Mobile Infrastructure (US:BEEP) Globenewswire·2025-11-10 21:05Core Insights - Mobile Infrastructure Corporation reported a stable third quarter performance with contract parking volumes increasing by 8.0% year-to-date and 1.4% sequentially [3][18] - The company is on track with its asset rotation strategy, expecting to have approximately $30 million of non-core assets sold or under contract by the end of 2025 [20][21] - A recently completed $100 million asset-backed securitization has enhanced the company's capital flexibility and supports its portfolio optimization efforts [7][21] Financial Performance - Total revenue for Q3 2025 was $9.1 million, a decrease of 6.9% from $9.8 million in the prior-year period [11][12] - The net loss for Q3 2025 was $6.4 million, compared to a loss of $1.9 million in the same period last year [15][36] - Net Operating Income (NOI) was $5.5 million, down from $6.1 million in Q3 2024, but slightly up from $5.4 million in Q2 2025 [15][16] Operational Highlights - Residential monthly contracts have surged approximately 75% year-over-year, contributing to a more stable revenue base [4][18] - Transient parking volumes have decreased year-on-year due to construction impacts and fewer special events, although transient rates have increased [6][18] - The company is focusing on improving retention and utilization at various assets, with expectations for performance improvements in 2026 [5][18] Strategic Outlook - The company has revised its full-year 2025 guidance, now expecting revenues between $34.5 million and $35.5 million, with NOI of $20 million to $21 million [19][21] - The asset rotation strategy aims to divest approximately one-third of its $100 million non-core asset portfolio within the first year [20][21] - The company anticipates that several headwinds faced in 2025 will reverse in 2026, providing opportunities for growth [19][22]