ELMEElme Communities

$191M

Q1 2023 Earnings

Real Estate REIT - Office

Income Statement

Revenue

$56M+16.7% YoY

Gross Profit

$35M61.9% margin

Operating Income

$3M5.8% margin

Net Income

-$4M-6.5% margin

EPS (Diluted)

$-0.04

QoQ Revenue Growth

+0.4%

Cash Flow

Operating Cash Flow

$16M

Free Cash Flow

$16M

Stock-Based Comp.

$1M

Balance Sheet

Total Assets

$1.9B

Total Liabilities

$609M

Stockholders' Equity

$1.2B

Cash & Equivalents

$7M

Year-over-Year Comparison

Metric	Current	Year Ago	Change
Revenue	$56M	$48M	+16.7%
Gross Profit	$35M	$29M	+19.4%
Operating Income	$3M	-$2M	+231.8%
Net Income	-$4M	-$8M	+52.8%

Revenue Segments

Residential Segment

$51M91%

Corporate and Other

$5M9%

ELME Q1 2023 Earnings — Elme Communities Revenue & Financial Results | Market Cap Arena