Gladstone Land Q2 net loss $7.9M; AFFO negative $0.10; revenue down 42% on lease restructuring

GLADSTONE LAND Corp

2025-Q2 EPS reported -$0.13 vs consensus -$0.22 ▲ beat (+41.4%)

Net loss of $7.9M vs $823K in prior-year quarter; net loss per share $0.38.
AFFO per share negative $0.10 vs positive $0.10; cash from operations fell 75% to $3.9M.
Revenue dropped 42% to $12.3M due to lease modifications shifting fixed rents to participation rents, mostly recognized in Q4.
Debt activity: secured $10.6M loan at 6.31% to repay $10.3M maturing loan; repaid $10.4M bond.
Quarterly dividends flat at $0.1401/share; purchased 1,530 acre-feet of water for $583,000.

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