Zoned Properties Announces Q3 2024 Financial Results with Record Revenue and Strong Cash Flow Generation
Zoned Properties (OTCQB:ZDPY) reported strong Q3 2024 financial results, with total revenue increasing 43% to $1,029,630 compared to Q3 2023. The company's property investment portfolio revenues grew 18% to $750,926, while operating expenses decreased 13%. Income from operations surged 806% to $445,188 for Q3 2024. The company has begun implementing its previously announced $1 million share repurchase program and secured future retail dispensary locations in Ohio. Cash flow from operations increased 1,508% to $455,363 for the nine months ended September 30, 2024. The company maintained $1.2 million in cash as of Q3 2024.
Proprietà zonate (OTCQB:ZDPY) ha riportato forti risultati finanziari per il terzo trimestre del 2024, con un aumento del 43% dei ricavi totali a $1,029,630 rispetto al terzo trimestre del 2023. I ricavi del portafoglio investimenti immobiliari dell'azienda sono aumentati del 18%, raggiungendo $750,926, mentre le spese operative sono diminuite del 13%. Il reddito delle operazioni è aumentato dell'806% a $445,188 per il terzo trimestre del 2024. L'azienda ha iniziato a implementare il programma di riacquisto azionario da $1 milione precedentemente annunciato e ha assicurato future sedi di dispensari al dettaglio in Ohio. Il flusso di cassa dalle operazioni è aumentato del 1,508% a $455,363 per i nove mesi conclusi il 30 settembre 2024. L'azienda ha mantenuto $1.2 milioni in cassa al terzo trimestre del 2024.
Propiedades zonificadas (OTCQB:ZDPY) reportó sólidos resultados financieros para el tercer trimestre de 2024, con ingresos totales aumentando un 43% a $1,029,630 en comparación con el tercer trimestre de 2023. Los ingresos de la cartera de inversiones en propiedades de la compañía crecieron un 18% hasta $750,926, mientras que los gastos operativos disminuyeron un 13%. Los ingresos de las operaciones se dispararon un 806% a $445,188 para el tercer trimestre de 2024. La compañía ha comenzado a implementar su programa de recompra de acciones de $1 millón previamente anunciado y ha asegurado futuras ubicaciones de dispensarios minoristas en Ohio. El flujo de efectivo de las operaciones aumentó un 1,508% a $455,363 para los nueve meses que finalizaron el 30 de septiembre de 2024. La compañía mantuvo $1.2 millones en efectivo al tercer trimestre de 2024.
지역 지정 자산 (OTCQB:ZDPY)은 2024년 3분기 재무 결과가 강하게 나타났으며, 총 매출이 2023년 3분기 대비 43% 증가한 $1,029,630에 달했습니다. 회사의 부동산 투자 포트폴리오 수익은 18% 증가한 $750,926에 도달했으며, 운영 비용은 13% 감소했습니다. 운영 수익은 2024년 3분기에 806% 급증하여 $445,188에 이르렀습니다. 회사는 이전에 발표된 100만 달러의 자사주 매입 프로그램을 시행하기 시작했으며, 오하이오주에 향후 소매 유통점 위치를 확보했습니다. 운영에서의 현금 흐름은 2024년 9월 30일 종료된 9개월 동안 1,508% 증가하여 $455,363에 도달했습니다. 회사는 2024년 3분기 기준으로 $1.2 백만의 현금을 보유하고 있습니다.
Propriétés zonées (OTCQB:ZDPY) a annoncé de solides résultats financiers pour le troisième trimestre de 2024, avec des revenus totaux en hausse de 43 % pour atteindre 1 029 630 $ par rapport au troisième trimestre de 2023. Les revenus du portefeuille d'investissements immobiliers de l'entreprise ont augmenté de 18 % pour atteindre 750 926 $, tandis que les dépenses opérationnelles ont diminué de 13 %. Le revenu des opérations a explosé de 806 % pour atteindre 445 188 $ au troisième trimestre de 2024. L'entreprise a commencé à mettre en œuvre son programme de rachat d'actions de 1 million de dollars précédemment annoncé et a sécurisé des emplacements futurs de dispensaires de détail dans l'Ohio. Le flux de trésorerie provenant des opérations a augmenté de 1 508 % pour atteindre 455 363 $ pour les neuf mois se terminant le 30 septembre 2024. L'entreprise a maintenu 1,2 million de dollars en liquidités au troisième trimestre de 2024.
