Comstock Holding Companies, Inc. announced strong financial results for the first quarter ended March 31, 2025. The company reported revenue of $12.639 million, an 18.8% increase compared to $10.638 million in Q1 2024. Net income surged to $1.589 million, up 74.6% from $0.910 million in the prior year period.
Adjusted EBITDA for Q1 2025 grew 37.9% to $2.050 million, compared to $1.486 million in Q1 2024. Diluted earnings per share increased to $0.15 from $0.09 in Q1 2024. The company's managed portfolio expanded to 76 assets in Q1 2025, up from 65 assets in Q1 2024.
Management highlighted that year-to-date top line revenue increased for the 25th consecutive quarter, driving profitability and operating cash flow. The company also noted continued leasing momentum, welcoming multiple new commercial tenants and maintaining near full-occupancy in residential buildings. Initial delivery of significant assets in The Row at Reston Station is expected in the fall of 2025.
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