Highlands REIT, Inc. (HHDS)

Highlands REIT Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Rental Revenue	36.51	35.08	30.05	30.44	27.69
Other Revenue	0.9	1	0.94	0.92	0.94
Total Revenue	37.41	36.08	30.98	31.36	28.63
Revenue Growth (YoY	3.67%	16.46%	-1.20%	9.53%	-1.08%
Property Expenses	16.11	13.99	14.26	14.39	13.75
Selling, General & Administrative	14.2	11.71	12.51	11.66	12.72
Depreciation & Amortization	11.75	11.84	10.76	10.41	10.59
Total Operating Expenses	42.06	37.54	37.53	36.46	37.05
Operating Income	-4.66	-1.46	-6.55	-5.1	-8.43
Interest Expense	-7.19	-7.63	-5.09	-2.68	-3.25
Interest & Investment Income	0.75	1.21	1.35	0.14	0.03
EBT Excluding Unusual Items	-11.1	-7.88	-10.3	-7.64	-11.65
Gain (Loss) on Sale of Assets	-	6.87	-	-0.01	-
Asset Writedown	-	-	-	-	-1.41
Pretax Income	-11.1	-1.01	-10.3	-7.65	-13.06
Earnings From Continuing Operations	-11.1	-1.01	-10.3	-7.65	-13.06
Minority Interest in Earnings	-	0.01	-0	-0.01	0.01
Net Income	-11.1	-1.01	-10.3	-7.66	-13.05
Net Income to Common	-11.1	-1.01	-10.3	-7.66	-13.05
Basic Shares Outstanding	721	722	877	886	881
Diluted Shares Outstanding	721	722	877	886	881
Shares Change (YoY)	-0.17%	-17.67%	-0.97%	0.47%	0.25%
EPS (Basic)	-0.02	-0.00	-0.01	-0.01	-0.01
EPS (Diluted)	-0.02	-0.00	-0.01	-0.01	-0.01
Operating Margin	-12.45%	-4.05%	-21.15%	-16.28%	-29.43%
Profit Margin	-29.67%	-2.79%	-33.25%	-24.44%	-45.57%
EBITDA	7.1	10.38	4.2	5.29	2.08
EBITDA Margin	18.98%	28.78%	13.55%	16.86%	7.25%
D&A For Ebitda	11.76	11.84	10.75	10.39	10.5
EBIT	-4.66	-1.46	-6.55	-5.1	-8.43
EBIT Margin	-12.45%	-4.05%	-21.15%	-16.28%	-29.43%
Funds From Operations (FFO)	0.61	3.92	0.3	2.6	-1.2
Adjusted Funds From Operations (AFFO)	0.61	3.92	0.3	2.6	-1.2
Revenue as Reported	37.41	36.08	30.98	31.36	28.63

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Real Estate template. Financial Sources.