NewLake Capital Partners Income Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Rental Revenue	50.7	49.6	46.78	42.57	27.45	11.66
Total Revenue	51.24	50.13	47.3	45	28.06	11.66
Revenue Growth (YoY	1.19%	5.98%	5.12%	60.38%	140.57%	900.39%
Property Expenses	0.92	0.24	0.66	0.22	-	12.36
Selling, General & Administrative	7.19	7.91	7.56	7.58	6.87	4.06
Depreciation & Amortization	15.43	14.71	14.27	12.83	8.1	2.6
Total Operating Expenses	23.5	22.82	22.65	20.62	14.96	23.74
Operating Income	27.75	27.32	24.66	24.38	13.1	-12.08
Interest Expense	-0.79	-0.57	-0.38	-0.27	-0.01	-
Interest & Investment Income	0.01	-	-	-	0.1	0.15
Other Non-Operating Income	-0.17	-0.17	0.75	0.11	-	-
EBT Excluding Unusual Items	26.8	26.58	25.02	24.22	13.19	-11.92
Gain (Loss) on Sale of Assets	-0.03	-	-	-0.06	-	1.49
Other Unusual Items	-	-	-	-1.8	-1.6	-
Pretax Income	26.76	26.58	25.02	22.36	11.59	-10.43
Earnings From Continuing Operations	26.76	26.58	25.02	22.36	11.59	-10.43
Minority Interest in Earnings	-0.45	-0.47	-0.44	-0.38	-0.36	-0.23
Net Income	26.31	26.12	24.59	21.98	11.23	-10.67
Preferred Dividends & Other Adjustments	-	-	-	-	0	0.02
Net Income to Common	26.31	26.12	24.59	21.98	11.23	-10.68
Net Income Growth	-2.73%	6.22%	11.87%	95.64%	-	-
Basic Shares Outstanding	21	21	21	21	17	7
Diluted Shares Outstanding	21	21	22	22	18	7
Shares Change (YoY)	-0.01%	-2.72%	-1.20%	24.16%	146.61%	-
EPS (Basic)	1.28	1.27	1.16	1.03	0.66	-1.50
EPS (Diluted)	1.28	1.27	1.16	1.02	0.66	-1.50
EPS Growth	-2.81%	9.20%	13.29%	55.37%	-	-
Dividend Per Share	1.720	1.700	1.570	1.440	0.430	-
Dividend Growth	2.99%	8.28%	9.03%	234.88%	-	-
Operating Margin	54.15%	54.49%	52.12%	54.17%	46.67%	-103.55%
Profit Margin	51.35%	52.09%	51.97%	48.84%	40.02%	-91.60%
EBITDA	43.17	42.03	38.92	37.2	21.19	-9.47
EBITDA Margin	84.25%	83.84%	82.28%	82.67%	75.53%	-81.23%
D&A For Ebitda	15.43	14.71	14.27	12.83	8.1	2.6
EBIT	27.75	27.32	24.66	24.38	13.1	-12.08
EBIT Margin	54.15%	54.49%	52.12%	54.17%	46.67%	-103.55%
Funds From Operations (FFO)	42.21	41.28	39.29	35.24	19.68	-8.14
FFO Per Share	-	1.97	1.82	1.62	1.12	-1.14
Adjusted Funds From Operations (AFFO)	-	43.69	40.65	38.66	21.75	8.84
AFFO Per Share	-	2.08	1.89	1.77	1.24	1.24
FFO Payout Ratio	83.66%	82.97%	84.14%	82.27%	59.27%	-
Revenue as Reported	51.24	50.13	47.3	45	28.06	11.66

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Real Estate template. Financial Sources.