Mobile Infrastructure Reports Third Quarter 2026 Financial Results

Net debt outstanding declined to $198.3 million, while cash, cash equivalents and restricted cash fell to $10.6 million.

Rhea-AI Summary

Mobile Infrastructure (BEEP) reported third-quarter 2026 revenue of $9.6 million, with parking volumes supporting growth and a narrower net loss. Revenue rose 5.5% year over year; same-location revenue increased 12.8%. Net loss narrowed to $2.550 million from $6.428 million, while loss per common share improved to $0.06 from $0.15. Same-location net operating income, revenue less property taxes and operating expenses, rose 18.4% to $6.3 million. Adjusted EBITDA, an adjusted earnings measure, increased 23.2% to $4.8 million.

Revenue per available parking stall reached $245.83, versus $211.53 a year earlier. Contract volumes grew approximately 13%, and utilization rose approximately 13 percentage points. Mobile reiterated its 2026 outlook but expects revenue at the low end of its $35 million–$38 million range. Its three-year $100 million asset rotation program has generated approximately $33 million in proceeds to date.

22 points · 0 major

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0 major · 9 points

Hollow bars mark forward-looking points. How the balance works

Positive

• Moderate pointQ3 revenue rose 5.5% year over year to $9.6 million, versus $8.9 million in Q2.
• Moderate pointQ3 net loss narrowed to $2.550 million from $6.428 million a year earlier.
• Moderate pointQ3 net operating income increased 13.6% year over year to $6.3 million.
• Moderate pointQ3 adjusted EBITDA increased 23.2% year over year to $4.8 million.
• Moderate pointContract parking volumes grew approximately 13% year over year; transient volumes increased 11%.
• Moderate pointPortfolio utilization rose approximately 13 percentage points year over year and approximately 8 points on a trailing-twelve-month basis.
• Moderate pointRevenue per available stall reached $245.83, versus $211.53 a year earlier and $224.96 in Q2.
• Moderate pointNet debt outstanding declined to $198.3 million at September 30, 2026, from $207.7 million at year-end 2025.
• Moderate pointAsset rotation proceeds total approximately $33 million to date under the three-year $100 million program. 34% of market cap

13 minor points

• Minor pointSame-location revenue increased 12.8% year over year to $9.6 million.
• Minor pointQ3 loss per common share improved to $0.06 from $0.15 a year earlier.
• Minor pointSame-location net operating income increased 18.4% year over year to $6.3 million.
• Minor pointTrailing-twelve-month revenue per available stall increased to $211.22 from $202.53 a year earlier.
• Minor pointQ3 property taxes and operating expenses declined to $3.3 million from $3.6 million a year earlier.
• Minor pointQ3 general and administrative expenses declined to $2.250 million from $2.438 million a year earlier.
• Minor pointQ3 depreciation and amortization declined to $1.762 million from $2.874 million a year earlier.
• Minor pointManaged property revenue rose to $8.544 million from $7.673 million in Q3 year over year.
• Minor pointNine-month revenue increased to $26.409 million from $26.313 million a year earlier.
• Minor pointNine-month net loss narrowed to $13.577 million from $15.423 million a year earlier.
• Minor pointNine-month loss per common share improved to $0.33 from $0.36 a year earlier.
• Minor point. Forward-looking: it has not happened yet and may not happen.2026 net operating income guidance remains $21.5 million–$23.0 million, with expected midpoint growth of 7%; same-location growth is 10%.
• Minor point. Forward-looking: it has not happened yet and may not happen.2026 adjusted EBITDA guidance remains $15.0 million–$16.5 million, with expected midpoint growth of 10%; same-location growth is 13%.

Negative

• Moderate point. Forward-looking: it has not happened yet and may not happen.2026 revenue is expected at the low end of the reiterated $35 million–$38 million guidance range.
• Moderate pointCash, cash equivalents and restricted cash fell to $10.6 million from $15.3 million at year-end 2025.
• Moderate pointNine-month debt extinguishment loss totaled $2.044 million, versus none a year earlier. 2.1% of market cap
• Minor pointQ3 net interest expense increased to $4.781 million from $4.568 million a year earlier.
• Minor pointQ3 base rental income declined to $1.013 million from $1.279 million a year earlier.

4 minor points

• Minor pointQ3 percentage rental income declined to $27,000 from $134,000 a year earlier.
• Minor pointNine-month net interest expense increased to $14.634 million from $13.908 million a year earlier.
• Minor pointNine-month real estate sale loss totaled $1.115 million, versus none a year earlier.
• Minor pointNine-month general and administrative expenses increased to $7.256 million from $7.230 million a year earlier.

