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Gladstone Commercial (GOOD) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 3, 2026 · Gladstone Commercial (GOOD) Q3 2026 earnings results →
Q3 2026 Revenue up 4% year over year to $42.4M · 5¢ of every $1 of revenue lost · operating margin -4.9%
Gladstone Commercial made $42.4M in Q3 2026 (+4% Y/Y). Operating margin -4.9%, net loss $2.1M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 3, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $42.4M in Q3 2026, up 4% year over year and down 4% from the previous quarter.
Operating costs exceeded revenue by $2.1M, an operating margin of -4.9%. Total costs grew 21% against revenue growth of 4%. The fastest-growing cost line was Other operating costs (+22%). The quarter ended with a net loss of $2.1M, after a profit of $8.3M the previous quarter.
Operating cash flow was $20.9M (up 11% year over year). Non-cash charges added back $15.4M of depreciation and amortization. Working capital and other items added $7.5M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 3, 2026 | $42.4M | +4% | -4.9% | −$2.1M | $20.9M |
| Q2 2026 | 10-Q | Aug 5, 2026 | $44.0M | +11% | 18.8% | $8.3M | $17.6M |
| Q1 2026 | 10-Q | May 5, 2026 | $41.9M | +12% | 16.6% | $7.0M | $17.9M |
| Q4 2025 | 10-K | Feb 18, 2026 | $43.5M | +16% | 12.4% | $5.4M | $15.7M |
| Q3 2025 | 10-Q | Nov 3, 2025 | $40.8M | +4% | 10.1% | $4.1M | $18.9M |
| Q2 2025 | 10-Q | Aug 6, 2025 | $39.5M | +7% | 11.7% | $4.6M | $35.8M |
| Q1 2025 | 10-Q | May 7, 2025 | $37.5M | +5% | 13.7% | $5.1M | $17.7M |
Charts
Interactive views
The same charts as the app — open one to draw it.
💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About Gladstone Commercial
Gladstone Commercial Corporation (which we refer to as “we,” “us,” or the “Company”) was incorporated under the General Corporation Law of the State of Maryland on February 14, 2003. We have elected to be taxed as a REIT for federal income tax purposes. We focus on acquiring, owning, and managing primarily industrial and office properties. Our shares of common stock, par value $0.001 per share, 6.625% Series E Cumulative Redeemable Preferred Stock, par value $0.001 per share (“Series E Preferred Stock”), and 6.00% Series G Cumulative Redeemable Preferred Stock, par value $0.001 per share (“Series G Preferred Stock”), trade on the Nasdaq Global Select Market (“Nasdaq”) under the trading symbols “GOOD,” “GOODN” and “GOODO,” respectively.
In its own words, from its 10-K, filed Feb 18, 2026.
Gladstone Commercial against its Lessors of Real Property, NEC peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +4% against the peers' median +8%. Operating margin: -4.9% against the peers' median 8.9%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| GOOD Gladstone Commercial | Q3 2026 | $42.4M | +4% | -4.9% |
| Highwoods Realty Ltd Partnership | Q3 2026 | $218M | +8% | 67.2% |
| STHO Star | Q3 2026 | $39.9M | +42% | 8.9% |
| RHEP Regional Health Properties | Q2 2026 | $24.4M | +143% | -0.9% |
| ALCO Alico | Q3 FY26 | $9.0M | +8% | 20.9% |
Source: Gladstone Commercial 10-Q on SEC EDGAR · CIK 1234006 · Lessors of Real Property, NEC
Guidance and outlook
13F: who owns GOOD and who is buying
More on GOOD
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results