Short answer
MODIV INDUSTRIAL, INC. (MDV) filed its Q1 2026 10-Q quarterly report on May 8, 2026 for the quarter ended Mar 31, 2026. Quarterly revenue was $12M (down 0.8% year over year) with net income of −$87,000.
Q1 2026 key financials · XBRL
- Revenue
- $12M
- −0.8% YoY
- Net income
- −$87,000
- −110.5% YoY
- Operating margin
- 35.9%
- EPS (diluted)
- −$0.11
- −1000.0% YoY
Source: XBRL data from the MODIV INDUSTRIAL, INC. (MDV) Q1 2026 10-Q on SEC EDGAR. USD.
MODIV INDUSTRIAL, INC. Q1 2026 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Portfolio ABR $40.1M across 41 properties; occupancy 99% as of March 31, 2026
- Operating cash flow $4.104M vs $3.050M YoY
- Investing cash use $7.968M vs $0.864M, including $9.6M Santa Clara acquisition
- Financing cash use $6.040M vs $7.551M, with preferred repurchases $0.5M vs $4.9M
- Headwinds: inflation, interest rates, tariffs, supply-chain disruption and refinancing uncertainty
Risk Factors
- New merger-closing risk triggered by May 3, 2026 GNL merger agreement, including stockholder approval and Form S-4 effectiveness
- Merger termination risk, including payments up to $15 million and transaction costs regardless of closing
- Securities-litigation risk involving proxy disclosures or fiduciary-duty claims, potentially delaying completion beyond February 3, 2027
- Operational disruption from merger restrictions limiting strategic transactions, capital projects, and financing without GNL consent
- Liquidity risk from potential adverse litigation judgment affecting financial condition and liquidity
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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