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Lightstone Value Plus REIT I cash flow, quarter by quarter

Latest: Q2 2026 · from the cash-flow statements filed with the SEC

Free cash flow$637K in Q2 2026 · $2.7M over twelve months

Operating cash flow$637K
Free cash flow+$637K
Cash / net income0.1×

Analysis

In Q2 2026, Lightstone Value Plus REIT I generated $637K of operating cash flow. That is $1.8M more than in Q2 2025 (−$1.1M).

Over the twelve months to Jun 30, 2026, operating cash flow was $2.7M; the largest uses were net borrowing (+) / repaid (−) ($24.4M), buybacks ($3.5M), other financing ($1.3M); besides operations, cash came from other investing ($58.1M); the cash balance rose by $63.2M.

Operating cash flow was $637K against net income of $7.3M — 0.1× profit, less cash than reported earnings, worth checking against working capital. The largest differences: prepaid and other assets −$2.2M, depreciation & amortization +$1.8M, payables +$282K.

Free cash flow

Lightstone Value Plus REIT I: free cash flow by quarterLightstone Value Plus REIT I: free cash flow by quarter$1.8MQ3 2024$95KQ4 2024−$2.2MQ1 2025−$1.1MQ2 2025−$940KQ3 2025$2.7MQ4 2025$361KQ1 2026$637KQ2 2026
Operating cash flow less capital spending.
Lightstone Value Plus REIT I: operating cash flow against capital spendingLightstone Value Plus REIT I: operating cash flow against capital spendingOperating cash flowCapital spending$1.8M$0Q3 2024$95K$0Q4 2024−$2.2M$0Q1 2025−$1.1M$0Q2 2025−$940K$0Q3 2025$2.7M$0Q4 2025$361K$0Q1 2026$637K$0Q2 2026
Latest (Q2 2026): Operating cash flow $637K, Capital spending $0.

Capital allocation, year by year

Lightstone Value Plus REIT I: where the cash came from (up) and went (down), by fiscal yearLightstone Value Plus REIT I: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingAsset salesBuybacksDividendsFY2021: Operating cash flow $10.0MFY2021: Net borrowing −$21.8MFY2021: Buybacks −$1.6MFY2021: Dividends −$15.3M$10.0MFY2021FY2022: Operating cash flow $8.0MFY2022: Net borrowing $93.4MFY2022: Buybacks −$4.4MFY2022: Dividends −$13.1M$101MFY2022FY2023: Operating cash flow −$7.6MFY2023: Net borrowing −$631KFY2023: Buybacks −$3.5MFY2023: Dividends −$9.5MFY2023FY2024: Operating cash flow −$2.8MFY2024: Net borrowing −$477KFY2024: Asset sales $2.5MFY2024: Buybacks −$3.8M$2.5MFY2024FY2025: Operating cash flow −$1.6MFY2025: Net borrowing −$22.0MFY2025: Buybacks −$3.6MFY2025
Over these 5 years operating cash flow totalled $6.0M; the largest uses were net borrowing ($44.9M) and dividends ($37.9M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$57.2M
Debt$221M
Net debt$164M
Due within a year$760K

Lightstone Value Plus REIT I funds itself: free cash flow was $2.7M over the last twelve months, and $57.2M of cash and investments stands against $221M of debt ($760K due within a year, 75.2× covered by cash).

Lightstone Value Plus REIT I: debt maturities by year (FY2025)Lightstone Value Plus REIT I: debt maturities by year (FY2025)$760KYear 1$811KYear 2$156MYear 3$64.9MYear 5
Principal due in each year as disclosed in the annual report, against $57.2M of cash and investments now.

Where the cash came from and went

Lightstone Value Plus REIT I: sources (+) and uses (−) of cash, Q2 2026Lightstone Value Plus REIT I: sources (+) and uses (−) of cash, Q2 2026Cash drawn (+) / kept (−)$4.7MExchange rates−$2.3MOther investing−$1.7MBuybacks−$915KOperating cash flow$637KNet borrowing (+) / repaid (−)−$180KOther financing−$175K
Lightstone Value Plus REIT I: sources (+) and uses (−) of cash, TTM to Q2 2026Lightstone Value Plus REIT I: sources (+) and uses (−) of cash, TTM to Q2 2026Cash drawn (+) / kept (−)−$63.2MOther investing$58.1MExchange rates$31.6MNet borrowing (+) / repaid (−)−$24.4MBuybacks−$3.5MOperating cash flow$2.7MOther financing−$1.3M

From profit to cash

Lightstone Value Plus REIT I: net income to operating cash flow, Q2 2026Lightstone Value Plus REIT I: net income to operating cash flow, Q2 2026Net income$7.3MDepreciation & amortization$1.8MOther non-cash$26KPayables$282KPrepaid and other assets−$2.2MOperating cash flow$637K
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowBuybacksNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q2 2026$637K−$915K−$180K$4.7M$637K
Q1 2026$361K−$874K−$200K$6.3M$361K
Q4 2025$2.7M−$874K$164K$20.0M$2.7M
Q3 2025−$940K−$876K−$24.2M−$94.2M−$940K
Q2 2025−$1.1M−$874K$140K−$804K−$1.1M
Q1 2025−$2.2M−$949K$1.9M$8.6M−$2.2M
Q4 2024$95K−$949K−$2.4M−$2.0M$95K
Q3 2024$1.8M−$951K$30K−$6.5M$1.8M

Lightstone Value Plus REIT I: income statement and cash flow

Lightstone Value Plus REIT I, Q2 2026: revenue $17.5M (+2% year over year), operating margin 22.5%. The chart follows the revenue to costs, profit and cash.

Lightstone Value Plus REIT I: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.