Strawberry Fields(STRW) - 2025 Q4 - Annual Results

Revenue Growth - Rental revenues increased by $37.9 million, or 32.4%, compared to fiscal year 2024, driven by new leases and acquisitions[5] - Rental revenues increased to $154,999,000 in 2025 from $117,058,000 in 2024, representing a growth of 32.3%[25] - Net income rose to $33.3 million in 2025 from $26.5 million in 2024, attributed to increased rental revenues[11] - Net income attributable to common shareholders was $7,575,000 in 2025, compared to $4,095,000 in 2024, reflecting an increase of 85.5%[25] Funds from Operations - Funds from Operations (FFO) reached $79.6 million, up from $60.2 million, with FFO per share increasing to $1.43 from $1.15[8] - Funds from Operations (FFO) reached $79,567,000 in 2025, a 32.2% increase from $60,193,000 in 2024[28] - Adjusted Funds from Operations (AFFO) amounted to $72,465,000 in 2025, up from $55,825,000 in 2024, indicating a growth of 29.7%[28] Acquisitions - The Company acquired 6 facilities in Kansas for $24.0 million, increasing annual rents by $2.4 million, with a 3% annual increase[2] - The Company completed the acquisition of nine skilled nursing facilities in Missouri for $59.0 million, increasing annual rents by $5.5 million[2] - The Company plans to continue seeking accretive deals while maintaining a disciplined acquisition approach in 2026[4] Expenses - General and administrative expenses increased by $1.8 million, or 25.6%, primarily due to higher payroll expenses[7] - Depreciation expense increased by $6.7 million, or 23.2%, due to acquisitions and new real estate investments[6] - Total expenses rose to $70,713,000 in 2025, up from $55,755,000 in 2024, marking an increase of 26.8%[25] - Depreciation and amortization expenses totaled $46,249,000 in 2025, compared to $33,688,000 in 2024, reflecting a rise of 37.2%[28] Assets and Stock - Total assets increased to $885.2 million in 2025 from $787.6 million in 2024[23] - The weighted average number of common stock outstanding increased to 12,696,831 in 2025 from 7,124,158 in 2024, an increase of 78.5%[25] Other Financial Metrics - The Company issued Series B Bonds totaling approximately $89.5 million at a fixed interest rate of 6.70%[2] - Basic and diluted income per common share increased to $0.60 in 2025 from $0.57 in 2024, a rise of 5.3%[25] - The company reported a loss from real estate disposition of $12,000 in 2025, while there was no such loss in 2024[28] - Comprehensive income was $(447,000) in 2025, a decrease from $3,906,000 in 2024, indicating a decline of 111.5%[25]