Filing Flows › Gladstone Commercial (GOOD) › Q4 2025
Gladstone Commercial (GOOD) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 18, 2026
Gladstone Commercial (GOOD) reported revenue of $43.5M for the fourth quarter 2025 (Q4 2025), +16% from a year earlier and +6% from the quarter before. Operating margin was 12.4%, net earnings $5.4M (12.4% of revenue).
Gladstone Commercial, Q4 2025: revenue $43.5M (+16% year over year), operating margin 12.4%, net earnings $5.4M, operating cash flow $15.7M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $43.5M | +6% | +16% |
| Operating profit | $5.4M | +30% | -25% |
| Net earnings | $5.4M | +30% | -25% |
| Operating cash flow | $15.7M | -17% | -31% |
What changed
Revenue was $43.5M in Q4 2025, up 16% year over year and up 6% from the previous quarter.
Operating profit was $5.4M, a 12.4% margin (down 6.9 points year over year). Operating profit fell $1.8M even though revenue rose $6.1M versus a year earlier, so costs grew faster than sales. Total costs grew 26% against revenue growth of 16%. The fastest-growing cost line was Other operating costs (+27%). Net earnings were $5.4M, down 25% year over year. The effective tax rate was 0.0%.
Operating cash flow was $15.7M (down 31% year over year), 292% of net earnings. Non-cash charges added back $15.5M of depreciation and amortization. Working capital and other items used $5.1M.
Questions
What was Gladstone Commercial's revenue in the fourth quarter 2025?
Gladstone Commercial (GOOD) reported revenue of $43.5M for the fourth quarter 2025 (Q4 2025), +16% from a year earlier and +6% from the quarter before.
Was Gladstone Commercial profitable in the fourth quarter 2025?
Operating profit was $5.4M (12.4% of revenue) and net earnings $5.4M.