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Zoned Properties Inc (ZDPY+15.37%). has submitted its 10-K filing for the fiscal year ended December 31, 2024.
The filing includes financial statements for the year, showing total revenues of $3,793,289, an increase from $2,886,991 in the previous year. This increase was driven by higher rental revenues and real estate services.
Operating expenses for the year were $2,690,119, slightly down from $2,717,804 in the previous year. The decrease was mainly due to reduced compensation and benefits expenses.
Net income for the year was $573,958, compared to a net loss of $540,258 in the previous year. This turnaround is attributed to increased revenues and stable operating expenses.
The company reported cash provided by operating activities of $578,218, while cash used in investing and financing activities was $3,527,929 and $869,896, respectively.
Zoned Properties maintains a portfolio of properties leased to cannabis tenants, with significant tenants including Broken Arrow Herbal Center, Inc. and VSM, LLC.
The filing details various lease agreements, including amendments to the Chino Valley and Tempe leases, which involve rental adjustments and tenant improvement allowances.
The company continues to focus on expanding its property investment portfolio and real estate services, with recent acquisitions in Chicago, Illinois, and Surprise, Arizona.
Zoned Properties operates in two segments: Property Investment Portfolio and Real Estate Services, with the latter showing significant growth in revenues.
The company acknowledges potential risks related to the cannabis industry, including regulatory changes and market dynamics, which could impact its operations.
Zoned Properties emphasizes its strategy of acquiring value-add real estate within the regulated cannabis industry and leveraging its proprietary property technology.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Zoned Properties Inc annual 10-K report dated March 25, 2025. To report an error, please email earnings@qz.com.