$NLCP
NewLake Capital Partners, Inc.

2023 Q3 Form 10-Q Financial Statement

#000185496423000034 Filed on August 09, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2
Revenue $11.49M $11.38M
YoY Change -4.82% 8.33%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $1.940M $2.021M
YoY Change 11.94% -48.3%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $3.100M $3.100M
YoY Change 0.0% 34.78%
% of Gross Profit
Operating Expenses $5.508M $5.589M
YoY Change 2.7% -16.74%
Operating Profit $5.983M $5.787M
YoY Change -10.83% 52.77%
Interest Expense $95.00K $97.00K
YoY Change 1.06% 110.87%
% of Operating Profit 1.59% 1.68%
Other Income/Expense, Net $83.00K $111.0K
YoY Change -195.4% 5450.0%
Pretax Income $6.070M $5.898M
YoY Change -8.35% 55.62%
Income Tax
% Of Pretax Income
Net Earnings $5.958M $5.797M
YoY Change -10.04% 52.96%
Net Earnings / Revenue 51.85% 50.96%
Basic Earnings Per Share $0.28 $0.27
Diluted Earnings Per Share $0.28 $0.27
COMMON SHARES
Basic Shares Outstanding 21.30M shares 21.36M shares
Diluted Shares Outstanding 21.58M shares 21.74M shares

Balance Sheet

Concept 2023 Q3 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $31.10M $40.67M
YoY Change -30.92% -18.0%
Cash & Equivalents $31.07M $40.67M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $31.10M $40.67M
YoY Change -34.79% -20.5%
LONG-TERM ASSETS
Property, Plant & Equipment $374.8M $375.3M
YoY Change -1.22% 7.89%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.900M $1.949M
YoY Change
Total Long-Term Assets $404.0M $404.8M
YoY Change -0.71% -0.26%
TOTAL ASSETS
Total Short-Term Assets $31.10M $40.67M
Total Long-Term Assets $404.0M $404.8M
Total Assets $435.1M $445.4M
YoY Change -4.28% -2.53%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.000M $1.424M
YoY Change -50.0% -47.26%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $16.60M $17.35M
YoY Change -4.27% -2.53%
LONG-TERM LIABILITIES
Long-Term Debt $2.000M $1.993M
YoY Change -32.89% -32.96%
Other Long-Term Liabilities $1.100M $915.0K
YoY Change -3.34% -51.84%
Total Long-Term Liabilities $3.100M $2.908M
YoY Change -24.72% -40.32%
TOTAL LIABILITIES
Total Short-Term Liabilities $16.60M $17.35M
Total Long-Term Liabilities $3.100M $2.908M
Total Liabilities $19.67M $20.26M
YoY Change -8.33% -10.65%
SHAREHOLDERS EQUITY
Retained Earnings -$39.64M -$37.51M
YoY Change 28.64% 27.6%
Common Stock $207.0K $213.0K
YoY Change -3.27% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $408.1M $417.8M
YoY Change
Total Liabilities & Shareholders Equity $435.1M $445.4M
YoY Change -4.28% -2.53%

