Gladstone Commercial Corporation (NASDAQ:GOOD) Q1 2023 Earnings Conference Call May 4, 2023 8:30 AM ET

Company Participants

David Gladstone - Chief Executive Officer

Michael LiCalsi - General Counsel and Secretary

Buzz Cooper - President

Gary Gerson - Chief Financial Officer

EJ Wislar - President & Chief Investment Officer

Conference Call Participants

Gaurav Mehta - EF Hutton

Rob Stevenson - Janney Montgomery Scott

John Massocca - Ladenburg Thalmann

Operator

Greetings and welcome to the Gladstone Commercial Corporation First Quarter Earnings Call. [Operator Instructions] As a reminder, this conference is being recorded.

It is now my pleasure to introduce your host, David Gladstone, Chief Executive Officer. Please proceed, sir.

David Gladstone

Well, thank you, Latoya. This is a nice introduction that you do each time. Thanks to all of you for calling in this morning. It's a chilly day here in McLean, Virginia, just outside of Washington, D.C. and we'll warm you up with some good news in a minute. We enjoy this time, we have with you on the phone and wish we had more time to talk with you. Now we'll hear from Michael LiCalsi, our General Counsel and Secretary, give us legal and regulatory matters concerning our reports.

Michael LiCalsi

Thanks, David. Good morning, everybody. Today's report may include forward-looking statements under the Securities Act of 1933 and Securities Exchange Act of 1934, including those regarding our future performance. These forward-looking statements involve certain risks and uncertainties that are based on our current plans which we believe to be reasonable and many factors may cause our actual results to be materially different from any future results expressed or implied forward-looking statements, including all risk factors in our Forms 10-Q, 10-K and other documents that we filed with the SEC. You find these on our website, gladstonecommercial.com, specifically the Investors page or the SEC's website which is www.sec.gov.

And we undertake no obligation to publicly update or revise any of these forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. Today, we will discuss FFO which is funds from operations. Now FFO is a non-GAAP accounting term defined as net income, excluding the gains or losses from the sale of real estate and any impairment losses on property, plus depreciation and amortization of real estate assets. We'll also discuss core FFO to generally FFO adjusted for certain other nonrecurring revenues and expenses. And we believe these metrics are a better indication of our operating results and allow better comparability of our period-over-period performance. We ask everyone to visit our website, once again, gladstonecommercial.com, sign up for our e-mail notification service. You can also find us on Facebook. Keyword there is the Gladstone Companies and our Twitter handle is @gladstonecomps.