News Explained

At September 30, 2026, Mobile Infrastructure reported $10.6 million in cash, cash equivalents and restricted cash, alongside $198.3 million in total debt, net—a quarter-end snapshot of its reported liquidity and debt.

Key Figures

Total revenue: $9.6 million; +5.5% YoY Net loss: $2.6 million Same-Location NOI: $6.3 million; +18.4% YoY +5 more

Total revenue

$9.6 million; +5.5% YoY

Q3 2026, compared with $9.1 million in Q3 2025

Net loss

$2.6 million

Q3 2026, compared with $6.4 million in Q3 2025

Same-Location NOI

$6.3 million; +18.4% YoY

Q3 2026, compared with $5.3 million in Q3 2025

Adjusted EBITDA

$4.8 million; +23.2% YoY

Q3 2026, compared with $3.9 million in Q3 2025

RevPAS

$245.83

Q3 2026, compared with $211.53 in Q3 2025

2026 revenue guidance

$35 million to $38 million

Reiterated; company expects revenue at the low end of the range

2026 NOI guidance

$21.5 million to $23.0 million

Reiterated; 7% year-over-year growth at the midpoint and 10% same-location growth

2026 Adjusted EBITDA guidance

$15.0 million to $16.5 million

Reiterated; 10% year-over-year growth at the midpoint and 13% same-location growth

Previous Earnings Reports

2 past events · Latest: Aug 11

Same Type 2 events

1. Aug 11

   Q2 earnings

   24h Move

   +0.4%

   Same-location NOI rose 12% to $5.9 million; contract volumes grew 12% and RevPAS reached $224.96.

2. Nov 10

   Q3 earnings

   24h Move

   -0.3%

   Revenue declined 6.9%, with a $6.4 million net loss and $5.5 million NOI.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

adjusted ebitda, net operating income, non-gaap financial measures, capitalization rate

4 terms

adjusted ebitda financial

"Adjusted EBITDA* was $4.8 million as compared to $3.9 million"

Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.

net operating income financial

"Same-Location Net Operating Income (“Same-Location NOI”)"

Net operating income is the profit a business makes from its core operations after subtracting the costs directly related to running those operations, but before accounting for taxes, interest, or other expenses. It shows how efficiently a company is generating income from its main activities. Investors use this figure to assess the company's operational performance and profitability.

non-gaap financial measures financial

"Explanations of these non-GAAP financial measures"

Non-GAAP financial measures are numbers companies use to show their financial performance that exclude certain expenses or income. They help investors see how the company might perform without one-time costs or other unusual items, giving a different perspective from official reports. However, since they can be adjusted, they don’t always tell the full story and should be looked at alongside standard financial figures.

capitalization rate financial

"at a weighted-average capitalization rate of approximately 2%"

The capitalization rate is a percentage that helps investors estimate how much money a property or investment might generate relative to its value. It’s similar to a return rate, showing how quickly an investment could pay for itself over time. This rate helps compare different investments and assess their potential profitability.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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RevPAS Increases 16% Driven by Utilization Improvement

Contract Volumes Up 13% and Transient Volumes Up 11%

Conference Call to be held at 4:30 PM Eastern Time Today

CINCINNATI, Nov. 10, 2026 (GLOBE NEWSWIRE) -- Mobile Infrastructure Corporation (Nasdaq: BEEP), (“Mobile”, “Mobile Infrastructure” or the “Company”), the nation’s only publicly traded owner of parking infrastructure, today reported results for the three and nine months ended September 30, 2026.

“We are pleased with our third quarter results, marking Mobile’s strongest operating quarter of 2026, building strong momentum heading into 2027, and achieving our highest utilization and RevPAS to date,” said Stephanie Hogue, Chief Executive Officer. “At the start of the year, we discussed our strategy of building utilization first, establishing a larger and more durable base of recurring and transient demand, and following this with improved, sustainable pricing as utilization improves. Our results in the third quarter evidence strong execution as our strategy translates into earnings improvement. Same-Location Revenue grew 12.8% and Same-Location NOI increased 18.4%, marking our third consecutive quarter of Same-Location NOI growth and a clear acceleration from the first half of the year.

