Overview

* Comstock Q2 revenue rises 21% yr/yr to $13 mln, driven by fee-based revenue

* Net income for Q2 increases 53% to $1.4 mln, reflecting strong performance

* Adjusted EBITDA grows 39% to $2.2 mln, supported by recurring revenue streams

Outlook

* Company to begin Phase II delivery of Reston Station in Q3 2025

* Comstock anticipates growth from ParkX service expansion in 2025

Result Drivers

* FEE-BASED REVENUE - 42% increase in recurring, fee-based revenue from property management subsidiaries, including a 124% rise in third-party revenue from ParkX

* RETURN-TO-OFFICE DEMAND - Growing return-to-office mandates driving interest in premium mixed-use, transit-oriented assets

* ZERO DEBT ADVANTAGE - Company's zero debt status and strong cash generation underpin growth and earnings visibility

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 $12.97

Revenue mln

Q2 EPS $0.14

Q2 Net $1.45

Income mln

Q2 $2.22

Adjusted mln

EBITDA

Press Release:

(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.)