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Mobile Infrastructure (BEEP) investor relations material
Mobile Infrastructure Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Strengthened business foundation in 2025 despite not achieving expected growth, with execution of key strategic priorities and positioning for future growth and 2026 catalysts.
Owns a diversified portfolio of 36 parking assets in 19 markets, primarily in the Midwest and Southwest, with ~13,500 spaces and 4.6M square feet as of December 31, 2025.
Achieved 10% year-over-year growth in contract parking volumes and nearly 60% increase in residential monthly contracts, supporting recurring revenue streams.
Strategic shift from leased to management contracts underway, with 28 of 36 assets converted by year-end 2025, aiming for improved revenue consistency and NOI margin.
Asset rotation strategy met $30 million sales target in its first year, with further dispositions planned toward a $100 million, three-year goal.
Financial highlights
Q4 2025 revenue was $8.8M, down from $9.2M year-over-year; full year revenue was $35.1M, down 5.2% from $37M in 2024.
Q4 net operating income (NOI) was $5.3M vs. $5.5M prior year; full year NOI was $20.7M vs. $22.6M.
Q4 Adjusted EBITDA was $3.9M (flat year-over-year); full year Adjusted EBITDA was $14.3M vs. $15.8M.
Q4 net loss was $8.3M (vs. $1.0M prior year); full year net loss was $23.7M.
Same location RevPAS for Q4 was $190 (vs. $200 prior year); full year was $199.36 (vs. $209.24 prior year).
Outlook and guidance
2026 revenue guidance: $35M–$38M (midpoint 4% growth over 2025; 8% growth on same-portfolio basis).
2026 NOI guidance: $21.5M–$23M (midpoint 7% growth; 10% growth adjusted for asset sales).
2026 Adjusted EBITDA guidance: $15M–$16.5M (midpoint 10% growth; 13% adjusted).
Guidance assumes continued contract parking growth, transient recovery post-construction, and return to office momentum.
Guidance excludes future asset sales or acquisitions from the asset rotation plan.
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