Gladstone Land Corporation · Q2 2025 earnings

Briefing

Gladstone Land Corporation reported a net loss for the second quarter of 2025 amid lower lease revenues.

The company posted total operating revenues of $12.3 million for the three months ended June 30, 2025, resulting in an operating loss of $0.2 million and a net loss attributable to common stockholders of $13.9 million, or $0.38 per share. Portfolio activity included sales of seven farms generating net gains, while same-property occupancy declined and certain leases were restructured with lower fixed rents in exchange for higher participation components. Cash and cash equivalents increased to $30.5 million as the company maintained compliance with all debt covenants.

• Q2 2025 total operating revenues fell 42% year-over-year to $12.3 million, driven by farm sales and lease restructurings that reduced fixed base rents.
• Net loss attributable to common stockholders widened to $13.9 million ($0.38 per share) from $6.7 million ($0.19 per share) in Q2 2024.
• The company sold seven farms in the first half of 2025 for aggregate net proceeds of $62.0 million, recognizing a $15.7 million net gain on those transactions.
• Owned portfolio stood at 150 farms encompassing 103,001 acres and 55,306 acre-feet of water assets, with 95.9% same-property occupancy at quarter end.

Headline financials

Revenue & EPS history

Management continues to monitor trade policy impacts on export crops and evaluate lease structures and sale options for vacant and direct-operated properties.