Zonierte Immobilien (OTCQB:ZDPY) berichtete von starken Finanzzahlen für das 3. Quartal 2024, wobei der Gesamterlös um 43 % auf $1,029,630 im Vergleich zum 3. Quartal 2023 anstieg. Die Einnahmen aus dem Immobilieninvestitionsportfolio des Unternehmens wuchsen um 18 % auf $750,926, während die Betriebskosten um 13 % sanken. Das Betriebseinkommen stieg im 3. Quartal 2024 um 806 % auf $445,188. Das Unternehmen hat mit der Umsetzung seines zuvor angekündigten Aktienrückkaufprogramms in Höhe von 1 Million Dollar begonnen und zukünftige Einzelhandelsstandorte in Ohio gesichert. Der Cashflow aus dem operativen Geschäft stieg um 1,508 % auf $455,363 für die neun Monate bis zum 30. September 2024. Das Unternehmen hielt zum 3. Quartal 2024 $1,2 Millionen Bargeld.
- Total revenue increased 43% YoY to $1.03M in Q3 2024
- Property investment portfolio revenue grew 18% to $750.9K
- Operating expenses decreased 13% YoY
- Income from operations increased 806% to $445.2K in Q3
- Operating cash flow surged 1,508% to $455.4K for nine months
- Implemented $1M share repurchase program
- Cash position decreased from $3.1M to $1.2M since December 2023
- Net income decreased from $114.5K in Q3 2023 to $58.9K in Q3 2024
Revenue for the Three Months Ended September 30, 2024 Increased
43% Income from Operations for the Nine Months Ended September 30, 2024 Increased
648% Operating Cash Flow for the Nine Months Ended September 30, 2024 Increased 1,
508% Previously Announced Share Repurchase Program for up to
$1 Million Has Begun
SCOTTSDALE, AZ / ACCESSWIRE / November 14, 2024 / Zoned Properties®, Inc. ("Zoned Properties" or the "Company") (OTCQB:ZDPY), a technology-driven property investment company for emerging and highly regulated industries, including legalized cannabis, today announced its financial results for the third quarter and nine months ended September 30, 2024, as well as recent highlights related to the Company's ongoing progress.
Recent Highlights:
The Company continues to make material progress in expanding its property portfolio, enhancing cash flow, and reducing operating expenses.
The Company previously announced the approval of a stock repurchase program, pursuant to which the Company is authorized to purchase up to
$1 million of its common stock over an unlimited period of time. The Company has begun repurchasing shares and expects to continue to do so in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and Rule 10b-18 of the Exchange Act.The Company has secured a portfolio of future retail dispensary locations in Ohio, working with tier-one dispensary operators as applicants through the state's lottery system. Multiple properties are in major metropolitan areas and are expected to be leased to tier-one cannabis operators, further solidifying the Company's presence in key markets with best-in-class cannabis tenants.
The Company previously announced it has listed one of its legacy cultivation property assets in Chino Valley, Arizona for sale. This potential transaction marks a significant development in the Company's strategic real estate portfolio optimization. The Chino Valley property has become a valuable non-core asset, and its potential sale is part of the Company's strategic efforts to source non-dilutive investment capital in order to concentrate on a direct-to-consumer real estate strategy.
