with 13.5% cap rate

Zoned Properties, Inc.

Revenue $2.66M (+46% YoY); net loss $574K vs $166K loss in 2021.
Cash from operations $872K (+78% YoY), 6th consecutive year positive.
Cash on hand $4.34M (Dec 2022) vs $842K (Sep 2022); $4.5M debt facility at 7.65% for property acquisitions.
Acquired Michigan cannabis retail property for $4.3M; 13.5% straight-line cap rate; $580K annual base rent.
Leased Chino Valley facility: base rent increased to $1.05M annually (+167%); tenant invested $8M+ in improvements.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

Zoned Properties, Inc. reported year ended December 31, 2022 results: revenue $2.66 million, net income $574,355.

Period: year ended December 31, 2022
Revenue: $2.66 million
Net income: $574,355
Result: reported results

Exact text from the filing

Revenues were $2.66 million for the year ended December 31, 2022, compared to revenues of $1.82 million for the year ended December 31, 2021, representing an increase of 46%.

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

Zoned Properties, Inc. reported quarter ended December 31, 2022 results: revenue $607,749.

Period: quarter ended December 31, 2022
Revenue: $607,749
Result: reported results

Exact text from the filing

Revenues were $607,749 for the quarter ended December 31, 2022, compared to $537,211 for the quarter ended December 31, 2021.

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Zoned Properties, Inc. filing history →

Source: SEC EDGAR

accession 0001213900-23-023411

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