Gladstone Commercial (GOOD) Financial Statements & Analysis

Gladstone Commercial (GOOD) Income Statement

Gladstone Commercial reported revenue of $161.34M in fiscal 2025 (fiscal year ended Dec 31, 2025), up 8.0% from $149.39M a year earlier. Net income was $19.29M, down 19.6% year over year, a net margin of 12.0%. Gross margin was 78.1% and operating margin 36.2%. In the most recent quarter, Q2 fiscal 2026 (ended Jun 30, 2026), revenue was $43.99M, up 11.3% from the same quarter a year earlier.

Gladstone Commercial Income Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Gladstone Commercial Corporation income statement - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Revenue & Gross Profit
Revenue	161.34	149.39	147.58	148.98	137.69	133.15	114.39	106.80	94.80
Cost of Revenue	35.27	31.53	32.24	33.16	32.98	31.65	17.77	16.51	7.69
Gross Profit	126.07	117.86	121.73	115.82	104.71	101.50	96.62	95.34	87.11
Operating Expenses
Research & Development	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Selling, General & Administrative	6.62	6.45	13.09	5.57	4.67	4.86	4.93	12.06	3.64
Operating Expenses	67.63	66.72	64.57	70.99	68.67	64.58	60.65	54.63	48.86
Operating Income	58.44	51.14	108.63	44.83	36.03	36.92	35.97	35.66	33.30
Other Income/Expense
Interest Income	0.50	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Interest Expense	41.91	37.40	37.33	32.46	26.89	26.80	28.28	26.17	24.57
Other Income/Expense	2.77	-27.10	-37.13	-34.04	1.75	-21.93	-26.43	-23.34	-27.36
Income
Income Before Tax	19.29	24.04	4.92	10.78	10.90	14.99	9.54	12.32	5.94
Income Tax Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	2.84	24.62
Net Income	19.29	24.00	-7.74	10.81	10.94	14.94	9.63	12.32	5.94
Net Income - Continuous Operations	19.29	24.00	4.99	10.81	10.90	14.94	9.63	12.32	5.94
Net Income - Discontinued Operations	-	-	-	-	-	-	-	-	-
EBITDA	119.48	117.23	101.30	103.42	96.97	97.26	89.91	83.28	73.30
EBIT	61.21	53.40	50.78	44.83	37.78	-	-	-	-
Depreciation & Amortization	58.25	55.79	50.53	60.18	59.15	55.48	52.09	71.12	42.80
Earnings Per Share
Basic EPS	-	-	-	-	-	-	-	-	-
Diluted EPS	-	-	-	-	-	-	-	-	-
Basic Shares Outstanding	46.54	41.77	39.94	39.26	36.54	34.58	30.70	28.68	26.00
Diluted Shares Outstanding	46.54	41.77	39.94	39.26	36.54	34.58	30.70	28.68	26.36

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Gladstone Commercial Financial Statements

What was Gladstone Commercial's revenue in fiscal 2025?

Gladstone Commercial reported revenue of $161.34M in fiscal 2025 (fiscal year ended Dec 31, 2025). That was up 8.0% from $149.39M a year earlier.

Is Gladstone Commercial profitable?

Yes. Gladstone Commercial earned net income of $19.29M in fiscal 2025, a net margin of 12.0%. In fiscal 2024 it earned $24.00M.

What is Gladstone Commercial's operating margin?

Gladstone Commercial's operating income was $58.44M on revenue of $161.34M in fiscal 2025, an operating margin of 36.2%, compared with 34.2% a year earlier.

What is net profit margin?

Net profit margin is net income divided by revenue. It shows how much of each dollar of sales a company keeps as profit after all costs, interest and taxes. Full definition