Maui Land & Pineapple posts FY 2024 net loss of $7.4M; operating revenue up 25% to $11.6M

MAUI LAND & PINEAPPLE CO INC

Net loss of $7.4M ($0.38/share) vs $3.1M ($0.15) in 2023, driven by non-cash stock compensation.
Operating revenue rose 25% to $11.6M, led by leasing (+14% to $9.6M) and resort amenities (+72%).
Adjusted EBITDA turned positive at $492,000 vs ($662,000) in 2023; cash and investments $9.5M, up $0.7M.
Company administering $35.5M state-funded Honokeana Homes relief housing project, recognizing revenue without profit.

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