The firm reported a GAAP loss per share of $3.04 as revenue fell 40.3% year-over-year to $7.35 million.
American Strategic Investment reported a first-quarter GAAP loss of $3.04 per share, missing expectations as revenue declined to $7.35 million. The 40.3% year-over-year drop in revenue reflects ongoing challenges in its operating environment.
Cash net operating income fell to $2.9 million from $4.2 million in the same period last year. Adjusted EBITDA turned negative at $1.1 million, signaling weaker profitability.
The results highlight pressures on the firm’s core operations amid broader market conditions.