Tue, May 14, 9:15 PM (233 days ago)
Comstock Holding Companies, Inc. reported a revenue increase of 3.5% to $10.6 million for Q1 2024, driven by portfolio expansion. Operating costs rose by 6.0% due to higher personnel expenses and billable costs. Net income was $910,000, a 20.7% increase from Q1 2023. Adjusted EBITDA decreased slightly by 8.6% to $1.5 million, primarily due to lower supplemental revenue from leasing fees. Cash and cash equivalents totaled $16.2 million, down from $18.8 million at year-end 2023, with a $2.2 million net cash outflow from operations. The company maintains a debt-free balance sheet and has $10 million available under its credit facility.