Gladstone Commercial Corp
NASDAQ:GOOD
Income Statement
Earnings Waterfall
Gladstone Commercial Corp
Revenue
|
147.6m
USD
|
Cost of Revenue
|
-31.9m
USD
|
Gross Profit
|
115.6m
USD
|
Operating Expenses
|
-64.9m
USD
|
Operating Income
|
50.8m
USD
|
Other Expenses
|
-58.5m
USD
|
Net Income
|
-7.7m
USD
|
Income Statement
Gladstone Commercial Corp
Dec-2013 | Mar-2014 | Jun-2014 | Sep-2014 | Dec-2014 | Mar-2015 | Jun-2015 | Sep-2015 | Dec-2015 | Mar-2016 | Jun-2016 | Sep-2016 | Dec-2016 | Mar-2017 | Jun-2017 | Sep-2017 | Dec-2017 | Mar-2018 | Jun-2018 | Sep-2018 | Dec-2018 | Mar-2019 | Jun-2019 | Sep-2019 | Dec-2019 | Mar-2020 | Jun-2020 | Sep-2020 | Dec-2020 | Mar-2021 | Jun-2021 | Sep-2021 | Dec-2021 | Mar-2022 | Jun-2022 | Sep-2022 | Dec-2022 | Mar-2023 | Jun-2023 | Sep-2023 | Dec-2023 | ||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Revenue | ||||||||||||||||||||||||||||||||||||||||||
Revenue |
61
N/A
|
64
+5%
|
69
+6%
|
71
+4%
|
74
+3%
|
77
+4%
|
79
+3%
|
81
+3%
|
84
+3%
|
85
+2%
|
86
+1%
|
86
+0%
|
86
+0%
|
87
+1%
|
89
+2%
|
92
+3%
|
95
+4%
|
99
+4%
|
103
+4%
|
105
+2%
|
107
+2%
|
109
+2%
|
110
+1%
|
112
+2%
|
114
+2%
|
120
+5%
|
125
+4%
|
130
+4%
|
133
+3%
|
134
+1%
|
134
0%
|
135
+1%
|
138
+2%
|
139
+1%
|
142
+2%
|
147
+4%
|
149
+1%
|
150
+1%
|
152
+2%
|
149
-2%
|
148
-1%
|
|
Gross Profit | ||||||||||||||||||||||||||||||||||||||||||
Cost of Revenue |
(5)
|
(6)
|
(7)
|
(8)
|
(7)
|
(7)
|
(7)
|
(8)
|
(8)
|
(9)
|
(10)
|
(10)
|
(9)
|
(10)
|
(10)
|
(11)
|
(12)
|
(14)
|
(15)
|
(15)
|
(16)
|
(16)
|
(16)
|
(17)
|
(17)
|
(21)
|
(24)
|
(28)
|
(31)
|
(32)
|
(32)
|
(33)
|
(33)
|
(33)
|
(33)
|
(33)
|
(33)
|
(33)
|
(33)
|
(33)
|
(32)
|
|
Gross Profit |
56
N/A
|
58
+4%
|
61
+5%
|
64
+4%
|
66
+4%
|
69
+4%
|
72
+3%
|
73
+3%
|
75
+3%
|
76
+1%
|
76
+0%
|
76
+0%
|
77
+1%
|
77
+0%
|
79
+2%
|
81
+2%
|
83
+3%
|
85
+3%
|
88
+3%
|
89
+2%
|
91
+2%
|
93
+2%
|
94
+1%
|
95
+2%
|
97
+2%
|
99
+2%
|
101
+2%
|
102
+1%
|
102
0%
|
103
+1%
|
102
-1%
|
103
+1%
|
105
+2%
|
106
+1%
|
109
+3%
|
114
+5%
|
116
+2%
|
117
+1%
|
120
+2%
|
116
-3%
|
116
0%
|
|
Operating Income | ||||||||||||||||||||||||||||||||||||||||||
Operating Expenses |
(27)
|
(28)
|
(31)
|
(33)
|
(34)
|
