v3.25.3
Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
REVENUE:        
Rental revenues $ 23,706 $ 24,336 $ 73,543 $ 75,925
Other revenues 115 456 733 1,056
Total Revenue 23,821 24,792 74,276 76,981
OPERATING EXPENSES:        
Property operations 7,819 8,488 24,497 26,290
Depreciation and amortization 5,612 6,241 17,621 19,212
Impairment charges 2,490 1,195 2,490 1,195
Corporate general & administrative 2,404 2,057 7,953 7,356
Total Operating Expenses 18,325 17,981 52,561 54,053
(Loss) gain on disposal of properties, net (3) 7,083 10,874 9,966
Operating Income 5,493 13,894 32,589 32,894
Interest income 290 133 734 256
Gain on investment securities, net - related party 0 591 0 779
Interest expense (7,853) (7,851) (24,638) (24,034)
Net changes in fair value of derivative liabilities 14,989 (39,299) 6,252 (49,774)
Loss on conversion of Convertible Notes 0 (368) (902) (368)
Gain on preferred stock redemptions 176   1,222 2,739
Other expense (113) (257) (876) (1,486)
Net Income (Loss) Before Income Taxes 12,982 (30,631) 14,381 (38,994)
Income tax expense 0 0 (26) (1)
Net Income (Loss) 12,982 (30,631) 14,355 (38,995)
Less: Net income attributable to noncontrolling interests 1,455 2,689 4,766 8,088
Net Income (Loss) Attributable to Wheeler REIT 11,527 (33,320) 9,589 (47,083)
Preferred stock dividends - undeclared (1,591) (2,071) (5,101) (6,135)
Deemed contribution (distribution) related to preferred stock redemption value 0 0 553 (710)
Deemed contribution related to preferred stock exchanges 3,009 0 8,527 0
Deemed distribution related to repurchase of noncontrolling interests (4,031) (284) (16,552) (284)
Net Income (Loss) Attributable to Wheeler REIT Common Shareholders 8,914 (35,675) (2,984) (54,212)
Net Income (Loss) Attributable to Wheeler REIT Common Shareholders $ 8,914 $ (35,675) $ (2,984) $ (54,212)
Earnings (loss) per share:        
Basic (in dollars per share) $ 18.37 $ (129,727.27) $ (14.77) $ (306,282.49)
Diluted (in dollars per share) $ (0.83) $ (129,727.27) $ (14.77) $ (306,282.49)
Weighted-average number of shares:        
Basic (in shares) 485,191 275 201,971 177
Diluted (in shares) 6,481,698 275 201,971 177

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