Cashflow Statement

Concept 2023 Q3 2023 Q2
OPERATING ACTIVITIES
Net Income $5.958M $5.797M
YoY Change -10.04% 52.96%
Depreciation, Depletion And Amortization $3.100M $3.100M
YoY Change 0.0% 34.78%
Cash From Operating Activities $9.390M $9.977M
YoY Change 20.45% 5.12%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00
YoY Change -100.0% -100.0%
Acquisitions
YoY Change
Other Investing Activities -$2.610M -$1.594M
YoY Change -44.77% -95.18%
Cash From Investing Activities -$2.610M -$1.594M
YoY Change -44.75% -97.67%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -16.38M -9.207M
YoY Change 114.09% 48.33%
NET CHANGE
Cash From Operating Activities 9.390M 9.977M
Cash From Investing Activities -2.610M -1.594M
Cash From Financing Activities -16.38M -9.207M
Net Change In Cash -9.600M -824.0K
YoY Change 109.65% -98.74%
FREE CASH FLOW
Cash From Operating Activities $9.390M $9.977M
Capital Expenditures $0.00 $0.00
Free Cash Flow $9.390M $9.977M
YoY Change 20.48% -77.79%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2022Q4 us-gaap Operating Lease Right Of Use Asset Statement Of Financial Position Extensible List
OperatingLeaseRightOfUseAssetStatementOfFinancialPositionExtensibleList
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CY2023Q2 us-gaap Operating Lease Right Of Use Asset Statement Of Financial Position Extensible List
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CY2022Q4 us-gaap Operating Lease Liability Statement Of Financial Position Extensible List
OperatingLeaseLiabilityStatementOfFinancialPositionExtensibleList
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CY2023Q2 us-gaap Operating Lease Liability Statement Of Financial Position Extensible List
OperatingLeaseLiabilityStatementOfFinancialPositionExtensibleList
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CY2022Q2 nlcp Conversion Of Op Units To Common Stock
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us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Restricted Stock Units Requisite Service Period Recognition
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nlcp Conversion Of Op Units To Common Stock
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nlcp Adjustment For Noncontrolling Interest Ownership In Operating Partnership
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us-gaap Profit Loss
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CY2022Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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us-gaap Gain Loss On Sale Of Property Plant Equipment
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us-gaap Depreciation Depletion And Amortization
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us-gaap Amortization Of Financing Costs
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us-gaap Amortization Of Debt Discount Premium
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nlcp Non Cash Deposits Applied To Security Deposits
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nlcp Increase Decrease In Interest Reserve
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us-gaap Increase Decrease In Deferred Revenue
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us-gaap Increase Decrease In Other Operating Liabilities
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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Payments For Tenant Improvements
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us-gaap Payments For Proceeds From Loans Receivable
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Payments For Repurchase Of Common Stock
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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us-gaap Interest Paid Net
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CY2023Q2 us-gaap Dividends Payable Current And Noncurrent
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us-gaap Capital Lease Obligations Incurred
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us-gaap Capital Lease Obligations Incurred
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us-gaap Use Of Estimates
UseOfEstimates
<div style="margin-top:12pt;padding-left:36pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-top:12pt;padding-left:36pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Management will adjust such estimates when facts and circumstances dictate. Such estimates include, but are not limited to, useful lives for depreciation of property, the fair value and impairment of property and in-place lease intangibles acquired, and the fair value of stock-based compensation. Actual results could differ from those estimates.</span></div>
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
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CY2023Q2 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
32 property
CY2023Q2 nlcp Number Of Real Estate Properties Held For Sale
NumberOfRealEstatePropertiesHeldForSale
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CY2023Q2 nlcp Number Of States In Which Entity Owns Property
NumberOfStatesInWhichEntityOwnsProperty
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CY2023Q2 us-gaap Land
Land
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CY2023Q2 us-gaap Investment Building And Building Improvements
InvestmentBuildingAndBuildingImprovements
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CY2023Q2 us-gaap Real Estate Investment Property At Cost
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CY2023Q2 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
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CY2023Q2 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
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CY2023Q2 nlcp Number Of Real Estate Properties Held For Sale
NumberOfRealEstatePropertiesHeldForSale
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CY2022Q4 nlcp Number Of Cultivation Facilities Acquired
NumberOfCultivationFacilitiesAcquired
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CY2022Q4 nlcp Number Of Dispensaries Acquired
NumberOfDispensariesAcquired
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us-gaap Payments For Tenant Improvements
PaymentsForTenantImprovements
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us-gaap Payments For Tenant Improvements
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CY2023Q2 nlcp Tenant Improvements Unfunded Commitments
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CY2022 us-gaap Payments For Tenant Improvements
PaymentsForTenantImprovements
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CY2022 us-gaap Payments For Tenant Improvements
PaymentsForTenantImprovements
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CY2022Q4 nlcp Tenant Improvements Unfunded Commitments
TenantImprovementsUnfundedCommitments
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CY2022Q4 us-gaap Purchase Options Land
PurchaseOptionsLand
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us-gaap Proceeds From Sale Of Real Estate
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CY2023Q2 us-gaap Real Estate Heldforsale
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CY2023Q2 us-gaap Depreciation
Depreciation
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CY2022Q2 us-gaap Depreciation
Depreciation
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us-gaap Depreciation
Depreciation
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CY2022Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
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CY2023Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
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us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
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CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
