Invesque reports Q3 results

* Invesque press release [https://seekingalpha.com/pr/20298794-invesque-inc-reports-third-quarter-2025-results] (IVQ:CA [https://seekingalpha.com/symbol/IVQ:CA]): Q3 Revenue of $6.6M.
*
FFO Tables

Three months ended September 30,

Nine months ended September 30,

2025

2024

2025

2024

Net loss from continuing operations for the period

$ (32,820)

$ (7,294)

$ (25,730)

$ (28,256)

Add/(deduct):

Change in fair value of investment properties

21,521

2,260

34,756

5,753

Property taxes accounted for under IFRIC 21

(1,586)

(1,999)

374

843

Depreciation and amortization expense

359

2,860

1,096

9,815

Amortization of tenant inducements

—

61

120

182

Accretion expense and amortization of non-cashadjustments to the 2016 Convertible Debentures

—

2,645

—

7,176

Change in fair value of financial instruments

(113)

2,228

818

3,386

Transaction Costs

1,396

20

3,166

338

Loss on sale of property, plant and equipment

682

(209)

(29,641)

(235)

Impairment of property, plant and equipment

44

280

65

2,110

Executive severance

—

—

492

3,060

Deferred income tax recovery

—

—

—

(1,605)

Allowance for credit losses on loans and interest receivable

2,333

429

4,240

884

Change in non-controlling interest liability in respect of the above

(3)

(12)

(6)

(181)

Adjustments for equity accounted entities

6,231

84

8,926

2,685

FFO from continuing operations

$ (1,956)

$ 1,353

$ (1,324)

$ 5,955

FFO from discontinued operations

(90)

(272)

(161)

(946)

Total FFO

$ (2,046)

$ 1,081

$ (1,485)

$ 5,009

Click to enlarge
AFFO Tables

Three months ended September 30,

Nine months ended September 30,

2025

2024

2025

2024

Cash flows provided by (used in) operating activities

$

(2,416)

$ 5,336

$ (12,182)

$ 5,879

Change in non-cash working capital

2,192

(2,026)

7,020

338

Less: interest expense

(1,605)

(9,785)

(15,322)

(30,191)

Less: change in non-controlling interest liability

(24)

(214)

4

(526)

Plus: loss from joint ventures

(6,558)

(605)

(10,477)

(3,259)

Plus: interest paid

1,803

8,613

23,098

27,953

Less: interest received

(76)

(32)

(265)

(156)

Plus: debt extinguishment costs

—

—

—

(412)

Plus: realized loss on currency exchange

—

(2)

—

8

Plus: amortization of lease asset

—

(10)

20

18

Plus: non-cash portion of non-controlling interest expense

—

(12)

—

(168)

Plus: adjustments for equity accounted entities

6,913

121

9,488

2,835

Plus: deferred share incentive plan compensation

—

(9)

2

(68)

Plus: executive severance

—

—

492

3,060

Plus: interest expense

—

—

671

—

Plus: bad debt at previously disposed properties

—

—

463

—

Plus: property taxes accounted for under IFRIC 21

—

—

246

—

Less: capital maintenance reserve

(198)

(372)

(594)

(1,116)

AFFO

$

31

$ 1,003

$ 2,664

$ 4,195

Click to enlarge

MORE ON INVESQUE

* Seeking Alpha’s Quant Rating on Invesque [https://seekingalpha.com/symbol/IVQ:CA/ratings/quant-ratings]
* Financial information for Invesque [https://seekingalpha.com/symbol/IVQ:CA/income-statement]