CINCINNATI, July 23, 2025 (GLOBE NEWSWIRE) -- Mobile Infrastructure Corporation [Nasdaq: BEEP], owners of a diversified portfolio of parking assets throughout the United States, will issue its second quarter 2025 earnings release after the U.S. market closes on Tuesday, August 12, 2025. You are invited to participate in the Company’s conference call hosted by senior management on Tuesday, August 12, 2025, at 4:30 PM Eastern Time. Q2 2025 Conference Call Date & Time:Tuesday, August 12, 2025, at 4:30 PM Easte ...

Financial Data and Key Metrics Changes - The company is executing a multi-year strategic plan focused on streamlining its portfolio and strengthening its balance sheet, which includes the targeted recycling of up to $100 million in non-core assets [14] Business Line Data and Key Metrics Changes - No specific data on individual business lines was provided in the meeting [14] Market Data and Key Metrics Changes - No specific market data or key metrics changes were discussed during the meeting [14] Company Strategy and Development Direction - The company is realigning its leadership structure to ensure the right skill sets are focused on the right priorities, with Stephanie Hoag set to assume the role of CEO and President effective August 1, 2025 [14][15] - The transition aims to strengthen the foundation of the company and sharpen its focus on capital rotation strategy and operational execution [15][16] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the leadership transition as a positive step for the company and its shareholders, emphasizing the importance of sustainable value delivery [15][16] Other Important Information - The meeting included the election of directors, with no questions submitted regarding the proposals [10][11] Q&A Session Summary Question: Were there any questions submitted regarding the proposals? - No questions on the proposal have been submitted [11]

Revenue Performance - For the three months ended March 31, 2025, managed property revenue increased by 19.0% to $6,545,000 compared to $5,501,000 in the same period of 2024[103]. - Total revenues decreased by 6.7% to $8,235,000 for the three months ended March 31, 2025, down from $8,827,000 in 2024, primarily due to nonrecurring revenue from lease agreements converted to management contracts[104]. - Total revenues for the three months ended March 31, 2025, were $8,235,000, a decrease of 6.7% compared to $8,827,000 in 2024[114]. - Net Operating Income (NOI) for the same period was $4,464,000, down 17.4% from $5,402,000 in 2024[114]. - Adjusted EBITDA attributable to the company for the three months ended March 31, 2025, was $2,749,000, compared to $3,495,000 in 2024[117]. - The company reported a net loss of $4,334,000 for the three months ended March 31, 2025, compared to a net loss of $2,989,000 in 2024[117]. Operating Expenses - Total operating expenses decreased by 12.4% to $8,221,000 for the three months ended March 31, 2025, compared to $9,381,000 in 2024[105]. - General and administrative expenses decreased by 36.8% to $1,908,000 in Q1 2025 from $3,017,000 in Q1 2024, primarily due to changes in equity compensation timing[107]. - The increase in property operating expenses was attributed to additional expenses from properties that converted to management contracts and timing of maintenance work[106]. - Interest expense increased by 55.6% to $4,636,000 for the three months ended March 31, 2025, compared to $2,979,000 in the same period of 2024[111]. Cash Flow - Cash used in operating activities increased to $1,530,000 in the three months ended March 31, 2025, from $1,357,000 in 2024[129]. - Cash provided by investing activities was $2,931,000 in the three months ended March 31, 2025, compared to cash used of $409,000 in 2024[130]. - Cash used in financing activities was $1,069,000 for the three months ended March 31, 2025, compared to $1,001,000 in 2024[131]. Company Strategy and Outlook - The company plans to convert the remaining assets to asset management contracts by the end of 2027, enhancing revenue visibility and performance management[100]. - The company anticipates a hybrid work structure will normalize, impacting asset performance in urban centers[99]. - The company is evaluating several parking facilities as potential acquisition targets but is unlikely to proceed until more favorable financial market conditions are realized[124]. - The company has authorized a share repurchase program of up to $10 million, funded by proceeds from the Line of Credit[127]. Company Assets - The company owns 40 parking facilities across 20 markets in the U.S., totaling approximately 15,100 parking spaces and 5.2 million square feet as of March 31, 2025[96].

