Gladstone Commercial Corporation (NASDAQ:GOOD) Q4 2022 Earnings Conference Call February 23, 2023 8:30 AM ET

Company Participants

David Gladstone - CEO

Michael LiCalsi - General Counsel and Secretary

Buzz Cooper - President

Gary Gerson - CFO

Conference Call Participants

Gaurav Mehta - EF Hutton

James Allen Villard - Ladenburg Thalmann

Craig Kucera - B. Riley

Operator

Greetings. Welcome to Gladstone Commercial Corporation's Year End Conference Call. [Operator Instructions] Please note that this conference is being recorded.

At this time, I'll turn the conference over to Mr. David Gladstone, Chief Executive Officer, Mr. Gladstone, you may now begin.

David Gladstone

Thank you, Rob. Nice introduction and we thank all of you for calling in. We certainly enjoy this time we have with you and we are on the phone and wish there were more time to talk to you and we're going to start off as we always do with Michael LiCalsi, he is our General Counsel and Secretary go give us the legal and regulatory matters concerning the call today.

Michael, go ahead.

Michael LiCalsi

Thanks David. Good morning, everybody.

Today's report may include forward-looking statements under the Securities Act of 1933, the 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 by these forward-looking statements, including all risk factors listed in our Forms 10-Q and 10-K and the other documents we filed with the SEC. You can find them on our website, www.gladstonecommercial.com, specifically the Investors page or on 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.

And today, we will discuss FFO, which is funds from operations. FFO is a non-GAAP accounting term defined as net income, excluding 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, which is generally FFO adjusted for certain other non-recurring revenues and expenses. We believe these metrics are a better indication of our operating results and allow better comparability of our period-over-period performance.