Wed, May 14, 7:20 PM (29 days ago)
**KAANAPALI LAND, LLC (KLLC) - Q1 2025 Financial Summary** **Financial Health & Performance:** - **Revenue:** Total revenues decreased to $440,000 in Q1 2025 from $541,000 in Q1 2024, driven by a decline in sales and lease income and interest and other income. - **Profit Margins:** Operating loss before other income and income taxes widened to $(1,517,000) in Q1 2025 from $(1,474,000) in Q1 2024. Net loss increased to $(1,168,000) from $(1,034,000). - **Cash Flow:** Net cash used in operating activities increased to $(1,651,000) in Q1 2025 from $(1,490,000) in Q1 2024. Net cash used in financing activities was $(924,000) due to retirement plan contributions. - **Earnings Changes:** Net loss per share increased to $(0.63) in Q1 2025 from $(0.56) in Q1 2024. **Trends & Uncertainties:** - **Lahaina Wildfire Impact:** The wildfire in August 2023 continues to affect operations, with insurance claims ongoing and the coffee mill still under reconstruction. - **Land Development:** Progress on key projects like KCF Mauka and Puukolii Village is dependent on regulatory approvals and water use permits. - **Legal Proceedings:** Arbitration with Newport Hospital Corporation (NHC) is ongoing, with potential material impact on financial results. - **Economic Factors:** Inflation, interest rates, and macroeconomic conditions pose risks to real estate development and land sales. **Future Operations Impact:** - **Insurance Claims:** Continued reliance on insurance proceeds to offset losses from the wildfire. - **Land Sales:** Timing and amount of proceeds from land sales will significantly impact liquidity and capital resources. - **Regulatory Approvals:** Success of development projects hinges on obtaining necessary permits and approvals. - **Legal Outcomes:** Resolution of ongoing legal proceedings could materially affect financial results.