Whitestone REIT (WSR) Financial Statements

Income statement

Metric	TTM	2025	2024	2023	2022
Revenue
Total Revenue	165.1M	160.9M	155.5M	147.9M	140.6M
Cost of Revenue	71.3M	50.1M	46.0M	46.0M	43.3M
Gross Profit	93.8M	110.7M	109.5M	102.0M	97.3M
Operating Expenses
R&D Expense	—	—	—	—	—
SG&A Expense	15.8M	21.2M	23.2M	20.7M	18.1M
General & Admin Expense	15.8M	21.2M	23.2M	20.7M	18.1M
Selling & Marketing Expense	—	—	—	—	—
Other Expenses	23.6M	35.9M	34.9M	33.0M	31.7M
Total Operating Expenses	39.4M	57.1M	58.1M	53.6M	49.8M
Cost and Expenses	110.7M	107.3M	104.1M	99.6M	93.1M
Operating Income (EBIT)	54.5M	53.6M	51.4M	48.3M	47.5M
Non-Operating
Interest Income	321.0K	408.0K	87.0K	51.0K	65.0K
Interest Expense	34.2M	33.7M	34.0M	32.9M	27.2M
Net Interest Income	(33.9M)	(33.3M)	(33.9M)	(32.8M)	(27.1M)
Other Non-Op Income/Expense	(3.0M)	(2.5M)	(13.6M)	(28.4M)	(11.3M)
Non-Operating Income (excl Interest)	(31.2M)	(31.1M)	(20.4M)	(4.4M)	(15.9M)
EBT (Pre-Tax Income)	51.5M	51.0M	37.8M	19.9M	36.2M
Income Tax Expense	487.0K	482.0K	450.0K	450.0K	422.0K
Bottom Line
Net Income	50.4M	49.9M	36.9M	19.2M	35.3M
Earnings from Cont. Ops	51.0M	50.6M	37.4M	19.4M	35.8M
Earnings from Discont. Ops	—	—	—	—	—
Bottom Line Net Income	50.4M	49.9M	36.9M	19.2M	35.3M
Per Share
Basic EPS	$0.99	$0.98	$0.73	$0.39	$0.72
Diluted EPS	$0.96	$0.95	$0.72	$0.38	$0.71
Revenue Per Share	$3.21	$3.18	$3.10	$2.99	$2.85
Shares
Basic Shares Outstanding	51.4M	50.6M	50.2M	49.5M	49.3M
Diluted Shares Outstanding	52.8M	51.9M	51.3M	50.8M	50.0M
Profitability Metrics
EBITDA	122.3M	120.6M	106.8M	85.8M	95.1M
D&A	36.6M	35.9M	35.0M	33.1M	31.7M
EBIT	85.7M	84.7M	71.9M	52.8M	63.4M

As reported, in the filing currency · TTM sums the four latest quarters; MRQ is the latest quarter · Negatives in parentheses; a dash is a line the filing does not carry · Data as of Mar 1, 2026