Financial Data and Key Metrics Changes - Revenue for the first quarter of 2025 was $8,200,000, stable compared to 2024 when adjusted for accounting changes, but down 6.7% on a GAAP basis from $8,800,000 in Q1 2024 [21] - Net Operating Income (NOI) was $4,500,000, down 17% from the previous year's first quarter, primarily due to a $600,000 revenue benefit in the prior year [23] - Adjusted EBITDA was $2,700,000, down about 21% from $3,500,000 in the prior year, with an adjusted EBITDA margin of 33.4% [24] - The company maintains its 2025 revenue guidance of $37,000,000 to $40,000,000 and expects NOI to range from $23,500,000 to $25,000,000, representing year-on-year growth of 7% at the midpoint [25] Business Line Data and Key Metrics Changes - Monthly or contract parking now represents more than 35% of management contract parking revenue, providing more stable cash flow [18] - Revenue per available stall (RevPAS) was $184 per stall, slightly up from $183 in the prior year when excluding the Detroit location [22] Market Data and Key Metrics Changes - The first quarter is typically the lightest season, with adverse weather and construction impacting demand, particularly in Cincinnati [7] - Transient transactions declined compared to the prior year, but average transient rates increased, indicating pricing power despite lower volume [8] Company Strategy and Development Direction - The company is focused on converting its core portfolio into management agreements to drive increased utilization and optimize its asset portfolio by rotating out non-core assets [5][10] - A 36-month disposition program targeting approximately $100,000,000 of non-core properties is underway, with proceeds to be reinvested into higher potential income-generating assets [11] - The company is exploring additional revenue streams, including electric vehicle charging and partnerships with autonomous vehicle operators [12] Management's Comments on Operating Environment and Future Outlook - Management acknowledged seasonal headwinds and external factors that muted top-line growth but emphasized that underlying operating metrics are moving in the right direction [12] - The completion of the Cincinnati convention center renovation is expected to improve demand in the future [31] - Management remains confident in the annual plan and the trajectory of the business, despite current challenges [25] Other Important Information - The company has a cash and restricted cash balance of $16,000,000 and total debt outstanding of $214,000,000 [25] - The company is actively working on refinancing its debt to enhance flexibility and support its capital rotation strategy [16] Q&A Session Summary Question: Will the convention center remodel in Cincinnati affect the rest of the year? - Management indicated that the completion timeframe has been moved up, with an expected opening in December of this year or January of next year [31] Question: What about operating expenses in the quarter? - Management noted that security expenses have increased and some planned maintenance expenses were moved forward, but they expect these to align with guidance for the year [32] Question: Is the Renaissance Center in Detroit a drag on overall portfolio performance? - Management confirmed that the asset has moved to a revenue trough more quickly than anticipated, but redevelopment should alleviate downward pressure in the future [33][34] Question: What is the timeline for refinancing debt? - Management stated that most maturities are in 2026 and 2027, and they are working on refinancing to provide flexibility for their capital rotation strategy [36][38] Question: How sustainable are the improved contract parking demand trends? - Management indicated that transient rates are holding steady, and as downtown parking demand increases, pricing power is expected to shift towards the company [44][45] Question: Can you elaborate on the EV revenue sharing initiatives? - Management mentioned that EV charging is being implemented in several garages, but utilization will take time to build as customers need to be aware of the availability [46][47]