“In the third quarter, our growth was principally volume-driven. Utilization rose approximately 13 percentage points year-over-year and RevPAS increased approximately 16%, reaching its highest level since we began tracking the measure in 2023. Monthly parking is the foundation of that progress. Baseline contract volumes grew approximately 13%, supported by residential demand, commercial relationships, and targeted business development, with Cincinnati, Fort Worth, and Detroit among the leading contributors. Recurring contracts give us greater revenue visibility and a more stable base from which to optimize transient inventory, which supports improved pricing over time. Transient demand benefited from an active summer event calendar and a growing share of third-party reservations, with notable strength in Chicago, Cincinnati, and Nashville. We have deliberately prioritized utilization and customer relationships, and we expect to achieve pricing power as more of the portfolio reaches stabilized utilization.

"We continue to execute our disciplined capital allocation strategy. To date, we have generated approximately $33 million of proceeds under our three-year $100 million asset rotation program, at a weighted-average capitalization rate of approximately 2%. These private-market valuations reinforce the underlying value of our portfolio and the disconnect from our current share price. Our priorities remain clear: maximize the performance of our existing assets, improve portfolio quality and strengthen the balance sheet, all to build long-term shareholder value," Ms. Hogue concluded.

Third Quarter 2026 Highlights

• Total revenue was $9.6 million, up 5.5%, as compared to $9.1 million in the prior-year period and $8.9 million in Q2.
• Same-Location Revenue was $9.6 million, up 12.8%, as compared to $8.5 million in the prior-year period.
• Net loss was $2.6 million as compared to $6.4 million in the prior-year period and $3.2 million in Q2.
• NOI* was $6.3 million as compared to $5.5 million in the prior-year period, an increase of 13.6% year-over-year.
• Same-Location NOI* was $6.3 million as compared to $5.3 million in the prior-year period, an increase of 18.4% year-over-year.
• Adjusted EBITDA* was $4.8 million as compared to $3.9 million in the prior-year period, an increase of 23.2% year-over-year.
• Contract parking volumes grew approximately 13% year-over-year, supported by continued strength in residential and return-to-office momentum.
  

* Explanations of these non-GAAP financial measures and reconciliation to the most comparable GAAP financial measures are presented later in this press release.

Q3 2026 Financial Results

Total revenue of $9.6 million increased by 5.5% from $9.1 million in the prior-year quarter. Same-Location Revenue was $9.6 million, an increase of 12.8% compared to $8.5 million in the third quarter of 2025. Revenue increases are primarily due to growth in managed property revenue driven by contract and transient volume increases.

Total property taxes and operating expenses were $3.3 million, as compared to $3.6 million during the third quarter of 2025.

General and administrative expenses were $2.3 million, which included $0.8 million of non-cash compensation, compared to $2.4 million during the third quarter of 2025, which included $0.8 million of non-cash compensation.

Interest expense was $4.8 million compared to $4.6 million in the third quarter of 2025.

Net loss was $2.6 million, an improvement from $6.4 million in the prior-year period, which included a non-cash $2.5 million impairment of real estate.

Same-Location Net Operating Income (“Same-Location NOI”), defined by the Company as total revenues less property taxes and operating expenses for the 35 properties owned during both reported periods, was $6.3 million, up 18.4% from $5.3 million in the prior-year period. Growth was driven primarily by contract and transient volume increases together with disciplined operating expense control. Adjusted EBITDA was $4.8 million compared to $3.9 million in the prior-year period.

Revenue Per Available Stall (“RevPAS”) was $245.83, compared to $211.53 in the third quarter of 2025 and $224.96 in the second quarter of 2026. Trailing twelve-month RevPAS was $211.22, compared to $202.53 a year earlier. Portfolio utilization was up approximately 13 percentage points year-over-year in the third quarter and approximately 8 percentage points on a trailing twelve-month basis, reflecting continued contract growth and the reopening of several demand-driving venues across the portfolio driving transient volumes.

Balance Sheet, Cash Flow, and Liquidity

At September 30, 2026, the Company had $10.6 million in cash, cash equivalents and restricted cash, compared to $15.3 million at December 31, 2025. As of September 30, 2026, total debt outstanding, net, including outstanding borrowings under the Line of Credit and notes payable, was $198.3 million, down from $207.7 million at yearend 2025.

Full Year 2026 Guidance**

The Company is reiterating its full year 2026 guidance range as initially provided with fourth quarter and full year 2025 results. Based on our results to date, for full year 2026, the Company expects revenue to be at the low end of the range of $35 million to $38 million.

