Comstock Q1 revenue up 18% to $10.3M; net income down on non-cash items

Comstock Holding Companies, Inc.

2023-Q1 EPS reported $0.07 revenue$10,275,000

Revenue $10.3M, up 18% YoY ($8.7M); asset management +9%, three property mgmt subsidiaries combined +37%.
Net income $0.7M vs $2.0M Q1 2022; includes $0.5M non-cash tax benefit from partial release of DTA.
Adjusted EBITDA $1.6M, essentially flat vs prior year ($1.6M).
Managed residential portfolio 93% leased (up from 84% Q1 2022); commercial 90% leased (up from 82%).
Executed ~100k sq ft of new commercial leases in Q1; Ebbitt House expansion to Reston Station.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Comstock Holding Companies, Inc. reported the first quarter ended March 31, 2023 results: revenue $10,275, net income 754, EPS $0.07.

Period: the first quarter ended March 31, 2023
Revenue: $10,275
Net income: 754
EPS: $0.07
Result: reported results

Exact text from the filing

Key Performance Metrics1 ($ in thousands, except per share and portfolio data) Q1 2023 Q1 2022 Revenue $ 10,275 $ 8,731 Income from operations $ 1,321 $ 1,365 Net income 754 2,014 2 Adjusted EBITDA $ 1,626 $ 1,606 Net income per share — diluted $ 0.07 $ 0.22 2 Managed Portfolio - # of assets 45 36

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Source: SEC EDGAR

accession 0001299969-23-000018

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