Parkit Enterprise Reports Q3 2025 Results

Core Insights - Parkit Enterprise Inc. reported strong financial performance in Q3 2025, with a year-over-year same property NOI growth of 9% and FFO growth of 31% [1][2] - The company acquired a multi-tenant industrial warehouse in Edmonton for $10.8 million, expanding its portfolio and entering a new market [2][15] - Parkit maintained a strong liquidity position with over $4.3 million in cash and cash equivalents, indicating readiness for future acquisitions [2][3] Financial Performance - Total revenue for Q3 2025 decreased by 4% to $7,365,674 compared to $7,671,945 in Q3 2024, while revenue for the nine months increased by 14% to $24,829,814 [2] - Net rental income increased by 5% to $4,751,070 for Q3 2025, and by 18% to $15,142,554 for the nine months [2] - Funds from operations (FFO) rose by 22% to $2,236,385 for Q3 2025 and by 31% to $6,190,105 for the nine months [2][8] Leasing Activity - During Q3 2025, Parkit renewed 2,200 square feet of leases and signed new leases for 24,665 square feet at market rates [2][3] - Stabilized Comparative Properties NOI increased by 8% to $3,133,565 for Q3 2025, reflecting effective management and tenant renewals [2][13] Cash Flow and Investments - Cash flow from operations for the nine months ended September 30, 2025, was $11,462,904, down from $12,664,922 in the same period of 2024 [2] - The company reported a net cash inflow of $30,796,370 from investing activities for the nine months ended September 30, 2025, compared to cash used of $9,841,084 in the previous year [2] Net Income - Parkit achieved a net income of $1,323,169 for Q3 2025, a significant turnaround from a net loss of $2,119,597 in Q3 2024 [2][8] - For the nine months ended September 30, 2025, net income was $17,961,695, compared to a net loss of $2,400,618 in the same period of 2024 [2][9]