The Company expects NOI to range from $21.5 million to $23.0 million, representing year-over-year growth of 7% at the midpoint, and 10% growth on a same-location basis. The Company expects adjusted EBITDA to range from $15.0 million to $16.5 million, representing year-over-year growth of 10% at the midpoint, and 13% growth on a same-location basis.

This guidance is supported by expectations for continued contract volume growth, the reopening and enhancement of several venues, and the positive impact from technology optimization across the Company’s core portfolio on pricing and utilization. The guidance does not reflect any potential future asset sales or acquisitions from the asset rotation plan.

**The Company does not provide a reconciliation for non-GAAP estimates on a forward-looking basis, where it is unable to provide a meaningful or accurate calculation or estimation of reconciling items and the information is not available without unreasonable effort.

Third Quarter 2026 Conference Call and Webcast Information

Mobile will hold a conference call to discuss its third quarter 2026 results on November 10, 2026, at 4:30 p.m. ET.

Participants who wish to access the live conference call may do so by registering here. Upon registration, a dial-in and unique PIN will be provided to join the call.

A live, listen-only webcast of the conference call may be accessed from the Investor Relations section of the Company’s website, or by registering here.

For those who are unable to listen to the live broadcast, a replay of the webcast will be available in the “News & Events” section of the Investor Relations website under “IR Calendar” for one year.

Forward-Looking Statements

Certain statements contained in this press release are forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995. All statements included in this press release that are not historical facts (including any statements concerning our net operating income and revenue projections, our assessment of various trends impacting our economic performance, the effects of implementation of strategic model changes, other plans and objectives of management for future operations or economic performance, or assumptions or forecasts related thereto) are forward-looking statements. Forward-looking statements are typically identified by the use of terms such as “may,” “should,” “expect,” “could,” “intend,” “plan,” “anticipate,” “estimate,” “believe,” “continue,” “predict,” “potential” or the negative of such terms and other comparable terminology.

The forward-looking statements included herein are based upon the Company’s current expectations, plans, estimates, assumptions and beliefs, which involve numerous risks and uncertainties. Although the Company believes that the expectations reflected in such forward-looking statements are based on reasonable assumptions, the actual results and performance could differ materially from those set forth in the forward-looking statements. Factors which could have a material adverse effect on operations and future prospects are discussed in the sections titled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” included in the Company’s Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, filed with the Securities and Exchange Commission from time to time.

All forward-looking statements are made as of the date of this press release. Except as otherwise required by the federal securities laws, the Company undertakes no obligation to publicly update or revise any forward-looking statements.

About Mobile Infrastructure Corporation

Mobile Infrastructure Corporation is a Maryland corporation. The Company owns a diversified portfolio of parking assets throughout the United States. As of September 30, 2026, the Company owned 35 parking facilities in 18 separate markets throughout the United States, with a total of 13,200 parking spaces and approximately 4.6 million square feet. The Company also owns approximately 0.1 million square feet of retail/commercial space adjacent to its parking facilities. Learn more at www.mobileit.com.

Mobile Contact
David Gold | Lynn Morgen
beepir@advisiry.com | (212) 750-5800

MOBILE INFRASTRUCTURE CORPORATION CONSOLIDATED BALANCE SHEETS (In thousands, except share and per share amounts)
		As of September 30, 2026				As of December 31, 2025
		(unaudited)
ASSETS
Investments in real estate
Land and improvements		$	142,584			$	150,566
Buildings and improvements			236,590				244,627
Construction in progress			1,060				87
Intangible assets			5,717				5,717
			385,951				400,997
Accumulated depreciation and amortization			(44,136	)			(38,860	)
Total investments in real estate, net			341,815				362,137
Cash and cash equivalents			4,879				8,349
Cash – restricted			5,717				6,935
Accounts receivable, net			3,181				3,985
Other assets			1,462				1,058
Total assets		$	357,054			$	382,464
LIABILITIES AND EQUITY
Liabilities
Notes payable, net		$	175,395			$	181,771
Line of credit			22,927				25,895
Accounts payable and accrued expenses			14,037				15,196
Accrued preferred distributions and redemptions			81				67
Due to related parties			490				490
Total liabilities			212,930				223,419
Equity
Mobile Infrastructure Corporation Stockholders’ Equity
Preferred stock Series A, $0.0001 par value, 50,000 shares authorized, 576 and 1,296 shares issued and outstanding, with a stated liquidation value of $576,000 and $1,296,000 as of September 30, 2026 and December 31, 2025, respectively			—				—
Preferred stock Series 1, $0.0001 par value, 97,000 shares authorized, 12,590 and 13,315 shares issued and outstanding, with a stated liquidation value of $12,590,000 and $13,315,000 as of September 30, 2026 and December 31, 2025, respectively			—				—
Preferred stock Series 2, $0.0001 par value, 60,000 shares authorized, 46,000 issued and converted (stated liquidation value of zero as of September 30, 2026 and December 31, 2025)			—				—
Warrants issued and outstanding – zero and 2,553,192 warrants as of September 30, 2026 and December 31, 2025, respectively			—				3,319
Common stock, $0.0001 par value, 500,000,000 shares authorized, 39,378,079 and 39,662,049 shares issued and outstanding as of September 30, 2026 and December 31, 2025, respectively			2				2
Additional paid-in capital			302,872				299,446
Accumulated deficit			(173,833	)			(161,496	)
Total Mobile Infrastructure Corporation Stockholders’ Equity			129,041				141,271
Non-controlling interest			15,083				17,774
Total equity			144,124				159,045
Total liabilities and equity		$	357,054			$	382,464

