Clipper Realty Inc. income statement
In fiscal 2025, Clipper Realty Inc. reported revenue of $153m, up 3.0% on the year before, operating income of $4.2m (a 2.7% margin) and net income of −$19.9m. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.
Income statement
| Fiscal year | 2016Dec 2016 | 2017Dec 2017 | 2018Dec 2018 | 2019Dec 2019 | 2020Dec 2020 | 2021Dec 2021 | 2022Dec 2022 | 2023Dec 2023 | 2024Dec 2024 | 2025Dec 2025 | LTMJun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 93 | 104 | 110 | 116 | 123 | 123 | 130 | 138 | 149 | 153 | 151 |
| Cost of revenue | 67 | 74 | 78 | 83 | 92 | 96 | 102 | 105 | 108 | 149 | 117 |
| Gross profit | 26 | 30 | 32 | 33 | 31 | 27 | 28 | 33 | 41 | 4 | 35 |
| General and administrative | 8 | 10 | 10 | 9 | 10 | 11 | 13 | 13 | 14 | 16 | 16 |
| Operating income | 26 | 30 | 32 | 33 | 32 | 24 | 28 | 33 | 41 | 4 | 31 |
| Interest expense | 38 | 36 | 33 | 35 | 40 | 41 | 40 | 45 | 47 | 53 | 61 |
| Income tax | — | 0 | 0 | — | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net income | −4 | −2 | −4 | −2 | −5 | −8 | −5 | −6 | −3 | −20 | −13 |
| Diluted EPS | −$0.34 | −$0.15 | −$0.22 | −$0.11 | −$0.31 | −$0.51 | — | — | — | — | −$0.78 |
| Diluted shares (average) | 11m | 17m | 18m | 18m | 18m | 16m | 16m | 16m | 16m | 16m | 16m |
| EBITDA | 41 | 46 | 50 | 53 | 56 | 50 | 55 | 62 | 70 | 36 | 63 |
| Quarter | 2024 Q3Sept 2024 | 2024 Q4Dec 2024 | 2025 Q1Mar 2025 | 2025 Q2Jun 2025 | 2025 Q3Sept 2025 | 2025 Q4Dec 2025 | 2026 Q1Mar 2026 | 2026 Q2Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 38 | 38 | 39 | 39 | 38 | 37 | 38 | 39 |
| Cost of revenue | 27 | 27 | 63 | 28 | 29 | 29 | 30 | 29 |
| Gross profit | 11 | 11 | −24 | 11 | 9 | 8 | 8 | 10 |
| General and administrative | 3 | 4 | 4 | 4 | 4 | 4 | 4 | 4 |
| Operating income | 11 | 11 | −24 | 11 | 9 | 8 | 4 | 9 |
| Interest expense | 12 | 12 | 12 | 11 | 13 | 17 | 16 | 16 |
| Income tax | — | — | 0 | 0 | 0 | 0 | 0 | 0 |
| Net income | −0 | −0 | −13 | −1 | −2 | −4 | −4 | −2 |
| Diluted EPS | — | — | −$0.86 | −$0.07 | — | — | −$0.30 | — |
| EBITDA | 18 | 18 | −16 | 18 | 17 | 16 | 12 | 17 |
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