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CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
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CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
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CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
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FiniteLivedIntangibleAssetExpectedAmortizationAfterYearFour
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us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
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us-gaap Impairment Of Real Estate
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CY2023Q2 nlcp Lessor Reimbursable Revenue
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CY2022Q2 nlcp Lessor Reimbursable Revenue
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CY2023Q2 nlcp Lessor Reimbursable Expense
LessorReimbursableExpense
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CY2022Q2 nlcp Lessor Reimbursable Expense
LessorReimbursableExpense
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CY2020Q4 nlcp Lessor Number Of Leases Subject To Purchase Option
LessorNumberOfLeasesSubjectToPurchaseOption
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CY2023Q2 nlcp Lessor Number Of Leases Subject To Purchase Option
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CY2023Q2 us-gaap Lessor Operating Lease Payments To Be Received Remainder Of Fiscal Year
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CY2023Q2 us-gaap Lessor Operating Lease Payments To Be Received Next Twelve Months
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CY2023Q2 us-gaap Lessor Operating Lease Payments To Be Received Two Years
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CY2023Q2 us-gaap Lessor Operating Lease Payments To Be Received Three Years
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CY2023Q2 us-gaap Lessor Operating Lease Payments To Be Received Four Years
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CY2023Q2 nlcp Lessor Operating Lease Payment To Be Received After Year Four
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CY2023Q2 us-gaap Lessor Operating Lease Payments To Be Received
LessorOperatingLeasePaymentsToBeReceived
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CY2023Q2 nlcp Number Of Non Performing Tenants
NumberOfNonPerformingTenants
1 tenant
CY2023Q2 nlcp Lessee Number Of Leases
LesseeNumberOfLeases
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CY2023Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
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CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
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CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
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CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
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CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
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CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due
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CY2023Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
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CY2023Q2 us-gaap Operating Lease Liability
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CY2023Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
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CY2023Q2 us-gaap Lessee Operating Lease Remaining Lease Term
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CY2022Q2 nlcp Stockholders Equity Attributable To Noncontrolling Interest Percentage
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CY2022Q4 nlcp Stockholders Equity Attributable To Noncontrolling Interest Percentage
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CY2021Q4 nlcp Stockholders Equity Attributable To Noncontrolling Interest Percentage
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CY2023Q2 nlcp Stockholders Equity Attributable To Noncontrolling Interest Percentage
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CY2022Q4 us-gaap Stock Repurchase Program Authorized Amount1
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us-gaap Stock Repurchased During Period Shares
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nlcp Common Stock Acquired Average Cost Per Share
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us-gaap Stock Repurchased During Period Value
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CY2022Q2 nlcp Convertible Units Conversion Ratio
ConvertibleUnitsConversionRatio
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CY2022Q2 nlcp Convertible Units Conversion Ratio
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CY2023Q1 nlcp Amount Per Share In Dollars Per Share
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nlcp Amount Per Share In Dollars Per Share
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CY2022Q1 nlcp Amount Per Share In Dollars Per Share
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nlcp Amount Per Share In Dollars Per Share
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CY2023Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
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CY2022Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
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3758000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
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CY2023Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
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CY2022Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
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us-gaap Net Income Loss Attributable To Noncontrolling Interest
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203000 usd
CY2023Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
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CY2022Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
3790000 usd
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
11868000 usd
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
21369489 shares
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
21307621 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
21396330 shares
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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21732289 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.27
CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.18
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.55
CY2023Q2 us-gaap Earnings Per Share Diluted
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0.18
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.55
CY2023Q2 us-gaap Notes Receivable Net
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5000000 usd
CY2022Q4 us-gaap Notes Receivable Net
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5000000 usd
CY2023Q2 us-gaap Line Of Credit
LineOfCredit
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CY2022Q4 us-gaap Line Of Credit
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CY2023Q2 us-gaap Loans Payable
LoansPayable
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CY2022Q4 us-gaap Loans Payable
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1986000 usd
CY2022Q4 us-gaap Notes Receivable Net
NotesReceivableNet
5000000 usd
CY2023Q2 us-gaap Notes Receivable Net
NotesReceivableNet
5000000 usd
CY2023Q2 nlcp Unfunded Commitments For Development And Improvement Of Facilities
UnfundedCommitmentsForDevelopmentAndImprovementOfFacilities
22800000 usd

Files In Submission

Name View Source Status
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nlcp-20230630_cal.xml Edgar Link unprocessable