MOBILE INFRASTRUCTURE CORPORATION CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands, except share and per share amounts, unaudited)
		For the Three Months Ended September 30,								For the Nine Months Ended September 30,
		2026				2025				2026				2025
Revenues
Managed property revenue		$	8,544			$	7,673			$	22,927			$	21,659
Base rental income			1,013				1,279				3,113				4,185
Percentage rental income			27				134				369				469
Total revenues			9,584				9,086				26,409				26,313
Operating expenses
Property taxes			1,688				1,761				4,646				5,412
Property operating expense			1,642				1,820				5,051				5,497
Depreciation and amortization			1,762				2,874				5,365				7,822
General and administrative			2,250				2,438				7,256				7,230
Impairment			—				2,545				—				2,545
Total expenses			7,342				11,438				22,318				28,506
Other
Interest expense, net			(4,781	)			(4,568	)			(14,634	)			(13,908	)
Loss on extinguishment of debt			—				—				(2,044	)			—
Loss on sale of real estate			—				—				(1,115	)			—
Other income (expense), net			(11	)			34				125				(15	)
Change in fair value of Earn-Out liability			—				458				—				693
Total other expense			(4,792	)			(4,076	)			(17,668	)			(13,230	)
Net loss			(2,550	)			(6,428	)			(13,577	)			(15,423	)
Net loss attributable to non-controlling interest			(221	)			(625	)			(1,240	)			(1,480	)
Net loss attributable to Mobile Infrastructure Corporation’s stockholders		$	(2,329	)		$	(5,803	)		$	(12,337	)		$	(13,943	)
Preferred stock distributions declared - Series A			(13	)			(26	)			(49	)			(81	)
Preferred stock distributions declared - Series 1			(175	)			(209	)			(537	)			(671	)
Net loss attributable to Mobile Infrastructure Corporation’s common stockholders		$	(2,517	)		$	(6,038	)		$	(12,923	)		$	(14,695	)
Basic and diluted loss per weighted average common share:
Net loss per share attributable to Mobile Infrastructure Corporation’s common stockholders - basic and diluted		$	(0.06	)		$	(0.15	)		$	(0.33	)		$	(0.36	)
Weighted average common shares outstanding, basic and diluted			39,355,655				40,737,762				39,350,880				40,641,426

Discussion and Reconciliation of Non-GAAP Measures

Same-Location Net Operating Income

Net Operating Income (“NOI”) is presented as a supplemental measure of our performance. For the three and nine months ended September 30, 2026 and 2025, Same-Location NOI represents the NOI for the 35 properties that were owned for both calendar year periods being compared. The Company believes that NOI provides useful information to investors regarding our results of operations, as it highlights operating trends such as pricing and demand for our portfolio at the property level as opposed to the corporate level. NOI is calculated as total revenues less property operating expenses and property taxes. The Company uses NOI internally in evaluating property performance, measuring property operating trends, and valuing properties in our portfolio. Other real estate companies may use different methodologies for calculating NOI, and accordingly, the Company’s NOI may not be comparable to other real estate companies. NOI should not be viewed as an alternative measure of financial performance as it does not reflect the impact of general and administrative expenses, depreciation and amortization, interest expense, other income and expenses, or the level of capital expenditures necessary to maintain the operating performance of the Company’s properties that could materially impact results from operations.