(36)
|
(38)
|
(40)
|
(41)
|
(42)
|
(42)
|
(43)
|
(44)
|
(44)
|
(45)
|
(47)
|
(49)
|
(51)
|
(53)
|
(54)
|
(55)
|
(57)
|
(58)
|
(60)
|
(61)
|
(64)
|
(64)
|
(65)
|
(65)
|
(71)
|
(68)
|
(69)
|
(70)
|
(66)
|
(70)
|
(71)
|
(73)
|
(71)
|
(72)
|
(68)
|
(65)
|
|
Selling, General & Administrative |
(7)
|
(8)
|
(9)
|
(9)
|
(9)
|
(9)
|
(9)
|
(8)
|
(9)
|
(7)
|
(6)
|
(6)
|
(7)
|
(6)
|
(6)
|
(6)
|
(7)
|
(7)
|
(7)
|
(7)
|
(8)
|
(8)
|
(8)
|
(9)
|
(9)
|
(9)
|
(10)
|
(10)
|
(10)
|
(9)
|
(10)
|
(10)
|
(10)
|
(11)
|
(11)
|
(11)
|
(11)
|
(10)
|
(9)
|
(8)
|
(7)
|
|
Depreciation & Amortization |
(23)
|
(25)
|
(26)
|
(28)
|
(29)
|
(30)
|
(32)
|
(34)
|
(35)
|
(36)
|
(36)
|
(37)
|
(38)
|
(38)
|
(39)
|
(40)
|
(43)
|
(44)
|
(46)
|
(47)
|
(48)
|
(49)
|
(50)
|
(51)
|
(52)
|
(53)
|
(55)
|
(56)
|
(55)
|
(58)
|
(58)
|
(59)
|
(60)
|
(58)
|
(59)
|
(60)
|
(62)
|
(61)
|
(63)
|
(60)
|
(58)
|
|
Other Operating Expenses |
3
|
4
|
4
|
4
|
3
|
3
|
3
|
3
|
3
|
1
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(4)
|
0
|
0
|
0
|
2
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Operating Income |
29
N/A
|
30
+2%
|
31
+3%
|
31
+1%
|
32
+3%
|
33
+3%
|
33
+1%
|
34
+1%
|
34
+1%
|
34
N/A
|
34
-1%
|
34
0%
|
33
-2%
|
33
N/A
|
34
+2%
|
34
+0%
|
33
-2%
|
34
+2%
|
34
+1%
|
35
+2%
|
36
+2%
|
36
0%
|
36
+0%
|
36
+0%
|
36
+1%
|
35
-3%
|
37
+6%
|
37
0%
|
37
+0%
|
32
-15%
|
34
+8%
|
34
-1%
|
35
+3%
|
39
+13%
|
39
-2%
|
43
+12%
|
43
+0%
|
46
+5%
|
47
+4%
|
48
+0%
|
51
+7%
|
|
Pre-Tax Income | ||||||||||||||||||||||||||||||||||||||||||
Interest Income Expense |
(27)
|
(28)
|
(28)
|
(29)
|
(29)
|
(29)
|
(30)
|
(30)
|
(31)
|
(31)
|
(30)
|
(29)
|
(27)
|
(26)
|
(25)
|
(24)
|
(25)
|
(25)
|
(25)
|
(26)
|
(26)
|
(27)
|
(28)
|
(28)
|
(28)
|
(28)
|
(28)
|
(27)
|
(27)
|
(27)
|
(26)
|
(27)
|
(27)
|
(26)
|
(27)
|
(29)
|
(33)
|
(35)
|
(37)
|
(37)
|
(37)
|
|
Non-Reccuring Items |
(1)
|
(15)
|
(15)
|
(16)
|
(10)
|
3
|
4
|
4
|
(1)
|
(1)
|
(1)
|
(2)
|
(2)
|
(6)
|
(6)
|
(4)
|
(7)
|
(3)
|
(3)
|
(3)
|
0
|
0
|
0
|
0
|
(2)
|
0
|
(4)
|
(5)
|
(4)
|
0
|
(2)
|
2
|
2
|
0
|
1
|
(12)
|
(12)
|
(12)
|
(18)
|
(14)
|
(16)
|
|
Gain/Loss on Disposition of Assets |
0
|
0
|
1
|
1
|
1
|
1
|
0
|
0
|
2
|
0
|
0
|
2
|
0
|
6
|
4
|
4
|
4