Selected Financial Highlights for the Three and Nine Months Ended September 30, 2024:
Total revenues were
$1,029,630 for the quarter ended September 30, 2024, compared to$720,450 for the quarter ended September 30, 2023, an increase of43% .Property investment portfolio revenues were
$750,926 for the quarter ended September 30, 2024, compared to$637,143 for the quarter ended September 30, 2023, an increase of18% .Operating expenses were
$584,442 for the quarter ended September 30, 2024, compared to$671,338 for the quarter ended September 30, 2023, a decrease of13% .Income from operations was
$445,188 for the quarter ended September 30, 2024, compared to$49,112 for the quarter ended September 30, 2023, an increase of806% .Income from operations was
$677,235 for the nine months ended September 30, 2024, compared to$90,531 for the nine months ended September 30, 2023, an increase of648% .Cash provided by operating activities was
$455,363 for the nine months ended September 30, 2024, compared to$28,325 for the nine months ended September 30, 2023, an increase of 1,508% .Net income of
$58,872 , or ($0.00) per fully diluted share, for the quarter ended September 30, 2024, as compared to net income of$114,523 , or$0.01 per fully diluted share, for the quarter ended September 30, 2023.The Company had cash on hand of
$1.2 million as of September 30, 2024, compared to cash on hand of$3.1 million as of December 31, 2023. The decrease in cash position primarily reflects the Company's property investments and acquisitions.
Management Commentary:
"We are incredibly proud of our third quarter results, which resulted in record revenue, robust operating cash flow, and a continued ability to deliver profitability, all of which underscore the credibility of our business model. This forward momentum is a testament to our core team and the operating ecosystem we have created, supporting strong tenant diversification and attractive geographic expansion opportunities. With our focus on value-add direct-to-consumer properties, we are well-positioned to capture above average cap rates in high-growth markets. Our property investment pipeline remains strong as we continue to secure new locations, bolstered by our deep industry relationships and disciplined investment process. In line with our strategic capital allocation priorities, we have been actively executing our share repurchase program, reaffirming our confidence in the intrinsic value of our company and our assets compared to our market cap, reflecting our ongoing commitment to delivering shareholder value. We expect this share repurchase activity will continue as part of our opportunistic approach to managing capital," said Bryan McLaren, Chief Executive Officer of Zoned Properties.
About Zoned Properties, Inc. (OTCQB: ZDPY):
Zoned Properties Inc. ("Zoned Properties" or the "Company") (OTCQB: ZDPY) is a technology-driven property investment company focused on acquiring value-add real estate within the regulated cannabis industry in the United States. The Company aspires to innovate within the real estate development sector, focusing on direct-to-consumer real estate that is leased to the best-in-class cannabis retailers.
Headquartered in Scottsdale, Arizona, Zoned Properties is redefining the approach to commercial real estate investment through its standardized investment process backed by its proprietary property technology. Zoned Properties has developed a national ecosystem of real estate services to support its real estate development model, including a commercial real estate brokerage and a real estate advisory practice. With a decade of national experience and a team of experts devoted to the emerging cannabis industry, Zoned Properties is addressing the specific needs of a modern market in highly regulated industries. The Company targets commercial properties that face unique zoning or development challenges, identifies solutions that can potentially have a major impact on their commercial value, and then works to acquire the properties while securing long-term, absolute-net leases.
Zoned Properties targets commercial properties that can be acquired and rezoned for specific purposes, including the regulated and legalized cannabis industry. It does not grow, harvest, sell or distribute cannabis or any substances regulated under United States law such as the Controlled Substance Act of 1970, as amended. Zoned Properties corporate headquarters are located at 8360 E. Raintree Dr., Suite 230, Scottsdale, Arizona. For more information, call 877-360-8839 or visit www.ZonedProperties.com.
Twitter: @ZonedProperties
LinkedIn: @ZonedProperties
Safe Harbor Statement
This press release contains forward-looking statements. All statements other than statements of historical facts included in this press release are forward-looking statements. In some cases, forward-looking statements can be identified by words such as "believe," "expect," "anticipate," "plan," "potential," "continue" or similar expressions. Such forward-looking statements include risks and uncertainties, and there are important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These factors, risks and uncertainties are discussed in the Company's filings with the Securities and Exchange Commission. Investors should not place any undue reliance on forward-looking statements since they involve known and unknown, uncertainties and other factors which are, in some cases, beyond the Company's control which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects the Company's current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to operations, results of operations, growth strategy and liquidity. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
Investor Relations
Zoned Properties, Inc.
Bryan McLaren
Tel (877) 360-8839
Investors@zonedproperties.com
www.zonedproperties.com
SOURCE: Zoned Properties, Inc.
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