Filing Flows › Gladstone Commercial (GOOD) › Q3 2025
Gladstone Commercial (GOOD) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 3, 2025
Gladstone Commercial (GOOD) reported revenue of $40.8M for the third quarter 2025 (Q3 2025), +4% from a year earlier and +3% from the quarter before. Operating margin was 10.1%, net earnings $4.1M (10.1% of revenue).
Gladstone Commercial, Q3 2025: revenue $40.8M (+4% year over year), operating margin 10.1%, net earnings $4.1M, operating cash flow $18.9M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $40.8M | +3% | +4% |
| Operating profit | $4.1M | -11% | -65% |
| Net earnings | $4.1M | -11% | -65% |
| Operating cash flow | $18.9M | -47% | +241% |
What changed
Revenue was $40.8M in Q3 2025, up 4% year over year and up 3% from the previous quarter.
Operating profit was $4.1M, a 10.1% margin (down 19.7 points year over year). Operating profit fell $7.6M even though revenue rose $1.6M versus a year earlier, so costs grew faster than sales. Total costs grew 33% against revenue growth of 4%. The fastest-growing cost line was Other operating costs (+35%). Net earnings were $4.1M, down 65% year over year. The effective tax rate was 0.0%.
Operating cash flow was $18.9M (up 241% year over year), 457% of net earnings. Non-cash charges added back $15.3M of depreciation and amortization.
Questions
What was Gladstone Commercial's revenue in the third quarter 2025?
Gladstone Commercial (GOOD) reported revenue of $40.8M for the third quarter 2025 (Q3 2025), +4% from a year earlier and +3% from the quarter before.
Was Gladstone Commercial profitable in the third quarter 2025?
Operating profit was $4.1M (10.1% of revenue) and net earnings $4.1M.