- Capital expenditures and leasing commissions year-to-date totaled $5.2 million, with full-year guidance between $12 million and $14 million.
- Global Medical REIT reported a second quarter 2025 dividend reduction from $0.21 to $0.15 per share, reflecting a rightsizing aligned with dividend coverage dropping from 110% to 79% on a FAD basis.
- Occupancy as of June 30, 2025, stood at 94.5%, down from the first quarter due to lease expirations and tenant bankruptcies, with expectations to end the year above 95%.
- The company completed a $150 million acquisition of a five-property outpatient medical real estate portfolio at an 8.5% blended going-in cash yield.
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- AFFO was $18.4 million or $0.18 per diluted share.
- FFO attributable to common shareholders was $19 million or $0.19 per diluted share.
- Liquidity remained strong at $172.2 million including revolving credit availability.
- Net debt to total adjusted EBITDA stood at 7.7x, and stabilized portfolio debt to adjusted EBITDA was 5.2x.
- Normalized FFO for Q2 2025 was $0.25 per diluted share, in line with guidance.
- Office occupancy remained high at 96.3%, retail occupancy at 94.2%, and multifamily occupancy dipped slightly to 94%.
- Same-store NOI increased 1.4% on a GAAP basis and 0.3% on a cash basis.
- Adjusted EBITDA was $11.2 million, positive but down year-over-year, impacted by lower gross margin and strategic investments including severance costs.
- Agent count was 82,704, down 5% year-over-year but up 1% sequentially quarter-over-quarter, with increased transactions per agent indicating higher productivity.
- eXp World Holdings generated $1.3 billion in revenue in Q2 2025, with real estate sales volume up 1% year-over-year despite a 2% decrease in sales transactions.
- International segment revenue grew 59% year-over-year, driven by increased productive agents and new market launches, though adjusted EBITDA loss increased due to expansion and events.
- Non-GAAP gross margin was 12%, while GAAP gross margin was 7.1%, down 40 basis points from Q2 2024 due to more agents reaching their cap.
- North America Realty segment remains the largest revenue and profit generator with $1.3 billion revenue and $19.8 million adjusted EBITDA in Q2.
- Other affiliated services contributed modest revenue but had an adjusted EBITDA loss of $2.3 million.
- The company ended Q2 with $94.6 million in cash, after paying $17 million of a $34 million antitrust litigation settlement.
- Declared an annualized dividend of $0.95 per share, a 5% increase over prior year.
- For the first half of 2025, Nareit FFO was $72.6 million or $0.93 per diluted share, reflecting a 4.5% year-over-year increase; Core FFO was $0.90 per diluted share, up 3.4%.
- For the quarter, same-property NOI was $42.6 million, a 4.8% increase compared to the same period last year, driven by embedded rent escalations, occupancy gains, positive rent spreads, redevelopment activity, and percentage rents.
- Nareit FFO for Q2 was $35.5 million or $0.45 per diluted share, a 2.3% increase compared to Q2 last year; Core FFO also increased 2.3% to $0.44 per diluted share.
- Net leverage ratio stood at 17%, net debt to adjusted EBITDA was 2.8x on a trailing 12-month basis.
- Same property NOI grew approximately 6% for the first half of the year, with Nareit FFO per share rising nearly 5% year-over-year.
- The company ended the quarter with $787 million of total liquidity, including $500 million borrowing capacity under revolving credit.
- Weighted average interest rate was 4% with a weighted average maturity of 2.9 years.
- Year-to-date same-property NOI totaled $85.1 million, a 5.6% increase over the first 6 months of 2024.
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