Mon, May 20, 8:48 PM (154 days ago)
Generation Income Properties, Inc. reported a net loss of $1.88 million for Q1 2024, an increase from a $1.19 million loss in Q1 2023. Revenue rose significantly to $2.43 million from $1.34 million due to the acquisition of a 13-property portfolio from Modiv. Operating expenses also increased to $3.63 million from $2.04 million, driven by higher depreciation, amortization, and interest expenses associated with the new properties. Cash flow from operations was positive at $25,977, but there are concerns about liquidity, particularly with $11.8 million in mortgage loans maturing in 2024. The company's ability to refinance these loans is critical for its continued operations.