|
(0)
|
2
|
2
|
3
|
4
|
4
|
4
|
3
|
(0)
|
(0)
|
1
|
8
|
7
|
7
|
6
|
(1)
|
(0)
|
(0)
|
9
|
10
|
10
|
10
|
5
|
8
|
|
Total Other Income |
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
1
|
1
|
1
|
1
|
0
|
1
|
1
|
1
|
1
|
0
|
0
|
1
|
1
|
0
|
0
|
0
|
0
|
|
Pre-Tax Income |
2
N/A
|
(12)
N/A
|
(12)
+6%
|
(12)
-1%
|
(6)
+50%
|
8
N/A
|
8
-10%
|
7
-4%
|
4
-50%
|
4
+4%
|
4
+12%
|
4
+1%
|
4
-5%
|
7
+87%
|
7
-3%
|
10
+34%
|
6
-39%
|
6
+5%
|
8
+30%
|
8
+4%
|
12
+47%
|
12
+1%
|
12
-3%
|
12
-4%
|
10
-18%
|
7
-25%
|
6
-17%
|
7
+11%
|
15
+129%
|
13
-15%
|
14
+9%
|
16
+12%
|
10
-38%
|
13
+35%
|
13
-4%
|
11
-14%
|
9
-15%
|
9
+1%
|
3
-66%
|
2
-31%
|
5
+126%
|
|
Net Income | ||||||||||||||||||||||||||||||||||||||||||
Tax Provision |
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Income from Continuing Operations |
2
|
(12)
|
(12)
|
(12)
|
(6)
|
8
|
8
|
7
|
4
|
4
|
4
|
4
|
4
|
7
|
7
|
10
|
6
|
6
|
8
|
8
|
12
|
12
|
12
|
12
|
10
|
7
|
6
|
7
|
15
|
13
|
14
|
16
|
10
|
13
|
13
|
11
|
9
|
9
|
3
|
2
|
5
|
|
Income to Minority Interest |
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(0)
|
(0)
|
(0)
|
0
|
0
|
0
|
0
|
0
|
(0)
|
(0)
|
(0)
|
0
|
0
|
(0)
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Net Income (Common) |
(3)
N/A
|
(17)
-486%
|
(16)
+4%
|
(16)
-1%
|
(11)
+35%
|
4
N/A
|
3
-26%
|
2
-17%
|
(2)
N/A
|
(1)
+8%
|
(1)
+16%
|
(2)
-82%
|
(4)
-75%
|
(2)
+59%
|
(3)
-92%
|
(1)
+67%
|
(5)
-400%
|
(5)
+0%
|
(3)
+35%
|
(3)
+7%
|
1
N/A
|
1
-3%
|
1
-31%
|
0
-69%
|
(5)
N/A
|
(7)
-49%
|
(8)
-18%
|
(8)
+6%
|
3
N/A
|
1
-74%
|
(0)
N/A
|
1
N/A
|
(5)
N/A
|
(1)
+72%
|
0
N/A
|
(1)
N/A
|
(3)
-107%
|
(3)
+1%
|
(9)
-209%
|
(10)
-12%
|
(8)
+25%
|
|
EPS (Diluted) |
-0.21
N/A
|
-1.09
-419%
|
-0.95
+13%
|
-0.91
+4%
|
-0.61
+33%
|
0.19
N/A
|
0.14
-26%
|
0.1
-29%
|
-0.07
N/A
|
-0.06
+14%
|
-0.05
+17%
|
-0.09
-80%
|
-0.16
-78%
|
-0.07
+56%
|
-0.12
-71%
|
-0.03
+75%
|
-0.19
-533%
|
-0.18
+5%
|
-0.11
+39%
|
-0.11
N/A
|
0.03
N/A
|
0.03
N/A
|
0.02
-33%
|
0.01
-50%
|
-0.16
N/A
|
-0.23
-44%
|
-0.24
-4%
|
-0.25
-4%
|
0.09
N/A
|
0.03
-67%
|
0.01
-67%
|
0.05
+400%
|
-0.12
N/A
|
-0.03
+75%
|
0.01
N/A
|
-0.04
N/A
|
-0.08
-100%
|
-0.08
N/A
|
-0.23
-188%
|
-0.26
-13%
|
-0.19
+27%
|