Overview

* Comstock Q3 revenue increased 3% to $13.3 mln, net income decreased to $0.5 mln

* Adjusted EBITDA for Q3 declined due to higher operating costs from ParkX expansion

* Company secured significant office leases post-Q3, boosting YTD commercial leasing

Outlook

* Comstock expects new ParkX contracts to commence in Q4, expanding revenue streams

* Company secured over 310,000 sqft of new office leases post-Q3

* Comstock anticipates fee-based revenue from new JW Marriott assets

Result Drivers

* COMMERCIAL LEASING - Significant office leases signed post-quarter end, boosting YTD commercial leasing to over 500,000 sqft

* PARKX EXPANSION - Investment in ParkX expansion drives headcount growth and adds new fee-based revenue streams

* RECURRING REVENUE GROWTH - 30% increase in recurring, fee-based revenue from property management subsidiaries

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 $13.32

Revenue mln

Q3 EPS $0.05

Q3 Net $541,000

Income

Q3 $1.07

Adjusted mln

EBITDA

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)