Core Insights - Stratus Properties Inc. reported a net loss of $(5.0) million for Q3 2025, compared to a loss of $(0.4) million in Q3 2024, indicating a significant decline in performance [4] - The company’s revenues for Q3 2025 were $5.0 million, down from $8.9 million in Q3 2024, primarily due to no real estate sales during the quarter [4][8] - Stratus is exploring cash utilization strategies following the anticipated sale of Lantana Place – Retail for approximately $57.4 million, which is expected to close in Q4 2025 [3][30] Financial Performance - Net loss attributable to common stockholders for the first nine months of 2025 was $(7.6) million, compared to a net income of $2.5 million in the same period of 2024 [4] - Total revenues for the first nine months of 2025 were $21.6 million, down from $43.9 million in the first nine months of 2024, largely due to reduced real estate sales [4][8] - EBITDA for the first nine months of 2025 was $(8.0) million, compared to $3.9 million in the same period of 2024 [4] Cash and Liquidity - As of September 30, 2025, Stratus had $55.0 million in cash and cash equivalents, a significant increase from $20.2 million at the end of 2024 [9] - The company’s consolidated debt totaled $203.9 million as of September 30, 2025, compared to $194.9 million at the end of 2024 [9][10] Development and Operations - The lease-up of The Saint George is progressing, and the company is preparing for homebuilding at Holden Hills Phase 1 in 2026 [5] - Stratus has incurred capital expenditures of $28.6 million for the first nine months of 2025, primarily related to ongoing developments [11] Share Repurchase Program - As of November 7, 2025, Stratus has repurchased 180,899 shares at an average price of $21.59 per share, with $21.1 million remaining under its $25.0 million share repurchase program [12]