Adjusted EBITDA

Adjusted Earnings Before Interest Expense, Taxes, Depreciation and Amortization (“Adjusted EBITDA”) reflects net income (loss) excluding the impact of interest expense, depreciation and amortization, and the provision for income taxes, for all periods presented. Adjusted EBITDA also excludes certain recurring and non-recurring items including, but not limited to, stock-based compensation expense, non-cash changes in fair value of the Earn-Out Liability, gains or losses from disposition of real estate assets, impairment write-downs of depreciable property, and Other Income, Net. Adjusted EBITDA should be considered along with, but not as an alternative to, net income (loss), cash flow from operations or any other operating GAAP measure.

Same-Location Net Operating Income and Reconciliation to Net Loss

		For the Three Months Ended September 30,										For the Nine Months Ended September 30,
		2026				2025			%			2026				2025			%
Revenues
Managed property revenue		$	8,544			$	7,255					$	22,765			$	20,459
Base rental income			1,013				1,105						3,030				3,635
Percentage rental income			27				135						369				469
Total revenues			9,584				8,495		12.8	%			26,164				24,563		6.5	%
Operating expenses
Property taxes			1,688				1,670						4,696				5,093
Property operating expense			1,642				1,541						4,935				4,697
Same-Location Net Operating Income		$	6,254			$	5,284		18.4	%		$	16,533			$	14,773		11.9	%
Reconciliation
Net loss		$	(2,550	)		$	(6,428	)				$	(13,577	)		$	(15,423	)
Loss on extinguishment of debt			—				—						2,044				—
Loss on sale of real estate			—				—						1,115				—
Other (income) expense, net			11				(34	)					(125	)			15
Change in fair value of Earn-Out liability			—				(458	)					—				(693	)
Interest expense, net			4,781				4,568						14,634				13,908
Depreciation and amortization			1,762				2,874						5,365				7,822
General and administrative			2,250				2,438						7,256				7,230
Impairment			—				2,545						—				2,545
Net Operating Income		$	6,254			$	5,505					$	16,712			$	15,404
Less: 2025 and 2026 Disposed Assets			—				(221	)					(179	)			(631	)
Same-Location Net Operating Income		$	6,254			$	5,284					$	16,533			$	14,773

Adjusted EBITDA Reconciliation

		For the Three Months Ended September 30,								For the Nine Months Ended September 30,
		2026				2025				2026				2025
Reconciliation of Net Loss to Adjusted EBITDA Attributable to the Company
Net loss		$	(2,550	)		$	(6,428	)		$	(13,577	)		$	(15,423	)
Interest expense, net			4,781				4,568				14,634				13,908
Depreciation and amortization			1,762				2,874				5,365				7,822
Impairment			—				2,545				—				2,545
Change in fair value of Earn-Out liability			—				(458	)			—				(693	)
Other expense, net			11				(34	)			(125	)			15
Loss on extinguishment of debt			—				—				2,044				—
Loss on sale of real estate			—				—				1,115				—
Equity based compensation			762				801				2,358				2,289
Adjusted EBITDA Attributable to the Company		$	4,766			$	3,868			$	11,814			$	10,463

RevPAS

Revenue Per Available Stall (“RevPAS”) is used to evaluate parking operations and performance. RevPAS is defined as average monthly Parking Revenue (Parking Revenue less related Sales Tax and Credit Card Fees) divided by the parking stalls in the locations that were owned and under management agreement for the periods presented. Parking Revenue does not include Billboard or Commercial Rent, or revenue from locations that are under Lease Agreements. The Company believes RevPAS is a meaningful indicator of our performance because it measures the period-over-period change in revenues for comparable locations.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What were Mobile Infrastructure's third-quarter 2026 earnings results?

Mobile Infrastructure reported $9.6 million in revenue and a $2.550 million net loss for the quarter ended September 30, 2026. Revenue increased 5.5% year over year. Basic and diluted loss per common share narrowed to $0.06 from $0.15.

What is Mobile Infrastructure's full-year 2026 guidance?

Mobile expects revenue at the low end of $35 million–$38 million, net operating income of $21.5 million–$23.0 million and adjusted EBITDA of $15.0 million–$16.5 million. The guidance excludes potential future asset sales or acquisitions under the asset rotation plan.

At what capitalization rate has Mobile Infrastructure sold assets under its rotation program?

Asset sales under Mobile Infrastructure's rotation program have achieved a weighted-average capitalization rate of approximately 2%. The program has generated approximately $33 million in proceeds to date toward its three-year $100 million target.