Invesque (IVQ) Q1 2025 earnings summary

Executive summary

• Reported Q1 2025 results with a focus on asset sales and debt reduction to optimize shareholder value.

• Sold a seniors housing asset for US$25.1M in April 2025, using proceeds to pay off related mortgage and boost liquidity.

• Entered agreements to sell 22 assets for US$319.8M, with closings expected within 60 days; additional sale of 10 memory care communities expected in Q3 2025.

Financial highlights

• Q1 2025 revenue was $37.4M, down from $43.6M in Q1 2024.

• Net loss of $8.9M in Q1 2025, compared to $6.2M loss in Q1 2024.

• FFO for Q1 2025 was $2.1M, down from $2.5M in Q1 2024; AFFO was $2.2M, up from $2.1M year-over-year.

• Total assets at March 31, 2025 were $631.2M, with debt at $389.2M.

Outlook and guidance

• Focus remains on executing announced asset sales to return value to shareholders.

• Transaction activity in seniors housing sector has increased, supporting asset values.

• Expects to close major asset sales within 60 days and additional sales in Q3 2025.