Financial Data and Key Metrics Changes - Revenue for Q1 2025 was $8,200,000, stable compared to Q1 2024 when adjusted for accounting changes, but down 6.7% on a GAAP basis from $8,800,000 in Q1 2024 [20][25] - Net Operating Income (NOI) was $4,500,000, down 17% from the previous year's first quarter [23] - Adjusted EBITDA was $2,700,000, a decrease of about 21% from $3,500,000 in the prior year [24] - The internal Net Asset Value (NAV) remains at $7.25 per share, indicating a material discount relative to the stock price [14][15] Business Line Data and Key Metrics Changes - Monthly or contract parking now represents over 35% of management contract parking revenue, providing more stable cash flow [17] - Revenue per available stall (RevPAS) was $184 per stall, slightly up from $183 in the prior year when excluding the Detroit location [21] Market Data and Key Metrics Changes - The first quarter is typically the lightest season, and this year was impacted by severe weather and construction disruptions [7][12] - Transient transactions declined compared to the prior year, but average transient rates increased, indicating pricing power despite lower volume [8] Company Strategy and Development Direction - The company is focused on converting its core portfolio into management agreements to drive utilization and optimize its asset portfolio [5][10] - A 36-month disposition program targeting approximately $100,000,000 of non-core properties is underway to reinvest in higher potential assets [10][11] - The company is exploring complementary revenue streams, including electric vehicle charging and partnerships with autonomous vehicle operators [11][12] Management's Comments on Operating Environment and Future Outlook - Management acknowledged seasonal headwinds that muted top-line growth but noted that underlying operating metrics are moving in the right direction [12] - The company maintains its 2025 guidance for revenue between $37,000,000 and $40,000,000 and NOI between $23,500,000 and $25,000,000, representing year-on-year growth [25] Other Important Information - The company has a $40,000,000 credit facility in place to manage preferred stock redemptions and has reinstated dividends to preferred shareholders [13] - The company is actively evaluating debt facilities to ensure swift capital reallocation following asset sales [11][15] Q&A Session Summary Question: Will the convention center remodel in Cincinnati affect the rest of the year? - Management indicated that the convention center's completion is expected by December of this year or January of next year, with street closures also nearing completion [30] Question: Are there any one-time operating expenses in the quarter? - Management confirmed that security expenses have increased and some planned maintenance expenses were moved forward, but they expect these to align with guidance for the year [32] Question: What is the outlook for the Renaissance Center in Detroit? - Management noted that the asset has moved to a revenue trough more quickly than anticipated, but redevelopment should alleviate downward pressure on overall performance [33][34] Question: What is the timeline for refinancing debt? - Management stated that most maturities are in 2026 and 2027, and they are working on refinancing options to provide flexibility for their capital rotation strategy [36][38] Question: How sustainable are the improved contract parking demand trends? - Management indicated that transient rates are holding steady, and as downtown parking demand increases, pricing power is expected to shift towards the company [42][44] Question: Can you elaborate on the EV revenue sharing initiatives? - Management confirmed that EV charging is being implemented in several garages, with utilization expected to build over several quarters as awareness increases [45][46]

Mobile Infrastructure Corporation (BEEP) came out with a quarterly loss of $0.10 per share versus the Zacks Consensus Estimate of a loss of $0.09. This compares to loss of $0.09 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -11.11%. A quarter ago, it was expected that this company would post a loss of $0.08 per share when it actually produced a loss of $0.03, delivering a surprise of 62.50%.Over the last four quarters, the c ...

First Quarter 2025 Revenue was Stable Year-over-Year, Adjusting for a $0.6 Million First Quarter 2024 Benefit from 2023 Revenue Recognition Higher Contract Parking Volumes Reflect Management Focus on Increased Utilization Exhibit 99.1 Mobile Infrastructure Reports First Quarter 2025 Financial Results Portfolio Optimization Program Underway Commenting on the results, Manuel Chavez III, Chief Executive Officer, said, "While year-over-year financial comparisons were exacerbated by several asset-specific headwi ...

INVESTOR PRESENTATION 1st Quarter 2025 Legal Disclaimer FORWARD-LOOKING STATEMENTS THIS PRESENTATION INCLUDES FORWARD-LOOKING STATEMENTS WITHIN THE MEANING OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995. ALL STATEMENTS, OTHER THAN STATEMENTS OF PRESENT OR HISTORICAL FACT, THAT ADDRESS THE FUTURE FINANCIAL PERFORMANCE OF MOBILE INFRASTRUCTURE CORPORATION (THE "COMPANY"), AS WELL AS THE COMPANY'S STRATEGY, FUTURE OPERATIONS, FUTURE OPERATING RESULTS, FINANCIAL POSITION, ESTIMATED REVENUES, AND LOSSES ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K (Mark one) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________ to _________ Commission File Number: 001-40415 Mobile Infrastructure Corporation (Exact name of registrant as specified in its charter) ...

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